14 Non-KYC Exchanges (May 2025)

Looking for a way to buy, sell, and trade crypto without providing KYC information? 

In this guide, we’ll share everything you need to know about KYC regulations and go through 14 exchanges that allow you to trade crypto with no KYC. 

Note: KYC policies change frequently. This article is updated regularly to reflect each exchange’s current KYC policies. 

What is KYC? 

KYC stands for Know Your Customer. This refers to a set of standards and regulations that allow financial institutions to verify a customer’s identity. KYC laws were originally put into place to protect against money laundering and terrorist activity.

Exchanges with KYC policies will ask you for information like your name, address, a copy of government-issued ID, and a selfie of you upon signup.

14 Non-KYC exchanges 

Let’s walk through 14 exchanges that allow users to trade cryptocurrencies without KYC. 

Hodl Hodl 

Hodl Hodl is a P2P Bitcoin trading platform. Unlike other exchanges, Hodl Hodl does not hold customer funds. Instead, the platform locks Bitcoin in escrow.

Hodl Hodl offers a variety of different payment options for peer-to-peer transactions. This includes bank transfers and in-person payments. 

At this time, Hodl Hodl does not require KYC for users. 

MexC

MexC is a cryptocurrency exchange founded in 2018 and headquartered in Seychelles. 

You can get started using the platform with no KYC. However, MecX does require KYC for certain types of transactions, such as crypto-to-crypto and derivative trades. 

For years, MexC was one of the most popular no KYC exchanges in the United States. However, MexC stopped offering services to US customers in 2023. Trying to get around this restriction with a VPN may lead to you losing access to your crypto.

Changelly 

Changelly is a cryptocurrency exchange founded in 2016 and headquartered in the Czech Republic. 

You can get started with Changelly simply by providing your email address. You will need to provide more information to unlock more advanced features, such as paying for cryptocurrencies with fiat currencies. 

Changelly is not available in the USA.

ByBit 

ByBit is a crypto derivatives exchange founded in 2018 and based in Singapore. 

At this time, ByBit does not require KYC to create an account. However, the exchange’s withdrawal limit is 100K USDT monthly for accounts with no KYC.

ByBit is not available for customers in the U.S. and the UK. To use the site, you must confirm that you are not from a restricted country. 

TradeOgre 

TradeOgre is one of the original no-KYC cryptocurrency exchanges that still operates under the radar. 

The exchange allows users to buy and sell cryptocurrencies like Bitcoin as well as privacy-focused coins like Monero. At this time, TradeOgre does not collect KYC information from customers. 

TradeOgre is available in the US.

Pionex 

Pionex is a popular cryptocurrency exchange and trading bots that offers more than 300 cryptocurrencies for trading! 

Pionex offers different levels of KYC verification — including Unverified, Level 1, and Level 2. You can trade, withdraw, and deposit cryptocurrencies after providing just your name and country (no ID required!) 

While Pionex is not available in the US, American users can use Pionex.US (which has stricter KYC procedures to stay compliant with American regulations). 

CoinEx 

CoinEx is a Hong-Kong based cryptocurrency exchange that offers more than 700 cryptocurrencies! 

CoinEx allows you to trade cryptocurrency without KYC. However, the platform has significantly higher withdrawal and deposit limits for users who verify their identity. 

Unfortunately, CoinEx is not available in the US.

RoboSats 

RoboSats is a peer-to-peer exchange built specifically for Bitcoin. Because the network is peer-to-peer, there’s no KYC requirement — the platform allows you to get started trading Bitcoin with just your email address! 

RoboSats uses a Lightning Network integration so that your Bitcoin transactions will finalize within minutes! 

RoboSats is available in the US. Currently, the platform only allows users to trade up to $1,400.

Bisq 

Bisq is a decentralized exchange built for Bitcoin trading only. Bisq is open source and peer-to-peer — meaning that no identity verification is required!

Bisq allows you to pay for Bitcoin using a variety of different methods — ranging from ACH to face-to-face transfers!

Bisq is available in the US. 

ProBit 

ProBit is a cryptocurrency exchange founded in 2018 and headquartered in Seychelles. 

You can get started trading cryptocurrencies on ProBit with email verification only. The withdrawal limit for accounts with email verification is $5,000, while the withdrawal limit for accounts with full KYC is $500,000. 

ProBit is not available in the US.

Uniswap 

Uniswap was founded in 2018 by Hayden Adams. Today, Uniswap is one of the world’s biggest decentralized exchanges. 

At this time, decentralized exchanges like Uniswap don’t collect customer information. All you have to do to get started is plug in your Ethereum wallet. 

Uniswap is available in the US and most other jurisdictions. 

SushiSwap 

SushiSwap was originally created as a hard fork of the Uniswap protocol in 2020. Today, the protocol has more than $700 million in Total Value Locked. 

SushiSwap is available in the US and most jurisdictions. 

PancakeSwap 

PancakeSwap is a decentralized exchange built on the Binance Smart Chain (BSC). The BSC is EVM-compatible — meaning that it’s easy to port over assets from the Ethereum blockchain! 

The BSC is well-known for offering lower gas fees than other blockchains. All you need to get started is a Trust Wallet or another BSC-based wallet!

PancakeSwap is available in the US and most other jurisdictions.

dYdX 

dYdX is a decentralized exchange founded in 2017 by Antonio Juliano. dYdX allows users to trade cryptocurrencies like ETH and DAI using leverage. 

Like other decentralized exchanges, dYdX does not require KYC. 

dYdX is currently not available in the US. 

Are crypto mixers legal in the US?

Tornado Cash — a service that mixed ‘identifiable’ cryptocurrency with cryptocurrency that couldn’t be identified — was banned by the United States in 2022. In recent years, the US government has targeted crypto mixer services over money laundering concerns.

It’s recommended to stay away from crypto mixing services to avoid running afoul of regulations. 

Why might someone avoid KYC in crypto? 

Crypto investors seek out non-KYC exchanges for several reasons. 

Right to privacy: The right to privacy and the importance of anonymity have long been central tenets of the cryptocurrency ecosystem. 

Access to more cryptocurrencies: Non-KYC exchanges often have access to newer cryptocurrencies that are not yet available on regulated exchanges. 

Don’t want to wait for validation: Validating your identity can take time. Non-KYC exchanges often can offer investors instant access to trades. 

Are non-KYC exchanges safe? 

In general, non-KYC exchanges are not as safe as their regulated peers. 

Non-KYC exchanges often don’t operate with the same consumer protections as their regulated counterparts. In the case of an exchange bankruptcy or shutdown, you may lose access to your funds permanently. 

Will the government crack down on non-KYC exchanges? 

It’s possible that some of the non-KYC exchanges listed below may change their policies in the future. In 2021, Binance started requiring KYC for all new users after years of pressure from regulators. 

Starting in 2026, all exchanges operating in the US — centralized and decentralized — will be required to issue Form 1099-DA to customers and the IRS. To comply with these requirements, exchanges will be required to collect KYC information. 

Should I use a decentralized exchange to avoid KYC?

At this time, decentralized exchanges don’t have KYC. 

Still, it’s important to note that you’ll typically need to transfer your cryptocurrency to a centralized exchange to convert to fiat. 

If you’ve transferred cryptocurrency between a decentralized wallet and a centralized exchange where you provided KYC information, it’s likely that the IRS will be able to identify you as the owner of the wallet. 

It’s important to note that upcoming 1099-DA regulations will apply to decentralized exchanges. As a result, exchanges like Uniswap will soon be required to introduce KYC policies to comply with these requirements.

Is KuCoin a non-KYC exchange? 

KuCoin started requiring KYC for customers in 2023.

This policy change shows the pressure that no-KYC exchanges are facing around the world. It’s likely that many of the exchanges listed above will introduce KYC policies in the near future due to increased pressure from governments.

Which non-KYC exchange has the lowest fees? 

Changelly is known for offering low fees up to 0.25% However, advanced features on Changelly are only available upon verifying your identity.

Can the IRS track me if I use a non-KYC exchange? 

It’s important to remember that the IRS can track your transactions, even if you do use a non-KYC exchange. 

Remember, transactions on the blockchain are publicly visible and permanent. In the past, the IRS has worked with contractors like Chainalysis to link ‘anonymous’ wallets to known individuals.

Do I have to report transactions from non-KYC exchanges on my tax return? 

Even if your exchange doesn’t KYC, you are still legally required to report any capital gains, losses, and income generated from your crypto investing activity on your taxes. Remember, tax evasion is a serious crime with serious consequences. The maximum penalty for tax evasion is a prison sentence of up to 5 years and a fine of $100,000.

Once 1099-DA reporting requirements go into effect, it’s likely that the government will have the means to track your previously unrelated transactions.

In addition, not reporting transactions from non-KYC exchanges can cause issues if you’re using multiple wallets. Consider the following scenario. 

If Zack decides not to report his trades from Uniswap, he now has UNI in his Coinbase account with no cost basis and no explanation of how he acquired it. This can cause tax reporting issues in the future.
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