A couple of years ago, the crypto community seemed ready to get rid of the tedious KYC verification process. But, instead, it was happening to give birth to a new sort of system. The system would allow conducting financial dealings anonymously without fear of being audited by tax authorities.
Businesses rely on Know Your Customer (KYC) checks for various reasons. It includes the management of transactions, tracking criminal activities, and preventing illegal financing. But many investors continue to view the KYC mandate as an impediment to the Bitcoin benchmark. It is because it has traditionally supported anonymous peer-to-peer transactions.
Here’s a list of the 5 best crypto exchanges without KYC:
There are still many cryptocurrency platforms that don’t require KYC verification. However, when it comes to buying and selling cryptocurrency anonymously, such marketplaces are indispensable for privacy-conscious individuals.
Here are the 5 best cryptocurrency exchanges that do not require KYC checks.
Signing up takes little time and effort, so try out ByBit if you’re new to crypto.
ByBit, headquartered in Singapore, is a peer-to-peer platform for cryptocurrency derivatives with over 10 million registered customers. The platform’s ability to process orders quickly is reflected in the exchange’s daily volume of billions of dollars trading.
The token withdrawal limit on the exchange is 2 BTC per day without needing KYC verification. Registration is open to users everywhere except the United States and a few other countries on the list. Signing up takes little time and effort, so try out this platform if you’re new to crypto.
- Contracts are settled in cryptocurrency and USDT.
- There is less potential for market manipulation or liquidations.
- Profitable incentives
- Most actively traded derivatives in the top three markets
- Integrates perfectly with most Cryptocurrency Tax Software
- ByBit is unregulated
- There are only a handful of possible trading pairs.
Our second option is:
You can trade and purchase 500 different coins on SimpleSwap.
More than 500 different coins are available for trading or purchase on the SimpleSwap platform. This exchange acts as a middleman between customers and various cryptocurrency exchanges. Users can access the service without creating an account. Instead, traders need to log on to the site or launch the application, input the transaction’s precise details, and complete their transaction.
It allows SimpleSwap users to instantly trade on all of the platform’s authorized exchanges. In addition to a fixed rate, SimpleSwap also provides a fluctuating rate for trading cryptocurrencies.
- You can trade in 500-plus cryptocurrencies with ease and comfort
- The platform is easy to use and understand, giving you a tremendous edge over the market
- Many incentive programs for users
- In some circumstances, KYC may become obligatory for resolving a disagreement over a financial transaction.
- SimpleSwap lacks features like copy trading and automated trading bots.
CoinEx allows you to trade in 1030 different trading pairs and 615 different cryptocurrencies.
CoinEx, launched in 2017, supports over 1030 different trading pairs and 615 different cryptocurrencies, including its own coin, CET (CoinEx Token). If a user wants to withdraw over $10,000 in a day, they will need to go through the KYC verification process.
Trading fiat currencies, a swap market, cryptocurrency mining, and other functions are all available on the site. Even though many exchanges advertise that they allow both futures and margin trading, CoinEx does. CoinEx charges a reasonable fee for trading at 0.2%. CoinEx also provides attractive trading conditions for high-volume traders.
- Low trading costs compared to other exchanges and even lower for high-volume trades.
- Trading pairs between cryptocurrencies and fiat currencies give customers various options.
- A large pool of available funds for trading on the exchange supports various cryptocurrencies with regular trades.
- Some previous users reported delayed transactions.
Changelly allows a KYC-free withdrawal of 1 Bitcoin worth of tokens daily.
In 2018, Bybit was founded, and it has quickly grown to become a leading cryptocurrency derivatives exchange. A group of people well-versed in investment banking and the foreign exchange market created the company. Bybit is headquartered in Singapore, with the company registered within the British Virgin Islands. It promotes the idea of a unified global economy and what appears to be a swift, safe, and open system for commercial transactions.
It has started down the path of creating the next-generation financial ecosystem supported by cutting-edge blockchain technology. Bybit has over 1.6 million users worldwide, including professional and retail clients, and the company is always looking for new ways to improve its service.
- A new user does not have to go through KYC checks. Opening a trading account is simple.
- Traders can access the platform through a desktop computer or a mobile app.
- Bybit offers a high degree of leverage, low trading fees, and a generous market maker rebate.
- Backed by a solid insurance fund that can help lessen the blow and pay for any damage that does occur.
- Very generous bonuses.
- Compared to similar marketplaces, Bybit’s fees are one of the lowest.
- There is no way to verify trading volume data for accuracy independently.
- Americans are prohibited from participating in trade.
- Insufficient regulations.
- There is a restricted number of possible pairings.
PrimeXBT provides access to numerous cryptocurrency exchange pairs.
PrimeXBT is a decentralized platform that does not require KYC checks and has no trading volume restrictions. Foreign exchange, leverage, stock, and cryptocurrency trading are all available through their platform.
It provides access to numerous cryptocurrency exchange pairs. Ripple, Litecoin, EOS, Ethereum (ETH), and Bitcoin (BTC) are examples. You can trade Bitcoin and other digital assets without providing any personal information to the exchange.
You can modify the program’s look by including new tabs, order kinds, charts, and indicators. Any level of trader can use the various screens. PrimeXBT can also function as a cryptographic vulnerability scanner.
- Tools for in-depth analysis and graphing are included.
- Turbo trading is available to users.
- There is a referral system in place that rewards users for spreading the word about the exchange.
- Limited cryptocurrency pairs are available on the exchange.
Start Trading on Crypto Exchanges without KYC Verification
Starting with crypto trading seems impossible, but it’s not. All you need is a good crypto platform that supports multi-cryptocurrencies and does not burden you with crucial verification processes.
The above mentioned are top crypto marketplaces without KYC verification and provide superior services and goods. You can open an account using any of these platforms in minutes.
In addition, there is no need to provide any papers for anti-money laundering procedures. But before you sign up, it’s a good idea to read over their terms and policies, especially those about making deposits and withdrawals.