Best No KYC Crypto Exchanges In Australia – Top Picks 2022
In this article, we discuss some of the best No KYC crypto exchanges in Australia that allow their users to purchase/sell crypto assets without KYC verification.
The use of cryptocurrency is rapidly expanding, the main reason is the ease and transparency of transactions and the use of blockchain technology that provides various advanced options.
Top No KYC Crypto Exchanges In Australia To Buy Crypto Anonymously
With the rise in use, the concern for security and risk is also increasing. Due to that regulators are introducing various measures for security gatekeeping, one of them is KYC (Know Your Customer). It is a method where few personal details are asked for verification before allowing the customer to use the platform.
However, many crypto users don’t agree with the KYC process as it replaces the anonymity in the operation.
Still, there are a few No KYC exchanges in Australia to trade cryptos. In this article, we have listed and explained all about the No KYC Crypto Exchanges in Australia. So, let’s start with the article.
|No KYC Exchange||Withdrawal Limits||Trading Fees|
|ByBit||2 BTC/24 hour||Varies|
|Thor swap||No Limit||Varies|
What Is KYC?
The full form of KYC is “Know Your Customer”. It is a security procedure of a platform or exchange, the rule of verification of a person’s identity before allowing them to use the platform. This method is adapted to prevent money laundering and illegal activities.
In the verification process, they might ask for personal details, financial details, or a meetup either physically or through online mode. Through this KYC verification, it can be known that the customer exists and that the details provided are authentic.
In crypto platforms for KYC, mostly customers’ address proof and driving license details are asked. However, all Crypto platforms don’t follow KYC, many allow you to buy crypto without KYC.
Why Do People Want To Avoid KYC?
The KYC method asks for verification of identity from the users. Initially, there was no rule of KYC while trading in crypto but now with the rise in the use of cryptocurrencies the risk is increasing due to which the KYC method is introduced.
However, many users don’t approve of this method due to privacy reasons. Most crypto exchanges don’t even know the identity of their customers, and the users preferred this anonymity feature.
With the anonymity feature, identity is not disclosed and the customers can trade and maintain their secrecy. But this anonymity feature increases the chances of illegal activities. However, there are many decentralized no KYC exchanges.
Best No KYC Crypto Exchanges In Australia – Reviewed
Although few crypto exchanges have introduced the KYC method. There are still many crypto exchanges that don’t follow the KYC procedure. Below we have mentioned the best no KYC crypto exchanges in Australia. Let’s know about the no KYC exchange where you can buy crypto without KYC.
Bybit is a cryptocurrency exchange platform, where you can trade derivatives, spots, and also stake. It allows you to buy, sell and trade cryptocurrencies. The platform offers leverage, it offers Bitcoin 100x and 50x for other coins.
It is a multilingual exchange platform and is reliable. The platform supports the withdrawal and deposit of various coins. Bybit is a user-friendly exchange and has millions of users registered.
It supports 24/7 customer service and doesn’t charge any deposit fees. One unique feature of this platform is that it can support up to 100000 transactions per second, a very fast process.
Bybit exchange offers its customers the to experiment with the trading process without real money through a site. Bybit is one of the best no KYC crypto exchanges in Australia where you can buy crypto without KYC.
Bybit allows up to 2 BTC withdrawals without KYC. It doesn’t operate in the U.S, Singapore, Syria, North Korea, etc. This exchange platform was founded in 2018. It supports around 20 crypto coins and is a liquid exchange platform.
Bybit allows the purchase of crypto through debit or credit card. It has good security measures enabled for the safety of its customers.
Here is a list of some of the pros and cons of the exchange.
- 24/7 customer service with live chat and support tickets
- Fees are low
- Multilingual platform
- Provides a demo platform
- Focuses on high security
- No deposit/withdrawal of fiat money
- Not available in a few countries
Binance is one of the leading cryptocurrency exchanges. It was founded in the year 2017. It allows the trading of cryptos on its platform and offers a wider variety of coins. The Binance exchange platform has its own token called the Binance coin
It offers discounts to the users of Binance coin and also gives referral bonuses. It charges the lowest fees from its customers and has a crypto wallet for fund storage. Binance Exchange declares that it can support up to 1.4 million transactions per second. It supports more than 500 crypto coins including the most popular coins.
The platform offers deposits, withdrawals, fundraising, and trading. It allows the customers to raise funds through Initial Coin Offering. Binance is a No KYC crypto exchange in Australia which offers its users a smooth Binance desktop App, and a mobile App. It helps to know the trading history, charts, market price, orders, etc.
It is a no KYC exchange and can buy crypto without KYC. The daily withdrawal limit without KYC is 0.06 Bitcoin on this platform. The platform provides various security measures for the safety of its users.
Some of the Pros and Cons of this platform are listed below:
- Offer more than 500 cryptocurrencies
- Charges low fees
- Has its own Binance token
- Offers discounts and referrals bonuses
- Offers various advanced features
- The platform is complicated to use
- Not available in a few countries
KuCoin is a crypto exchange that allows trading, lending, staking, margin, spot, and futures. It was founded in the year 2017. The exchange platform has around 10 million users and allows more than 500 cryptocurrencies for trading.
KuCoin offers both mobile apps and a website. It has a variety of features and tools enabled and provides information on price charts, the crypto market, trading, etc. KuCoin has its own token called KCS.
Although the platform has many features, it is not user-friendly. KuCoin fees are very low and anyone using the KCS token can get discounts. The security measures used by this platform are two-factor authentication and an independent password required for trading.
It offers customer support through various options like live chat, support tickets, inquiries for service, etc. The platform doesn’t have a license in the U.S. Kucoin faced a hack in the year 2020, but it was resolved with the insurance fund.
The platform offers free deposits but it charges withdrawal fees from its customers. KuCoin has a feature where automatic trading can be done with a Trading Bot. This platform is suitable for advanced traders due to its high-level features.
KuCoin has some Pros and Cons which you need to know
- Offers more than 500 coins
- Charges low fees
- Offers to earn interest in crypto
- Variety of features and tools
- Provide a feature of the Trading Bot
- Doesn’t have a license in the U.S
- It isn’t user friendly for beginners
Kraken is the oldest crypto exchange platform that started its operation in the year 2013. The platform offers buying, selling, and trading of cryptocurrencies. Kraken offers around 120 coins on the platform to its users.
The exchange offers the spots, margins, and futures trading of cryptocurrencies. Kraken has an easy-to-use interface and is suitable for beginners. Advanced investors can go for Kraken Pro to get access to high-level features.
The fees charged by Kraken pro are less than the main Kraken exchange platform. The security procedure of Kraken is well maintained including two-factor authentication and a privacy lock function and many more.
Kraken is a no KYC crypto exchange in Australia however, there were some reports of hacks on this platform previously. Kraken offers 24/7 customer service by phone, email, and lives chat. The responses on customer service of this platform include both positive as well as negative reviews.
Kraken is a centralized platform, regulated by a third party. The monthly withdrawal limit of the Kraken exchange is $9000. It is also a no KYC exchange, where you can buy crypto without KYC. Users can earn by staking cryptos and the exchange allows a wide range of coins for staking.
Let’s get to know a few of the Pros and Cons of the Kraken exchange:
- Offers more than 120 cryptocurrencies
- Have two platforms for its users
- The platform accepts a few fiats currency
- Charges Low fees
- Fees might be high in the main Kraken exchange
- U.S users don’t have the availability of a few features and tools
Thor Swap is another best no KYC crypto exchange in Australia that allows the swapping of various tokens across chains, it was founded in the year 2018. It helps in the transfer of cryptocurrencies between various blockchains.
Thorchain has several decentralized exchanges operating under it, the Thor swap is one among them. Thor swap is a decentralized platform that was launched as BEPSwap initially. Later, as a cross-chain decentralized exchange, the Thorchain network launched Thor swap.
Thor swap is one of the most preferred and well-known among the Thor chain network. This DEX platform offers more than 20 cryptocurrencies and operates across six blockchains. It is Thorchain’s multi-chain chaos net.
It allows the swapping of cryptocurrencies and has its own token called $THOR. The platform has its own community named THORChads where users can get multiple pieces of information. The platform makes it easy for the users to swap various cryptos and it also saves the cost of swapping.
Thor swap has gained popularity over time and is preferred by many due to the ease of linking through blockchains. Thor swap allows the swapping of cryptos without any KYC verification, which means a no KYC exchange
A few of the Pros and Cons of Thor swap are mentioned below:
- Makes swapping of coins easy
- It is a decentralized exchange
- Offers more than 20 cryptocurrencies
- Has its own token
- No KYC required
- The Thorchain platform has no information about its founder
- Could be termed a risky platform
Margex is a platform that allows the derivatives trading of cryptocurrencies, founded in the year 2020. It offers leverages up to 100x. The platform has an easy-to-use interface and it provides various materials to the users for convenience. It allows the purchase of Bitcoin through Visa or a MasterCard.
Margex has a high liquidity feature. It doesn’t ask for any deposit fees but charges withdrawal fees.
It has its own Margex wallet. Margex has a variety of security features including two-factor authentication and cold storage wallets. Customer support is 24/7 through email, help center, and live chat.
The exchange platform doesn’t require any KYC verification. It is a no KYC crypto exchange in Australia. In simple words, you can buy crypto without KYC. The minimum withdrawal limit of Margex is 0.002 BTC.
Below we have listed some of the Pros and Cons of the Margex exchange:
- User friendly
- High liquidity
- Trading at 100x leverage
- No KYC verification
- Low fees
- Single withdrawal of crypto
- Supports selected crypto trade pairs
Bitfinex is considered one of the biggest cryptocurrency exchanges. It was founded in the year 2012 and is ranked ninth among all the crypto exchanges in the world. The platform supports more than 170 crypto coins which include Bitcoin, Tether, Ethereum, Solana, Ripple, etc.
It has very low fees and is a user-friendly platform. Bitfinex accepts deposits as fiat or cryptocurrencies. The security measure of Bitfinex was never disclosed; however, it faced a major hack in 2016. A huge percentage of currency is stored in cold storage, except for a few for liquidity purposes. It has 24/7 customer service via email.
It is a no KYC exchange in Australia with a withdrawal limit of 2 BTC without KYC. Let’s see some of the Pros and Cons of the Bitfinex exchange as it will help you to understand the platform better:
- High liquidity
- Low fees
- User friendly
- Advanced trading options
- The popular and oldest company
- Unavailability in the U.S
- Lack of transparency
Bisq exchange is a decentralized cryptocurrency platform that offers peer-to-peer transactions. It is not suitable for beginners, the platform is best for advanced investors with its features and tools.
The exchange offers around 120 coins and also fiat money. It does not ask for any verification, it is a no KYC exchange. You can simply buy crypto without KYC. It has a community token called BSQ, and trading in this token costs half the price of the actual rate. It charges low trading fees as compared to other platforms.
It also provides anonymity to the transaction with an agreement between the purchaser and seller.
The platform does not hold any cryptocurrencies, it acts as a mediator between a buyer and a seller. It has security measures although you need to be extra careful while trading as any lost money can’t be recovered by the exchange platform.
The other name of this platform is Bitsquare. It is a fully decentralized no KYC exchange in Australia. It doesn’t have any withdrawal limit as the platform doesn’t hold any currency. Bisq has a wide variety of payment methods.
For better understanding we have listed some pros and cons:
- Offers full anonymity
- Decentralized platform
- More than 120 coins supported
- No KYC
- Many payment options
- Not suitable for beginners
- No learning material provided
AAX is another no KYC crypto exchange in Australia, operating since the year 2019. It is a user-friendly platform and doesn’t charge any trading fees. It is a multilingual platform and offers many study materials for ease of use.
It allows the exchange of fiat money with crypto. It can be availed through a website or mobile app. It offers peer-to-peer transactions, lending, and spot trading options.
The withdrawal limit of the platform without KYC is 2 BTC. It has around 2 million users, preferred due to its features and ease.
Some of the pros and cons of the AAX platform are:
- User friendly
- No KYC
- Can purchase crypto with fiat money
- Multilingual platform
- Inbuilt calculator
- Liquidity is low
- Non-availability for the U.S investors
It is an online exchange platform founded in the year 2018. It is a user-friendly platform and supports both long and short-term trading. However, it is best for experienced investors. The platform allows only Bitcoin accounts; however, you can use any coin while depositing. It is a no KYC exchange in Australia allowing you to buy crypto without KYC. It is available in all the countries worldwide. It offers leverage up to 100x. It supports only 5 cryptos; however, the popular ones. It has advanced tools and features for its customers. It is a no KYC exchange, hence preferable by many users.
Let’s get to know some of the Pros and Cons of the PrimeXBT platform. It helps in understanding the platform better.
- Provide better security
- Allows fiat purchase
- Fewer fees
- Easy registration
- 24/7 customer support
- Offers only 5 cryptocurrencies
- No purchases by debit/credit card
Which Is The Best Crypto Trading App With No KYC?
Many apps allow trading with no KYC and also have numerous features enabled. Although the apps have some withdrawal limits with the no KYC option. Some of the apps are Bybit, Binance, Kucoin, etc. Choosing the best among them might be a little complicated as every person has their own preferred choice for features and tools. However, bybit can be used by newbies as well as advanced investors.
What is Kucoin’s KYC Limit?
Kucoin is a partial platform, which means it provides both KYC trading as well as no KYC trading. Kucoin’s KYC limit is 5 BTC.
Best No KYC Exchange To Buy Bitcoin In Australia
Many exchanges offer Bitcoin with no KYC in Australia. All of them offer numerous features and tools. If to choose among them Binance will be a good choice. However, it solely depends on every individual’s preference.
No KYC Crypto Exchanges In Australia: Conclusion
With the rise in the use of cryptocurrencies, exchanges are getting popular. People need a medium for trading, buying, and selling coins. They also provide storage and security to cryptocurrencies. Most people get attracted to the exchange due to its privacy feature. The exchanges give anonymity to their users.
They don’t ask for KYC verification while trading. However, a few platforms are introducing KYC; there are still many no KYC crypto exchanges in Australia. These platforms are preferred by many due to the privacy function. All the exchanges have numerous features. Although it depends on you which exchange you want to prefer according to your requirements.