Best Anonymous Crypto Exchange

Our Top 10 Anonymous Crypto Exchanges for 2022

#1: Binance

Topping our list is a well-known cryptocurrency exchange. Launched in 2017, Binance formed its roots in Hong Kong and quickly rose through the ranks to become a leader in crypto asset markets. Offering a wide range of convenience features and a considerable range for private trading, Binance is great for beginners, new users, and seasoned pros.

Available Currencies

Binance is a global cryptocurrency market that offers users access to buying, selling, and trading of over 150 different cryptocurrencies. As long as trades clock in under specified amounts, users can anonymously deal in:

• Bitcoin
• Ether
• Litecoin
• Dogecoin
• Binance Coin
• Ethereum
• Bitcoin Cash
• Uniswap
• Dash
• Monero
• And many, many more

New cryptocurrencies are surging through the market every week. Check the Binance exchange for up-to-date details on available cryptocurrencies and anonymous trading limits.

Restrictions & Fees

As mentioned above, Binance does have some restrictions regarding anonymous trading. Transactions valued under 2 Bitcoin (BTC) total daily don’t require account verification, a process typically known as a Know Your Customer (KYC process) check. For larger daily trade volumes, margin trading, and other services, KYC checks are required for anti-money laundering (AML).

Finally, while smaller trades are anonymous with Binance, the trading platform charges fees for trade transactions. Binance fees range from 0.015% to 0.10% for purchases and trades, with higher fees for wire transfers or debit card purchases. Always check the Binance exchange for the most current fee information.

Read our full Binance review!

#2: ShapeShift

Taking up the #2 spot on our list is ShapeShift. A few years older than Binance, ShapeShift staked its reputation on valuing user privacy. The platform adopted KYC checks in 2018 and eventually ditched the system to become a leader among decentralized, anonymous exchanges.

Available Currencies

ShapeShift reported offers access to fewer currencies than other exchanges like Kraken, LocalBitcoins, Coinbase, and Changelly. Since the platform has dedicated itself to the security and anonymity of its users, traders can participate in worry-free trading of the following crypto assets:

• Bitcoin (BTC)
• Litecoin (LTC)
• Ethereum (ETH)
• Dogecoin (DOGE)
• Chainlink (LINK)
• And more

Visit the platform’s website for the most up-to-date list of cryptocurrencies available for trade through ShapeShift’s multiple decentralized protocols.

Restrictions & Fees

Since ShapeShift is a decentralized crypto asset exchange, the platform doesn’t have the same limitations and requirements as many popular centralized exchanges such as phone number. Traders can connect their crypto wallets and trade without creating an account or providing personal documentation.

Like other exchanges, ShapeShift requires traders to pay fees to complete crypto transactions. At this time, fees range around 0.5%. See the ShapeShift website for the most up-to-date information on fees for anonymous crypto trading on the exchange.

#3: Bisq Network

The Bisq Network Exchange began as an open-sourced decentralized exchange. The app uses a sizeable order book to help put traders back in complete control of their trades on the exchange. Because the Bisq Network Exchange is decentralized, meaning there’s no need for accounts, and traders can skip the KYC checks.

Available Currencies

The Bisq Network Exchange began as the Bisq DAO, or Decentralized Autonomous Organization. The primary goal was to provide secure, decentralized Bitcoin trading on the blockchain. The Bisq Network Exchange allows users to buy Bitcoin and sell it for fiat currency or other cryptocurrencies, including:

• USD
• CAD
• EUR
• INR
• JPY
• SAR
• AUS
• And many more

The Bisq Network Exchange allows users to trade in various fiat currencies, cryptocurrencies, altcoins, and stablecoins, provided one side of the transaction is Bitcoin. The Bisq Network website houses a wealth of information to help users understand and make the most of trading on the exchange. Visit the Bisq Wiki for a complete list of available payment methods.

Restrictions & Fees

As mentioned above, the most significant restriction when trading on the Bisq Network Exchange is that one side of the transaction must always be Bitcoin. Beyond this limitation, users can trade securely and freely without account verification or Know Your Customer (KYC) checks.

Like many other exchanges on this list, the Bisq Network uses trading and mining fees as a method of support for the exchange. See the Bisq Network FAQ for answers to your questions regarding fee structures and more.

Read our full Bisq Network review!

#4: KuCoin

Centralized cryptocurrency exchanges often offer extra layers of security, but it can be challenging to find a centralized exchange that allows for anonymity during trades.

Launched in 2017 in Seychelles, KuCoin took years of development and tweaking before its creators felt satisfied with its features enough to make it publicly available. Over time, the exchange went from being restricted to crypto-to-crypto exchanges to gradually including the ability to link bank accounts, debit cards, and other payment forms.

Available Currencies

Like many digital currency exchanges, KuCoin is still growing to match the increasing number of assets available on the market. With hundreds of digital and crypto assets available, though, traders can be sure to find the one they prefer. Buyers, sellers, and traders alike can choose among:

• Bitcoin (BTC)
• Bitcoin Cash (BCH)
• Ethereum (ETH)
• Ripple (XRP)
• ERC-20 tokens
• Litecoin (LTC)
• And so many more

You can find the most current list of available currencies, cryptocurrencies, and digital assets on the KuCoin website.

Restrictions & Fees

Not all digital asset transactions on KuCoin are free of Know Your Customer checks. To stay anonymous, users must trade under a daily limit of 1,000 USD, and withdraw no more than 5 Bitcoin (BTC) per day. Transactions or withdrawal limits beyond these daily limits will require the completion of a KYC check for trader verification.

As with other exchanges on this list, KuCoin uses a fee system based on transaction totals during a trader’s last thirty days of activity. For the current KuCoin fee schedule, visit their website or view the exchange app.

Read our full KuCoin review!

#5: UniSwap

UniSwap is a rising star among cryptocurrency exchanges. The UniSwap exchange focuses on ERC-20 tokens or Ethereum blockchain tokens utilizing a unique protocol. Easily swap out other currencies and cryptocurrencies against the value of these tokens using a simple and user-friendly interface.

Available Currencies

UniSwap allows the exchange of countless cryptocurrencies, fiat currencies, and crypto assets for Ethereum-based tokens. Utilizing the automatic market maker process, users can trade between dozens of tokens and other assets, including:

• ETH
• USDC
• MKR
• MATIC
• WBTC
• And many more

Traders can also choose between different networks to trade through, such as Ethereum, Polygon, Optimism, and more. Visit the UniSwap website for detailed lists of available tokens, current pools, charts, and more.

Restrictions & Fees

With UniSwap, users do not need to create an account. Traders may link the desired wallet address to contribute to pools and have the UniSwap protocol select trading pairs. Wallet codes are encrypted and do not disclose a trader’s real identity, allowing for complete anonymity while trading on the platform.

Like most exchanges, UniSwap implements a fee schedule for support. Currently, UniSwap fees sit at around 0.3% but may be subject to change.

Read our full UniSwap review!

#6: Balancer

Balancer launched in 2019 as an exchange developed following UniSwap’s Automated Market Maker model. What this exchange lacks in years, it more than makes up for in flexibility, privacy, and security.

Like UniSwap, Balancer traders add to liquidity pools created for specific tokens. Traders may specify asset percentages for target trading pairs, choose desired tokens for exchange, etc.

Available Currencies

The Smart Order Routing selection process is automated and, like UniSwap, focuses on ERC-20 and Ethereum-based tokens. With this in mind, users can still swap between a variety of different cryptocurrencies and crypto assets, including

• Balancer
• USD Coin
• Dai Stablcoin
• Wrapped BTC
• Tether USD
• Maker
• Chainlink tokens
• Uniswap
• Rocket Pool
• And many, many more

Since cryptocurrency markets are constantly changing, it helps to keep an eye on the Balancer app and website to know which currencies, tokens, and crypto assets are currently available through the exchange.

Restrictions & Fees

Because the Automated Market Maker system works to link directly to a trader’s cryptocurrency wallet, users do not need to create an account or be bothered by account verification processes. Simply choose a wallet compatible with ERC-20 tokens and link the wallet through the Balancer website or app.

As always, specific fees may apply for any transaction completed through the Balancer Exchange. See the Balancer website and mobile app for up-to-date details.

Read our full Balancer review!

#7: Block DX

Block DX facilitates secure direct trading between buyers and sellers of various cryptocurrencies as a decentralized peer-to-peer network. Because the Blocknet Protocol uses a floating order book not tied to a central server, the exchange does not need account creation or personal information.

Available Currencies

Block DX allows traders to trade, sell, and buy dozens of different assets, such as:

• Bitcoin
• Bitcoin Cash
• Bitcoin CZ
• Bitcoin Gold
• Helium
• Dogecoin
• DogeCash
• DigiWage
• SysCoin
• And many more

The Block DX Exchange keeps a running list of accepted crypto assets, currencies, and tokens. Visit their website for more information.

Restrictions & Fees

Block DX boasts no geographic restrictions, few limitations for trade amounts, and does not require accounts, KYC checks, or any other type of transactional verification process.

In addition to having few restrictions for on-network transactions, Block DX fees are reasonable and distributed among several network nodes throughout the decentralized system.

Read our full Block DX review!

#8: Bybit

Yet another fantastic exchange platform that does not require KYC checks, Bybit, launched in 2018 in the British Virgin Islands. Though this platform targets seasoned traders, especially because it offers derivatives trading. The interface is user-friendly and suitable for novices looking for a way into the cryptocurrency market.

Available Currencies

One drawback for Bybit is that the platform offers a limited range of cryptocurrencies available for purchase through fiat currency deposits. Designed as more of a crypto-to-crypto exchange, the currencies users can buy with fiat deposits include:

• BTC
• ETH
• USDT

However, the exchange does boast acceptance of more than 43 fiat currencies in exchange for crypto assets. For a complete list of available currencies, visit the Bybit website.

Restrictions & Fees

As mentioned above, one of the significant drawbacks of Bybit is that it’s a limited exchange designed to facilitate crypto-to-crypto exchanges. For this reason, some fiat-based cryptocurrency trades may involve a third-party processor, inviting the possibility of Know Your Customer checks or other identity verification processes.

You can expect to incur fees for most transactions processed through Bybit. Though fees currently sit around 0.05%, users can expect changes and should check Bybit reference material frequently for updates.

Read our full Bybit review!

#9: 1inch

The 1inch Exchange is young, entering the market in 2019. This one is unique, and functions more as a sort of comparison platform for all of the major decentralized cryptocurrency exchanges. Users can browse through Uniswap, the Kyber Network, and many other exchanges to choose the liquidity pools, pricing, fee structures, and other desired trading criteria.

Available Currencies

Because of 1inch’s aggregate design, traders have access to an incredible range of cryptocurrencies, tokens, and other assets for trade. Among those, traders can find:

• Ethereum
• USD Coin
• Dai Stablecoin
• Tether USD
• Wrapped BTC
• Binance USD
• Chain Link
• Uniswap
• Graph Token
• And many more

Find a current list of accepted currencies and tokens by visiting the 1inch Exchange today.

Restrictions & Fees

Like other exchanges, 1inch does not require account creation to begin trading. Users can simply link the desired crypto wallet before choosing tokens to swap from and to on the exchange.

Because 1inch is an aggregate-style market that allows traders to look through various order books from major exchanges, fees are unpredictable. The benefit of this is that it enables traders to shop for the fees and prices that best suit their investment goals. As always, see the exchange for exact details.

Read our full 1inch review!

#10: Paxful 

Sometimes, less is more. For those traders looking for a little less freedom of choice for their cryptocurrency experience, Paxful is an excellent choice. This Bitcoin-only exchange keeps transactions private and secure and allows for the usage of nearly every fiat currency available.

Available Currencies

As mentioned above, Paxful is a Bitcoin-only exchange, meaning users can only buy, sell, or trade bitcoin on this platform. With this limitation in mind, the platform still allows for using many fiat currencies for the other side of the bitcoin transaction. Exchange Bitcoin for:

• US Dollar (USD)
• British Pound (GBP)
• Canadian Dollar (CAD)
• Euro (EUR)
• Indian Rupee (INR)
• Kenyan Shilling (KES)
• Nigerian Naira (NGN)
• And many, many more

Since markets are constantly expanding to allow for new and improved trade opportunities, keep checking the Paxful website for an up-to-date list of available cryptocurrencies and assets.

Restrictions & Fees

Like other exchanges on this list, Paxful does not require account creation or Know Your Customer checks before traders can use the platform. This allows for anonymity and security, and freedom of wallet choice.

Because Paxful accepts many different fiat currencies, transaction fees can range widely. While some fees may be as low as 0.5%, some go as high as 1%. Be sure to check the Paxful website for accurate fee information before committing to a transaction on the exchange.

Read our full Paxful review!

What Are Anonymous Bitcoin Exchanges?

Due to various factors, many cryptocurrency exchanges lack anonymity. Purchased cryptocurrencies like bitcoin can easily be traced back to a buyer or seller through linked financial information. Linking financial data may include:

• Certain cryptocurrency wallets
• Bank account details
• Personal details
• Credit card numbers
• And more

While a lack of anonymity poses no risk for most investors, many traders prefer the safety and security of anonymous cryptocurrency transactions. Fortunately, anonymous cryptocurrency exchanges allow users to link secure crypto asset wallets instead of divulging personal information for account creation and verification.

Benefits of Choosing an Anonymous Exchange

The truth is there are many legal reasons to trade cryptocurrencies anonymously. With the wide variety of new crypto assets and markets available, many users need to protect themselves.

A great way to boost safety and security while making crypto asset transactions online or on any mobile marketplace is to make transactions anonymously. This keeps sensitive financial information from falling into the hands of undesired third parties, such as legacy systems or rogue banks.

In addition to the above, anonymous trading through both centralized and decentralized cryptocurrency exchanges allows traders an added layer of protection against hacking, data breaches, and other incidents that put their personal information or financial futures at risk.

Frequently Asked Questions

Do I need to be 18 to buy cryptocurrencies? 

There are currently no age restrictions regarding most cryptocurrency trades. Some accounts or wallets that require Know Your Customer checks or other verification processes might require age verification. Always check with your intended exchange platforms or wallet system before making account commitments.

While there may not be age restrictions regarding cryptocurrency buying, selling, or trading on some markets, these may not always be the wisest financial actions. If you’re young or inexperienced with investing in cryptocurrency, talk to your guardians or financial advisors before choosing which crypto assets are smart choices for your financial situation.

What is a KYC check? 

A KYC Check is a Know Your Customer Check. Many centralized cryptocurrency exchanges and crypto wallet organizations use this verification process. Banks and other financial institutions may require proof that a trader:

• Is who they claim to be
• Are the owners of specific assets
• Have specific assets
• And more

In most cases, exchanges explain upfront whether or not there‘s no KYC checks and why. Always vet your chosen cryptocurrency exchange platform and wallet system to verify that you remain anonymous throughout the trading process.

What happens if I fail a KYC Check? 

In many cases, a failed KYC check is due to information errors. If the exchange or wallet allows, resubmit the required information. If the financial entity does not allow for additional KYC checks, simply choose another cryptocurrency exchange or wallet program to conduct your transactions.

Final Thoughts

While there are many cryptocurrency exchanges, not all of them are created equal. Whether you’re a novice trader or a seasoned cryptocurrency expert, choosing an exchange that values privacy and anonymity as much as you do is essential for your personal and financial security.

While our top picks for anonymity, choice, and trading fees are Binance and ShapeShift, the best Bitcoin anonymous crypto exchange for you is the one that meets your needs without charging exorbitant fees. Browse the list above thoroughly, and if you still have questions about various exchanges, visit their websites and read their FAQs.

At Smart Billions, we believe the most important asset you can have when making investment decisions is information. To learn more about cryptocurrencies, trading, exchange platforms, and more, browse our website and sign up for our learning course today.

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