Best Anonymous Crypto Exchanges

Best Anonymous Crypto Exchanges

Robert McDougall 

January 20, 2023

Cryptocurrency

Cryptocurrency exchanges are becoming increasingly popular as more and more people seek to invest in digital assets. However, many people are concerned about the security and privacy of their personal information when using these exchanges. For this reason, anonymous crypto exchanges have emerged as a popular alternative.

Anonymous cryptocurrency exchanges allow users to trade crypto without the need to provide personal information, ensuring greater privacy and security. In this article, we will take a look at some of the best anonymous crypto exchanges currently available, highlighting their features and benefits. Whether you're looking for added privacy, you're under 18, or simply can't be bothered uploading ID for KYC, you're sure to find a platform that meets your needs.

The Best Anonymous Crypto Exchanges in 2023

  1. Bybit: Best anonymous crypto exchange overall
  2. MEXC: Best anonymous crypto exchange in the USA
  3. Margex: Best for anonymous margin trading
  4. KuCoin: Best for free trading bots
  5. Bitfinex: Best for anonymous derivatives trading 
  6. PrimeXBT: Best for anonymous CFD trading
  7. Bisq: Anonymous decentralized Bitcoin exchange

The top anonymous crypto exchanges: Reviews

We spent countless hours researching, registering, and testing out anonymous crypto exchanges, and we have narrowed down our list to these 7 exchanges. We have written a short review about each one of them, and why they deserve to be on our list. For more information about any of these anonymous exchanges, click on the relevant links to see the full review.

#1. Bybit: Best anonymous crypto exchange overall

Bybit is one of the largest crypto exchanges in the world, and we were happy to find that it can be used anonymously. To test this out, we signed up a new account, bought BTC, made a few trades, and then withdrew crypto to our external wallet, all without having to submit any KYC documentation. This is excellent for those who want to maintain their privacy. You can never be too careful with your personal information, especially if trading large amounts. 

Bybit is a leading crypto trading platform that has been around since 2018. We delved deeper to see if it is a trustworthy exchange. We found that they have over 10 million users worldwide, with daily trading volume exceeding $10 billion. It has industry-leading security, and a transparent proof of reserves system, where users can verify Bybit's holdings and authenticate that assets are held 1:1. This ensures that an FTX-style event will not occur at Bybit. We can confirm that Bybit is a secure and legitimate crypto exchange.

Bybit is excellent for frequent traders, offering low trading fees of 0.1% for spot trading and just 0.01/0.06% (maker/taker) for derivatives trading. The site has more than 280+ cryptocurrencies, and features advanced charts, technical analysis tools, and margin trading with leverage up to 100x.

If you are a newcomer to crypto, Bybit can also cater to your needs. It has a user-friendly interface and offers a fiat gateway for purchasing crypto instantly using various popular payment methods. Buy crypto with Visa, Mastercard, Apple Pay, Google Pay, or bank transfer. Additionally, Bybit's testnet mode allows new traders to practice trading with play money and learn about different strategies. If you ever find yourself stuck, there is excellent customer support through 24/7 live chat. 

One problem with Bybit is that it is not available for US residents, as the site is blocked in the country. However, since you can remain anonymous on Bybit, you can easily use it in the US if you use a VPN and change your location to an accepted country, such as Australia.

Pros
  • Large global exchange that has been around since 2018, and has over 10 million users
  • More than 280+ cryptocurrencies available to trade
  • Extremely low trading fees
  • 24/7 live chat support
  • Testnet demo mode so you can learn how to trade and test out new strategies risk-free
Cons
  • Not available in the USA

#2. MEXC: Best anonymous crypto exchange in the USA

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Receive FREE $30 USDT by clicking here to register

MEXC Global is the top anonymous crypto exchange in the USA. It is one of the world's largest crypto trading platforms, with more than 1,520+ coins, and over 2,110 trading pairs, offering a huge array for any type of trader. Fees are also attractive, at 0% for makers, and only 0.2% for takers when spot trading, and 0.06% for takers when futures trading.

A big question that our readers ask is how can we trust any exchange now, after what happened with FTX. MEXC is actually one of the most trusted crypto exchanges, and this was evidenced by the large influx of funds into the platform in the immediate wake of the FTX collapse. From our research, we saw that there was massive outflow of stablecoins from huge international exchanges such as KuCoin, OKX, Binance, and Huobi, but we actually noticed a net INCREASE of $15m going into MEXC. This led to a new 24-hour volume record for the exchange, at over $20B for spot trading and $67B for derivatives.

MEXC has a very strict user reserve system, where any customer funds can be redeemed 100% at all times. This is why they are trusted by so many users, and also the reason we place it highly in our list of anonymous exchanges.

If you are looking to instantly buy crypto, MEXC is a great place to do it, with a fiat gateway that supports various popular banking methods. If you are more into trading, then you will be spoilt for choice, with spot trading, margin trading, futures trading, and more. If you are just starting out with crypto trading, we suggest you have a look at our FREE crypto trading course, designed specifically for beginners. It takes you through a step-by-step of techniques on how to trade effectively, including plenty of screenshots from our MEXC account so you can follow along easily.

If you don't have time to trade yourself, but you want to take advantage of market swings, copy trading could be the perfect feature for you. All you need to do is browse through the available list of the best traders, and select one you like, based on their past performance, risk appetite, and trading style. Once you have selected one, your account will automatically place the exact same orders and trades as the person you are copying. You will be profiting from their experience and knowledge of the market. When we tested out this feature, we tried out 10 different traders, and over a 1 month period, we made profits on 8 out of the 10. This is a pretty good outcome, but remember that individual circumstances vary, and there are no guarantees that you can achieve the same outcome.

To learn all about MEXC has to offer, you can see this review or visit the official website here. If you decide you want to use MEXC, then you can claim $30 USDT for FREE, as well as 10% discounted trading fees on your account by signing up here

Pros
  • FREE $30 USDT plus 10% off trading fees
  • Over 1,520+ coins, and 2,110+ trading pairs
  • Spot, margin, and futures trading available
  • Low fees of 0.0/0.2% for spot trading and 0.0/0.06% for futures
  • Copy Trading feature so you can profit from the experience of successful traders
Cons
  • No fiat withdrawals supported, which is typical of many trading platforms

#3. Margex: Best for margin trading anonymously

Margex is an anonymous crypto exchange that focuses on margin trading. If you are new to crypto trading and are not sure what margin trading is, it is when you borrow funds to maximize the profits you gain when the price moves in your favour. However, if the price swings the other way, you can very quickly lose your entire investment. We do not recommend margin trading to anyone that is not experienced, so if you are a newbie, we suggest you try a different exchange.

Margex claims that they place a huge emphasis on security, so we investigated the exchange and found out what kind of security measures they employ. Margex uses cold storage to keep 100% of cryptocurrencies offline, which is higher than the industry average of 95-97%. This ensures that your funds are always held safe, with bank-level security protocols in place. Margex has also gone to additional lengths to prevent price manipulation by using a unique system that utilizes AI-based algorithms.

Margex's low trading fees are quite attractive to traders, at 0.019% for makers and 0.060% for takers, and traders can access up to 100x leverage. However, it should be noted that spot trading is not available on the platform.

The one negative point about Margex is the small range of 13 cryptocurrencies, one of the most limited numbers we have seen on any crypto exchange. This can turn some traders away, but for those who focus mainly on the popular liquid coins, this is not an issue.

If you're interested in Margex, be sure to sign up with this link and claim your welcome offer of $100 bonus FREE, plus 15% of your first deposit amount as a bonus. 

Pros
  • Extremely low fees of 0.019/0.060% (maker/taker)
  • Excellent customer support available
  • Extremely secure anonymous exchange
  • Unique system to prevent price manipulation
  • Welcome offer of $100 bonus FREE, plus receive 15% of your first deposit as bonus
Cons
  • Only supports 13 cryptocurrencies
  • Only margin trading, no spot trading available

#4. KuCoin: Best for free trading bots

KuCoin is another one of the best crypto exchanges, with over 11 million users worldwide, and a huge range of 700+ coins. We were glad to find out that it was an exchange that you can use anonymously, and we tested it out straight away. It only takes minutes to register on KuCoin, and you can deposit your crypto immediately and start trading, without any KYC. They did ask for identity verification, but you can decline. However, note that if you remain anonymous on KuCoin, you can only withdraw up to 1 BTC every 24 hours. We successfully made some trades and then withdrew crypto back to our hard wallets with no issues, remaining completely anonymous the whole time.

Since FTX's collapse, we take greater care in scrutinizing crypto exchanges and confirming they are safe before we recommend them. When we looked at KuCoin's history, we see that they were hacked in 2020, but they managed to work hard and recover an incredible 84% of these funds. The remainder that was lost was covered by the exchange, so no customers suffered any loss from this ordeal. This is an excellent outcome, and gives their customers assurance that their funds are always safe from malicious attacks. What about the possibility of KuCoin freezing withdrawals as they can't afford to process them all? This is also not an issue, since they have public proof of reserves, and all customer funds are held 1:1. It is easy to sign into your account and verify your own crypto, to see that it is available to withdraw at any time. 

Besides their security, why is KuCoin such a popular anonymous exchange? The greatest reason is most likely the depth of features that they offer their users. Spot trading, futures trading, margin trading, P2P marketplace, crypto lending, staking, and more. Fees are also extremely low, at only 0.1% for spot trading, and 0.02/0.06% for futures trading. If you use their native coin (KCS) to pay the trading fees, it reduces the fee by 20%, which is an excellent saving. Large volume traders can also discount their fees depending on the trading volume over the last 30 days.

The free trading bots available on KuCoin are another drawcard to many savvy traders. There are some bots that you need to pay a monthly fee to use, but KuCoin offers them free of charge, which is excellent. We have tested out the bots on KuCoin and they were perfectly, executing the trades exactly as they're meant to, with no bugs. It is so useful for taking advantage of sudden market swings when you don't have time to check the graphs all day.

Pros
  • More than 700+ coins available to trade
  • Low spot trading fees of 0.1% and futures trading fees of 0.02/0.06%
  • Spot, margin, and futures trading available
  • Free trading bots included in the platform
  • Crypto lending, crypto borrowing, and staking supported
Cons
  • Poor customer service - no live chat available

#5. Bitfinex: Best for anonymous derivatives trading

Bitfinex is another anonymous crypto exchange, and after testing it out, we knew we had to include it in our list of best anonymous crypto exchanges. One of the main advantages of using Bitfinex is its high trading volume, which leads to deep liquidity in the markets and tight spreads. This means that users can buy and sell digital assets at competitive prices, making it a great option for both retail and institutional traders.

Another advantage of Bitfinex is the wide range of trading pairs. The exchange offers trading in more than 150 cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, as well as a variety of stablecoins. This diversity allows users to easily take advantage of trading opportunities across different assets.

In addition to its trading capabilities, Bitfinex also offers advanced features for experienced traders, such as margin trading and derivatives trading, and the fees are attractive. Spot trading is only 0.1/0.2% (maker/taker) and 0.02/0.075% (maker/taker) for derivatives trading. 

When we checked Bitfinex's reserves in Dec 2022, we found that they hold $3.5 billion in BTC. This is the largest amount of BTC reserves of any crypto exchange at the time, ahead of OKX in second place ($1.5 billion) and Binance in third ($5 billion). You don't need to worry about your funds when you use Bitfinex, as they have a ton in reserves.

Finally, when you use Bitfinex, you will notice the user-friendly interface, which makes it easy for new customers to navigate the platform and start trading quickly. There is also a helpful customer support team available when you need assistance, for any reason.

Pros
  • Spot, margin, and derivatives trading supported
  • Well-established exchange that has been around for over a decade
  • High liquidity and trading volume
  • More than 150+ coins and 300+ trading pairs
  • Crypto exchange with the largest amount of BTC in reserves
Cons
  • Trading fees are higher than some other exchanges on this list

#6. PrimeXBT: Best for anonymous CFD trading

PrimeXBT is a unique anonymous crypto exchange because it is a CFD (contract for difference) trading platform. With CFD trading you are betting on price movements of a cryptocurrency (whether it will rise or fall) instead of owning the actual coin. One advantage is that you can make money from the crypto price falling as well as rising, and another advantage is that you don't need to worry about your crypto being stolen, as you never own the asset itself.

PrimeXBT is perfect for those who like to trade other assets besides crypto, as it also offers forex, commodities, and stock indices. It is an excellent way to diversify your trading strategy and take advantage of trading opportunities across different markets. We navigated through the various markets and made some trades on S&P 500, NASDAQ, and Gold. If you have crypto trading knowledge, you will easily be able to transition to trading other markets on PrimeXBT, as the user-interface is easy to understand. If you have never dabbled in other markets before, this is your chance.

If you are completely new to trading and you want to get started (with either crypto or traditional markets), you might find the 'Covesting' feature useful. This is commonly known as copy trading, and how it works is you select a successful trader that you want to follow. Every time they make a trade, your account will automatically make the exact same trade, meaning you profit when they do. While there are no guarantees that you will make money, it is an excellent way to benefit from the experience and knowledge of successful investors. 

The fees at PrimeXBT are very low, at only 0.05%, but you need to remember that on this platform, you can only margin trade using CFDs. If you want to spot trade, you will need to select another exchange from this list. Have a look at our PrimeXBT review to learn more, or visit the official website.

Pros
  • Trade 40+ different cryptocurrencies, 50+ forex pairs, 11 stock indices, 5 commodities
  • Covesting available to copy the trades of successful investors
  • CFD trading means you can bet on prices to rise or fall
  • Live chat support
Cons
  • Only supports margin trading with CFDs - no spot trading
  • Not available in the USA, Canada, France, Japan, and Israel

#7. Bisq: Anonymous decentralized Bitcoin exchange

We give a special mention to Bisq, as it is the most anonymous crypto exchange in our list. It is completely decentralized, and operates on a peer-to-peer (P2P) network, with no reliance on centralized servers or intermediaries, which is excellent for those who value privacy and want to keep their financial information secure. You can trade without providing any personal information at all, not even a name. Bisq is non-custodial, meaning there are no assets (either crypto or fiat) stored on the server, so you can always trust that your funds are safe as they are in your possession.

Bisq offers over 15 payment methods, such as bank transfer and cash deposits, and has a wide range of 125+ cryptocurrencies to trade. However, we found that all trade pairs are against BTC; if you wish to trade crypto against fiat currency, this is not possible on Bisq. The great thing is that trading fees are very low, at only 0.05% for makers and 0.35% for takers. 

To summarize, Bisq is an excellent choice for those who want a completely anonymous way to buy and trade crypto. The peer-to-peer network and built-in escrow system provide added security, so you can always trust your funds are safe.

Pros
  • Completely anonymous and decentralized platform
  • Trade peer-to-peer without providing any identification
  • Non-custodial platform, so no crypto or fiat funds are stored on the server
  • More than 125+ cryptocurrencies to trade
  • Over 15+ payment methods accepted
Cons
  • Not suitable for beginners
  • BTC is the only crypto you can trade against

Frequently Asked Questions:

What is the best anonymous crypto exchange?

Bybit (read review) is the best anonymous crypto exchange overall. One downside is that Bybit is not available in the US; if you live in the USA, the top pick of anonymous crypto exchange is MEXC (read review).

Can I buy crypto anonymously?

Yes, you can buy crypto anonymously. While many crypto exchanges require you to provide ID before you can start using their services, there are a handful of platforms where you can remain anonymous. All the exchanges on our list in this article allow you to buy crypto anonymously. Even if you are under 18, you will be able to buy and trade crypto without ID.

Can I use Binance anonymously?

Previously, you could use Binance anonymously, but now they have a strict identification policy. There are some anonymous crypto exchanges that offer similar service to Binance, such as Bybit (read review), MEXC (read review), and KuCoin (read review). 

Can I use Kraken anonymously?

Unfortunately, you cannot use Kraken anonymously. They follow strict KYC guidelines since they are a US company; they must meet the criteria to operate legally in the States.

Can I use Coinbase anonymously?

No, you cannot use Coinbase anonymously. All Coinbase users need to submit identity documents to use the exchange. If you want to remain anonymous while trading or buying crypto, use one of the anonymous crypto exchanges in this article.


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