What is KYC, and how do no-KYC exchanges work?
KYC, short for "know your customer", is the ID check most crypto exchanges make you pass. Here is what it involves, why it is a risk, and how no-KYC exchanges avoid it.
What KYC means
KYC rules require financial companies to identify their customers. In crypto that usually means uploading a passport or ID card, a selfie, and sometimes proof of address or of where your money came from.
Why people avoid it
- Data leaks. Exchanges are hacked, and leaked ID documents cannot be changed like a password.
- Your coins get a name. Once an exchange knows who you are, every address you withdraw to is tied to you.
- Access. Many people have no ID that exchanges accept, or live where exchanges will not serve them.
How no-KYC exchanges work
Instant exchanges skip accounts entirely: you send coins and get other coins back. Most never ask for anything. Some run automatic risk checks and can hold a swap and ask for ID if the coins look suspicious. Peer-to-peer markets and atomic swaps have no company in the middle at all.
Our KYC scores
Every instant exchange on KYCHunter has a score from A to F that shows how likely it is to ask for ID:
- ANo KYC – Never asks for ID. No account, no AML scoring.
- BMinimal – No ID in practice. May hold clearly illicit funds and ask where they came from.
- CRare – May ask for ID in rare, risk-based checks.
- DSometimes – Asks for ID above certain amounts or when a swap is flagged.
- EOften – Asks for ID for most swaps of any size.
- FRequired – ID is required for every swap.
See every rated exchange on the no-KYC exchanges page.
Is it legal?
In most countries, using a no-KYC service is legal: KYC rules apply to the companies, not to you. Check the rules where you live and pay any taxes you owe.
KYCHunter only links to services; we never hold your funds. Always check a service yourself and start with a small amount.