fbpx
  • Price Tracker
  • Guest Post
  • Advertising & Partnership
  • Press Release
  • Editorial Policy
Coin Culture
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Business
    • Policy & Regulation
    • Tech
    • People
  • Markets
    • Forecast
      • Ethereum Price Predictions
      • Bitcoin Price Predictions
  • 101 Guide
    • Blockchain Guide
    • Trading Guide
    • Bitcoin Guide
    • DeFi Guide
    • Ethereum Guide
  • Product Reviews
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Swyftx Review
      • Binance Australia Review
      • MEXC Review
      • BitMart Exchange Review
      • Bybit Australia Review
      • CoinSpot Mastercard Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx vs Binance
      • Coinspot vs Binance
      • Crypto.com vs. Binance
      • CoinSpot vs Kraken
      • Swyftx vs Coinbase
  • Contact
    • About Us
    • Submit Press Release
    • Submit Querry
    • Submit Guest Post
  • Crypto Wiki
No Result
View All Result
Coin Culture
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Business
    • Policy & Regulation
    • Tech
    • People
  • Markets
    • Forecast
      • Ethereum Price Predictions
      • Bitcoin Price Predictions
  • 101 Guide
    • Blockchain Guide
    • Trading Guide
    • Bitcoin Guide
    • DeFi Guide
    • Ethereum Guide
  • Product Reviews
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Swyftx Review
      • Binance Australia Review
      • MEXC Review
      • BitMart Exchange Review
      • Bybit Australia Review
      • CoinSpot Mastercard Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx vs Binance
      • Coinspot vs Binance
      • Crypto.com vs. Binance
      • CoinSpot vs Kraken
      • Swyftx vs Coinbase
  • Contact
    • About Us
    • Submit Press Release
    • Submit Querry
    • Submit Guest Post
  • Crypto Wiki
No Result
View All Result
Coin Culture Logo
No Result
View All Result

Home » 15 Best Crypto Exchanges Without KYC In Australia 2024

15 Best Crypto Exchanges Without KYC In Australia 2024

Lucas N by Lucas N
February 25, 2024
in Crypto Exchange Reviews, Exchanges
15 Best Crypto Exchanges Without KYC In Australia 2023

15 Best Crypto Exchanges Without KYC In Australia 2023

Share on FacebookShare on Twitter

You might also like

CoinSpot vs Kraken: Which Is Better? A Detailed Comparison

Bybit Australia Review 2024: Fees, Security & More Features

Curve Finance Review 2024: Pros & Cons, Fees & More

If you have ever opened an account with a major crypto exchange, you likely had to undergo KYC verification before being allowed to conduct any transactions. Although KYC is intended to monitor illegal transactions, none of us wants to deal with the risks of compromising our personal information. To address this issue, we have compiled a list of the 15 best no-KYC crypto exchanges for you to carry out your transactions without worrying about leaking your details.

What Is Know-Your-Customer (KYC)?

KYC, or Know Your Customer, is a process adopted by financial and cryptocurrency service providers to ensure the authenticity of their users. 

It involves collecting identifying information such as name, address, date of birth, and government-issued identification documents, which are then verified against various databases to identify any red flags indicating fraudulent activity. 

In many countries, KYC is essential to anti-money laundering (AML) and counter-terrorism financing (CTF) measures required by law. It helps regulated companies identify and mitigate potential risks, protect their customer’s assets, and comply with regulatory requirements. 

The cryptocurrency industry has also adopted KYC, with many exchanges and trading platforms requiring users to complete the process before trading or withdrawing funds, to prevent money laundering and other financial crimes associated with using cryptocurrencies.

Why Does Anyone Want Non-KYC Exchanges?

Many individuals may have privacy concerns and feel uncomfortable sharing their personal information. They may be worried about how their data will be used or who can access it. KYC processes can also compromise anonymity, which some individuals prefer to maintain when conducting financial transactions.

Completing the KYC process can also be time-consuming and require significant effort. Some individuals may need more time and effort to complete the process, which can deter them from using crypto exchanges that require KYC. Providing personal information to third-party companies can carry a risk of identity theft or fraud, which can further exacerbate security concerns.

In some cases, individuals may also be unable to complete the KYC process due to their country of residence or lack of required documents. This can limit their ability to access financial services or use specific cryptocurrencies.

Overall, the demand for no-KYC crypto exchanges is driven by a desire for privacy, anonymity, convenience, and security. By understanding the reasons behind this demand, we can better appreciate non-KYC crypto exchanges’ growing importance and role in the cryptocurrency landscape.

15 Best Crypto Exchanges Without KYC

We will summarise non-KYC crypto exchanges and highlight some of the distinctive features they offer as decentralised exchanges (DEX).

Uniswap

Uniswap operates on the Ethereum blockchain as a decentralised non-KYC protocol. Users can trade various ERC-20 tokens on the platform through smart contracts without a centralised exchange.

Automated market-making algorithms are used to provide liquidity, and users can swap tokens without the need for a counterparty. While there is a risk of impermanent loss due to the automated market-making algorithms, Uniswap is popular due to its high liquidity, low fees compared to centralised exchanges, and the ability to maintain privacy without a KYC process.

Pros

✅ Users can remain anonymous as no KYC is required

✅ Low fees compared to centralised exchanges

✅ High liquidity due to automated market-making algorithms

 

Cons

❌ The risk of impermanent loss

❌ A limited selection of tokens available for trade

❌ An Ethereum wallet is required to use the platform

Sushiswap

Sushiswap is a decentralised exchange founded by pseudonymous open-source developers Chef Nomi and 0xMaki. Initially created as a fork of Uniswap, Sushiswap is a non-KYC exchange operating on the Ethereum blockchain. Using smart contracts, users can trade various ERC-20 tokens. 

Sushiswap offers a broader selection of tokens than Uniswap and has high liquidity due to its automated market-making algorithms. However, as a less established platform, Sushiswap may be subject to more volatility and share similar risks of impermanent loss with Uniswap.

Pros

✅ No KYC is required for users to maintain privacy

✅ A more comprehensive selection of tokens compared to Uniswap

✅ High liquidity due to automated market-making algorithms

Cons

❌ Similar risks of impermanent loss as Uniswap

❌ It may be subject to more volatility than Uniswap

❌ An Ethereum wallet is needed to use the platform

CoinEx

CoinEx is a non-KYC centralised cryptocurrency exchange headquartered in Hong Kong that enables users to trade various cryptocurrencies, including Bitcoin, Ethereum, and Ripple, at a flat trading fee of 0.1%. It provides a user-friendly interface with two-factor authentication, cold storage for funds, and a mobile app for convenient trading. 

CoinEx is a popular choice for those who value the speed and ease of centralised exchanges without compromising their privacy through KYC verification. However, users must trust CoinEx to hold their funds due to its centralised nature securely.

Pros

✅ Wide range of coins supported for trading

✅ A relatively low trading fee of 0.1%

✅ User-friendly interface and mobile app

Cons

❌ Not friendly to novice users

❌ Expensive to deposit fiat currencies

❌ Limited interest-earning options

CoinSwitch

CoinSwitch is a leading no-KYC crypto exchange based in India that offers more than 100,000 crypto pairs from major exchanges, allowing for the smooth exchange of crypto coins. Established in 2017, it has already processed over 1 million transactions in just a few years.

CoinSwitch allows you to purchase Bitcoin without bank cards like Visa or Mastercard. The platform is backed by V.C. firm Sequoia Capital and serves as a one-stop shop for all your crypto needs.

While its transaction fee is unclear due to its use of multiple exchanges, it remains a popular choice among traders for its easy-to-use interface and fiat transactions.

Pros

✅ Various coins and currency pair

✅ Easy to use with an intuitive interface

✅ No transaction limit

Cons

❌ No fixed trading fees

❌ Fiat deposits are not supported

dYdX

dYdX is a decentralised exchange that operates on the Ethereum blockchain, allowing users to trade various ERC-20 tokens and ETH via smart contracts without KYC requirements. It offers high liquidity through margin trading, which can also pose a liquidation risk. The exchange provides a limited selection of tokens and trading pairs, and users must have an Ethereum wallet to access the platform.

Pros

✅ No KYC required for better user privacy

✅ Long and short with high leverage

✅ High liquidity due to margin trading

Cons

❌ Margin trading carries the risk of liquidation

❌ Only 3 assets available for swaps

❌ Limited selection for margin trading pairs

Pionex

Pionex is a decentralised crypto exchange that provides access to 16 different bots, including the ability to customise your bot. It allows high-leverage derivative contracts for all asset classes, and swap contracts are available for EOS, BNB, XRP, BCH, ETH, and BTC.

The exchange has robust servers that can handle the high trading volume, ensuring speedy transactions. It also has an easy-to-use API and a user-friendly interface with easy navigation and access to various data types.

All assets are stored in cold wallets for security, ensuring hackers cannot compromise crypto coins. Pionex’s non-KYC policy appeals to users who want to trade crypto without revealing personal information.

Pros

✅ 16 built-in trading bots for investors

✅ A user-friendly and customisable interface

✅ Instant crypto-to-crypto swap service

Cons

❌ No demo mode for trading bots

❌ AUD withdrawals unsupported

❌ Pionex users can only stake ETH

ProBit

Probit Global is a centralised exchange founded in 2018 and offers optional KYC. The exchange provides access to over 800 cryptocurrencies for trading and has implemented high-security measures such as two-factor authentication and cold storage for funds. 

However, the centralised nature of the exchange means that users may not have complete control over their funds, and trading fees are comparatively high when compared to other exchanges.

Pros

✅ Optional KYC provides users with privacy

✅ 2FA and cold storage for securing funds

✅ Access to IEOs (initial exchange offerings)

Cons

❌ Limited trading pairs supported

❌ Trading fees are relatively high

❌ Unresponsive customer support

Hodl Hodl

Hodl Hodl is a non-KYC peer-to-peer (P2P) cryptocurrency exchange that allows users to trade BTC without needing identity verification. The exchange serves as an escrow service, holding the funds until both parties are satisfied with the transaction, and charges a flat 0.6% fee on all trades. Hodl Hodl has a user-friendly interface but may have lower liquidity than centralised exchanges. However, it is popular for those who value privacy and decentralisation.

Pros

✅ A high level of privacy and anonymity

✅ Escrow service reduces the risk of fraud

✅ Lower fees compared to other P2P exchanges

Cons

❌ Lower liquidity affects the trades

❌ Only BTC trading is supported

❌ Not a fully decentralised crypto exchange

Alfacash

Alfacash, previously known as Alfacashier, is a non-KYC exchange platform that supports 28 different cryptocurrencies. As a non-custodial exchange, it validates and executes transactions without creating a wallet, giving users full custody of their wallets and more control over deposit and withdrawal transactions.

Alfacash offers a secure payment system through its partnership with Simplex, allowing users to buy cryptocurrencies using debit or credit cards. However, the exchange is not available for US-based investors and charges relatively higher fees than other trading platforms.

Pros

✅ 28 different crypto assets supported

✅ Users have full control of their transactions

✅ Secure payment system with Simplex

Cons

❌ Not available for US-based investors

❌ Higher fees compared to other platforms

❌ Lack of transparency on security matters

Sideshift AI

SideShift is a crypto exchange that only supports about 50+ tokens, but it is one of the first to adopt user-friendly technologies. The platform was the first to integrate PayJoin, a payment system popularised with Bitcoin transactions. The Pay-to-end-point (P2EP) method simplifies payment by using leftover change.

SideShift has incorporated liquid payments, a Blockstream system that replaces the traditional proof-of-work consensus model with a more efficient federal consensus model.

Pros

✅ User-friendly interface and experience

✅ A flat fee of 0.5% for all trades

✅ Integrated PayJoin and liquid payments

Cons

❌ Slow transaction time, about 21 minutes

❌ Poor live chat support

Swapzone

Swapzone is a crypto exchange that requires no verification process, thus giving new users easy access to quick transactions. Swapzone’s simple and clean interface, available on mobile and desktop, is perfect for beginners and experts who prefer uncluttered transactions.

The exchange offers on-the-spot trading with about 300 assets available for swapping. Swapzone’s robust aggregating feature offers comprehensive price analysis and estimates for the tokens they want to trade.

Pros

✅ The clean interface on both mobile and desktop

✅ Over 300 cryptocurrency assets supported

✅ Users can choose fixed and floating rates

Cons

❌ Does not support fiat currencies

❌ A limited number of exchanges listed

❌ Lack of detailed guides and video tutorials

Bisq

Bisq employs the Tor system to ensure extreme security and stores all assets in cold storage. It supports more than 120 cryptocurrencies and enables over 15 payment methods, including credit and debit cards and bank transfers. With low trading fees of 0.05% for makers and 0.35% for takers, Bisq is a cost-effective platform.

However, you can only trade against Bitcoin; the platform doesn’t support fiat currencies or stablecoins like USDT. As a result, Bisq may not be the best choice for traders looking to trade other cryptocurrencies or assets.

Pros

✅ No funds are stored with Bisq

✅ Various payment options are available

✅ Decentralised trading for extra security

Cons

❌ Fees are a bit higher than other exchanges

❌ Users can only trade against BTC

❌ Unsuitable for experienced traders

BlockDX

Block DX claims to be the world’s most decentralised exchange, and that statement seems to hold up to scrutiny. Block DX has decentralised all four critical components of a truly “trustless” DEX: funds storage, order books, order matching, and settlement. This has been achieved through a unique protocol that ensures genuine decentralisation in all platform operation aspects.

Pros

✅ There is no registration required

✅ Open source and has a strong community

✅ Trading pair freedom for supported assets

Cons

❌ Not suitable for novice users

❌ Low-liquidity issues

❌ No direct credit/debit card payments

Phemex

Phemex is a Singapore-based crypto exchange that offers advanced features such as high-speed trading, spot trading, and futures trading with up to 100x leverage. It supports over 200 cryptocurrencies and provides a user-friendly interface for beginners and advanced traders. 

The deposit fees are free, while withdrawals are $30 per transaction. Spot trading fees start from 2% and can be as low as 0.08% for users trading above $500K. The platform supports multiple deposit methods, including Credit/Debit Cards, Bank Transfers, ACH, SWIFT, SEPA & FPS. 

The exchange provides 24/7 customer support via live chat, email, and social media platforms like Telegram, Twitter & Discord. 

Pros

✅ A wide range of coins supported

✅ Phemex Earn to earn passive income

✅ The platform is community-focused

Cons

❌ A low amount of liquidity

❌ No dedicated staking platform

❌ Not available in the USA

AAX

AXX is a crypto trading exchange with spot, futures, and over-the-counter markets. It employs the LSEG Technology matching engine, the same as first-tier exchanges like the London Stock Exchange. AXX boasts of having over 2 million investors who trust and enjoy its superb functionality and user-friendly interface. 

With over 50 crypto-to-crypto pairings, AXX provides easy deposits and withdrawals, market tracking, and supports over 20 fiat currencies. It also facilitates peer-to-peer transactions (P2P) with secure encryption and fast settlements.

Pros

✅ Instant buying and selling of crypto

✅ Several trading markets supported

✅ Good 24/7 customer support

Cons

❌ Margin trading is not available

❌ Mobile app needs improvements

❌ Not available in the USA

FAQs About  Non-KYC Exchanges

Can I buy cryptocurrencies without KYC?

Yes. You can purchase cryptocurrencies without undergoing KYC, but it varies depending on your platform. Some exchanges for digital assets permit users to buy, sell, and trade cryptocurrencies without necessitating the disclosure of personal identification information. These exchanges are known as “Non-KYC exchanges,” They generally offer more privacy and anonymity than exchanges that adhere to KYC requirements.

Are non-KYC crypto exchanges legal?

Before using non-KYC platforms, users should research the laws and regulations of their country or region regarding cryptocurrency exchanges, as the regulatory status may vary.

How to select the best non-KYC exchange?

To minimise the risk of fraud or theft, users must research a non-KYC crypto exchange’s reputation, security measures, and user reviews before selecting one. Users should also know that non-KYC exchanges may have slower transaction times and lower liquidity than regulated exchanges.

Can I use Binance without KYC verification?

Binance is a leading non-KYC crypto exchange that accepts all major altcoins and provides anonymous trading. However, there is a caveat. Unverified users are limited to a daily withdrawal of 0.06 BTC, while verified users can transfer up to 100 BTC daily.

Is it safe to use a non-KYC crypto exchange?

Yes. While a non-KYC exchange can offer more privacy and anonymity, it may not be under regulatory oversight and can be vulnerable to hacking or fraudulent activities. Thus, you should conduct thorough research and due diligence on any exchange or platform before using it. 

The Bottom Line

To summarise, non-KYC crypto exchanges allow users to trade cryptocurrencies without sharing personal information. While these platforms offer greater privacy, it is essential to consider the potential risks and trade-offs, such as reduced regulatory oversight and higher susceptibility to fraud or hacking. 

Tags: Crypto ExchangeXRP News
Lucas N

Lucas N

Lucas N is Coin Culture's managing editor for people and market, covering opinon, interview and market analysis. He owns Near, Aurora and Chainlink

Recommended For You

CoinSpot vs Kraken: Which Is Better? A Detailed Comparison

by Lucas N
September 3, 2024
0
CoinSpot vs Kraken: Which Is Better? A Detailed Comparison

CoinSpot and Kraken are two both award-winning cryptocurrency exchanges in Australia with strong user base and robust trading activities. While Kraken offers more advanced trading tools such as...

Read more

Bybit Australia Review 2024: Fees, Security & More Features

by Lucas N
May 3, 2024
0
Bybit Australia Review

Bybit is one of the world’s leading exchange platforms that offers 100x leverage on derivatives for more than 600 pairs. In addition to futures, Bybit provides Spot, Margin,...

Read more

Curve Finance Review 2024: Pros & Cons, Fees & More

by Lucas N
July 31, 2024
0
Curve Finance Review 2023: Pros & Cons, Fees & More

Curve Finance is a decentralised exchange (DEX) protocol created on the Ethereum blockchain, focusing on stablecoins and other low-volatility tokens. Since its launch in 2020, it has rapidly...

Read more

Crypto.com vs. Binance: A Detailed Comparison 2023

by Lucas N
October 1, 2024
0
Crypto.com vs. Binance: A Detailed Comparison 2022

Crypto.com and Binance are popular cryptocurrency exchanges, and we need to pit them against one another to see which one is in the lead. We gathered the most...

Read more

Best Crypto Apps in Australia: A Curated List 2024

by Van Tran
July 26, 2024
0
Best Crypto Apps in Australia: A Curated List 2023

The Australian government adopts a reasonably favourable stance on blockchain technology and cryptocurrencies and enables residents to invest in digital currency. According to the Australian Minister of Financial...

Read more
Next Post
Vitalik Buterin Cautions Developers on the Fusion of Crypto and AI

Vitalik Buterin Cautions Developers on the Fusion of Crypto and AI

Most popular

  • Why Brands Should Adopt A ‘Hybrid DAO’ Model

    Why Brands Should Adopt A ‘Hybrid DAO’ Model

    165 shares
    Share 66 Tweet 41
  • 20 Best Crypto Copy Trading Platforms: A Curated List 2024

    662 shares
    Share 265 Tweet 166
  • Kucoin Review 2024: Features, Fees & More

    143 shares
    Share 57 Tweet 36
  • 11 Best Crypto Debit Cards In Australia: A Curated List 2024

    420 shares
    Share 168 Tweet 105
  • Guide To Crypto Twitter: Influencers, Traders And Ventures 2024

    1200 shares
    Share 480 Tweet 300

Recommended

Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push

Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push

November 9, 2024
Solana Surpasses Binance Coin (BNB) as Fourth-Largest Cryptocurrency

Solana Surpasses Binance Coin (BNB) as Fourth-Largest Cryptocurrency

November 8, 2024
Trump Declares Victory - What will the US Crypto be?

Trump Declares Victory – What will the US Crypto be?

November 6, 2024
Kraken Introduces Crypto Derivatives Suite for Australian Wholesale Clients

Kraken Introduces Crypto Derivatives Suite for Australian Wholesale Clients

November 5, 2024
coin culture logo

Your Australian news source for all things cryptocurrency. Coin Culture is an independent media outlet that aims to provide an Aussie take on crypto, digital assets, and investing.

Hot Topics

  • DeFi
  • NFT
  • Gaming

Top articles

CoinSpot Review
Swyftx Review
Best Crypto Exchanges Australia
CoinSpot vs Swyftx

BROWSE BY TAG

Altcoin News Bitcoin CoinSpot Cryptocurrencies Crypto Exchange Crypto Tax DeFi Dogecoin Dogecoin News ETF Ethereum Feature FED FTX Games hacks Layer2 Markets meme Metaverse Mining NFT Opinion People Policy and Regulation Polygon SEC Security Solana News Stablecoins Tech Top Crypto News Australia | CoinCulture Trading US web3 XRP News

RECENT POSTS

  • Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push
  • Solana Surpasses Binance Coin (BNB) as Fourth-Largest Cryptocurrency
  • Trump Declares Victory – What will the US Crypto be?

© 2023 CoinCulture. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.
  • bitcoinBitcoin(BTC)$96,013.00-1.07%
    BITCOIN
    24H : -1.07%
    Volume : $21,736,854,134.00
    Marketcap : $1,905,975,348,557.00
  • ethereumEthereum(ETH)$1,823.61-0.56%
    ETHEREUM
    24H : -0.56%
    Volume : $9,657,358,947.00
    Marketcap : $220,027,396,674.00
  • tetherTether(USDT)$1.0000.00%
    TETHER
    24H : 0.00%
    Volume : $24,775,609,397.00
    Marketcap : $149,220,372,837.00
  • rippleXRP(XRP)$2.19-1.08%
    XRP
    24H : -1.08%
    Volume : $1,555,218,321.00
    Marketcap : $128,154,046,839.00
  • binancecoinBNB(BNB)$595.94-0.73%
    BNB
    24H : -0.73%
    Volume : $484,025,320.00
    Marketcap : $86,968,947,292.00
  • solanaSolana(SOL)$147.09-2.29%
    SOLANA
    24H : -2.29%
    Volume : $2,630,471,966.00
    Marketcap : $76,184,444,145.00
  • usd-coinUSDC(USDC)$1.0000.00%
    USDC
    24H : 0.00%
    Volume : $4,001,134,052.00
    Marketcap : $61,515,305,601.00
  • dogecoinDogecoin(DOGE)$0.178-1.85%
    DOGECOIN
    24H : -1.85%
    Volume : $859,267,372.00
    Marketcap : $26,519,577,099.00
  • cardanoCardano(ADA)$0.699-1.49%
    CARDANO
    24H : -1.49%
    Volume : $531,852,878.00
    Marketcap : $25,167,152,937.00
  • tronTRON(TRX)$0.2481.35%
    TRON
    24H : 1.35%
    Volume : $450,533,908.00
    Marketcap : $23,566,312,512.00

Add New Playlist

No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Business
    • Policy & Regulation
    • Tech
    • People
  • Markets
    • Forecast
      • Ethereum Price Predictions
      • Bitcoin Price Predictions
  • 101 Guide
    • Blockchain Guide
    • Trading Guide
    • Bitcoin Guide
    • DeFi Guide
    • Ethereum Guide
  • Product Reviews
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Swyftx Review
      • Binance Australia Review
      • MEXC Review
      • BitMart Exchange Review
      • Bybit Australia Review
      • CoinSpot Mastercard Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx vs Binance
      • Coinspot vs Binance
      • Crypto.com vs. Binance
      • CoinSpot vs Kraken
      • Swyftx vs Coinbase
  • Contact
    • About Us
    • Submit Press Release
    • Submit Querry
    • Submit Guest Post
  • Crypto Wiki

© 2023 CoinCulture. All rights reserved.