Skip to content
NoKYC Score
DirectoryExchangesSwapsBuyRatesIncidentsGuides List a project Sign in

P2P Exchanges Reviewed 22 Oct 2026

BasicSwap review

Self-hosted cross-chain DEX using atomic swaps for Bitcoin, Monero and more

  • No account needed
  • Accepts Monero
  • Never holds your funds
  • Open source
  • No email needed
  • No phone number
ID never required KYC 0 Documentation reviewed
Visit basicswapdex.com Report an incident Watch

Privacy

9.2/ 10

Excellent

Safety

6.4/ 10

Fair

Based on terms and documentation. No test transactions published yet. See the arithmetic

BasicSwap review in short

BasicSwap is a P2P exchange. Its terms put it at KYC level 0 of 4: ID never required. NoKYC Score grades it 9.2/10 for privacy (excellent) and 6.4/10 for safety (fair). In its favour: no account needed, no email needed and no phone number. One incident is on record, the latest from 14 Jul 2026.

Category
P2P Exchanges
KYC level
0 of 4: ID never required
Grades
Privacy 9.2/10, Safety 6.4/10
Sign-up
No account needed
Custody
non-custodial
Jurisdiction
Decentralised / none
Incidents on record
1
Last reviewed
22 Oct 2026
Cite this review

NoKYC Score, "BasicSwap review", reviewed 22 Oct 2026, https://nokycscore.com/service/basicswap

Also available as plain text.

What BasicSwap is

BasicSwap is an open-source decentralised exchange that lets two parties swap coins directly on-chain using atomic swaps. The project site lists Bitcoin, Monero and twelve more coins. Users run the software themselves on desktop or mobile, there is no account and no central operator holds funds, so nobody is in a position to request identification. Liquidity depends on other users posting offers, which can make large or unusual pairs slow to fill.

What BasicSwap offers, and what to watch

7 of 16 privacy and safety features, 0 warnings in its terms.

"Not stated" means its own pages do not say.

Identity

  • ID never required Yes The terms rule identity checks out, or the design makes them impossible.
  • No account needed Yes Usable without creating an account, or the account is only a random number.
  • No email needed Yes An email address is not required to sign up or use it.
  • No phone number Yes A phone number is never required.

Payment

  • Accepts Monero Yes Monero hides sender, receiver and amount, so the payment cannot be traced to you.
  • Accepts Lightning Not stated
  • Accepts cash Not stated

Access

  • Tor onion address Not stated
  • Works without JavaScript Not stated

Trust

  • Never holds your funds Yes The operator never controls user funds, so it cannot freeze them.
  • Refund without ID Not stated
  • Escrow it cannot spend alone Not stated
  • Open source Yes The code that matters is public and can be inspected.
  • Independent audit Not stated
  • Company named Not stated
  • 5+ years operating Not stated

Warnings

  • May ask for ID Not in terms
  • Screens deposits Not in terms
  • Holds your funds Not in terms
  • Email required Not in terms
  • Phone number required Not in terms
  • Closed source Not in terms
  • Nobody accountable Not in terms

Does BasicSwap require KYC?

  1. 0
  2. 1
  3. 2
  4. 3
  5. 4

KYC level 0: ID never required. The terms rule out identity checks, or the design makes them impossible.

Swaps are atomic and peer to peer in self-run software; there is no operator or account that could collect ID.

How the grades add up

Both grades start at 50 points and move by fixed, published amounts. Nothing is adjusted by hand. The total is divided by ten.

Privacy

9.2
  • Starting points 50
  • KYC level 0: ID never required +20
  • No registration +6
  • No email needed +3
  • No phone needed +1
  • Accepts Monero +4
  • Open source +2
  • Non-custodial +3
  • Self-hostable +3
  • Total, clamped to 0–100 92

Safety

6.4
  • Starting points 50
  • Open source +8
  • Non-custodial +12
  • Self-hostable +3
  • Advisory: refund race condition in adaptor-signature swaps; 0.66 BTC reported lost medium · funds lost · 101 days ago -9
  • Total, clamped to 0–100 64

Test ledger

Real transactions run by our editors. A badge without a ledger is an assertion; this is the proof.

No test transactions published yet

The grades above rest on BasicSwap’s terms and documentation. Tests will appear here with the date, route, amount band and result as they are run.

Incidents on record

medium

Other

Advisory: refund race condition in adaptor-signature swaps; 0.66 BTC reported lost

The public event log of the directory kycnot.me recorded that on 14 July 2026 the BasicSwap team published an advisory asking users to halt trading over a race condition in the automatic refund path of adaptor-signature swaps. A counterparty running a modified client could take swap funds before a refund was broadcast. The team reported a total loss of 0.66 BTC, about $42,000, and released version 0.17.2 with a fix. Ordinary completed swaps were not affected.

Funds lost $42K Source: kycnot.me ↗

User reviews

Reviews never change a grade. Reviews with a transaction reference are marked.

No reviews yet.

Write a review

Create an account to write a review. It takes ten seconds and needs no email: you get a random key and a random name. Already have a key? Sign in.

Alternatives to BasicSwap

All alternatives →

Bisq

Open-source desktop P2P exchange for bitcoin with no registration

Privacy 9.3
Safety 8.0
Never KYC 0 Docs reviewed

Haveno

Open-source protocol for non-custodial Monero trading over Tor

Privacy 9.2
Safety 7.3
Never KYC 0 Docs reviewed

Mostro

Open-source P2P bitcoin trading protocol over Nostr and Lightning hold invoices

Privacy 8.9
Safety 7.3
Never KYC 0 Docs reviewed

Peer

P2P fiat on/off-ramp settling through smart-contract escrow and payment-app proofs

Privacy 7.3
Safety 7.0
Not mentioned KYC 1 Docs reviewed

BasicSwap vs BisqBasicSwap vs HavenoBasicSwap vs MostroBasicSwap vs Peer

BasicSwap: common questions

Does BasicSwap require KYC?

BasicSwap is rated KYC level 0 of 4 on this site: ID never required. Swaps are atomic and peer to peer in self-run software; there is no operator or account that could collect ID.

Is BasicSwap safe to use?

BasicSwap has a Safety grade of 6.4 out of 10 and a Privacy grade of 9.2 out of 10. There is 1 incident on record, listed with sources on this page. Evidence level: documentation reviewed.

Is BasicSwap legit?

BasicSwap is a working P2P exchange. Being real is not the same as being safe: its Safety grade here is 6.4 out of 10, built from custody, liquidity, track record and incidents.

Is BasicSwap a scam?

NoKYC Score does not label services as scams; it records documented incidents with their sources and outcomes. BasicSwap has 1 incident on record, 1 not resolved, the latest: "Advisory: refund race condition in adaptor-signature swaps; 0.66 BTC reported lost". Each is listed on this page with its source.

Do I need an account or email to use BasicSwap?

No account needed.

Does BasicSwap have a Tor onion address?

No official onion address was found on BasicSwap's own pages.

Which cryptocurrencies does BasicSwap support?

BasicSwap supports BTC, XMR, LTC, PART, FIRO, DASH.

Is BasicSwap custodial?

No. BasicSwap is non-custodial: the operator does not control user funds.

Can I use BasicSwap over Tor?

BasicSwap does not publish an official onion address.

Listing history

  • Listing added. Facts and KYC level set from the service's own terms and documentation.
  • Incident recorded: Advisory: refund race condition in adaptor-signature swaps; 0.66 BTC reported lost