Key highlights:

Giving your personal information to a third party always carries a risk

Cryptocurrency exchanges are a popular target for hackers looking to steal personal data

We feature some of the best exchanges where you can trade without identity verification

Top cryptocurrency exchanges without KYC

Many cryptocurrency enthusiasts put a premium on privacy and protecting their personal data. While the development of cryptocurrency regulations is making mandatory identity verification more and more common on cryptocurrency exchanges, there are still platforms that you can use to trade between different cryptocurrencies without handing over your personal information.

Below, you’ll find a list of the top cryptocurrency exchanges where you can currently trade without completing a KYC process.

However, with some of the platforms featured in this article, a KYC verification is still necessary to access all of the features offered by the exchange. Given the quickly evolving cryptocurrency regulations in many countries, it’s also quite possible that some of these exchanges will introduce mandatory KYC moving forward.

Now, let's take a more detailed look into the top exchanges that can be used without identity verification.

1. Binance

Binance is the world’s most popular cryptocurrency exchange, and it lists well over 100 different cryptocurrencies. Apart from providing some of the most liquid spot markets in the cryptocurrency industry, the exchange also offers high leverage crypto derivatives trading through its Binance Futures platform.

In addition to trading, Binance also offers other attractive features including initial exchange offerings (IEOs) for promising blockchain projects, and lending programs where you can earn some interest on your cryptocurrency holdings by lending them out to marg1n traders.

Binance can be used without KYC, as long as you’re not withdrawing more than 2 BTC a day – this limitation shouldn’t be a problem for most readers. If you’re looking to trade spot markets and don’t want to complete KYC, it’s hard to go wrong with Binance. However, you will not be able to access all of the exchange’s features if you choose not to verify your identity.

Create Binance Account

Binance Review

2. PrimeXBT

PrimeXBT is a Bitcoin-powered trading platform that’s focused on high leverage trading. On PrimeXBT, you can trade Bitcoin, Ethereum, XRP, EOS and Litecoin with up to 100x leverage, but the platform also offers products that let you speculate on various forex markets, indices as well as commodities such as oil and gold.

PrimeXBT has a well-designed customizable trading interface, and you can also trade on the go with the platform’s mobile app.

Since PrimeXBT is based around Bitcoin (all deposits and withdrawals are done in the form of BTC), PrimeXBT doesn’t require identity verification – currently, this is a standard practice among crypto-only leverage trading platforms.

Create PrimeXBT Account

PrimeXBT Review

3. KuCoin

KuCoin is another popular exchange that’s particularly well-suited for those who like to trade low-market cap altcoins. On KuCoin, you will find some interesting altcoins that might not be available on Binance or other major cryptocurrency exchange industry players.

However, KuCoin also holds its own when it comes to trading major cryptocurrencies, and its liquidity for coins like Bitcoin, Ethereum and XRP will satisfy all but the most demanding traders. KuCoin has also made sure to keep up with competition by introducing marg1n trading with up to 10x leverage, IEOs, as well as high leverage Bitcoin trading on the KuMEX platform.

However, just like with Binance, keep in mind that you will not be able to access the full functionality offered by KuCoin unless you complete the identity verification process. Non-verified KuCoin users have a 2 BTC daily withdrawal limit.

Create KuCoin Account

KuCoin Review

4. Bybit

Bybit is a cryptocurrency derivatives exchange that lets traders speculate on the price movements of Bitcoin, Ethereum, XRP and EOS. Bybit was established in 2018 and has since become one of the most popular destinations for crypto leverage trading.

The platform offers an advanced market and index pricing system to ensure the reliable pricing of its derivatives products, and Bybit’s trading system is also designed to avoid the overload issues that plague some of its competitors.

Bybit is purely a crypto-based platform (no fiat currency deposits and withdrawals) and requires no identity verification process for normal use. However, Bybit does geo-block traders from certain countries, including the USA and China.

Create Bybit Account

Bybit Review

5. BitMEX

BitMEX is the name that springs to mind when most cryptocurrency fans think about trading cryptocurrencies with high leverage. BitMEX was founded in 2014 and although many competitors have started to challenge it in recent years, it maintains a very strong position in the cryptocurrency derivatives space. The platform offers unrivaled liquidity for its flagship Bitcoin/USD perpetual contract.

Although you can use BitMEX to speculate on the price action of popular altcoins such as Ethereum, XRP and Cardano, all deposits and withdrawals on BitMEX are in the form of BTC. Depending on the cryptocurrency you’re trading, you can use leverage of up to 100x. Generally, coins with a smaller market cap will also have a more conservative leverage limit.

BitMEX requires no identity verification for its users, and the process of creating an account and getting started with trading is very quick.

Create BitMEX Account

BitMEX Review

6. BitMAX

BitMAX is a feature-packed cryptocurrency exchange that was launched in 2018. The exchange lists a very large selection of cryptocurrencies, although it doesn’t quite list as many different crypto assets as Binance.

In addition to spot trading, BitMAX has implemented many features to keep up with the competition, including marg1n trading, futures contracts, and block trades. The exchange also provides airdrops for its users and allows them to lend the exchange’s BTMX token and receive USDT interest in return.

The daily withdrawal limit for non-verified BitMAX users is 2 BTC, the same as the limit on Binance and KuCoin. Even though BitMAX doesn’t require KYC, customers from certain countries, including the United States, are not allowed to trade on the platform.

Create BitMAX Account

Conclusion

As we can see, there’s plenty of ways to trade between different cryptocurrencies without having to give your personal information to a third party. If you want to buy cryptocurrency with fiat, however, going through a KYC process is almost unavoidable.

While most of the featured exchanges place some restrictions on non-verified users, these restrictions are unlikely to negatively impact most traders.