Best No KYC Crypto Exchanges: Top Picks for 2024

In recent years, the Know Your Customer (KYC) concept has become increasingly crucial in cryptocurrency exchanges. KYC refers to verifying a customer’s identity to prevent fraud, money laundering, and other illegal activities.

While KYC has been standard practice in banking and trading, there has been an ongoing debate about the need for KYC in these platforms. It’s because cryptocurrency is decentralized, which means operating outside of traditional banking systems.

A Rise in Demand for No KYC Crypto Exchanges

Crypto exchanges act as intermediaries between buyers and sellers of digital assets such as Bitcoin or Ethereum. As more people become interested in investing in cryptocurrencies, there has been a demand to know what are the top crypto exchanges in 2024. The same goes for exchanges that do not require KYC verification. 

Some users prefer no KYC crypto exchanges because they value their privacy and find submitting personal documents time-consuming and invasive.

Due to lax security measures and potential legal implications, they offer quick account setup without delays caused by document verification processes. Users can also enjoy higher trading limits since they are not subject to strict regulations.

What’s the Appeal of a No KYC Crypto Exchange?

What’s the Appeal of a No KYC Crypto Exchange

Many traditional crypto exchanges require users to undergo a KYC verification process before trading. This process involves submitting personal information such as government-issued IDs and proof of address to comply with anti-money laundering regulations.

While KYC may seem necessary for some users who prioritize security and regulatory compliance, it may often lead to profiling and discrimination practices. There’s also a concern about users’ invasion of privacy. 

This is where no KYC crypto exchanges come into play. They do not require users to undergo any identity verification process. Instead, they allow individuals to trade cryptocurrencies anonymously without revealing personal information.

A no KYC crypto exchange can provide privacy, speed, accessibility, and cost-effectiveness that may not be available on traditional platforms.

👍 Privacy Protection

One of the main reasons people choose no KYC crypto exchanges is that they value their privacy and want to protect their personal information from being shared with third parties.

Traditional crypto exchanges are prime targets for hackers due to their large amount of sensitive data, but a no KYC exchange eliminates this risk.

👍 Faster Transactions

By skipping the lengthy verification process required by traditional exchanges, users can start trading on no KYC platforms almost instantly. This means faster transactions when buying or selling cryptocurrencies without waiting days for their accounts to be verified.

👍 Accessible Worldwide

No KYC crypto exchanges are accessible worldwide, allowing individuals from countries with strict financial regulations or those without proper identification documents to still participate in the crypto market.

👍 Lower Fees

Without extensive KYC compliance, no KYC exchanges can operate with lower overhead costs, which translates to lower user fees. This is especially beneficial for small traders who want to avoid high transaction fees on traditional exchanges.

Factors to Consider When Choosing a No KYC Crypto Exchange

Taking your time and thoroughly researching can help you invest your hard-earned money smartly. Therefore, you should consider several factors when choosing a no KYC crypto exchange. 


As you may already know, the cryptocurrency market is highly susceptible to hacking and fraud attempts. Choosing an exchange with strong security measures such as two-factor authentication (2FA), cold storage for funds, and regular security audits is crucial.


Every transaction on a crypto exchange incurs some form of fees or charges. Before making a decision, comparing the fees charged by different exchanges is imperative. Some exchanges may have lower fees but higher spread costs, while others may have higher fees but better transaction rates.


Do your due diligence before trusting any cryptocurrency exchange with your funds. Research the exchange’s reputation for reliability, transparency, and customer satisfaction.

Market Availability

The availability of cryptocurrencies in exchange can also influence your decision-making process. If you want to trade specific coins or tokens, ensure they are listed on the chosen exchange.


Cryptocurrency regulations vary from country to country, affecting how exchanges operate in different regions globally. Before selecting an exchange, it’s essential to understand their policies regarding compliance with local laws and regulations.


The main reason for choosing a no-KYC crypto exchange is to protect your privacy. It is important to read through the exchange’s privacy policy to ensure that it does not collect personal information without your consent.

Reputation Among Other Traders

It’s always a good idea to research the experiences of other traders on that particular exchange. Read reviews and feedback from forums and social media platforms to understand how trustworthy and reliable the exchange is.

Top 7 Picks for No KYC Crypto Exchanges in 2024

Top 7 Picks for No KYC Crypto Exchanges in 2024

No KYC crypto exchanges provide a viable alternative for individuals who value their privacy and want to avoid lengthy KYC procedures.

Let’s dive into top exchanges on our list and their features, including trading fees, security measures, supported cryptocurrencies, and user experience.

1. Bisq

Bisq is a decentralized peer-to-peer exchange allowing users to buy and sell cryptocurrencies without  KYC requirements. It operates on a peer-to-peer network using The Onion Router (Tor) anonymity technology for added security. The platform uses open-source software that connects buyers and sellers directly through an escrow system. 

So, no central authority controls the transactions or stores user data. Bisq supports over 100 cryptocurrencies and charges low trading fees ranging from 0.05% to 0.7%, depending on the type of transaction.

2. HodlHodl

HodlHodl is another decentralized exchange that operates similarly to Bisq. However, it offers some added features, such as lending options and futures contracts. This peer-to-peer platform uses multi-signature intelligent contracts to facilitate trustless trades without KYC requirements. 

The platform does not store user funds or require KYC verification, making it a popular choice among privacy-focused traders.

HodlHodl also offers competitive fees and supports a wide range of cryptocurrencies and various payment methods, such as bank transfers, PayPal, Skrill, and more.

3. LocalCoinSwap

Formerly known as LocalEthereum, LocalCoinSwap has expanded its services to include other popular cryptocurrencies while still focusing on Ethereum trades between individuals using fiat currencies like USD or EUR. With over 250 payment methods available, LocalCoinSwap is an excellent option for liquidity on a no KYC exchange platform. 

It enables users to trade directly with other individuals without disclosing personal information or going through third-party verification processes. For added security, users can choose between traditional escrow and smart contract-based escrow.

4. BitQuick 

As its name suggests, BitQuick aims to provide quick and easy access to buying Bitcoin without requiring any identification documents or personal details from its users. Transactions are completed within minutes using cash deposits at local bank branches or online banking transfers.

BitQuick also offers competitive fees for buying and selling cryptocurrencies on its platform. The fees are based on a tiered structure with lower fees for higher-volume trades, making it cost-effective for small-scale traders and high-volume investors.

5. Altilly

Altilly is a multi-asset exchange offering trading for over 300 cryptocurrencies without KYC requirements. However, it takes security very seriously, as evidenced by its use of cold storage wallets to protect users’ funds. These wallets are not connected to the internet, making them nearly impossible for hackers to access. 

Additionally, they utilize advanced encryption methods and 2FA to secure user accounts further. With its robust security measures, low fees, extensive coin selection, and user-friendly interface, it has become one of the top picks for no KYC exchanges in the cryptocurrency market.

6. ChangeNOW

This non-custodial instant cryptocurrency exchange allows users to swap between over 200 cryptocurrencies anonymously without creating an account or going through any verification processes. It guarantees the best rates and does not store personal information, making it a popular choice among privacy-conscious individuals.

One of the main features that sets ChangeNOW apart from other exchanges is its ability to offer instant cryptocurrency swaps. This means that users can easily exchange one cryptocurrency for another without waiting for confirmations or dealing with complicated trading processes. The exchange supports over 170 cryptocurrencies, making it one of the most diverse platforms.

7. Changelly 

Unlike the other exchanges on our list, which operate as peer-to-peer platforms, Changelly is a centralized exchange that allows users to swap between cryptocurrencies quickly and easily. It does not require KYC for most transactions, but it may ask for identification verification in some cases, particularly for large orders. 

Another standout feature of Changelly is its fast transaction processing time. Unlike some other exchanges, where transactions can take hours or even days to complete, Changelly prides itself on completing most transactions within 5-30 minutes. This makes it an ideal choice for those looking to make quick trades or purchases without delays.

What Are the Drawbacks of Using No KYC Exchanges

No KYC exchanges offer a level of anonymity that many investors find appealing. While this may seem attractive, no KYC has potential drawbacks regarding regulation, features, and security risks. Investors should carefully weigh these pros and cons before deciding whether to use any exchange.

👎 Lack of Regulation

Since there are no strict guidelines or regulations, there is a higher risk involved when trading on these platforms.

👎 Limited Features

No KYC exchanges may offer limited features compared to traditional exchanges, which means no advanced trading tools and options for margin trading.

👎 Potential Security Risks

With anonymity comes a higher risk of security threats like hacking and theft. 

👎 Fewer Options

No KYC exchanges often have lower trading volumes and liquidity than their regulated counterparts. So, prices fluctuate more rapidly, and fewer trading pair options may exist.

Even if your exchange does not require KYC, you are still legally obligated to report any capital gains, losses, and income generated from your cryptocurrency investments on your taxes. However, reporting cryptocurrencies in your tax filings can be a complex task.

You can consult a Certified Public Accountant (CPA) to stay informed about any changes in tax regulations and understand all relevant laws and guidelines. Or, you can use doola’s tax compliance package, which simplifies the process of tracking and recording crypto transaction data, making it easier to fulfill their tax obligations without hassle.

doola: Your Key to Smart Investment

When to Choose doola

If you value your privacy above all else and do not want your personal information tied to your cryptocurrency transactions, a no-KYC exchange may be the right choice for you. These exchanges allow you to trade without disclosing personally identifiable information, giving you complete control over your data. However, if security and liability are also a concern, setting up an Investment LLC or Limited Liability Company may be a better choice in the long run.

With doola, you can form an LLC for limited liability protection and mitigate potential risks associated with individual investments. This also enables you to diversify your portfolios more quickly than investing as individuals. Additionally, LLCs can often provide tax benefits that individual investors would not be eligible for.

doola's website is for general information purposes only and doesn't provide official law or tax advice. For tax or legal advice we are happy to connect you to a professional in our network! Please see our terms and privacy policy. Thank you and please don't hesitate to reach out with any questions.

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