Trading platforms that require no verification for trading are becoming rarer and rarer. If you truly want to be anonymous when trading crypto, you should consider using decentralized crypto exchanges like Uniswap and dYdX. For an additional layer of anonymity, you can consider using privacy-enhancing platforms and wallets when connecting to decentralized exchanges. However, even those reserve the right to initiate the verification process at any point in time. That goes against the ethos of crypto, but that’s the reality we live in. In order to comply with regulatory requirements, most centralized exchanges require their customers to complete the KYC process. There are still a couple of centralized exchanges that allow users to trade crypto without completing the KYC.

Easy Ways You Can Turn Crypto Exchange Into Success

YdX is one of the few decentralized crypto exchanges that offers futures trading. The platform has its own native token, DYDX, which accumulates after each transaction and offers holders the ability to participate in governance decisions, such as which crypto to list, distribution of liquidity across different pools, and more. The interface is very similar to what you might find when trading futures on Binance, Bybit, or some other centralized crypto exchange that supports derivatives. You simply need to connect your wallet, and you’re good to go. Like every other decentralized exchange, dYdX does not require KYC for users to start trading.

Although the option to buy and sell crypto with fiat is not available to non-verified users, they can use the crypto swap option (based on Changelly’s spot markets) and the DeFi option (based on decentralized trading pools). This process doesn’t require users to open an account with Changelly. The fees associated with swapping crypto are the conversion fees. In order to exchange crypto, users must send their funds from their blockchain address to the address provided by Changelly.

Users can exchange tokens without providing any personal information or even creating an account. For instance, swapping between Solana and Polkadot is generally faster than between Bitcoin and Ethereum. Each swap incurs a modest service fee, and users can review the expected token amount and set their preferred slippage tolerance before confirming a trade. Swaps on TorrentSwap usually take between 10 and 30 minutes, depending on the specific blockchains involved and factors like network congestion. All that’s needed is a destination address for the swapped tokens. A refund address in case a transaction fails.

In the following sections, we are going to examine the best anonymous cryptocurrency exchange available in the market right now. Please note that none of these exchanges support fiat deposits or withdrawals without verification. They do, however, allow users to deposit and withdraw crypto. KuCoin is one of the best centralized exchanges in the world and one of the few that allows users to trade and withdraw funds without completing a verification process.