Exchanges that do not ask users to provide Know-Your-Customer (KYC) information allow them to carry out crypto transactions anonymously. This article explores the top ten platforms that let users maintain anonymity while transacting, but first, let’s define KYC.
KYC is a procedure adopted by some crypto exchanges requiring users to verify their identities before engaging in crypto transactions in an effort to block money laundering activities. Some of the information requested by these exchanges include the user’s date of birth, full name, and residential address. A government-issued identification document should also be submitted.
Best Crypto Exchanges to Use Without KYC Information
Changelly is a top crypto trading platform that allows users to complete crypto transactions without the need to verify their identities. This exchange gives you total control over your crypto assets while transacting because it does not store them for you. Changelly lets users trade over 350 cryptocurrencies at a 0.25% fee.
StormGain launched its decentralized exchange last year to allow crypto users to trade without revealing their personal details. To use StormGain DEX, you need to connect your decentralized crypto wallet to the platform. It supports multiple wallets, including Argent and MetaMask. Over 500 cryptocurrencies are available for trading.
Apex is another top no-KYC decentralized exchange known for providing speedy and secure transactions. In addition, trading fees are considerably low. However, the downside is that it only supports a limited range of crypto assets, 15 to be precise.
BingX is a centralized crypto exchange, meaning it assumes custodial duties on behalf of its users. It is worth highlighting that BingX is not entirely a no-KYC platform. Large traders who wish to withdraw over $10,000 a day have to verify their accounts. As for small traders who want to transact anonymously, this exchange is ideal for them as it also offers copy trading. BingX supports over 450 cryptocurrencies and is available in more than 100 countries.
Like BingX, MEXC is a partial no-KYC platform. Users with unverified accounts have a daily withdrawal limit of $5,000. What makes this crypto exchange stand out is its wide range of cryptocurrencies. You can trade over 1,700 tokens on MEXC. The platform offers both spot and margin trading.
BYDFi is headquartered in Singapore but operates in more than 130 countries. While it’s a no-KYC exchange, users making fiat deposits via third-party providers like Banxa, Transak or XanPool, must complete the KYC process. Over 40 cryptocurrencies are available for trading here.
Do you want to trade crypto anonymously and at zero fees? Try dYdX. The Ethereum-based decentralized exchange is known for having high liquidity, thus allowing quick execution of trades. You can trade over 35 ERC-20 tokens through this platform. To start trading, you must connect a crypto wallet that supports the Ethereum network to dYdX.
Crypto users who don’t want to share sensitive details to trade can open an unverified trading account on Kucoin. But the negative side is that you can only withdraw 1 BTC per day. The platform supports the trading of more than 800 cryptocurrencies and operates in 142 countries. What about the trading fees? Traders paying fees in Kucoin’s exchange token, KCS, incur 0.08% per transaction, while others pay 0.1%.
Gate.io is a partial no-KYC platform allowing unverified users to withdraw $10,000 daily. The centralized exchange has a presence in over 190 countries and lists 1,600 cryptocurrencies. Users can deposit about 45 fiat currencies, including Canadian and United States Dollars. However, compared to other centralized exchanges mentioned above, Gate.io’s trading fees are a bit high, charging 0.3% per transaction.
Launched in 2012, Bitfinex is among the top crypto exchanges processing the largest daily trading volumes. It lets users anonymously trade several popular cryptocurrencies, including Ethereum, Bitcoin and 90 others. Note that a 0.1% trading fee is charged.
No-KYC crypto trading platforms continue to offer solutions for traders and investors who value their privacy. But before using one, consider the possible risks associated with each to avoid losing your crypto.
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