# BasicSwap review: KYC policy, privacy and safety grades

> 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.

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

## Key facts
- **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
- **Official website:** https://basicswapdex.com

## What it 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 the terms say about ID
Swaps are atomic and peer to peer in self-run software; there is no operator or account that could collect ID.

## Features and warnings
- **Identity:** ID never required: yes; No account needed: yes; No email needed: yes; No phone number: yes
- **Payment:** Accepts Monero: yes; 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; Refund without ID: not stated; Escrow it cannot spend alone: not stated; Open source: yes; 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

## Incidents on record
- 14 Jul 2026: Advisory: refund race condition in adaptor-signature swaps; 0.66 BTC reported lost (outcome: funds lost). Source: https://kycnot.me/events

## 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.

## Sources
- https://basicswapdex.com
- https://github.com/basicswap/basicswap
- https://kycnot.me/events

How grades are calculated: https://nokycscore.com/methodology