The Best No KYC Crypto Exchanges for 2024
The world of cryptocurrency is built on the principles of democratization, decentralization and privacy. For many users, maintaining anonymity while trading digital assets is crucial. Know Your Customer (KYC) protocols, while essential for regulatory compliance, often require users to divulge personal information, which some crypto enthusiasts prefer to avoid.
And some of the best no KYC exchanges of 2023 are now requiring KYC in 2024: MEXC, Kucoin, ByBit, Gate.io, and Bitget.
These are all great exchanges, but now you'll have to pass KYC to use their services. If you really want to trade with them, but you can't pass KYC using your current government issued ID, then you might consider becoming a digital resident of Palau.
But if you prefer to remain anonymous, then read on as we'll explore the best no KYC exchanges for 2024, providing a comprehensive guide for those who prioritize privacy.
Table of Contents
- What Are No KYC Crypto Exchanges?
- Top No KYC Crypto Exchanges in 2024
- WEEX Crypto Exchange
- XT Crypto Exchange
- BingX Crypto Exchange
What Are No KYC Crypto Exchanges?
No KYC crypto exchanges are platforms that allow users to trade cryptocurrencies without requiring identification or personal information. These exchanges are favored by privacy advocates and crypto enthusiasts who wish to keep their trading activities anonymous.
The primary advantage of no KYC exchanges is the ability to trade without revealing personal data, thus reducing the risk of identity theft and misuse of information. However, these exchanges also come with disadvantages, such as limited daily withdrawal limits and reduced access to trading platform features.
And an important thing to keep in mind is that no KYC exchanges are often newer to the market, smaller (i.e. less order book liquidity) and are generally less proven and battle tested by the market. As always... not your keys, not your crypto! With all exchanges, trust is a critical factor. So you must weigh these pros and cons carefully before opting to use a no KYC crypto exchange.
Top No KYC Crypto Exchanges in 2024
Here we will highlight a few of the most promising no KYC exchanges. These exchanges have been around long enough to build up a solid user base, trading platform and a good reputation.
WEEX Crypto Exchange
Is WEEX a trustworthy exchange?
WEEX is a global crypto exchange established in 2018, based in Singapore and has more than 2 million users globally. In 2023, the WEEX team completed a $100 Million Valuation round of Financing led by Korean Digital Marketing Giant FSN. So they are backed by a big name... +1 for trust factor.
WEEX also holds a Money Services Business (MSB) license in the USA and Canada, and an Saint Vincent Financial Services Authority (SVG FSA) License. The MSB license is part of a financial compliance registration program with the Department of the Treasury. Another +1 for trust factor.
With regards to asset management, it is important to know that WEEX does NOT offer a Proof of Reserves (PoR). PoR's are verifiable audits that show the customer assets are held 1:1 in the exchange wallets. My contacts at WEEX say this is something they are working on, but they did not offer a timeline. WEEX does claim to have a 1000 BTC Protection Fund, which is used to insure users against malicious hacks and other types of fund loss. This is not verifiable, as they provide a public BTC wallet address. I checked it while writing this and the balance showed 1000.999 BTC. So... +0.5 for trust factor.
Lastly, it is worth noting that the WEEX exchange supports the LUNC Burn! If you are, were or want to become a #Lunatic, then this is a good reasons to support WEEX. 15% of all LUNC trading fees get sent to the burn wallet. We track their burns in real-time, you can see the WEEX LUNC burn history here.
WEEX Trading Features
WEEX offers a variety of trading options on the website and mobile app platforms, including spot trading, futures, futures pro, and copy trading. You are not able to purchase crypto using fiat currency, so you'll need to bring your own coins and trade from there. And with over more than 110 trading pairs and more added every week, you're sure to find great trading opportunities.
KYC Policy:
KYC is not required to deposit or trade crypto. Daily withdrawal limits are 10 transactions up to 50,000 USDT in value. So you get a pretty generous half-million per day withdrawal limit, very high for a non-KYC exchange.
Pros and Cons:
While the lack of a zero-knowledge Proof of Reserves is disappointing, overall, WEEX appears to be working hard on compliance, security and transparency. Their financial licenses are all visible on their website, the 1000 BTC protection fund gives some peace of mind to potential security issues and hacks, and WEEX's trading product is pretty solid.
If you want to trade on their exchange, make sure you use our WEEX referral code! It will let you score up to $20,300 USDT in sign up bonuses!
WEEX Bonus for new users
Up to $20,300 USDT in deposit bonuses and Lucky Draw Rewards!
Sign Up on WEEX and Claim your Bonus!Read more: WEEX Referral Code Details
XT Crypto Exchange
Is XT a trustworthy exchange?
Established in 2018 and incorporated in Seychelles, the XT crypto exchange has over 6 million registered accounts trading on their platforms. XT holds both a Dubai DMCC and USA MSB license, allowing them to operate in critical global crypto markets.
XT offers over 750 coins to trade, giving you an impressive selection to place your bets.
Features:
Packed with all the features you'd expect from a modern and well designed crypto exchange, XT is a solid choice: enjoy spot, perp trading with up to 125x leverage, copy trading, grid trading and demo trading, if you just want a safe space to test your strategies without risking capital.
The XT website, iOS and Android apps are all highly polished and feature rich. In our experience, they were easy and intuitive to use.
KYC Policy:
XT lets you sign up and register an account without providing any official forms of identification or facial recognition. You can withdraw up to 70,000 USDT per day, and deposits of a single transaction are limited to 10,000 USDT.
Pros and Cons:
Overall, XT is a top choice for a no KYC exchange. Backed by licenses to operate as a Money Services Business, their trading platforms are feature rich and the daily withdrawal limits are generous. Their large assortment of coins and trading pairs matches up with some of the best exchanges out there. And their liquidity is amongst the highest of these no KYC exchanges.
XT Bonus for new users
40% discount on trading fees for Spot, Futures and Perpetuals!
Sign Up on XT and Claim your Bonus!Read more: XT Referral Code Details
BingX Crypto Exchange
Is BingX a trustworthy exchange?
Founded in 2018 and awarded the 'Best Exchange Broker' in 2021 by TradingView, BingX is also a rising star amongst exchanges. In 2024, BingX because an official sponsor of the Chelsea Football Club. So its pretty clear that they are growing and improving their business.
Features:
BingX claims to be a crypto social trading network, and that they have the largest copy-trading platform in the world. Crypto copy trading allows users like you to follow and replicate the trades of other experienced traders. So if you're looking for a place to trade on auto-pilot, BingX might be your best bet.
BingX also offers spot trading, futures and grid trading. Their trading platform has a clean and modern design, although we did not find it to be as intuitive to use or as capable as some other trading apps.
KYC Policy:
BingX does not require KYC during sign up, but they do actively detect your location using your IP address and will block you from their services if they think you are in a restricted jurisdiction. So make sure you use a VPN at all times. Daily withdrawal limits are $50,000
Pros and Cons:
The platform has a high withdrawal limit for unverified users and is popular for its copy trading features. But you must be vigilant about using a VPN or you face losing the ability to execute trades.
BingX Bonus for new users
Up to $5,500 in USDT Sign Up Bonuses and Free Rewards!
Sign Up on BingX and Claim your Bonus!Read more: BingX Referral Code Details
For those looking to trade on an exchange that values your privacy, these are some of the most promising no KYC exchanges for 2024. But as always, remember every crypto exchange carries risk. Trading crypto is both highly speculative. Be careful out there, and never trade with money you can't afford to lose. And if you're going to hold coins long-term, the best practice is to move them off the exchange, into your private wallet.