Nonkyc.io

What is Nonkyc.io?

NonKYC.io is a centralized cryptocurrency exchange launched in 2023, designed to prioritize user privacy by offering trading without mandatory Know Your Customer (KYC) verification. Registered in the Seychelles, the platform supports over 187 cryptocurrencies and 359 trading pairs, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Monero (XMR), Dogecoin (DOGE), and its native NonKYC Token (NKYC), with a 24-hour trading volume of approximately $5.49 million. NonKYC.io targets traders seeking anonymity, particularly for small and medium market cap assets, and emphasizes low fees, fast transactions, and robust security to deliver a seamless trading experience.

The platform offers spot trading and automated market maker (AMM) liquidity pools, allowing users to contribute to liquidity and earn a share of trading fees. It supports privacy-focused coins like Monero, appealing to users prioritizing anonymity. NonKYC.io’s interface is user-friendly, with a web platform and planned mobile app support, and its proprietary trading engine, built from scratch by experienced developers, handles high-speed transactions with comprehensive DDoS mitigation. The exchange facilitates crypto-to-crypto trading without fiat on-ramps, requiring users to deposit existing cryptocurrencies. Features like market-making services for token projects and a referral program enhance its ecosystem, while the NKYC token offers a 25% trading fee discount and access to exclusive events like initial exchange offerings (IEOs).

Security is a stated priority, with 98% of funds in cold storage, hot wallet reserves for trading, two-factor authentication (2FA), encrypted wallets, real-time backups, and an insurance wallet funded by trading fees to cover potential breaches. NonKYC.io claims to conduct regular internal and third-party security audits and provides a proof-of-reserves dashboard, reporting $13.9 million in reserves, though detailed audit reports are not publicly available. Regulatory compliance is minimal, aligning with its no-KYC stance, but this limits services in countries like the U.S., Canada, and OFAC-sanctioned regions due to strict regulations.

Despite its appeal, NonKYC.io faces scrutiny. A 2024 Reddit post flagged suspicious responses from a representative regarding AML policies, raising concerns about arbitrary fund freezes based on undisclosed “AML scores.” Trustpilot reviews are mixed, with some users praising fast support and coin variety, while others criticize random delistings with short notice, potentially leading to lost funds, and allege the platform mimics Xeggex, another exchange. Recent X posts show active engagement, promoting new listings like WEN and top gainers, but also report hosting issues, indicating operational challenges. For privacy-focused traders, NonKYC.io offers a compelling platform, but its lack of regulatory oversight, limited transparency, and user complaints warrant caution.

What are the trading fees on Nonkyc.io?

NonKYC.io charges a flat 0.2% fee for spot trading (makers and takers), which is competitive but slightly above the industry average of 0.1%–0.15% for larger exchanges. Fees decrease based on 30-day trading volume or NKYC token holdings, with top tiers offering as low as 0.1%. Paying fees with NKYC tokens grants a 25% discount. Deposits are free, but withdrawal fees vary by coin and network (e.g., 0.0005 BTC for Bitcoin, 0.01 XMR for Monero). Users should review the fee tier table on NonKYC.io’s website for precise rates, as third-party network fees may apply.

Does Nonkyc.io offer leverage trading?

No, NonKYC.io does not currently offer leverage trading, margin trading, or futures trading. The platform focuses exclusively on spot trading and AMM liquidity pools, limiting its appeal for traders seeking leveraged products. Users interested in leverage should consider alternatives like WOO X (up to 100x leverage) or Margex (up to 100x leverage), noting regional restrictions.

Is there a research audit report for Nonkyc.io?

NonKYC.io claims to conduct regular internal and third-party security audits and provides a proof-of-reserves dashboard, reporting $13.9 million in exchange reserves. However, comprehensive third-party audit reports are not publicly disclosed, and reserve data lacks detailed verification on platforms like CoinMarketCap or CoinGecko. The platform’s insurance wallet and security measures (cold storage, 2FA) aim to enhance trust, but the lack of transparent audit reports, combined with user concerns about fund safety, raises questions about reliability. Traders should verify reserve data via NonKYC.io’s dashboard and approach with caution due to limited external validation.

Is Nonkyc.io safe?

While many major CEXes boast stronger firewalls than most governments, history has witnessed numerous instances where exchanges have fallen victim to hacks, resulting in the loss of customer funds. DEXes are generally safer option as you have control over your funds at all times as long as blockchain is up and running. It's all based on contract code so you can clearly look at what's behind the scenes, and how their contracts work.

Does Nonkyc.io have customer support?

Almost all exchanges provide customer support, but the quality, speed and continuity of this service varies from time to time depending on the budget conditions of the companies. We recommend that you experience the customer support service provided by the centralized crypto exchange by asking a question to the support section on its website.