In the dynamic world of cryptocurrency, we are constantly evolving, and so are the methods of acquisition. A common hurdle for many potential crypto buyers is the necessity to undergo the Know Your Customer (KYC) process. While KYC procedures are designed to ensure security, prevent fraud, and comply with legal requirements, they can also seem like an unnecessary, time-consuming task to some. On top of that, privacy concerns have prompted many to seek alternative ways to buy cryptocurrencies without going through this process.
This blog post, “How to Buy Crypto Without KYC,” is tailored to help those looking for these alternative paths. We will provide you with information about 4 major cryptocurrency exchanges that offer buying crypto without KYC. On top of that, we provide the necessary details you have to know. So let’s get right into it!
Binance is the biggest cryptocurrency exchange offering many features and advantages.
MEXC is the exchange with the highest withdrawal amount and a broad variety of tradable crypto currencies.
BYBIT offers a solid daily withdrawal limit and a number of crypto coins — perfect for beginners.
KuCoin offers more than 750 tradable crypto currencies and the second-highest withdrawal limit.
OKX offers a good mix of tradable crypto currencies and daily withdrawal limits at the same time.
Want to jump directly to our favorite crypto exchange without KYC? Our favorite crypto exchange is MEXC.
What is KYC?
KYC stands for “Know Your Customer,” and it refers to verifying customers’ identities to prevent fraud and financial crimes. In the context of cryptocurrency, KYC is often required by cryptocurrency exchanges and other platforms that enable users to buy and sell cryptocurrencies.
The benefits of trading cryptocurrencies without KYC include increased privacy and anonymity and the ability to avoid potential data breaches or leaks of personal information. Additionally, trading without KYC may allow for greater flexibility and ease of use, as users do not need to verify their identity each time they want to use a new platform or exchange.
Our Preferred Choice: MEXC
MEXC is a cryptocurrency exchange platform that was established in 2018. It offers users access to a wide range of cryptocurrencies, including popular options like Bitcoin, Ethereum, and Litecoin, as well as a number of lesser-known altcoins.
MEXC is based in Singapore and strongly focuses on serving users in the Asia-Pacific region, although it is open to users from around the world. In addition to its exchange services, MEXC offers a range of trading tools and features, including margin and spot trading.
Overall, MEXC is a reputable exchange platform that has gained a solid following among cryptocurrency traders and investors.
MEXC offers the possibility to trade without accomplishing any KYC process. Currently, the daily withdrawal limit is capped at 5 Bitcoin. Based on the current value of Bitcoin, this equals 100,000 – 150,000 USD. Therefore, it should be suitable for most traders. the assessed crypto exchanges, we found out that MEXC offers the highest daily withdrawal limits. Therefore, the question “how to buy crypto without KYC” can easily be answered with: Use MEXC.
How To Buy Crypto Without KYC — KuCoin
KuCoin is a cryptocurrency exchange platform that was founded in 2017. It offers users access to a wide range of cryptocurrencies, including Bitcoin, Ethereum, and over 700 other altcoins. KuCoin has a user-friendly interface and offers a variety of trading tools and features, including margin trading, spot trading, and futures trading.
The platform also has its own native token, called KuCoin Shares (KCS), which users can hold and use to receive trading fee discounts and other benefits.
KuCoin is based in Hong Kong and is available to users in most countries around the world. The platform has a strong reputation for security and reliability, with features such as two-factor authentication and cold storage of user funds.
Overall, KuCoin is a reputable and well-established cryptocurrency exchange platform that is popular among traders and investors in the crypto community.
KuCoin has a straightforward withdrawal policy for traders without an accomplished KYC process: On a daily basis, it is possible to withdraw tokens worth 1 Bitcoin. At the time of writing this equals 20,000 – 30,000 USD.
How To Buy Crypto Without KYC — OKX
When we started to search for cryptocurrency exchanges to answer the question “how to buy crypto without KYC”, OKX was one of the first results that popped up.
OKX is a global cryptocurrency exchange that was founded in 2017. It is one of the largest cryptocurrency exchanges in the world by trading volume and offers a wide range of cryptocurrencies, including Bitcoin, Ethereum, and over 400 other altcoins.
OKX offers a variety of trading tools and features, including spot trading, margin trading, and futures trading. The platform also has its own native token, called OKB, which users can hold and use to receive trading fee discounts and other benefits.
OKX is headquartered in Malta, with offices in Hong Kong, Singapore, and other locations around the world. The platform is available to users in most countries, with a few exceptions due to local regulations.
OKX is known for its high level of security and reliability, with features such as two-factor authentication, cold storage of user funds, and a bug bounty program to incentivize security researchers to identify and report potential vulnerabilities.
Overall, OKX is a reputable and well-established cryptocurrency exchange platform that has gained a strong following among traders and investors in the crypto community.
Compared to the other crypto exchanges on this list, OKX offers the lowest daily withdrawal limit for traders without KYC. Currently, you are allowed to withdraw 5,000 USD. However, for most traders, this amount will be sufficient.
How To Buy Crypto Without KYC — Bybit
And here’s our fourth alternative to answer your question about how to buy crypto without KCY: Bybit!
Bybit is a cryptocurrency derivatives exchange that was founded in 2018. It primarily focuses on trading cryptocurrency futures, perpetual contracts, and options. Bybit has a user-friendly interface and offers high liquidity with low fees. The platform also offers margin trading with up to 100x leverage, making it a popular choice among more experienced traders.
Bybit is based in Singapore and has offices in China and Taiwan, and it is available to users in most countries around the world, except for a few restricted jurisdictions. Bybit is known for its advanced security features and robust risk management systems, which help ensure the safety of user funds.
Overall, Bybit is a reliable and trusted cryptocurrency exchange platform that has gained a strong reputation among traders and investors in the crypto community.
There are two limits users have to monitor when using Bybit. First of all, Bybit has a daily withdrawal limit for traders without successfully accomplished KYC. Currently, this limit is set to 20,000 USD. On top of that, Bybit has a monthly limit of 100,000 USD.
How To Buy Crypto Without KYC — What Are Your Experiences
We love to hear from you. Tell us what’s your approach to buy crypto without KYC. Which exchange do you use? What’s your experience?