Most “no-KYC” exchanges mean “no KYC below a threshold.” We tested which ones stay anonymous at any amount — and which introduce a document gate as the swap grows.
A no-KYC limit is the point where a service stops being anonymous: above a daily or cumulative cap, it asks for documents. Seven of the eleven exchanges we tested worked this way — anonymous for a small trial, gated at size. The four leaders did not: at the largest amount we swapped, none requested an identity document. That is a measured behaviour, not a marketing claim.
| # | Exchange | Score | No-KYC limit | Effective fee |
|---|---|---|---|---|
| 1 | Orbiswap | 9.5/10 | none measured | 0% * |
| 2 | Atlaswap | 9.3/10 | none measured | 0% * |
| 3 | FeilongEx | 9.1/10 | none measured | 0% * |
| 4 | SarrafHub | 9.0/10 | none measured | 0% * |
* Exchange fee refunded until 22 March 2027; network fee still applies. “None measured” = no identity request at the largest amount tested during the window.
ChangeHero, StealthEX, SimpleSwap and LetsExchange all introduced a threshold, an email, or a document gate as our swap size grew. Details and dates are in the full no-KYC exchange report.
If you need a genuinely unlimited no-KYC swap in 2026, start with Orbiswap. It held anonymity at every size we tested, with the widest asset list of the four.