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BisqA peer-to-peer exchange desktop application that routes everything over Tor with no company, no server and no account. Trades settle into a 2-of-2 multisig escrow. The only genuinely trustless fiat on-ramp on this list, at the cost of a real learning curve and thin order books.
1081010938.8 2 -
TrocadorA rate aggregator rather than an exchange. Queries a few dozen swap providers, ranks them by what you actually receive, and flags each one's KYC risk so you can filter to providers that have never frozen a swap. It is the routing engine behind Cake Wallet and Monerujo.
98899108.8 8 -
RoboSatsPeer-to-peer Bitcoin over Lightning, with identity reduced to a generated robot avatar and a token you keep. Escrow is a Lightning hold invoice. Bitcoin only, fiat in and out, no account and no email.
1010109718.3 5 -
OrangeFrenA directory rather than an exchange: it queries instant swappers, atomic swap tools, P2P markets and OTC desks and ranks them by output, and it never touches the coins. It goes further than most on disclosure, with per-provider filters for Never-KYC, no-JavaScript, free AML check, no tainted-coin surcharge and a kycnot.me grade of 7 or higher. For a subset of listed exchanges it backs an OrangeFren Guarantee that refunds you out of the exchange's money if they break their own policy, and it explicitly excludes providers carrying its yellow KYC/source-of-funds warning from that guarantee. Its intercambio.app front end is the same service behind a Tor and no-JavaScript interface, not a separate operator.
9899788.3 4 -
HavenoA Bisq-style peer-to-peer exchange rebuilt around Monero, using XMR multisig for escrow rather than Bitcoin. Runs as independent network instances rather than one central network. Maximum privacy, minimum convenience.
1081010628.1 2 -
BoltzA non-custodial bridge between Bitcoin layers rather than a general exchange. Swaps run as HTLC submarine swaps between Lightning, on-chain Bitcoin, Liquid, Rootstock and Ark, extended in 2026 to USDT and USDC, so funds are locked in a hash-timelocked contract that either completes or refunds instead of sitting in an operator's wallet. Fees are published live through a public API at 0.1% on most pairs, and there is no account or sign-up at any stage.
10869837.6 10 -
JupiterThe dominant Solana DEX aggregator, routing across every venue on the chain. Effectively free transaction costs make it the cheapest place to do small swaps anywhere, provided you only need Solana assets.
1010310847.6 9 -
UniswapThe reference on-chain DEX. No account, no custodian, no KYC at the protocol level. Same-chain only, EVM ecosystem, and every swap is permanently public on-chain, which is a privacy trade-off people routinely underestimate.
107310967.6 7 -
CoW SwapIntent-based DEX aggregator that batches orders and has solvers compete to fill them, which structurally protects against sandwich attacks. Usually the best net execution on EVM chains, though settlement is not instant.
109310857.5 8 -
BasicSwap DEXSelf-hosted software from the Particl project that runs cross-chain atomic swaps across more pairs than any other working implementation, including trustless BTC to XMR via adaptor signatures. You run a local instance with a browser UI on localhost and either full nodes or Electrum light clients for the coins you want to trade. Its own release notes for July 2026 document fixes to the adaptor-signature refund path, an area where a race condition was reported to have cost users funds, so check you are on a current version before trading.
109810437.5 6 -
1inchMature DEX aggregator across EVM chains with a gasless Fusion mode. Comparable to CoW Swap in what it does; pick between them by comparing the actual quote on your pair.
108310867.5 6 -
eigenwallet (formerly UnstoppableSwap)Desktop software that performs true BTC to XMR atomic swaps using the COMIT adaptor-signature protocol, forked from comit-network/xmr-btc-swap and renamed from UnstoppableSwap in 2025. You run the app, pick a maker from a public list, and the swap either completes or refunds; no operator ever holds both sides. Swaps only run in one direction for takers, Bitcoin in and Monero out, so it cannot replace a general-purpose swapper. Development is unusually active, with release 4.13.2 in July 2026 and commits to eigenwallet/core the same month.
106910617.5 6 -
PancakeSwapThe largest AMM on BNB Chain, now deployed across roughly ten chains including Ethereum, Base, Arbitrum, Solana and Aptos. Swaps settle from your own wallet against pool contracts, so nothing is custodied, but the interface geoblocks ten sanctioned jurisdictions and every trade is a permanent public transaction tied to your address. Fee depends entirely on which pool version and tier the router routes through, from 0.01% up to 1%.
98310797.4 9 -
Curve FinanceAn AMM built specifically for assets that should trade near a fixed ratio, so stablecoin-to-stablecoin and stETH-to-ETH swaps cost 0.01%-0.04% with very little slippage at size. Nothing is custodied and there is no account. The record includes a serious incident: on 30 July 2023 a reentrancy-lock failure in Vyper compiler versions 0.2.15, 0.2.16 and 0.3.0 let attackers drain several pools, and net losses landed near $52M after whitehats and MEV operators returned funds.
99410677.4 9 -
RaydiumSolana's largest native AMM and the venue most memecoin liquidity graduates into, which is why aggregators route a large share of Solana flow through it. Swaps are non-custodial program calls from your wallet. In December 2022 an attacker used a trojan to compromise the pool owner private key on Raydium's own server and drained roughly $4.4M from eight constant-product pools by calling withdrawPnl and tampering with fee parameters, which was an operational key failure rather than a contract bug.
97410687.2 9 -
Bisq 2 (Bisq Easy)A separate application from Bisq 1, not an upgrade to it, released as v2.0.0 on 16 March 2024 and shipping the Bisq Easy protocol. The escrow model is the whole difference: Bisq 1 locks both sides' bitcoin in a 2-of-2 multisig with security deposits, while Bisq Easy has no escrow and no deposit at all. The buyer sends fiat, the seller then sends bitcoin directly, and the only thing protecting the buyer is that the seller burned BSQ to build a reputation that is destroyed if they cheat. A mediator can talk to both sides but cannot move anyone's coins.
10789517.1 1 -
Aerodrome FinanceThe dominant AMM on Base, built on the Velodrome ve(3,3) design where veAERO lockers vote weekly on which pools receive emissions. For a plain swapper the relevant facts are that it is non-custodial, has no account, and that pool fees are set individually by a governance role up to a 3% ceiling rather than by fixed tiers. Launched August 2023, so it has a shorter record than Curve or Balancer, which is a function of age and not an accusation.
97410757.1 8 -
KyberSwapAn on-chain routing aggregator that splits a trade across hundreds of liquidity sources, with a published fee schedule that charges nothing on ordinary swaps. The caution flag is for the separate KyberSwap Elastic product: on 22 November 2023 a precision error in its concentrated-liquidity math was exploited for about $48.8 million of liquidity provider funds, after which Kyber Network cut its workforce in half and ran a treasury grant program to partially compensate victims. The aggregator itself was not the vulnerable component and traders using it were not drained, but the same team and treasury sit behind both.
99310587.0 9 -
Hodl HodlPeer-to-peer Bitcoin marketplace using 2-of-3 multisig escrow, so the platform can arbitrate a dispute but never custodies funds. Requires an account (email only) but has never required identity verification.
8679816.9 4 -
SwapzoneA rate comparison layer over roughly eighteen instant swap providers, with no account and no deposit held by the aggregator itself. It ships each partner's KYC and refund policy as readable text next to the offer, which is unusual: the entries for ChangeNOW, FixedFloat, SimpleSwap, Changelly, Exolix and others spell out that these providers run risk scoring and can demand ID, a selfie and proof of address ownership on a flagged transaction. That disclosure is the reason to use it over a provider's own site, because the freeze risk sits entirely with the partner you pick, not with Swapzone.
7848796.9 6 -
THORChainA cross-chain liquidity network that swaps native assets between chains without wrapping and without a custodian. Genuinely non-custodial native BTC to ETH is rare, and this is the main way to get it. Has suffered multiple exploits historically.
10668566.9 8 -
OsmosisAn application-specific Cosmos SDK chain whose entire purpose is being a DEX, which makes it the main place to trade IBC assets across the fifty-plus chains it connects to, plus bridged Ethereum, Solana and Bitcoin representations. Custody is your own Cosmos keypair throughout. In June 2022 a bug in JoinPoolNoSwap let liquidity providers withdraw 50% more than they deposited, roughly $5M was drained, the chain was halted for about two days and the Osmosis Foundation covered the shortfall in kind.
9749676.9 9 -
VeloraThe DEX aggregator formerly known as ParaSwap; the rename to Velora was announced on 3 April 2025 alongside an intent-based Delta v2.5 engine, and the PSP governance token was replaced by VLR. It aggregates more than 160 protocols plus quotes from market makers it describes as KYC-validated, though that verification applies to the market makers, not to you. The rebrand followed a contentious DAO vote about returning fees earned on funds traced to the Bybit hack, which is the one piece of governance history worth knowing before relying on it.
97310676.9 9 -
MatchaThe consumer front end for 0x's routing infrastructure, requiring a wallet connection and nothing else. Its marketing claims zero-fee swaps across seventeen networks, but its own help centre documents a 0.25% taker fee on most pairs and up to 0.4% on non-stablecoin cross-chain swaps, so treat the headline as applying to stablecoin pairs only. It also keeps positive slippage rather than returning it, which is the difference that matters when comparing against a router that refunds surplus.
95310786.9 6 -
GMXA perpetuals and spot venue where trades execute against pooled liquidity at an oracle price rather than against an order book, so there is no slippage from a book, only an explicit price impact charge. Positions and collateral are held by contracts, never by an operator. On 9 July 2025 a reentrancy-style flaw in V1's executeDecreaseOrder and GLP pricing let an attacker take about $42M from the Arbitrum GLP pool; the attacker accepted a whitehat deal, kept roughly $5M and returned the rest, and V1 was wound down.
98310646.7 9 -
BalancerA generalised AMM whose pools can hold up to eight assets at arbitrary weights, used heavily for liquid staking tokens and yield-bearing stable pools. Marked caution for a serious and recent incident: on 3 November 2025 an attacker exploited precision loss in the invariant calculation of Balancer v2 Composable Stable Pools v5 to manipulate BPT pricing, taking an estimated $95M-$128M across Balancer and its forks. v3 and other v2 pool types used a different code path and were not affected.
98410466.7 9 -
dYdXA perpetuals exchange that migrated from a StarkWare rollup to its own Cosmos SDK chain in late 2023, where validators run the order book off-chain in memory and commit fills on-chain. Keys stay yours and there is no account signup. In November 2023 an apparent targeted manipulation of the YFI market on the older v3 deployment forced roughly $9M out of the v3 insurance fund to cover liquidation shortfalls; no customer funds were lost and about $13.5M remained in that fund.
8938756.7 8 -
ShapeShiftNow a wallet-connect, non-custodial aggregator over DEXs and cross-chain protocols, governed by FOX token holders rather than a company. The history matters more than the current product page: after a 2018 Wall Street Journal report alleging it had processed roughly $9 million from suspected criminals, it imposed mandatory KYC on all users and delisted Monero and Zcash, and by its founder's own account lost the large majority of its userbase. It dissolved the US corporation into a DAO in 2021, dropped custody and KYC, and open-sourced the front end. The SEC settled unregistered-dealer charges against the former corporate entity in March 2024.
8639696.6 5 -
Rango ExchangeA cross-chain router that aggregates roughly 147 DEXs and aggregators and 32 bridges across more than eighty chains, and is embedded inside MetaMask, Trust Wallet, Binance Wallet and Exodus rather than used mainly through its own site. There is no account and no verification, and settlement is on-chain, but unlike KyberSwap or Jumper it does charge a fee of its own: a 0.15% baseline that integrating apps can stack further fees on. Where the fee lands, source wallet, output amount or destination, varies by route, so read the quote breakdown rather than assuming.
8639696.6 8 -
Jumper ExchangeThe consumer front end for LI.FI's cross-chain routing layer, covering more than fifty chains across EVM, Solana, Bitcoin and SUI with no account and no platform fee. The reason for caution is the contract layer rather than the interface: on 16 July 2024 a newly added LI.FI facet was exploited for roughly $11.6 million, draining 153 wallets that had granted infinite token approvals, and Jumper users were told to revoke permissions. LI.FI had suffered a similar approval-related exploit in March 2022, which is why the incident was widely written up as the same mistake twice.
8938496.5 10 -
ChangeNOWOne of the largest registration-free swappers by volume and asset count. Reliable for ordinary swaps, but it runs an AML screening layer that can escalate to identity verification, and the spread is not itemised.
57558106.4 6 -
GodexNo registration, no KYC and explicitly no upper limit on swap size, which makes it one of the few options for large no-KYC transfers. Pays for that with a wider spread than the cheapest swappers.
8555796.4 6 -
SwapuzRegistration-free swapper with an unusually large asset list and both fixed and floating rates. Decent Monero support and no standing KYC requirement, but a shorter history than the established names.
8655696.4 5 -
FixedFloat (ff.io)One of the oldest and highest-volume instant swappers, with Bitcoin Lightning support that makes BTC to XMR routes unusually fast. Its reputation is split: excellent rates and uptime, but a well-documented pattern of AML holds on larger transfers, and it lost roughly $26M to a hot wallet breach in February 2024. The service moved from fixedfloat.com to ff.io, and lookalike domains trading on the old name exist.
6955686.3 6 -
HyperliquidA perpetuals exchange running as its own L1 with a fully on-chain central limit order book, which gives CEX-like fills at 0.045% base taker while you keep your own keys. Marked caution for a documented governance intervention: on 26 March 2025 an attacker manipulated JELLY spot markets to distort the oracle and force the HLP backstop vault into around $12M of unrealised loss, and the validator set voted within about two minutes to override the JELLY oracle price, force-settle all positions at $0.0095 and delist the market.
8927666.2 10 -
InstaSwapA cross-chain swap front end operated by INS CORE LABS INC in Panama, live on 62 chains with walletless swaps and no signup. Its privacy policy is unusually explicit that it does not collect government-issued identification documents, which is the strongest no-KYC evidence any service in this batch offers. It does log IP addresses, keeps transaction records for five years "in line with common anti-money-laundering practice", and screens transactions against sanctions lists, so privacy and identity are separate questions here.
8555696.2 6 -
WizardSwapA small privacy-coin swapper covering Monero, Dash, Firo, PIVX, Particl, Zano and the majors, with an onion service and a front end that states it needs no JavaScript. The fee is published as a flat 2.2%, which is high, and the coin list is short. There is no terms of service or AML policy anywhere on the site, so the no-KYC claim rests on the absence of any verification path rather than on a document promising one will never appear.
9395626.2 8 -
xChange.meRunning accountless since 2017 and operated by Pacific Ventures LTD in Majuro, Marshall Islands. Its onion mirror and clearnet domains are listed in a PGP-signed mirrors.txt on its own site, which is the right way to publish them and better than most competitors manage. The privacy policy says no personal data is required at any point, but the homepage warns that any asset entering the exchange may be reviewed if its compliance framework deems the transaction suspicious.
8385726.0 8 -
AlfacashLong-running swapper that stands out for actually itemising its fee instead of hiding it in the spread. Smaller asset list, and its Estonian registration means it operates under an AML regime that can trigger verification.
5755866.0 5 -
Maya ProtocolA THORChain-derived cross-chain DEX where every pool pairs an external asset against its native CACAO at equal value, letting you swap native Bitcoin for native Dash or Zcash with no wrapping and no account. Coverage is deliberately narrow: Bitcoin, Ethereum, Arbitrum, THORChain, Dash, Zcash and Radix, which is roughly ten tradeable assets. Live since 2023, so the independent operating record is short by construction rather than because of any known incident.
9648536.0 9 -
StealthEXLong-running registration-free swapper with very wide coverage. Middle of the pack on every axis: no standout advantage, no standout failure mode, occasional AML holds.
5655796.0 6 -
NanswapStarted as a Nano and Banano swap venue and grew into a general instant exchanger with no registration and no email. A quote pulled from its public API on 31 July 2026 priced BTC to XMR about 1.3% under mid, which is competitive for this sector. Its terms are the standard risk-based text: an automated system checks every transaction, and Nanswap can freeze a swap "for any period of time necessary" to run an AML/KYC procedure that can include a scan of your ID.
5855675.9 6 -
0traceA no-account instant swapper that publishes a Tor mirror in its own FAQ and states plainly that it will never ask for KYC or AML documents. It signs a guarantee document for each order before you deposit and a receipt after payout, verifiable client side at 0trace.io/verify, which is the one feature that distinguishes it from a dozen similar front ends. The domain was registered in March 2026 and OrangeFren first listed it in July 2026, so there is essentially no track record yet. Its About page claims settlement from its own liquidity, but OrangeFren's listing data classifies it as mixed liquidity, meaning at least some orders are routed onward.
8885155.9 5 -
SideShift.aiDirect-to-wallet swapping with no signup, operated by Paradigm Ltd in Basseterre, St Kitts. The public API lists 196 coins across 47 networks. The catch is written into the terms: every transaction goes through an automated risk system, and the published risk-management policy says a flagged deposit is paused for human review, the deposit is refunded only after a holding period, and serious flags require the user to complete verification before that refund is released.
5655785.8 7 -
ETZ SwapA small instant swapper whose onion address is embedded in every clearnet page and which offers an explicit no-JavaScript version rather than silently breaking. The domain dates to February 2024 and OrangeFren has listed it since October 2025 with a never-KYC grade, which is a longer record than most of the new privacy-branded swappers but still short. Its listing data also flags rate discrimination, so coins with a poor AML score can be quoted worse than clean ones.
8495345.8 2 -
RetoSwapThe only Haveno fork that has ever carried real trading volume, renamed from Haveno-reto in November 2024, with Monero as the base pair and 2-of-3 multisig escrow instead of atomic swaps. Two exploits of the underlying Haveno trade protocol hit it in 2026: around 7,000 XMR, roughly 2.7 million dollars, was stolen from mid-May, and a second active exploitation on 17 June 2026 caused trading to be suspended again. Do not open a trade without first confirming from the project's own channels that trading has resumed and which client version is required.
10595125.7 2 -
Peach BitcoinA mobile-first bitcoin-only P2P marketplace run by Peach Sarl in Neuchatel, Switzerland. Trades settle out of a 2-of-2 multisig between the seller and Peach, so Peach cannot move coins alone but can refuse to co-sign, and in a dispute Peach staff arbitrate by demanding proof of payment and then signing for one side. Swiss rules let it clear up to CHF 1,000 per day and CHF 100,000 per year per user with no identity documents; past that, verification applies.
7468615.7 5 -
SwapGateNewer swapper that accepts Monero and Bitcoin without an account and has accumulated consistently positive user reports for smooth settlement, though it reserves the right to request verification during risk checks.
6655585.6 5 -
LetsExchangeAggregating swapper with one of the largest asset lists in the market. Rate quality is inconsistent across pairs because it routes to third-party liquidity, and the same AML caveats apply as elsewhere.
55456105.5 6 -
ExolixAccount-free swapper with solid asset coverage and a clean fixed-rate flow, undermined by a markup that is high relative to the field and a risk-based verification layer that can freeze large transfers.
5355785.4 6 -
HollyMollyA small instant swapper built deliberately without client-side scripting: the front page advertises no scripts and no fingerprinting, and OrangeFren's listing data independently flags it as one of the very few listed services that works with JavaScript disabled. Its onion address appears in the footer of every page on the clearnet site. The domain was registered in February 2026 and it was first listed in July 2026, so there is no history to judge it on, and no fee is published anywhere.
8495145.4 4 -
KrakenThe most credible large custodial exchange on security and transparency: proof of reserves and a long incident-free record. Full KYC is mandatory and non-negotiable, so it is the opposite trade-off from everything above.
09241095.2 4 -
Flyp.meAn accountless exchanger launched in 2017 by the HolyTransaction team, marketed on no registration, no email and no third-party analytics. The terms tell a more qualified story than the front page: if a swap is flagged by internal controls the operator "will require additional proof of identification" and can decline the request until it is provided. The contracting entity in the terms is Medealink SAS in Montevideo, Uruguay, which is not the Luxembourg HolyTransaction brand the marketing points at.
5565535.0 5 -
LocalCoinSwapA long-running P2P marketplace operated by TechHouse Ltd in Saint Kitts and Nevis that moved its trades to on-chain escrow: a multisig script for bitcoin and a smart contract on the other chains, with LocalCoinSwap holding only an arbitrator key rather than the coins. Signing up needs a username and email but no identity documents. The catch is that the terms let it demand KYC and AML documents at sole discretion, and because it is the arbitrator key it can withhold a signature until you comply; Trustpilot carries a recurring pattern of users reporting exactly that at withdrawal or in a dispute.
5638524.9 5 -
ChangellyOne of the oldest instant swap platforms and among the most widely integrated into wallets. Also one of the most complained-about for AML holds requiring full identity documents, including source-of-funds requests.
3634694.8 5 -
MEXCOne of the few large custodial exchanges that still permits a meaningful withdrawal allowance on an unverified account. That makes it a common no-KYC route in practice, but it is custodial, has a mixed record on freezing accounts, and the allowance has been narrowed repeatedly.
29334104.6 4 -
SimpleSwapVery wide coverage and a clean interface, but one of the worse reputations in the privacy community for unexpected verification demands on larger swaps and slow resolution when funds are held. Fine for small amounts, risky above that.
35444104.6 6 -
BinanceThe largest exchange by volume with the lowest headline spot fees, offset by a long history of regulatory action including a $4.3B US settlement, and mandatory verification everywhere it operates.
010136104.3 4 -
BitstampOne of the oldest continuously operating exchanges, now owned by Robinhood. Conservative asset listing and a long clean record, with higher entry-tier fees and full EU-regime verification.
0814954.3 3 -
GhostSwapHeavily marketed as a top no-KYC option, including through paid placement in 'best of' listicles. Independent review sites rate it poorly: the recurring pattern is that small test swaps clear fine while larger ones trigger sudden verification demands and unresponsive support.
3543394.1 4 -
Houdini SwapMarkets itself as private cross-chain swapping, routing each private trade through two partner exchanges and an intermediate coin to break the on-chain link between sender and receiver. Its own compliance documentation undercuts the privacy framing in specific ways worth reading before use: it proactively blocks access from the Tor network, geo-blocks sanctioned jurisdictions, caps swaps at $100,000, collects IP addresses to meet partner compliance requirements, and requires every routing partner to run Chainalysis screening and cooperate with law enforcement. Public Trustpilot complaints in July 2026 describe a five-figure swap frozen by Houdini and its partners with full source-of-funds documentation demanded.
3425494.1 6 -
CoinbaseThe largest US exchange and a public company, which means maximum regulatory compliance and minimum privacy. Easy fiat access and strong custody, at the cost of full identity disclosure and extensive transaction reporting.
0514974.0 5 -
GateOne of the older continuously operating altcoin exchanges, trading since 2013 under the Gate.io name and now presenting itself as Gate on the gate.com domain, a change it rolled out in May 2025 alongside a new logo. The rebrand is cosmetic: gate.io still resolves and the same operator runs both. What is worth knowing is that the corporate side is hard to pin down, and in April 2025 the Cayman Islands Monetary Authority published a notice stating that Gate.io and Gate Global Corp are not and have never been registered, licensed or regulated by it as a virtual asset service provider.
0813693.9 5 -
BitgetA derivatives-first custodial exchange best known for copy trading, with mandatory verification. Its notable incident is not a breach but an intervention: in April 2025 it detected what it called abnormal trading in the VOXEL/USDT perpetual, rolled back the affected accounts, compensated users from its protection fund and said it would pursue legal action over more than $20 million of alleged manipulation profits. Reversing settled trades is a real risk to understand before you trade thin perpetuals here, even when the venue does it to protect other users.
0913593.9 5 -
SwapterClean interface and wide asset support, but a recurring pattern of liquidity failures: delayed swaps, transfers stuck for weeks or months, and funds that never arrive. Listed here as a caution rather than a recommendation.
4542283.8 4 -
GeminiUS exchange positioned around regulatory compliance and insurance. Strong custody, but the Earn programme collapse froze customer funds for a long period, which is the relevant counterparty lesson.
0814663.8 3 -
OKXA large custodial spot and derivatives exchange with full identity verification before you can trade. In February 2025 its operating company, Aux Cayes FinTech Co. Ltd, pleaded guilty in the Southern District of New York to running an unlicensed money transmitting business and paid over $504 million; the DOJ said staff had coached US customers on entering false countries of residence to get past verification. That is a resolved enforcement matter rather than a live threat to deposits, and OKX relaunched a separately run US entity in April 2025 under an external compliance consultant that runs through February 2027.
0913583.8 5 -
Crypto.comTwo products under one brand: a retail app that sells you crypto at a quoted price, and a separate Exchange with a conventional maker/taker book. The Exchange is much cheaper for the same trade, so the app's convenience has a real cost. Its worst incident was in January 2022, when 483 accounts had unauthorised withdrawals totalling about $34 million in ETH, BTC and USD; the company published the numbers, reimbursed affected users, and afterwards imposed a 24-hour hold on withdrawals to newly added addresses.
0813673.8 5 -
SwaponixA large-catalogue instant swapper claiming 1500+ coins with no sign-up requirement, though it also offers optional accounts and a VIP tier. It is on OrangeFren's permanent delist list, published in that site's FAQ, as one of five services removed after accusations of scamming OrangeFren users. The testimonials on its own front page are lifted from Trustpilot and from SwapSpace, an affiliate marketplace, rather than from any independent privacy community source.
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KuCoinFor years the default recommendation whenever someone wanted a large altcoin exchange without identity checks, which stopped being true on 15 July 2023 when verification became mandatory. Existing unverified accounts were not grandfathered: they kept withdrawals and sell-side spot orders but lost the ability to deposit. In January 2025 the company pleaded guilty to operating an unlicensed money transmitting business, paid over $297 million, and agreed to leave the US market for two years, so any stale guide recommending it to a US reader is wrong.
0913493.7 5 -
BitfinexTrading since 2012 and the venue behind the largest exchange theft of the early era: in August 2016 an attacker took 119,754 BTC, worth about $71 million at the time, and Bitfinex spread the loss across all customer balances as a roughly 36% haircut repaid in BFX tokens. Ilya Lichtenstein admitted in August 2023 that he was the original hacker, he and Heather Morgan were sentenced in November 2024, and US prosecutors moved in January 2025 to return roughly 95,000 recovered bitcoin to Bitfinex. Since 17 December 2025 it has charged no maker or taker fees at all.
0913563.6 5 -
BybitLarge derivatives-first exchange. Suffered the single largest exchange breach in history in February 2025, roughly $1.4B attributed to the Lazarus Group, though it covered user losses. Verification is now mandatory.
0813493.5 4 -
HTXThe exchange formerly called Huobi, renamed HTX in September 2023 while Justin Sun was acting as an adviser to it. Days after the rename it lost about 5,000 ETH, roughly $8 million, from a hot wallet to a private key compromise, and in November 2023 it was hit again alongside the HECO chain bridge for roughly $86.6 million on the bridge and around $12.5 million more from HTX hot wallets. Sun said losses were covered in both cases and the September attacker returned the funds for a 250 ETH bounty, so no user shortfall was reported, but three private-key failures in one quarter is the thing to weigh.
0812493.4 5 -
HellexAn instant swapper that markets no sign-ups and 2-5 minute settlement, still online at its own domain as of July 2026. It appears on OrangeFren's permanent delist list, published in that site's FAQ, as one of five services removed following accusations of scamming OrangeFren users. That is a single identifiable source rather than a court record or a press investigation, but OrangeFren refunds users from its own guarantee programme, so it has a direct financial reason to be accurate about who it delists.
6333143.3 1 -
Binance P2PThe order-book-style P2P desk inside the Binance exchange, not a separate venue: it uses your Binance account, your Binance wallet and Binance's compliance stack. When a buyer opens an order the seller's crypto moves out of their Binance spot wallet into a Binance-held escrow balance, and if either side appeals, Binance customer service reads the evidence and directs the coins to one party. Since Binance made Intermediate Verification mandatory on 20 August 2021, government ID and a liveness selfie are required before you can trade at all, so treat this as a KYC'd exchange with a peer-matching front end.
0812432.8 3 -
PoloniexOne of the dominant altcoin exchanges of the 2014 to 2017 era, now a much smaller venue majority-owned by Tron founder Justin Sun. On 10 November 2023 its hot wallets were drained of roughly $126 million across Ethereum, Tron and Bitcoin, including 875 BTC and over 288 million TRX. Sun confirmed the breach and said affected funds would be reimbursed because the exchange held a healthy financial position; we could not find a public confirmation that reimbursement was completed, and the venue publishes little that can be checked from outside.
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BitMEXThe venue that invented the perpetual swap and once held most of the crypto derivatives market is shutting down. On 23 July 2026 it notified users that the exchange closes on 23 September 2026 at 04:00 UTC, following a strategic review by parent HDR Global Trading Limited; new registrations have already stopped and from 26 August 2026 the platform goes reduce-only. If you have a balance there, the only correct action is to withdraw it. This is the same venue that made KYC mandatory for every existing user in late 2020, immediately after the CFTC and DOJ actions, having built its business on not asking.
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NoOnesA Paxful-shaped P2P marketplace founded by Ray Youssef after he left Paxful, governed by Panamanian law and aimed at Africa and South Asia. Coins sit in a NoOnes-hosted wallet and are locked there when a trade opens; the terms claim NoOnes does not custody locked assets because they stay on the blockchain, but NoOnes holds the keys and NoOnes Support alone decides disputes, normally within seven days. Level 1 needs name and date of birth and caps you at $5,000 a day and $20,000 lifetime, and going past that requires government ID through Sumsub.
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Majestic Bank
Shut down on 23 July 2025, announced the following day, with a promise to refund pending orders within 30 days. It was for years the reference no-KYC Monero swapper and is still recommended by guides that have not been updated. The clearnet domain no longer answers, so treat any site now presenting itself as Majestic Bank as a clone.
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eXch
Shut down on 1 May 2025 after German authorities seized its server infrastructure and roughly €34M in assets the day before, following allegations it processed around $35M from the February 2025 Bybit hack. Do not use any site currently presenting itself as eXch.
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Odos
Wound down. The operating company announced in July 2026 that it was ceasing operations: the app went read-only on 27 July 2026 and all company-operated services, including the API, were shut down permanently on 30 July 2026. Both odos.xyz and app.odos.xyz now serve only a shutdown notice, and the team gave no reason for the wind-down. Because the router was non-custodial, no user funds were held at shutdown, and the ODOS token continues to exist on-chain under a DAO that the company said operates separately. Any guide still recommending it as a live aggregator is out of date, and there will be no token migration or airdrop, so treat anyone offering one as a scam.
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Paxful
Wound down. Paxful announced closure on 1 October 2025 and shut the marketplace by 1 November 2025, blaming the lasting damage from its co-founders' conduct and the cost of compliance remediation rather than insolvency. It had already suspended the marketplace once on 4 April 2023 during the Youssef-Schaback dispute before reopening in May 2023. Co-founder and former CTO Artur Schaback pleaded guilty on 8 July 2024 in the Eastern District of California to conspiracy to fail to maintain an effective AML programme; Paxful Holdings Inc. pleaded guilty to three federal conspiracy counts on 9 December 2025 and was sentenced on 11 February 2026 to a $4m criminal penalty, reduced from an agreed $112.5m on ability to pay. Co-founder Ray Youssef was indicted days after the corporate plea.
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LocalMonero
Wound down. For seven years this was the default answer to 'how do I buy monero without an exchange', with escrow held by the site and an arbitration bond system. The operators announced the wind-down on 7 May 2024 citing a combination of internal and external factors, disabled signups and new ads the same day, disabled new trades on 14 May 2024, and set 7 November 2024 as the date the site came down and unclaimed arbitration bonds would be treated as abandoned. The domain still resolves today and serves the same static wind-down notice, with no trading interface behind it.
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AgoraDesk
Wound down on the same schedule as LocalMonero, which it shared operators and a codebase with; AgoraDesk was the bitcoin-and-other-assets front end to the same marketplace. The joint announcement went up on 7 May 2024, signups and new ads stopped immediately, new trades stopped on 14 May 2024, and 7 November 2024 was the stated shutdown date after which unclaimed arbitration bonds could be forfeited. agoradesk.com still resolves and serves the same static wind-down notice. Treating it as a separate surviving venue because LocalMonero is the name people remember is the mistake to avoid.
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LocalBitcoins
Closed. The Finnish P2P bitcoin marketplace announced termination of its trading service on 9 February 2023 and stopped trading on 17 February 2023, with LocalBitcoins Oy citing collapsed volumes rather than any enforcement action. The domain is still live and still owned by the operator, but it now serves only a closure notice and a withdrawal flow. Anyone with a residual balance must complete identity verification with a valid identity document before the remaining bitcoin can be withdrawn, so a guide that still lists this as a no-KYC venue is inverted: the only thing you can do there today is submit ID.
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XMR.to
Defunct since 2021. This was the canonical way to pay a Bitcoin invoice out of a Monero balance without an account, and it is the single most common stale recommendation in older privacy guides. The operators wound it down under money laundering compliance pressure, having first killed their onion service and then cut the per-order maximum from 20 BTC to 0.2 BTC and lower in the run up to closure. The dangerous part is what happened to the name: whois shows xmr.to was created again on 29 November 2023, years after the shutdown, and it now sits on Amazon Route 53 nameservers with no address record at all. The domain is in someone else's hands and can be pointed at a working-looking swap form at any time, so treat any future site there as a stranger, not a revival.
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MorphToken
Not operating. The accountless swapper that let one input be split across several output coins now answers with a static page reading "Service is not available" and an invitation to email support; the live rate matrix for its six assets renders as empty placeholders. The footer copyright reads 2017 to 2021, which is the only date the operator has ever put on the wind-down. There was no announcement, no press coverage and no stated reason, so this is a quiet disappearance rather than a documented closure, and the absence of any exit statement is itself the reason to keep it off a recommendation list.
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Bitzlato
Seized and dissolved. Founder Anatoly Legkodymov was arrested in Miami on 17 January 2023 and Europol took down the platform's French-hosted infrastructure on 23 January 2023, with Europol assessing that roughly 46 percent of the assets it processed, about 1.09 billion dollars, were linked to illicit activity. Legkodymov pleaded guilty on 6 December 2023 to operating an unlicensed money transmitting business, forfeited a claim to 23 million dollars in crypto seized by French authorities, and agreed as a plea term to dissolve the exchange. The apex domain still resolves to Leaseweb address space but serves nothing over HTTPS, which means the name is dormant rather than reclaimed.
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Garantex
Seized on 6 March 2025, when the US Secret Service working with German and Finnish authorities took the web domains and froze around 26 million dollars, mostly Tether, with the issuer's cooperation. Neither garantex.org nor garantex.io resolves today. The reason this entry matters is the successor: Grinex, a Kyrgyzstan-registered platform incorporated in December 2024, months before the takedown, was promoted through Garantex-linked Telegram channels immediately afterwards and inherited the customer base, and OFAC designated Grinex along with Garantex's founder and co-owners on 14 August 2025. Grinex is live. Treating it as a neutral new exchange because the old brand is gone is exactly the mistake this entry exists to prevent.
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Cryptonator
Seized on 1 August 2024 by IRS Criminal Investigation, the DOJ and the FBI together with Germany's BKA and the Frankfurt Attorney General's Office. The custodial wallet and exchange had run for a decade with no identity checks, and US prosecutors say it moved more than 235 million dollars in illicit funds while never registering with FinCEN; founder Roman Pikulev, who also used the surname Boss, was indicted for money laundering and operating an unlicensed money services business. The domain no longer resolves at all, so a stale link to it simply fails rather than landing on a clone, which is the least bad outcome for a dead brand.
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Cryptex
Seized on 26 September 2024, when the US Secret Service's Cyber Investigative Section acting with the Dutch FIOD and Netherlands police took the web domains and infrastructure of Cryptex, PM2BTC and UAPS. OFAC sanctioned Cryptex and Sergey Sergeevich Ivanov the same day under Executive Orders 13694 and 14024, and FinCEN separately named PM2BTC a primary money laundering concern, a designation that cuts it off from US financial institutions. Cryptex was registered in St Vincent and the Grenadines but operated from Russia. Neither cryptex.net nor pm2btc.me resolves today.
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CoreSwap
Named on OrangeFren's permanent delist list as one of five swap services removed after accusations of scamming its users. The domain no longer hosts a swap service at all: as of July 2026 coreswap.io redirects to portalnews.com.co, an unrelated content site, and the registration record shows the name was created afresh on 1 July 2026 through Spaceship, which is what a lapsed and re-registered domain looks like. Any guide still linking coreswap.io is sending readers to a stranger's parked traffic.
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Guardex
One of the five services on OrangeFren's permanent delist list, removed after accusations of scamming users of that directory. The domain no longer serves a swap site: guardex.io redirects to danhdeonline.co, an unrelated site, and the registration was created on 7 April 2026 through a different registrar, consistent with the original name having been dropped and picked up by someone else. Treat any surviving link as hostile.
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VigorSwap
The shortest-lived of the five services on OrangeFren's permanent delist list. The domain was registered in December 2025 and by July 2026 it no longer resolves to a swap service at all: vigorswap.io now redirects to elephanttube.me, an unrelated adult site, and the registration expires at the end of 2026. A swap front end that lasts seven months and ends in scam accusations is the base case for this whole category, not an outlier.
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Ordered by the overall ranking. Sorting needs JavaScript; every page works without it.
Six axes, 0–10, weighted into the total by the fixed table in the method. On-chain DEXs score 10 for KYC and 3 for privacy: permissionless is not private. The agt column rates whether an autonomous agent can complete a swap with no account and no API key; it is reported separately and is not part of the total.