Trade · October 2026

No-KYC crypto swap services

Instant swap services convert one cryptocurrency into another without an account: you paste a receiving address, send your coins and the service pays out. They are the most-used no-KYC tools, and also where most frozen-funds reports come from.

The reason is liquidity. Many swap sites do not hold their own reserves. They pass your order to a larger upstream exchange, and that exchange screens incoming coins. If its screening flags your deposit, the swap stops and you are asked for identity or source-of-funds documents by a company you never chose. Small test swaps go through, which is why star ratings look fine while large swaps get stuck. Each listing here shows the liquidity model, what the terms say about holds, and every documented incident with its outcome.

13 of 83 match

Instant Swaps, ranked by Safety grade

No-KYC crypto swap services: KYC level, Privacy grade, Safety grade and evidence level
#	Service	KYC	Privacy	Safety	Evidence	Accepts	Incidents
01	GhostSwap Tor onion address Accepts Monero No account needed Open source Swap front-end routing orders through third-party processing partners	Never KYC 0	10.0	8.4	Docs reviewed	BTCETHXMR +3	0
02	Swap Market Tor onion address No account needed Never holds your funds Open source Open-source front end for atomic swaps between Bitcoin, Lightning, Liquid and Rootstock	Never KYC 0	9.3	7.3	Docs reviewed	BTCL-BTCRBTC	0
03	eigenwallet Accepts Monero No account needed Never holds your funds Open source Desktop wallet for peer-to-peer BTC-to-XMR atomic swaps, formerly UnstoppableSwap	Never KYC 0	8.9	7.0	Docs reviewed	BTCXMR	0
04	Bitania Accepts Monero No account needed Instant crypto swap paying out from its own liquidity, with PGP-signed swap receipts and a SimpleX bot	Never KYC 0	8.5	6.4	Docs reviewed	BTCLTCXMR +6	0
05	THORChain No account needed Never holds your funds Open source Cross-chain DEX protocol for native asset swaps, with an official swap interface	Never KYC 0	8.5	5.9	Docs reviewed	BTCETHLTC +5	1
06	0trace Tor onion address Accepts Monero No account needed Account-free private swap service with its own liquidity, Tor mirror and PGP-signed receipts	Never KYC 0	8.9	4.9	Docs reviewed	BTCXMRUSDT +8	0
07	Mistex Tor onion address Accepts Monero No account needed Account-free private swap service with a Tor mirror, no-logs policy and optional Monero sign-in	Never KYC 0	8.9	4.9	Docs reviewed	BTCXMRETH +3	0
08	Pablo Cash Tor onion address Accepts Monero No account needed Account-free swap service that works without JavaScript and pays out from a separate pool	Never KYC 0	8.9	4.3	Docs reviewed	BTCXMRETH +8	0
09	SWAP.MY Tor onion address No account needed Instant crypto swap and Telegram bot that also sells prepaid virtual cards	Never KYC 0	8.3	4.3	Docs reviewed	BTCETHSOL +2	0
10	xchg Tor onion address Accepts Monero No account needed Accountless swap with plain-language terms, a no-JS version and an onion site	Never KYC 0	7.9	4.0	Docs reviewed	USDTXMRXRP +1	0
11	PegasusSwap Accepts Monero No account needed Instant crypto swap with fixed and floating rates and no account	Never KYC 0	7.2	4.0	Docs reviewed	BTCXMRETH +5	0
12	FuguSwap No account needed Instant swap whose terms rule out KYC entirely; flagged orders are auto-refunded after an hour	Never KYC 0	7.0	4.0	Docs reviewed	BTCUSDT	0
13	xmr2cex Tor onion address Accepts Monero No account needed One-way Monero off-ramp that pays out coins sourced from centralised exchanges	Never KYC 0	8.4	3.7	Docs reviewed	XMRBTCETH +7	0

Live swap rates Monero exchanges Own liquidity Refund without ID Onion address

Check the rules where you live

Whether a provider may serve customers in your country depends on local licensing rules. A listing describes a service; it is not an invitation to use it and not financial advice.

Hold risk

Where the liquidity comes from, and what the terms allow

Most held swaps trace back to the same chain of events: the order is passed to a partner exchange, the partner screens the deposit, and a flag turns into a request for documents. These columns are the facts that decide it. "Not stated" means the service's own pages do not say, which is different from no.

Instant Swaps: liquidity source, deposit screening, ID policy, refund terms, onion address, held-funds reports and Safety grade
Service	Liquidity	Screening	ID	Refund, no ID	Onion	Safety
GhostSwap	Own reserves	Not stated	Never KYC 0	In the terms	Yes	8.4
Swap Market	On-chain protocol	Not stated	Never KYC 0	Not stated	Yes	7.3
eigenwallet	On-chain protocol	Not stated	Never KYC 0	Not stated	—	7.0
Bitania	Own reserves	Not stated	Never KYC 0	In the terms	—	6.4
THORChain	On-chain protocol	Not stated	Never KYC 0	Not stated	—	5.9
0trace	Own reserves	Not stated	Never KYC 0	Not stated	Yes	4.9
Mistex	Own reserves	Not stated	Never KYC 0	Not stated	Yes	4.9
Pablo Cash	Not stated	Not stated	Never KYC 0	Not stated	Yes	4.3
SWAP.MY	Not stated	Not stated	Never KYC 0	Not stated	Yes	4.3
xchg	Partner exchanges	Yes	Never KYC 0	In the terms	Yes	4.0
PegasusSwap	Not stated	Yes	Never KYC 0	Not stated	—	4.0
FuguSwap	Partner exchanges	Yes	Never KYC 0	In the terms	—	4.0
xmr2cex	Partner exchanges	Not stated	Never KYC 0	Not stated	Yes	3.7

Trade Spend Infrastructure Identity 13 services. Hover or tap a point.

Criteria

What we check for every swap service

Own reserves versus third-party liquidity
What the terms say about AML screening, holds and refunds
Whether a refund is possible without identity documents
Documented held-funds cases: amount, days held, outcome

Full methodology

On record

Recent incidents among instant swaps

View all

1 Oct 2026

high

Shutdown LetsExchange

Official notice: exchange operations ceased on 1 October 2026

The LetsExchange website displays a notice stating that the service ceased its exchange operations on 1 October 2026 and that customer support remains available until 30 November 2026. The notice read during this review did not give a reason for the closure. Users with unresolved orders therefore have until the end of November 2026 to contact support. No reports of unpaid swaps tied to the closure were reviewed.

Service closed Source: letsexchange.io ↗

17 Sep 2026

high

Funds held Lizex

Reported hold of 18,470 USDC and $30,000 USDT after AML flags

The directory kycnot.me reports that Lizex held 18,470 USDC from 17 September 2026 after an AML flag and has held $30,000 in USDT since June 2026, about $48,000 in total. According to that account, the swap service attributed the hold to its liquidity partner, which told the user that the wallet in question was not its own. The directory flagged the listing as a scam and described the cases as ongoing.

Unresolved $48K Source: kycnot.me ↗

1 Sep 2026

medium

Funds held ChangeHero

Reported withheld funds; one $94,000 case released after identity verification

The public event log of the directory kycnot.me recorded on 1 September 2026 several reports of ChangeHero withholding funds from swaps. In one case involving about $94,000, the user reportedly had to complete identity verification before the funds were released. The official site could not be read during this review, so the clause relied on by the service was not confirmed. Other reported cases were not described in enough detail to establish their outcome.

Resolved only after ID $94K Source: kycnot.me ↗

2 Jul 2026

low

Policy change Swapuz

Reported undisclosed fee on transfers classed as high-risk

The public event log of the directory kycnot.me recorded on 2 July 2026 a user report that Swapuz had charged an undisclosed fee on a transfer it classed as high-risk. According to that log, the aggregator OrangeFren intervened and negotiated a refund for the user. Swapuz publishes an AML/KYC policy alongside its terms of use. The size of the fee and the criteria for the high-risk classification were not stated.

Resolved, user paid out Source: kycnot.me ↗

Closed

Services that no longer operate

eXch
Announced closure for 1 May 2025; German authorities seized its servers and about EUR 34 million on 30 April 2025.

Alternatives →
LetsExchange
The official site states that exchange operations ceased on 1 October 2026, with support available until 30 November 2026.

Alternatives →

Questions

Instant Swaps: common questions

Related guides

Why do swap services freeze funds?

Almost always because an automated blockchain-analytics check, run by the service or by its upstream liquidity provider, scored the deposit as high risk. The service then holds the coins and asks for identity or source-of-funds documents.

How do I reduce the risk of a held swap?

Prefer services with their own liquidity and terms that promise a refund to the sending address without documents. Start with a small amount, and split large swaps. Check the incident history on the listing before sending.

What is a no-KYC crypto swap?

A service that converts one cryptocurrency into another with no account and no identity upload. You give a receiving address, send your coins to a deposit address and get the other coin paid out, usually within half an hour.

Can a no-KYC swap still ask for ID?

Many can. A homepage that says "no KYC" does not override terms that allow the service, or the exchange it sources liquidity from, to hold a flagged deposit and request documents. The KYC level on each listing is taken from the terms, and the table on this page shows which services screen deposits.

Which swap services use their own liquidity?

The ones marked "Own reserves" in the table. They fill orders from coins they hold, so no upstream exchange screens your deposit. Services that route through on-chain protocols are marked separately: there, settlement is done by the protocol and not by a company holding your coins.

What is the difference between an instant swap and a cross-chain DEX?

An instant swap is a company that receives your coins and sends you others. A cross-chain decentralised exchange settles the trade through a protocol run by many validators, so no single operator holds the funds, though the website you use to reach it can still block addresses or regions.

Is a swap aggregator safer than a single swap service?

An aggregator shows more rates and sometimes adds its own guarantee, but your coins still go to the underlying service. Read the guarantee terms: most exclude holds that the provider’s own rules allow.

Related categories

No-KYC Exchanges Swap Aggregators P2P Exchanges Wallets Compare two services