KYC Level A vs B vs C: how to choose the right exchange for your privacy needs

Not all no-KYC exchanges are the same. Some have never requested identity verification in their entire history. Others claim to be no-KYC but have been known to freeze funds and demand documents when transactions reach certain thresholds. The difference matters enormously — and that's why we created a three-tier rating system.

Level A: Fully Anonymous

A Level A service has never requested KYC under any circumstances. No account required. No email. No phone number. You provide a destination wallet address, send your funds, and receive the swap. The platform has no record of who you are.

Level A services also have a clean history of not withholding funds. If something goes wrong — a transaction delay, a failed swap — funds are returned to the sender without any request for identity documents.

These are the services we recommend by default for anyone who values financial privacy.

Level B: Mostly Anonymous

Level B services operate without KYC in most cases, but have been known to request verification in specific situations — typically for large transactions, flagged wallet addresses, or accounts under regulatory scrutiny.

The key distinction from Level A is that Level B platforms have the infrastructure to request and store KYC data. They choose not to use it in routine transactions, but they can and occasionally do.

Funds on Level B platforms are generally returned in the event of a dispute, but there have been documented cases of temporary holds pending verification. Use Level B services with awareness of this risk.

Level C: Risky

Level C services present themselves as no-KYC but have a documented history of requesting identity verification after funds have already been deposited — effectively holding your crypto hostage until you comply.

This is the most dangerous category. Once your funds are on a Level C platform and a KYC request is triggered, you face a difficult choice: submit your documents and lose your privacy, or refuse and potentially lose your funds.

We list Level C services only when they offer unique features unavailable elsewhere. Always approach them with extreme caution.

How to use these ratings

Before using any exchange, check its rating on AnonBay. If a service is not listed, treat it as unverified. Look for the rating badge on the exchange page and read the notes — context matters. A service may be Level A overall but have specific restrictions for certain coin pairs or jurisdictions.

When privacy is the priority, stick to Level A. When you need features that only Level B or C platforms offer, go in with full awareness of the risks and never deposit more than you're willing to potentially lose access to.