Top 5 no KYC / anonymous crypto exchanges in [year]

KYC (Know Your Customer) laws are active in many countries around the world, including the Netherlands and Belgium, to prevent the use of banks and other financial institutions for illegal money laundering by criminals.

These regulations now even apply to cryptocurrency exchanges, much to the surprise of several financial specialists. Withdrawing your money from KYC exchanges is more complicated than depositing.

Know Your Customer (KYC) forces organizations to maintain their records to verify customer identities, especially when moving money. This also applies to digital currencies. This is the reason that most crypto exchanges currently mandate KYC. However, it is not mandatory to use KYC exchanges for crypto trading.

If you value your personal data and you want to keep your own data out of the hands of criminals and third parties, it may be wise to opt for an exchange without KYC. Usually you only need an email address and you can start trading.

We have highlighted five crypto exchanges where you can trade anonymously in cryptocurrencies without KYC checks. Keep in mind that these are crypto to crypto exchanges. Due to current Dutch legislation, you cannot avoid converting crypto to euros without KYC.

# 1 Binance

This Malta-based exchange has more than 10 million active clients and is doing better than Bittrex when you consider active traders and daily trading volume. Binance was founded by Changpeng Zhao, who is known for good communication, loyalty and drive to create more functions. He created the successful Binance Coin (BNB) which has experienced great growth in recent years.

Binance is not only the best known exchange, they also do not require KYC. Opening an account with Binance is completely free. However, there are certain legal limits that you must adhere to.

After creating an account, it is level 1. This means that you are not verified, but not that you cannot do anything with your account. An unverified account is enough for basic transactions. The following limits apply to Binance accounts:

• Level 1 (not verified): 2 BTC in transaction volume every 24 hours.
• Level 2 (fully verified): 100 BTC in transaction volume every 24 hours.
• Level 3 (for whales): more than 100 BTC in transaction volume every 24 hours.

If you don’t trade or withdraw more than 2 BTC per 24 hours, you can use a Level 1 account. Imagine you have to withdraw 4 BTC, so you can choose to withdraw 2 BTC every day for the next two days. Read more about this exchange in our Binance review. Or read our tutorial on how to get started with Binance.

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# 2 ProBit

ProBit is a cryptocurrency spot exchange and was founded in 2018. The South Korean exchange accepts crypto traders from almost every country, with the exception of a few countries. In any case, American traders are welcome. To deposit, withdraw and trade crypto, a KYC is not required and you are allowed here completely anonymous to trade. There is a maximum withdrawal limit of $ 10,000 per 24 hours. If you want to withdraw larger amounts, you could spread this over several days.

Probit Global Service Limited offers more than 400 cryptocurrencies that can be traded directly. The trading fees will never exceed 0.20% and when you trade more you will also receive a discount on the costs. When you hold and stake the native PROB token you will receive an additional discount.

Receive an extra 10% – 40% discount when you pay trading fees with PROB

No KYC is necessary to trade with ProBit

Register now

# 3 ByBit

ByBit is a derivatives trading platform founded in 2018. The exchange accepts almost every user, even from North America, Asia and Russia. ByBit Fintech Limited is the organization behind this exchange and they are based in the British Virgin Islands.

ByBit is a safe platform for anonymous traders engaged in leveraged trading. Probably the best thing about ByBit is its margin trading features and the amount of order options.

You can use ByBit to trade digital currencies. You do not have to go through a KYC procedure to open an account and / or place trades. Find out more in our ByBit review.

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# 4 Phemex

Phemex is a cryptocurrency derivatives and spot trading platform. And they plan to launch many more features in the future. Phemex was founded in 2019 by previous Morgan Stanley veteran, Jack Tao. The platform is owned by Phemex Financial Pte. Ltd. – a legitimate organization in Singapore.

Phemex does not have a KYC mentality and you can trade 100% anonymously. All you need is your email address and password to register on the Phemex platform and thus be able to trade anonymously. Although the company was founded in 2019 and so they are relatively new, you can clearly see that the liquidity and daily trading volume is growing rapidly. Read more about Phemex in our review.

$ 80 bonus at Phemex

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# 5 KuCoin

KuCoin exchange is not complete without a KYC check, there are some conditions to be able to trade anonymously here. If you are a small trader with a volume of max. 2 BTC per day, you can trade anonymously here. When you trade more you have to perform a KYC.

KuCoin was founded in August 2017, the trading platform has more than 200 digital currencies, more than 400 markets and has developed into one of the largest crypto platforms on the web.

Just like major exchanges such as Binance and Huobi, KuCoin has also been transformed into a crypto organization that offers various services to its customers and traders. Read more about this company in our KuCoin review.

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No KYC is necessary to trade with KuCoin

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Conclusion

To summarize everything, an exchange without KYC has many advantages for a trader. For example, it is impossible for their personal information to leak, because the platform has no information about you. It is therefore safer than a KYC exchange. In addition, it is not really necessary to share your personal information with many companies at all. It often happens that personal data is leaked at companies (not only within the crypto space).

There is a good chance that governments will take action against these types of exchanges. So it is quite possible that one of these exchanges will change their rules regarding KYC.

However, trading without KYC is only possible on crypto to crypto exchanges. If you want to switch from fiat to crypto and vice versa, you will unfortunately not come under a KYC. So buying Bitcoin with euros without verification is unfortunately not possible in the Netherlands or Belgium.