# Hyperliquid review: KYC policy, privacy and safety grades

> Hyperliquid is an exchange. Its terms put it at KYC level 1 of 4: no ID mentioned. NoKYC Score grades it 7.5/10 for privacy (strong) and 6.7/10 for safety (fair). In its favour: no account needed, no email needed and no phone number. No incidents are on record.

Source: NoKYC Score, "Hyperliquid review", reviewed 23 Oct 2026, https://nokycscore.com/service/hyperliquid

## Key facts
- **Category:** No-KYC Exchanges
- **KYC level:** 1 of 4: No ID mentioned
- **Grades:** Privacy 7.5/10, Safety 6.7/10
- **Sign-up:** No account needed
- **Custody:** non-custodial
- **Fees:** Perps base tier 0.045% taker / 0.015% maker; spot 0.070% taker / 0.040% maker, lower with 14-day volume
- **Incidents on record:** 0
- **Last reviewed:** 23 Oct 2026
- **Official website:** https://hyperliquid.xyz

## What it is
Hyperliquid is a layer-one blockchain whose core component runs fully on-chain perpetual futures and spot order books; the main web interface is app.hyperliquid.xyz. Users connect a non-custodial EVM wallet (or log in with an email-based wallet) and deposit collateral such as USDC on Arbitrum, BTC, ETH or SOL. The interface terms are with Hyperliquid Corp., governed by the law of England and Wales, and bar Restricted Persons, which include anyone in the United States or Ontario, Canada and sanctioned jurisdictions. The terms say the company has no custody of wallet contents and contain no identity-verification clause. The node software is distributed as a signed binary, while the SDKs are open source.

## What the terms say about ID
Interface terms (last updated 15 June 2026) contain no identity-verification requirement; section 1.4 says you must use a non-custodial wallet and the company has no custody of its contents.

## Features and warnings
- **Identity:** ID never required: not stated; No account needed: yes; No email needed: yes; No phone number: yes
- **Payment:** Accepts Monero: not stated; 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; Own liquidity: not stated; Refund without ID: not stated; Independent audit: yes; Company named: not stated; 5+ years operating: not stated
- **Warnings:** May ask for ID: not in terms; Screens deposits: not in terms; Passes orders to partners: not in terms; Holds your funds: not in terms; Email required: not in terms; Phone number required: not in terms; Nobody accountable: not in terms

## Questions
### Does Hyperliquid require KYC?
Hyperliquid is rated KYC level 1 of 4 on this site: no ID mentioned. Interface terms (last updated 15 June 2026) contain no identity-verification requirement; section 1.4 says you must use a non-custodial wallet and the company has no custody of its contents.

### Is Hyperliquid safe to use?
Hyperliquid has a Safety grade of 6.7 out of 10 and a Privacy grade of 7.5 out of 10. No incidents are on record. Evidence level: documentation reviewed.

### Is Hyperliquid legit?
Hyperliquid is a working exchange. Being real is not the same as being safe: its Safety grade here is 6.7 out of 10, built from custody, liquidity, track record and incidents.

### Is Hyperliquid a scam?
NoKYC Score does not label services as scams; it records documented incidents with their sources and outcomes. No incidents are on record for Hyperliquid.

### Do I need an account or email to use Hyperliquid?
No account needed.

### What fees does Hyperliquid charge?
Perps base tier 0.045% taker / 0.015% maker; spot 0.070% taker / 0.040% maker, lower with 14-day volume. Fees were recorded from Hyperliquid's own pages and can change; check before you send.

### Does Hyperliquid have a Tor onion address?
No official onion address was found on Hyperliquid's own pages.

### Which cryptocurrencies does Hyperliquid support?
Hyperliquid supports BTC, ETH, SOL, USDC, USDT, HYPE.

### Is Hyperliquid custodial?
No. Hyperliquid is non-custodial: the operator does not control user funds.

### Can I use Hyperliquid over Tor?
Hyperliquid does not publish an official onion address.

## Sources
- https://hyperliquid.xyz
- https://app.hyperliquid.xyz/terms
- https://hyperliquid.gitbook.io/hyperliquid-docs
- https://hyperliquid.gitbook.io/hyperliquid-docs/trading/fees
- https://hyperliquid.gitbook.io/hyperliquid-docs/onboarding/how-to-start-trading
- https://hyperliquid.gitbook.io/hyperliquid-docs/audits
- https://github.com/hyperliquid-dex/node

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