- 1. What is KYC in crypto?
- 2. Top 6 cryptocurrency exchanges without KYC
- 3. Factors to consider when choosing a crypto exchange without KYC
- 4. Advantages of non-KYC crypto exchanges
- 5. Limitations of non-KYC crypto exchanges
- 6. Can I withdraw cryptocurrency without going through KYC?
- 7. Conclusion
- 8. Frequently Asked Questions
Best No KYC Crypto Exchanges for 2025
Exchanges with no KYC are trading platforms that do not require mandatory user verification for cryptocurrency transactions (trading, deposit/withdrawal, and so on). Currently, most centralized exchanges require KYC, but not all users are willing to provide their personal information to crypto exchanges. For those who do not want to upload documents to the exchange, there are platforms without mandatory verification.
In this article I will detail how to choose a crypto platform without verification and what you should pay attention to. The review also includes top 6 crypto exchanges without verification.
What is KYC in crypto?
KYC, or Know Your Customer, is a procedure for the user of an exchange to identify themselves by providing the exchange with identity documents. The main purpose of verification is to combat scammers, anti-money laundering and tax evasion.
Customer verification is a necessary requirement of market regulators and is one of the main factors in obtaining a license for a crypto platform. Exchanges that work only with verified users are considered more reliable (for example, ByBit), but there is always a risk of data leaks because of hacker attacks or carelessness and bad faith on the part of the platform’s administration. There are many cases of documents that were previously used to verify accounts getting leaked into the network.
As practice shows, not all platforms follow the rules of regulators regarding KYC. Many crypto exchanges simplify the KYC procedure as much as possible, requiring only the user to only provide a passport, without the need for videos or selfies.
The KYC requirement contradicts the basic idea of cryptocurrencies as a concept – anonymity and privacy of payments. Despite this, a survey conducted by the Kickex exchange showed a positive attitude of traders towards mandatory verification for all participants. 624 users participated in the survey. Almost 42% of respondents chose exchanges with mandatory KYC. Another 24.7% approve of the need for verification. Only 12.7% are completely against this procedure.
AML
Along with KYC, CEX exchanges also apply AML (Anti-Money Laundering) verification, which is, as the name implies, aimed at combating money laundering. The point of this verification method is to check the origin of financial assets. For example, whether or not the coins were involved in illegal activities (drug trafficking, terrorism financing, etc.).
Top 6 cryptocurrency exchanges without KYC
When compiling the list of platforms without mandatory verification, I took into account such indicators as:
- Our own experience of interacting with the platform;
- Rating and user reviews;
- Possession of a license;
- Trading volume;
- Limits on crypto deposit/withdrawal;
- Number of users on the platform;
- Functions available without verification.
1. MEXC
Address: http://www.mexc.com
- Available without KYC: spot, futures, cryptocurrency deposit/withdrawal;
- Not available without KYC: P2P, fiat deposit/withdrawal;
- Withdrawal limit without KYC: 10 BTC/day;
- Withdrawal limit with KYC: 80 BTC/day (basic) and 200 BTC/day (extended);
- Commission: 0-0.01%/0.02% (maker/taker).
MEXC is a centralized cryptocurrency platform operating since 2018. In 2021, MEXC platform won the prestigious “Asia’s Best Crypto Exchange” award at an event in Dubai. The exchange has about 10 million registered users from more than 170 countries.
The platform positions itself as a universal crypto exchange for trading and investing that is suitable for both beginners and professionals. You can trade crypto here on spot and futures markets with the use of leverage. For passive earnings, a savings option is offered, as well as a multi-level referral program.
MEXC offers its users without ID verification withdrawals of up to 10 BTC/day. To increase the limit up to 80 BTC/day, it is enough to upload just one user ID document. Extended verification allows you to withdraw up to 200 BTC/day and requires you to additionally take selfies.
Among the advantages of this platform the main ones are:
- low commissions;
- A variety of crypto pairs;
- high withdrawal limit for non-verified accounts;
- the speed of the trading terminal (1.4 million transactions per second).
Based on my personal experience, I can say that I have repeatedly withdrew funds from MEXC without verification, and there were no problems. The withdrawal process takes up to 10 minutes. The mobile application is also worth mentioning, since it copies the web version of the platform almost to a tee. Users gave it 4 stars on the Google Play. The only disadvantage of MEXC is the large number of notifications that pop up in the web version and cover the whole screen.
2. HTX
Address: https://www.htx.com
- Available without KYC: spot, futures, cryptocurrency deposit/withdrawal;
- Not available without KYC: P2P, fiat deposit/withdrawal, purchases via debit card or transfer;
- Withdrawal limit without KYC: 5 BTC/day;
- Withdrawal limit with KYC: 3000 BTC/day;
- Commission: 0.2%/0.2% (maker/taker).
HTX is a centralized cryptocurrency exchange that used to be called “Huobi”. The company has several valid licenses. The platform offers more than 700 cryptocurrencies for spot and futures trading. The “Earn” section offers various options for passive earning on digital assets (staking, Shark Fin, bi-currency investments).
The number of HTX users (more than 45 million) indicates the amount of trust they are willing to give the platform. The exchange has been operating since 2013 and during this time it has obtained licenses in such countries as Lithuania, UAE, British Virgin Islands, Australia, as well as in some regions of South America.
HTX provides a high level of security. For example, customer funds are stored on cold wallets. Several options are available to users to protect their account from unauthorized access, such as two-factor authentication (2FA), anti-phishing code, payment password and emergency contact setting. HTX regularly publishes reports on its reserves using the Merkle Tree structure.
HTX’s policy for unverified users is highly loyal: a withdrawal limit of up to 5 BitCoins every 24 hours is offered. A total of 5 levels of verification are available on the platform. The highest one allows you to withdraw up to 3000 BTC/day.
3. CoinEx
Address: http://www.coinex.com
- Available without KYC: spot, futures, cryptocurrency deposit/withdrawal;
- Not available without KYC: P2P and special offers;
- Withdrawal limit without KYC: $10,000 (24 hrs)/$50,000 (30 days);
- Withdrawal limit with KYC: $1,000,000;
- Commission: 0.2%/0.2% (maker/taker).
The CoinEx exchange launched in 2017 and operates in more than 200 countries around the world. The platform is headquartered in Hong Kong and is registered in the Republic of Samoa. The exchange offers more than 800 cryptocurrencies and 1500 crypto pairs. Spot and futures trading with the possibility of applying leverage is available. The efficiency of transactions is increased due to the high speed of transaction processing (more than 10,000 transactions/sec). CoinEx also has many programs for passive earnings available: staking, AMM, crypto-loans, mining pools and a referral program.
In addition to the exchange itself, the CoinEx ecosystem includes:
- Decentralized wallet;
- Blockchain explorer;
- A platform for developing blockchain applications;
- Charity blockchain organization;
- Custom CET token. Thanks to this coin, fees can be paid at a discounted rate. For example, the prime rate of 0.2% for spot trading can be reduced to 0.16%.
The cryptocurrency exchange has a special CoinEx Shield Fund, which is designed to compensate for losses due to unforeseen circumstances. It is funded at the expense of 10% deductions from trading commissions.
From my own experience of interacting with CoinEx I can note a convenient interface, as well as a high speed of the terminal (although some bugs were noticed prior). On the start page there is a convenient feed with news and coin rating.
4. Phemex
Address: http://www.phemex.com
- Available without KYC: spot, futures, investing, deposit/withdrawal of digital assets;
- Not available without KYC: fiat deposit/withdrawal, P2P, launchpads, launchpools, custom exchange card and additional bonuses;
- Withdrawal limit without KYC: $50,000/day;
- Withdrawal limit with KYC: from $100,000 (basic) up to $2,000,000 (extended);
- Commission: 0.1%/0.1% (maker/taker).
Phemex is a crypto exchange founded in 2019, created by former top managers of Morgan Stanley. The platform is registered in an offshore jurisdiction in the British Virgin Islands. On the platform you can conduct transactions on spot and futures. Margin trading is also supported. When paying commissions with the internal PT token, you can get a 20% discount. Phemex offers good staking conditions for popular coins: for example, the rate for USDT is 10%. The exchange provides the opportunity to get a Visa or Mastercard on favorable terms.
It is worth noting the high rating of the exchange’s mobile application (4.5 stars). First of all, the high rating was obtained due to the convenience of the interface. The terminal is characterized by good performance (300 000 operations per second (TPS).
Phemex is one of the first exchanges where I started trading cryptocurrencies. I chose it because of its easy to user-friendly interface, the availability of a demo account, and a training program for beginners. In the online academy of the exchange there are more than 800 articles on the topic of digital assets. If you have any questions, the prompt support service will help you.
5. CoinW
Address: http://www.coinw.com
- Available without KYC: spot, futures, cryptocurrency deposit/withdrawal;
- Not available without KYC: P2P, extra bonuses, buying cryptocurrency with debit card, AirDrop, Coinw Card;
- Withdrawal limit without KYC: 2 BTC/day;
- Withdrawal limit with KYC: up to 100 BTC/day;
- Commission: 0.2%/0.2% (maker/taker).
CoinW is a centralized exchange founded in 2017. More than 300 cryptocurrencies with a high level of liquidity are present on the platform. Spot, futures, P2P, mining and OTC are available for its users. It is possible to conduct transactions with ETFs. To increase the efficiency of trading, beginners are offered copytrading, and professionals are offered trading bots. The CoinW Card with a daily limit of up to $20,000 is available for clients who have undergone advanced verification.
Users without experience will be interested in the PropW trading simulator with a demo account (up to $200,000). Successful demo trading can become financially rewarding, but before that you need to choose a tariff plan and pay for registration.
There are 4 levels of ID verification on the CoinW platform. The initial level does not require the user to provide any identity documents. The maximum level allows you to withdraw up to 100 BTC/day and opens additional features such as debit card deposits and P2P.
6. LBank
Address: http://www.lbank.com
- Available without KYC: spot, futures, cryptocurrency deposit/withdrawal;
- Not available without KYC: P2P, debit card purchase, LBank Card;
- Withdrawal limit without KYC: up to $30,000;
- Withdrawal limit with KYC: set individually;
- Commission: 0.1%/0.1% (maker/taker).
LBank is a multi-functional centralized exchange that has been operating since 2015. The crypto platform holds licenses in Italy, USA, Canada, Australia and Lithuania. The exchange provides a variety of tools for trading and investing. Among the main ones are the spot and futures market (including ETFs), P2P, staking, Launchpad and crypto loans. Experienced crypto traders are offered trading with leverage up to x125, while beginners are offered copy-trading.
On this platform you can buy popular crypto (BTC, ETH, USDC and USDT) via debit cards (about 200 fiat currencies are supported). LBank supports payments via Google Play, Apple Pay, bank transfer, e-wallets and via other methods. In total, more than 20 payment methods are available.
The LBank platform provides a high level of security. The exchange regularly publishes reports using the Merkle Tree (POR) methodology. Google Authenticator (2FA), IP address whitelisting, anti-phishing code, login via SMS code, etc. are available for account protection. LBank allows you to make a quick withdrawal of crypto with only one e-mail confirmation.
Comparative table of exchanges without KYC
The table presents the main characteristics of exchanges from the TOP-6 list.
| MEXC | HTX | CoinEx | Phemex | CoinW | LBank | |
|---|---|---|---|---|---|---|
| Available without KYC | spot, futures, cryptocurrency deposit/withdrawal; | spot, futures, cryptocurrency deposit/withdrawal; | spot, futures, cryptocurrency deposit/withdrawal; | spot, futures, investing, digital assets deposit/withdrawal; | spot, futures, cryptocurrency deposit/withdrawal; | spot, futures, cryptocurrency deposit/withdrawal; |
| Not available without KYC | P2P, fiat deposit/withdrawal; | P2P, fiat deposit/withdrawal, purchase with debit card and transfer; | P2P, specials; | fiat deposit/withdrawal, P2P, lunchepads, lunchepools, exchange card and extra bonuses (extended verification); | P2P, extra bonuses, buying cryptocurrency with debit card, AirDrop, Coinw Card (extended); | P2P, buying crypto with debit card, LBank Card; |
| Withdrawal limit without KYC | 10 BTC/day; | 5 BTC/day; | $10,000 (24 hours)/$50,000 (30 days); | up to $50,000/day; | 2 BTC/day; | up to $30,000/day; |
| Withdrawal limit from KYC | 80 BTC/day (basic) and 200 BTC/day (extended); | 3000 BTC/day; | $1,000,000; | $100,000 (basic) to $2,000,000 (extended); | up to 100 BTC/day; | configurable individually; |
| Commission | 0-0.01%/0.02% (maker/taker); | 0.2%/0.2% (maker/taker); | 0.2%/0. 2% (maker/shaker); | 0.1%/0.1% (maker/shaker); | 0.2%/0.2% (maker/shaker); | 0.1%/0.1% (maker/shaker). |
Factors to consider when choosing a crypto exchange without KYC
When choosing a CEX exchange that does not require mandatory verification, you should take into account such criteria as:
- Reputation and experience. The longer the exchange works on the market, the higher its reliability. Periods where there are no unpleasant incidents (for example, mass freezing of payments) are especially significant in determining a platforms success;
- Licenses. Exchanges that have received authorizations from regulators are more reliable;
- Security level. This category includes methods used to protect the platform from hacking, methods of storing digital assets, proof of reserves, etc.;
- Limits without KYC. This parameter stipulates the maximum amount of crypto withdrawal without verification. Usually non KYC crypto exchanges set daily withdrawal limits;
- Commissions. There are two main types of commissions on exchanges – trading commissions and withdrawal commissions. Their size directly affects the income of the crypto exchange user;
- Number of trading pairs. A large number of crypto pairs on one platform provides a variety of tools for trading, which increases the chances of a trader to make a profit;
- Trading volume. High liquidity allows you to quickly and profitably make transactions with crypto;
- The work of the support service. In case of difficulties in interacting with the exchange, the support service should promptly help the user to solve the problem.
If you cannot find a suitable option among centralized platforms, you can also consider decentralized exchanges (DEX). Transactions on them are conducted directly from the user’s connected cryptocurrency wallet, without requiring any sort of registration. All processes on DEX are managed by smart contracts, without requiring human participation.
Advantages of non-KYC crypto exchanges
The key advantage of exchanges without KYC is the ability to conduct transactions with crypto without providing identity documents. In this case, the user maintains anonymity of identity and confidentiality of transactions.
Unverified users can be 100% sure that their documents will not get into the wrong hands. If verification is completed, criminals can use the stolen data when hacking the exchange, for example, to sell it on the darknet.
One should also take into account the fact that in case of a request to the exchange from law enforcement agencies, the platform can give out all information about the client. For example, this may be related to tax evasion. If the user has not provided any documents, then the transmitted information will not contain personal data. In most cases, law-abiding users have nothing to fear.
Limitations of non-KYC crypto exchanges
The main restrictions for users on the part of non KYC crypto exchanges are daily withdrawal limits in crypto and inaccessibility of transactions with fiat currencies. As for the crypto withdrawal limit, it is big enough for an average user. If necessary, you can always use several crypto exchanges at once without verification.
Users who have not been verified are more at risk of having their account blocked in case of suspicious transactions. In order to unblock an account, they will be required to provide proof of identity. It is also more difficult for unverified users to recover their account login password.
Risks for platforms working with clients without KYC
If a crypto exchange has received permission (license) and does not comply with KYC requirements, it may face such consequences as:
- Blocking the activities of the exchange in the country where it is registered;
- Revocation of license;
- Freezing of accounts;
- Unscheduled inspection by regulatory authorities;
- An accusation of illegal activities (money laundering, aiding and abetting terrorism) and further legal proceedings.
Can I withdraw cryptocurrency without going through KYC?
On the cryptocurrency platforms I listed, users without verification can freely withdraw crypto to external crypto wallets, but within a set limit. For example, MEXC provides the most loyal conditions for unverified users – up to 10 BTC/day. Most of the exchanges without KYC impose limits for a period of a day. Some platforms also set a monthly limit, for example, CoinEx.
Conclusion
Crypto exchanges without KYC verification are a good option to conduct transactions with digital assets anonymously and confidentially. Nowadays there are enough platforms on the market that allow you to interact with crypto without mandatory verification. Due to that, users can be sure that their personal data is completely safe. The trend towards stricter verification rules and KYC procedures is growing, and I recommend to use the opportunity to make money on crypto exchanges without KYC right now.
Frequently Asked Questions
