Lighter vs NightTrader Exchange
It is a trade-off. NightTrader Exchange has the higher Safety grade (6.4 against 6.2), while Lighter has the higher Privacy grade (7.5 against 6.5).
Lighter
Zero-fee perpetuals and spot order book on an Ethereum layer 2, used with your own wallet
Privacy
7.5/ 10
Strong
Safety
6.2/ 10
Fair
No ID mentioned KYC 1 Docs reviewed Full review →
NightTrader Exchange
Order-book exchange using two-key deposit accounts with timelocked refunds
Privacy
6.5/ 10
Fair
Safety
6.4/ 10
Fair
No ID mentioned KYC 1 Docs reviewed Full review →
Side by side
| Lighter | NightTrader Exchange | |
|---|---|---|
| Category | No-KYC Exchanges | No-KYC Exchanges |
| KYC policy | No ID mentioned | No ID mentioned |
| Custody | Non Custodial | Non Custodial |
| Sign-up | No account needed | Email required |
| Open source | No | Yes |
| Tor onion address | No | No |
| Coins | USDC, ETH, BTC, LIT | BTC, LTC, BCH, ETH |
| Pay with | Crypto | Crypto |
| Fees | Standard accounts: 0% maker and taker on regular orders, 0.01% on TWAP/advanced orders and RFQ; Premium/Advanced from 0.004% maker / 0.028% taker | Not published |
| Founded | Not published | 2024 |
| Not available in | United States, Canada, United Kingdom, China, North Korea, Russia, Ukraine, Cuba, Iran, Venezuela, Syria | Not published |
| Incidents on record | 0 | 0 |
| Published tests (180 days) | 0 | 0 |
Only Lighter
No registrationNo email neededNo phone neededExcludes US users
Both
Non-custodial
Only NightTrader Exchange
Multisig or hold-invoice escrowAnonymous operatorRuns an affiliate programme
Where they sit among no-kyc exchanges
Questions
Is Lighter or NightTrader Exchange safer?
NightTrader Exchange has the higher Safety grade: Lighter 6.2, NightTrader Exchange 6.4, out of 10.
Does Lighter or NightTrader Exchange require KYC?
Lighter is KYC level 1 (no ID mentioned). NightTrader Exchange is KYC level 1 (no ID mentioned).
Which has more incidents on record?
Lighter has 0 and NightTrader Exchange has 0 documented incidents in the registry.