Most cryptocurrency exchanges implement KYC (Know Your Customer) policies to prevent their platforms from being used for money laundering. However, if you wish to buy crypto without KYC, we will show you our top picks.
Why do individuals prefer to avoid KYC?
Many people could be concerned about their privacy and hesitant to provide their personal information. They can be concerned about the potential uses of their data or who will have access to it. KYC procedures might potentially jeopardize an individual’s desire to remain anonymous when transacting money.
The KYC procedure can be time-consuming and labor-intensive to complete. Some people could take more time and effort to finish the procedure, which may discourage them from utilizing cryptocurrency exchanges that demand KYC. Giving personal information to third-party businesses may increase the possibility of identity theft or fraud, which will raise further security issues.
Due to their residency country or a lack of essential documentation, certain people may also be unable to finish the KYC process. This can make it harder for them to use certain cryptocurrencies or gain access to banking services.
In general, people want no-KYC crypto exchanges because they want privacy, anonymity, ease, and security. We can better appreciate the growing significance and role of non-KYC crypto exchanges in the cryptocurrency environment by comprehending the factors driving this need.
If you are planning to trade or buy crypto without KYC for legitimate reasons, then continue reading as we show you the best options in Australia.
Best Crypto Exchanges Without KYC in Australia.
We use thorough research and ongoing testing to identify the top no KYC cryptocurrency exchanges for Australians, updated for 2023. To make sure you have the most relevant and up-to-date information, we often update these pages and examine various crypto exchanges on a regular basis. So here is the list of some best cryptocurrency exchange Australia.
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.
Decentralized exchange Sushiswap was created by open-source engineers Chef Nomi and 0xMaki, who go by the pseudonyms. Sushiswap is a non-KYC exchange that was first developed as a fork of Uniswap and runs on the Ethereum network. Users can exchange numerous ERC-20 coins using smart contracts.
Because of its automated market-making algorithms, Sushiswap has a larger range of tokens than Uniswap and a high level of liquidity. Sushiswap, which is a less well-known platform, could be more volatile and expose users to the same risks of temporary loss as Uniswap.
Users can trade several cryptocurrencies, such as Bitcoin, Ethereum, and Ripple, at CoinEx, a centralised non-KYC exchange with headquarters in Hong Kong, for a fixed trading cost of 0.1%. It offers a simple user interface, two-factor verification, cold storage for money, and a mobile trading app.
For individuals who desire the convenience and speed of centralized exchanges without sacrificing their privacy due to KYC verification, CoinEx is a popular option. Users must, however, have faith in CoinEx to keep their money secure given its centralized structure.
CoinSwitch is a prominent no-KYC cryptocurrency exchange that enables easy trading of digital currency With more than 100,000 crypto pairs from top exchanges, In just a few years after its establishment in 2017, it has already handled more than 1 million transactions.
With CoinSwitch, you may buy bitcoin without using a credit card from Visa or Mastercard. The portal is a one-stop shop for all your cryptocurrency needs and is supported by venture capital firm Sequoia Capital.
Although the transaction fee is uncertain because it uses several exchanges, traders still favor it because of its user-friendly design and fiat transfers.
- Licenced Betting Platform
- Extensive Sports Coverage
- More than 10,000 Live Events Monthly
- Live Streaming Available
- Fast Deposits
- Mobile-Friendly Website
- Offers Various E Sports
- Live Chat Support
- Does Not Offer a Welcome Bonus
- Limited Sports Promotions
- No VIP Program
- Does Not Have Native Apps
- Low Withdrawal Limit
dYdX is a decentralized exchange that runs on the Ethereum blockchain and enables users to trade different ERC-20 tokens and ETH via smart contracts without the need for KYC. Through margin trading, which carries a little risk of liquidation, it provides substantial liquidity. Users are need to have an Ethereum wallet in order to access the exchange, which offers a constrained range of trading pairings and tokens.
With Pionex, a decentralized cryptocurrency exchange, you may access 16 different bots and even customize your own. All asset classes are eligible for high-leverage derivative contracts, and EOS, BNB, XRP, BCH, ETH, and BTC swap contracts are also offered.
Due to the exchange’s powerful infrastructure, which can handle the large trading traffic, transactions are completed quickly. Additionally, it offers an accessible API and a user-friendly UI with simple navigation and easy access to different data kinds.
For security reasons, all funds are kept in cold wallets, preventing hackers from accessing cryptocurrency. Users who prefer to trade cryptocurrencies anonymously will find Pionex’s non-KYC policy appealing.
The centrally located exchange Probit Global was established in 2018 and provides an optional KYC process. The exchange has put in place high-security features including two-factor authentication and cold storage for money in addition to giving traders access to over 800 different cryptocurrencies.
Trading costs are also rather costly when compared to other exchanges, and the exchange’s centralization implies that users may not have full control over their cash.
Hodl Hodl is a peer-to-peer (P2P) cryptocurrency exchange that does not need users to provide proof of their identity in order to transact in BTC. The exchange takes a fixed 0.6% fee on all trades and acts as an escrow service, holding the funds until both parties are pleased with the transaction. Despite having a more user-friendly interface than centralized exchanges, Hodl Hodl can have less liquidity. However, it is well-liked by people who respect decentralization and privacy.
A non-KYC trading platform called Alfacash, formerly known as Alfacashier, supports 28 different cryptocurrencies. Since it is a non-custodial exchange, users have complete control over their wallets and more control over deposit and withdrawal operations. It validates and executes transactions without generating a wallet.
Through its collaboration with Simplex, Alfacash provides a secure payment mechanism that enables customers to purchase cryptocurrencies using debit or credit cards. The exchange, however, does not accept US-based investors and has comparatively higher commissions than other trading venues.
SideShift is one of the first cryptocurrency exchanges to embrace user-friendly features, despite only supporting more than 50 tokens. The website was the first to incorporate PayJoin, a payment method made popular by Bitcoin trades. Using spare change, the Pay-to-end-point (P2EP) approach streamlines payment.
Liquid payments, a Blockstream mechanism that switches out the conventional proof-of-work consensus methodology for a more effective federal consensus model, has been included into SideShift.
Swapzone is a cryptocurrency exchange that doesn’t require verification, making it simple for novice users to access speedy transactions. For both newcomers and seasoned users who appreciate clear transactions, Swapzone’s straightforward and uncluttered interface, available on desktop and mobile, is ideal.
With around 300 items accessible for exchanging, the exchange allows real-time trading. The powerful aggregating feature of Swapzone provides thorough price analyses and projections for the tokens they choose to swap.
To maintain the highest level of security, Bisq uses the Tor system and keeps all assets in cold storage. It supports more than 120 cryptocurrencies and offers over 15 different payment options, including as bank transfers and credit and debit cards. Bisq is a reasonably priced platform with minimal trading costs of 0.05% for makers and 0.35% for takers.
However, the platform does not handle fiat money or stablecoins like USDT; you can only trade against Bitcoin. For traders wishing to trade other cryptocurrencies or assets, Bisq might not be the ideal option.
Block DX promises to be the world’s most decentralized exchange, and that claim appears to hold up under inspection. Block DX has decentralized all four crucial components of a completely “trustless” DEX: money storage, order books, order matching, and settlement. This has been accomplished through the use of a one-of-a-kind protocol that provides true decentralisation in all elements of platform operation.
Phemex is a cryptocurrency exchange with headquarters in Singapore that provides cutting-edge services like high-speed trading, spot trading, and futures trading with up to 100x leverage. It supports more than 200 cryptocurrencies and offers both novice and experienced traders a user-friendly interface.
While withdrawal fees are $30 per transaction, deposits are free. Spot trading commissions begin at 2% and go as low as 0.08% for consumers trading more than $500,000. The platform accepts deposits using credit/debit cards, bank transfers, ACH, SWIFT, SEPA, and FPS, among other options.
The exchange offers live chat, email, and social media services like Telegram, Twitter, and Discord to its customers around-the-clock.
AXX is a cryptocurrency trading platform combining spot, futures, and OTC markets. Similar to top-tier exchanges like the London Stock Exchange, it uses the LSEG Technology matching engine. Over 2 million investors trust and love AXX’s great functionality and user-friendly design, the company promises.
AXX offers simple deposits and withdrawals, market tracking, and support for more than 20 fiat currencies. It has more than 50 crypto-to-crypto pairings. Additionally, it enables peer-to-peer (P2P) transactions with safe encryption and quick settlements.
Bybit, a well-known Singaporean exchange founded in 2018, would gain greater popularity if it implemented KYC rules. It is quite popular because it has many excellent features and is excellent for margin trading.
Bybit offers leverage of up to 100X on Bitcoin and up to 50X on all other combinations, and it has over 2 million registered customers. Note that US citizens cannot trade even though KYC is not required for registration.
One-click coin exchanges and a very user-friendly user interface are just two of the fantastic advantages offered by Bybit. Bybit also offers a cutting-edge security system, allowing you to trade with confidence. Their trading costs are ZERO for spot trading and VERY LOW (0.01% for makers, 0.06% for takers) for derivatives trading. Additionally, it supports a variety of languages and apps for both iOS and Android.
One of the biggest cryptocurrency trading platforms in the world, MEXC is renowned for its enormous selection of 2,110+ trading pairs and more than 1,520+ coins. This is the most readily available product on the market, and the trading costs are also the lowest, coming in at 0.0%/0.03% for futures trading and 0.0.0/0.2% (maker/taker) for spot trading.
MEXC also provides a number of additional services, like rapid cryptocurrency purchases, staking, leveraged trading (up to 125x), and premium customer support. MEXC accepts a number of different payment options, including Visa/Mastercard, bank cards, bank transfers, Apple Pay, and Google Pay.
Use this link to sign up for a free $30 USDT trial and receive a 10% discount on all trading expenses if you want to test out MEXC.
If you want to trade anonymously and need deep liquidity, Weex is our top pick. Even surpassing MEXC and Bitget, Weex has the biggest market depth of any cryptocurrency exchange. This is ideal for traders who transact in huge volumes because orders are swiftly filled without concern for slippage. Weex even offers a guarantee that their slippage won’t go above a certain amount, and the platform pledges to make up the difference if it does.
Weex offers fee-free spot trading for both makers and takers, however they only have a limited number of trading pairs available. You can trade futures for their entire selection of more than 30 cryptocurrencies, with cheap costs of 0.02/0.06% (maker/taker). Unlike other cryptocurrency exchanges, USDT allows trading with up to 200x leverage on perpetual contracts, inverse contracts, and simulated contracts.
Use Weex’s copy trading tool if you are a novice investor or if you just don’t have the time to monitor the markets all day. When you do this, Weex will automatically place the identical orders as the experienced trader you are following, allowing you to earn alongside them while drawing on their expertise. This is a fantastic option for learning how to trade and earning money without remaining online.
Another wonderful platform with some great features to offer is Margex, which hasn’t implemented KYC regulations. Despite being relatively new—it was created in 2020—it may provide up to 100X leverage for all trading pairings.
The fact that Margex is set up for newcomers to margin trading is one of its many wonderful features. It offers a very user-friendly, intuitive layout and a variety of reading materials and guidelines to assist beginners in making money. It also accepts 13 cryptocurrencies, including BTC, ETH, and other well-known coins, for a deposit of just $10.
For all trading pairings, Margex offers cheap maker and taker costs of 0.019% and 0.060%, respectively.
The best No KYC alternative to Binance, the biggest trading platform in the world, is KuCoin. Like Binance, it provides a wide selection of more than 700 coins along with a ton of trading marketplaces for a cost of just 0.1%. The KYC process is not necessary to register or trade on KuCoin, however it is required if you wish to trade more than 2 BTC each day.
You can do margin and spot trading, staking, crypto lending, join mining pools, and more on the platform, which has a ton of amazing features for both new and seasoned traders. It is a highly well-known and reliable platform with a $100 million daily trade volume with backing from IDG Capital and Matrix Partners. KuCoin is simple to use, and you can use their free trading bots to automate your approach when you are not at your computer.
Only 0.1% is charged in costs for spot trading, and 0.02% for makers and 0.06% for takers in fees for futures trading. You can get a 20% discount on your fees by choosing to pay with KuCoin’s own coin (KCS). Without KYC, KuCoin has a daily withdrawal cap of 5 BTC, but this cap rises to 100 BTC if you choose to verify your account.
Can I purchase cryptocurrency without a KYC?
Yes. Without going through KYC, you can buy cryptocurrency, however it depends on your platform. Some digital asset exchanges allow users to trade, acquire, and sell cryptocurrencies without having to divulge any personal information. These exchanges, also referred to as “Non-KYC exchanges,” typically provide greater levels of secrecy and anonymity than exchanges that follow KYC guidelines.
Crypto exchanges without KYC are legal, right?
Users should understand the rules and regulations of their nation or region regarding cryptocurrency exchanges before using non-KYC platforms because the regulatory status may differ.
How do I choose the best non-KYC exchange?
Before choosing a non-KYC crypto exchange, customers should examine its reputation, security precautions, and user reviews to reduce the chance of fraud or theft. Additionally, users should be aware that non-KYC exchanges may have lesser liquidity and slower transaction speeds than licensed exchanges.
Can I use Binance without undergoing KYC?
Leading cryptocurrency exchange Binance supports anonymous trading and does not require Know Your Customer (KYC) information. There is a warning, though. A daily withdrawal cap of 0.06 BTC applies to unverified users, whereas daily transfers of up to 100 BTC are permitted for verified users.
Is it safe to use a non-KYC crypto exchange?
Yes. A non-KYC exchange may provide greater privacy and anonymity, but because it is not regulated, it may also be more susceptible to hacking or fraudulent activity. As a result, you should do your homework and exercise due diligence before using any exchange or platform.
In conclusion, consumers can trade cryptocurrencies on non-KYC crypto exchanges without disclosing any personal information. Although these platforms provide more anonymity, it is important to weigh the potential downsides and risks, such as diminished governmental supervision and increased vulnerability to fraud or hacking.
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Best Cryptocurrency Exchange Australia(No KYC) | Best Crypto Exchanges in Australia Without KYC