14 Best No KYC Crypto Exchanges in 2024 (2024)

Best for margin trading

BYDFi is a Singapore-based exchange that operates in over 150 countries, offering its trading services to a global user base. While this is a no-KYC crypto exchange, the platform offers fiat deposits through third parties, which require KYC on that respective platform (Banxa, XanPool, Transak, Ramp, Paxful, Coinify and Mercuryo).

Note that the KYC process on the BYDFi platform is only required for deposits through Indonesian, Vietnamese, or Thai fiat channels. Also, these users must complete 20% of the transaction deposit amount on Lite Contracts or perpetual contracts before withdrawing.

Pros

• Crypto margin trading accounts available
• Competitive fees for trading
• More than 50 fiat currencies are accepted

Cons

• No crypto staking feature offered
• Absence of phone customer support
• No advanced trading features

CoinEx is a centralized exchange (CEX) that has a host of products. Alongside its trading platform, the platform offers a spectrum of services, encompassing a mining pool, cryptocurrency wallet, proprietary blockchain, and an ecosystem-focused investment platform.

Utilizing an internally developed proprietary trading engine, the platform boasts a user-centric approach, capable of efficiently managing up to 10,000 transactions per second (TPS). Founded in 2017, CoinEx stands as a CEX located in Hong Kong, but serves a global class of customers.

Pros

• Proof of reserves
• Multiple products, including Futures and Earn features for idle assets
• 10,000 transactions per second

Cons

• Not available in U.S.
• Payouts in native CET token

Kraken is a worldwide crypto exchange that offers four levels of user verification: Starter, Express, Intermediate, and Pro. You can use Kraken as a no KYC crypto exchange if you stick to the Starter verification level, which only requires your email, name, date of birth, phone number and physical address. No other documents are needed, such as ID, proof of address or a selfie.

For the Starter verification level, which can be considered a no-KYC level, your account will be allowed to withdraw up to $5,000 in crypto in a 24-hour window. The deposits are unlimited for the Starter level.

However, it’s important to note that depending on your country of residence, certain restrictions may apply regardless of the verification level. These restrictions could impact your ability to deposit or withdraw cryptocurrency or cash.

Pros

• A wide range of digital assets
• Low fees for Pro users

Cons

• Limited funding options
• Starter level can’t use credit/debit card for funding
• Not available in all U.S. states

Margex is as a cryptocurrency trading platform. Operating from its base in Seychelles, the platform boasts several notable attributes. Specifically, it stands out with an impressive average execution time of just 8 milliseconds.

Furthermore, it maintains a substantial order book, aggregating a total worth exceeding $40,000,000, sourced from a network comprising over 12 liquidity providers. Equally remarkable is its capacity to handle up to 100,000 transactions per second (tps).

Pros

• Mobile support
• Low fees
• Fast execution
• Multiple order types
• Low minimum deposit

Cons

• Restrictions based on regions
• No native fiat support

Changelly is a fantastic instant exchange platform that offers quick and secure cryptocurrency transactions without requiring the complicated KYC verification process. With Changelly, you can easily exchange one cryptocurrency for another in just a few simple steps. Within 30 minutes or even less, you’ll have your new crypto safely stored in your wallet.

What’s great about Changelly is that they prioritize the security of your funds. They don’t store your money, ensuring that your assets remain protected. On this platform, you have the flexibility to trade over 400 different cryptocurrencies at fixed or floating rates. Additionally, you can even purchase cryptocurrencies using more than 90 fiat currencies.

Pros

• User-friendly interface
• No hidden fees
• Offers both fixed and floating rates

Cons

• No built-in wallet
• Depending on the specific crypto you’re purchasing, they have different partners, which may ask for a KYC verification

Apex is a great option for a no-KYC crypto exchange because it is a non-custodial trading platform with limitless cross-margined perpetual contracts

The platform uses the order book model, combining the security and transparency of decentralized exchanges (DEX) with the speed and usability of centralized exchanges (CEX).

Apex has low fees and great leverage and offers instant settlement for amplified earnings and optimized trade sizes. It aims to become the bridge between order book trading and permissionless trading.

Pros

• ApeX Pro DEX offers low maker and taker fees of 0.02% and 0.05%, respectively, with zero network charges.
• Users have the potential to earn rewards through staking, referrals, trade-to-earn incentives, and more.
• There are no minimum investment requirements, no KYC (Know Your Customer) or signup requirements. The user interface is designed to be user-friendly, taking inspiration from Bybit.
• The ApeX Pro DEX is a non-custodial platform developed and backed by Bybit

Cons

• Limited trading pairs compared to other platforms
• The platform is not available for traders in the United States
• Lower leverage than competitors
• Withdrawals from ApeX Pro DEX can take up to found hours for slow withdrawals with a $1 fee over layer-2 (L2), while fast withdrawals incur a $5 fee

MEXC offers a wide range of unique trading products and crypto financial services, with over 2600 coins, which surpasses many other centralized exchanges.

Traders have the option to trade on spot, margin, and ETF markets, including the ability to take 3X long and short positions on various coins. The platform has a native token MX, and holders have multiple benefits, including fee reductions, project voting, lottery bonuses, and more.

MEXC also offers a user-friendly mobile app, which is available for both iPhone and Android devices.

Pros

• Yield earning opportunities
• Extensive selection of coins and trading pairs
• Derivative instruments
• Advanced charting and trading tools for in-depth analysis and strategy development.

Cons

• The wide range of offerings may make the platform complex to navigate and understand for some users.
• Smaller liquidity compared to competitors due to the absence of partnerships.
• The founding team and executives don't have a very interactive presence.
• Flat fee schedule may not be as flexible or tailored to specific trading needs.

Pancakeswap is one of the most popular decentralized exchanges on the BNB blockchain. It is a fork of Uniswap, and has since added to the platform in its V2 and V3 versions of the decentralized application.

Pancakeswap was created in 2020 by a group of anonymous developers. It uses an automated market maker (AMM) mechanism to source liquidity from users. Pancakeswap is active on BNB chain, EVM-compatible blockchains and layer 2’s, and even the Aptos blockchain. The DEX allows you to spot trade, trade derivatives, earn, and bridge assets.

Pros

• Low trading fees, making it more affordable for trading activities.
• Large user base and active community.
• Supports trading of a huge variety of cryptocurrencies.
• Offers derivatives, providing additional trading opportunities for users.
• Has a bridge for moving between chains.

Cons

• Restricted in certain geographic locations.
• Some assets may have limited liquidity.

With over 1,700 cryptocurrencies available for trading, Gate.io stands out for its vast selection, including top market cap coins and less common tokens that are difficult to find on other exchanges.

The platform supports approximately 50 fiat currencies, and provides a feature-rich trading experience while it maintains reasonable trading fees, with the highest fee capped at 0.2%. Customers can also explore options to reduce fees further, such as utilizing Gate.io’s utility token.

Gate.io operates in over 200 countries, catering to a wide range of users worldwide. However, certain advanced features may not be available in specific countries, including the United States.

Pros

• Wide variety of cryptocurrencies available for trading.
• Accepts approximately 50 fiat currencies for easy trading.
• Offers advanced trading features for experienced users.
• Trading fees are reasonable.

Cons

• Uncertain regulatory status in some U.S. states
• Not so user-friendly interface
• High deposit fees may deter some users.

dYdX is a decentralized exchange built on the Ethereum blockchain, enabling users to trade ERC-20 tokens and ETH through smart contracts. It prioritizes user privacy by operating as a non-KYC exchange, ensuring that personal information is not required.

The platform boasts high liquidity, thanks to its utilization of margin trading. However, it’s important to note the potential risk of liquidation associated with margin trading. To access dYdX, users must possess an Ethereum compatible wallet. Furthermore, it’s worth mentioning that the exchange offers a limited selection of trading pairs.

Pros

• Offers low fees, particularly beneficial for average users
• Utilizes Zk-rollups technology, enhancing scalability and efficiency
• Opportunity to earn interest through lending activities

Cons

• Limited number of assets available for swaps
• Interest rates offered may vary, depending on your trading volume.
• Fiat deposits are available through third party which require KYC

ChangeNOW is a versatile and user-friendly platform that offers convenience and security. With partnerships with major crypto industry players, it provides access to nearly 400 cryptocurrencies and 70,000 trading pairs.

Unlike other platforms, ChangeNOW has no upper trading limits, making it appealing for large cryptocurrency swaps. It also prioritizes user privacy by not requiring personal information for access. ChangeNOW consistently adds new assets, including those participating in DeFi ecosystems. As a non-custodial service, it ensures users have full control over their assets, and it supports nearly 60 fiat currencies for added flexibility in trading.

Pros

• It's an easy-to-use, non-custodial service
• No hidden fees.
• It supports a wide range of assets, including NFTs

Cons

• Fiat currencies are accepted for buying crypto, but require KYC
• Not every fiat currency is available

Bisq stands out as a well-known decentralized exchange that prioritizes decentralization and user ownership. Its key perks include increased privacy, lower fees, and maintaining control over your crypto assets.

The exchange offers various payment options, allowing you to buy crypto using U.S. dollars through cash deposits, Zelle payments, or electronic transfers. With instant approval and no geographical restrictions, Bisq ensures convenient and accessible trading for all users. By eliminating the need for depositing funds, Bisq provides users with control over their assets and emphasizes security by storing personal and banking information locally on users’ computers.

Pros

• Decentralized exchange
• Flexible payment options
• Instant approval
• No geographical restrictions
• Enhanced security

Cons

• Decentralization may not suit everyone
• Basic application interface
• Potential for fraud

BingX is also a great choice as a no-KYC crypto exchange, as it offers a fully functional spot and derivative markets with a wide selection of over 250 cryptocurrencies.

You can use it to convert crypto quickly or to access the advanced trading platform with charting tools, live order books, multiple order types, and a grid trading bot.

The platform also offers a copy-trading feature that allows beginners to follow successful traders and potentially earn from their trades.

Pros

• Copy-trading feature
• Trading fees are capped at 0.2%
• Access to 24/7 live chat support for prompt assistance.
• Intuitive mobile app for convenient trading on the go.

Cons

• Lack of support for fiat currency deposits, limiting trading options to third-party purchases only.
• Limited information provided on asset cold storage and specific security measures in place.
• Crypto-to-crypto transactions restricted to USDT trading pairs

Bitfinex, established in 2012, is a well-established cryptocurrency exchange and one of the largest in terms of trading volume. It offers a wide range of cryptocurrencies, including bitcoin, ethereum, and many others.

The platform provides a user-friendly trading experience with advanced charting tools, order depth charts, and quick access to buy and sell supported currencies. Bitfinex maintains relatively low trading fees, making it cost-effective for users.

Pros

• Competitive trading fees
• Support for margin trading, derivatives, and advanced order types
• Paper trading and mobile app suitable for beginners

Cons

• History of regulatory missteps and fines
• Questionable involvement with the Tether currency
• Not available in the United States