15 Best Anonymous Crypto Wallets With No KYC in 2025

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Eric Huffman

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Eric Huffman

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Eric Huffman's background includes a decade plus in business management as well as personal finance industry experience in insurance and lending. A strong understanding of consumer finance combined...

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Tsvetomir Koychev

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Tsvetomir Koychev

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Tsvetomir is a Crypto Editor and Writer at Cryptonews, where he produces data-backed and impactful content focused on cryptocurrencies, exchanges, wallets, and blockchain technology.

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Last updated: 

December 5, 2025

According to our analysis, the best anonymous crypto wallet in 2025 is Best Wallet, as it requires no ID verification, supports 1,000+ coins across 60+ networks, and offers robust security and privacy features.

Anonymous wallets are designed to protect your privacy and identity. They prevent intrusive verification and allow you to keep full control of your funds while minimizing the risk of personal data misuse and leaks.

We assessed over 30 no-KYC crypto wallets from a user perspective based on criteria like privacy features, security, ease of use, supported coins, and Web3 and DeFi access. This approach ensures our list of the best crypto wallets with no ID verification is unbiased and reliable.

Best No KYC Crypto Wallets Shortlisted

Overall Best Crypto Wallet

9.7/10

Review

• Non-custodial multi-chain wallet.
• Broad ecosystem of wallet features.
• Portfolio management and market insights within the wallet.

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Popular Open-Source Bitcoin Wallet

9.5/10

• Open-source, client-side, free Bitcoin wallet.
• Seed phrases, private keys, transactions all kept private.
• Connect directly to the blockchain within the app to send and receive Bitcoin instantly.

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Best For Seedless, Hardware-Based Storage

9.2/10

• Multi-part backup system that eliminates the need for a recovery seed
• Splits private key into multiple encrypted shards for enhanced security
• Supports over 3,000 cryptocurrencies

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Safe Wallet with Staking and dApps

8.5/10

• Self-custodial crypto wallet with 1M customer base
• Multi-chain support powered by MPC for added security
• Buy, sell, send, receive and connect to Web3 dApps

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Cold Wallet with Most Tokens Supported

8.6/10

• Supports over 10,000 tokens & NFTs
• Air-gapped security with anti-tamper features
• User-friendly interface

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Best Hardware Wallet for Security

8.2/10

• Securely stores sensitive data with a tamper-proof Secure Element chip
• Leger Live App allows you to buy, sell, swap and stake tokens all in one place
• Custom-built BOLOS operating system ensures app updates are carried out automatically

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Top Anonymous Crypto Wallets: Full Reviews

We’ll now review the best anonymous crypto wallets compared above. We’ll cover everything you need to know about each wallet, such as privacy, security, key features, supported networks, and pricing.

1. Best Wallet – Overall Best Anonymous Crypto Wallet for 2025

Best Wallet is the best anonymous crypto wallet of 2025. You can use it without providing personal details like ID, phone number, or proof of address, as it doesn’t require any form of KYC. The wallet also gives you access to its native decentralized exchange (DEX), called Best DEX, and offers encrypted private key backups for enhanced security.

This multi-chain, non-custodial wallet supports over 1,000 assets across 60+ blockchains, including majors like Bitcoin and Ethereum, and more niche ones like Aave and Toncoin. In August 2025, Best Wallet also added support for native Solana, as it continues to expand its supported networks.

Furthermore, Best Wallet offers a native utility token, $BEST, that provides benefits like lower gas fees, higher staking rewards, and governance privileges. We also loved the presale dashboard for early access to promising crypto presales and the real-time market sentiment analysis based on social media. You also get extra security features such as two-factor authentication and biometrics, giving you an additional level of protection. While the wallet’s browser extension is still in development, it’s highly functional on iOS and Android.

2. Bitamp Bitcoin Wallet – Best Anonymous and Open-Source Bitcoin Wallet

Bitamp Bitcoin Wallet is an open-source wallet that connects to the Bitcoin network directly from your browser. Being open-source means that anyone can check the code and confirm that it works exactly as promised. Additionally, Bitamp is anonymous and never stores your seed phrase, private key, transactions, IP addresses, or browser details. You don’t need an email address or to verify your ID to use the wallet, and you can access it via VPN or TOR.

Once you open your Bitamp Bitcoin Wallet account, you are directly connected to the Bitcoin blockchain. Transactions are instantly broadcast and take around 10 minutes to confirm. There are no country restrictions, meaning anyone globally can access this wallet and start transacting on the Bitcoin blockchain.

This is a non-custodial wallet where you have full control over your assets. Bitamp isn’t an exchange and cannot be hacked or become insolvent. For those who value anonymity above all, Bitamp has its own Onion address: bitampgt5htkfk5ek6bnzzwgr2iuvoeqgy2fofqib2yx7yegnqzgmsid.onion.

3. Zengo – Top Anonymous Wallet With No Seed Phrase Vulnerability

Zengo is a top choice for anonymous crypto wallets in 2025, largely due to its decentralized nature (hence no KYC) and use of Multi-Party Computation (MPC). This technology eliminates the need for seed phrases, splitting your private keys into two parts – one on your device and another on Zengo’s servers. This ensures no single entity controls your private data, significantly enhancing anonymity and security. Additionally, the wallet provides complete self-custody over your assets, ensuring you have full control.

Zengo has never been hacked since its launch in 2018, thanks to its combination of MPC, biometric login, and 3-factor authentication (3FA). It’s designed to be beginner-friendly, and you can buy, sell, and store over 380 assets, including Bitcoin and NFTs, all from the app.

There’s also a Pro version, starting at $19.99/month, that includes advanced features like generational inheritance and a Web3 firewall for enhanced protection. Despite missing support for some major assets like Solana, Zengo remains a highly secure and convenient wallet for Bitcoin users and beyond.

4. Cypherock X1 – Best Anonymous Hardware Wallet for Multi-Wallet Management

If you’re after serious security and don’t want to deal with KYC, Cypherock X1 is a solid choice. The way it handles your private keys is unique: instead of keeping them in one place, Cypherock splits them into five parts and stores each on a different, tamper-proof card. So, you can lose up to three cards, and your funds will still be safe.

You won’t need a seed phrase backup with Cypherock, which makes things easier, and the CySync app lets you manage your crypto, NFTs, and DeFi assets in one place. We also love that it lets you create up to four different wallets, each with a unique private key for easy portfolio management and diversification, as well as maximum security.

The wallet even offers a beneficiary feature, which can securely transfer your funds to a trusted person or family member if something happens to you. A drawback we should note, though, is the relatively steep starting price of $131, which might be steep if you’re on a budget.

5. BitBox02 – Best Private Wallet for Ethereum-Based Tokens

The BitBox02 is another high-quality hardware wallet that allows you to stay anonymous by not requiring KYC verification and offering fully offline key generation. It uses open-source firmware, allowing for public audits to ensure security and privacy. With your private keys stored in a secure chip, the wallet remains protected from online threats.

BitBox02 supports Bitcoin, Ethereum, Litecoin, Cardano, and over 1,500 ERC-20 tokens, making it both versatile and straightforward. It offers DeFi support by allowing you to securely connect to any Ethereum-based dApp. This ERC-20 wallet’s design features a user-friendly interface compatible with both desktop and Android devices.

BitBox’s companion app stands out by supporting the Tor network, which anonymizes all traffic. You can also run and connect a private Bitcoin Umbrel/Raspiblitz node directly within the app’s settings. And while previously lacking iOS support, BitBox recently launched the new Nova Wallet, which is compatible with iPhones and iPads. This makes it a top contender in security and ease of use, competing well with other hardware wallets like Ledger and Trezor.

6. Blockstream Jade – Best Anonymous Crypto Wallet for Bitcoin HODLers

The Blockstream Jade ensures anonymous crypto storage by not requiring KYC verification. It also facilitates offline cold storage, keeping your private keys away from the internet, and is fully open-source, which allows the community to audit its security measures.

Launched in 2021 and priced at $79, this wallet focuses primarily on Bitcoin, offering multi-signature security with Electrum and Shamir Backup for seed recovery. The device’s open-source firmware is another aspect that boosts transparency and trust. Furthermore, the wallet supports the Liquid Network. This is a Bitcoin side-chain that allows Confidential Transactions, which hide amounts and asset types.

Blockstream Jade is compact and budget-friendly compared to pricier competitors like NGRAVE. Despite its small screen and lack of microSD backup, Jade offers excellent value with its robust security features and ease of use. Another key reason we rank it among the best anonymous crypto wallets is that you can buy it with Bitcoin, which adds an extra layer of privacy, plus it’s among the best Bitcoin Lightning Network wallets, ensuring fast and cheap off-chain BTC transactions.

7. Coldcard Mk4 – Best Crypto Wallet Without ID for Encrypted Backups

The Coldcard Mk4 ensures anonymity by being fully air-gapped, which means it never connects to the internet. It achieves this through offline key generation and transaction signing via microSD cards. Since it doesn’t require KYC verification or online access, your identity and keys remain completely private.

Designed exclusively for Bitcoin, the Coldcard Mk4 offers top-notch security with its open-source firmware, allowing community auditing for transparency. However, it mainly impressed us with its encrypted backup functionality, which securely stores your seed phrase on one or more microSD cards. Coldcard generates a unique 12-word passphrase for each backup and uses military-grade AES-256 encryption to secure your wallet. You can then use the passphrase to restore your assets if you lose the device or your main seed phrase.

Moreover, unique features like the Brick PIN mode, which bricks the device after 13 failed PIN attempts, and the time-lock functionality ensure that only you can access and spend your Bitcoin. However, Coldcard’s complex setup and lack of a mobile app may deter beginners. But despite this and its comparatively high price, it remains among our top recommendations for privacy and security-conscious Bitcoin hodlers.

8. Tangem – Best No-KYC Wallet for Beginners

Tangem is a card-based hardware wallet that keeps things refreshingly simple. Entirely offline, Tangem ensures that no personal data is ever at risk. Your private keys are stored securely on the card itself, on an EAL6+ certified chip. What particularly impressed us about Tangem is how easy it is to use – the setup takes less than a minute, and managing your crypto is as simple as tapping the card on your mobile device.

The Tangem app lets you buy, sell, or swap over 16,000 cryptocurrencies to earn passive income, including Bitcoin and Ethereum. Unlike software wallets like Best Wallet, Tangem does away with the hassle of seed phrases. Instead, it provides three backup cards to ensure you never lose access to your funds. Just be careful not to misplace those cards, as they’re the key to your assets.

Tangem is ideal for those who want a straightforward way to manage their crypto without undergoing KYC. While the card-based system might take some time getting used to, it’s worth it for the portability and security it offers. If you’re looking for an anonymous, no-frills solution to store and manage your crypto, Tangem might be exactly what you need.

9. Ellipal – Best Private Wallet for Integrated DeFi and dApp Access

The Ellipal Wallet is one of the best anonymous cold wallets of 2025 due to its fully air-gapped design. It achieves anonymity by eliminating any wired or wireless connections, making it nearly impossible for hackers to access your assets or personal data remotely. All transactions happen via QR code scans, and you’ll be using a microSD card for firmware updates, both of which ensure the wallet remains offline at all times.

This private crypto wallet supports over 10,000 coins and tokens, making it a versatile option for secure, KYC-free storage. It also includes an in-built exchange through its mobile app, allowing you to swap cryptocurrencies in-app. Ellipal offers the Titan 2.0 and Titan Mini, both built from a single metal block with a sealed touchscreen for durability and protection. The provider also recently introduced the X Card Wallet – a card-based cold wallet that allows you to approve transactions by tapping the card on an NFC-enabled smartphone.

Furthermore, at TOKEN2049 Singapore in October, Ellipal announced a new payment system that lets users pay for goods and services with USDC by tapping their wallet or card on a POS device. This happens without bank involvement, making it an excellent option for anonymous crypto payments. We also found its support of 200+ dApps impressive, with easy access to crypto gaming and DeFi services via MetaMask and WalletConnect. However, while the QR-based transaction process enhances security, it may feel slow for frequent users.

10. Trezor – Best No-KYC Crypto Wallet for Open-Source Security

Trezor achieves anonymity by not requiring KYC and deleting your personal data, such as name and address, from its online store 90 days after purchase. Furthermore, the wallet natively supports the Tor network, which anonymizes your internet connection by masking your IP address and location. Contrary to Ledger‘s closed-source approach, Trezor’s open-source firmware allows full transparency, which means you can audit its security measures yourself, adding trust if you’re concerned about privacy.

Trezor provides four models: Model One ($49), Safe 3 ($79), Model T ($149), and Safe 5 ($169), all of which support thousands of coins and tokens. Lacking native staking, NFT management, and a mobile app or Bluetooth connection, Trezor is a simple yet highly reliable anonymous wallet.

The Model T comes with Shamir Backup for enhanced security, and you can access advanced features, like staking and trading, through third-party software wallets. However, in 2024, Trezor discontinued its support for CoinJoin (a transaction mixing tool), which removed a key privacy element from its services. Nevertheless, its simplicity, affordability, and open-source approach make it a reliable choice among no-KYC hardware wallets.

11. Ledger – Best Anonymous Hardware Wallet for Long-Term Storage

Ledger achieves anonymity by keeping your private keys offline and protected with a Secure Element chip that prevents extraction. It also doesn’t require KYC, so you can manage your crypto without revealing your identity. Both these features make it an excellent choice for secure, long-term crypto storage, as they ensure your assets are safe from both online and physical threats.

While Ledger’s hardware offers excellent security, the Ledger Live app routes transaction data through the company’s servers. For maximum privacy, we recommend connecting the hardware device to Sparrow Wallet, which supports the Tor network and lets you run your own private Ethereum and Bitcoin nodes. Ledger offers two entry-level models: the Ledger Nano S Plus ($79) and the Ledger Nano X ($149). If you’re after its top-tier models, you can also pick between Ledger Flex and Ledger Stax, priced at $249 and $399, respectively.

We found Ledger ideal for long-term storage, thanks to its offline protection, 2FA, and secure chip that can last up to 30 years. The device uses a 24-word seed phrase for recovery, with the option for an additional passphrase. Ledger devices also integrate with Monero’s native GUI Wallet, which allows anonymous XMR transactions. Although Ledger’s software isn’t fully open-source, its security features are robust, making it one of the most trusted wallets for serious investors.

12. Margex Wallet – Best Anonymous Wallet for Active Traders

The Margex Wallet is a great choice for those who wish to trade and manage cryptocurrencies within a no-KYC exchange. With a heavy focus on active traders, the platform offers both newer coins, such as Mantle and Story, and established ones like Bitcoin and Ethereum. It supports more than 85 cryptocurrencies and lets you trade with up to 100x leverage. It’s ideal for traders of all skill levels, offering tools such as staking and an all-in-one app that lets you buy, sell, sotre, or withdraw your crypto without switching platforms.

However, Margex stood out during our assessment with its excellent copy trading feature. You can follow over 100 pro traders, each with their unique trading style and risk appetite. We also liked the Smart Follow feature, which guarantees copy trades are executed immediately, giving you and the trader you follow the same entries and exits.

Margex stores user funds in a multi-signature offline wallet, which is monitored 24/7 to keep your assets safe. Additional features like email alerts, SSL encryption, and two-factor authentication further protect your account. You should keep in mind, however, that while you won’t need to provide personal information for crypto transactions, Margex requires KYC for fiat purchases and withdrawals.

13. NGRAVE ZERO – Best Private Crypto Wallet for Advanced Security

NGRAVE ZERO is a popular anonymous Bitcoin wallet that doesn’t require identity verification, ensuring maximum privacy. It uses air-gapped technology, which keeps it completely offline, making it immune to remote hacking. This device also offers real-time key generation using a unique light-based system, adding a physical security layer.

The NGRAVE wallet is highly secure, with military-grade encryption and biometric features like fingerprint scanning. We also liked its large touchscreen, which allows easy navigation and makes it user-friendly despite the advanced crypto security setup.

Although it’s the priciest hardware wallet on our list, NGRAVE stands out with its extensive crypto support and robust build. It supports a wide range of cryptocurrencies (1,500+), including privacy-centered coins like Zcash, and is built to withstand harsh conditions, being both water- and dust-resistant. Although comparatively pricey, NGRAVE is worth the investment for those who need top-tier security.

14. SecuX – Best Anonymous Cold Wallet for Touchscreen Interface

The SecuX W20 doesn’t require KYC and uses an air-gapped design for offline key storage. It uses a CC EAL5+ Secure Element chip to protect your private keys from online threats. This design ensures that your keys never leave the device, maintaining complete privacy.

Priced at $119, the SecuX W20 supports a whopping 10,000+ tokens, including Bitcoin, Ethereum, and Solana. We particularly enjoyed its large and responsive color touchscreen display and intuitive interface, which make managing assets straightforward. With Bluetooth and USB connectivity, the wallet is compatible with MetaMask and DeFi platforms, enhancing its versatility.

The SecuX W20 doesn’t skimp on security either, offering dynamic PIN entry and passphrase support for extra protection. You can easily view your portfolio and verify transactions directly on the device. And with a QR-based WalletConnect integration, it simplifies access to decentralized apps, making it a solid choice for secure and anonymous crypto management.

15. SafePal S1 Wallet – Most Cost-Effective Anonymous Bitcoin Wallet

SafePal ensures anonymity by not requiring KYC verification and offering offline transaction confirmations, keeping your private keys away from the internet and any third parties. The wallet’s air-gapped approach enhances your privacy, ensuring that your crypto activities remain secure and anonymous.

Priced at $49.99, SafePal S1 is among the most cost-effective hardware wallets we’ve tested in 2025, supporting thousands of coins and tokens, including Bitcoin, Ethereum, and BNB. We also liked that it integrates with DeFi platforms, allowing seamless interaction with dApps. Backed by Binance Labs, SafePal’s reputation for reliability and security is well-established.

SafePal lets you store and view NFTs, making it versatile for both crypto and digital asset holders. Its EAL5+ certified secure chip, combined with a self-destruct feature, protects your assets from physical and digital threats. This wallet’s affordability and robust features make it a strong competitor in the anonymous hardware wallet market. In addition, it offers a completely free software version, which also doesn’t require identity verification.

What Are Anonymous Crypto Wallets?

Anonymous crypto wallets are designed to maximize your privacy by concealing your identity and transaction history. They don’t require KYC verification, letting you manage your crypto without linking your identity to your wallet or transactions.

They also prioritize privacy features, such as using no centralized servers and often integrating with privacy-focused blockchains like Monero or Zcash. For example:

Anonymous wallets also work with tools like Tor (as is the case with Trezor) or VPNs for crypto trading, enhancing anonymity. They’re ideal if you value financial privacy, but may be harder to recover if lost due to having no centralized backup or recovery process.

How Do Anonymous Wallets Differ From Regular Crypto Wallets?

Regular crypto wallets may require you to provide personal information (e.g., for KYC compliance), especially on regulated platforms like Coinbase or Binance. Your account is tied to your name, email, or bank details, and the wallet providers often share user data with authorities. Private crypto wallets, however, avoid such tracking and let you buy crypto without SSN, ID, or proof of address requirements.

Key Differences From Other Wallet Types

The key difference is personal data. Regular wallets tie your identity to your funds; anonymous wallets keep you off the radar. But there are some wallet type-specific differences to consider:

Your choice depends on privacy needs and asset type compatibility.

How Do No-KYC Wallets Work?

Anonymous crypto wallets work by letting you store, trade, and manage your crypto tokens without requiring any personal information. But to fully understand the mechanism, we’ll need to take a step back and discuss “custodianship.” There are two types of crypto wallet services available — custodial and non-custodial (also called self-custody).

Let’s explore how each wallet type works.

Custodial wallets are offered by centralized providers. In most cases, this is a crypto exchange, such as Binance. The custodian is responsible for keeping your cryptocurrencies safe. However, there are some drawbacks.

For a start, custodial wallets rarely allow you to store cryptocurrencies anonymously. On the contrary, you’ll likely need to go through a KYC process. This means your account and wallet must be verified via a government-issued ID. Moreover, custodial wallets don’t give you access to your private keys.

There’s a saying in the blockchain space — not your keys, not your coins. Many in the crypto space feel that you never truly own your cryptocurrencies if you don’t have access to your private keys.

In contrast, non-custodial wallets don’t require any personal information, and you certainly won’t be asked for KYC documents. Instead, you can store, send, and receive cryptocurrencies anonymously. Most importantly, non-custodial wallets give you full control of your private keys.

The wallet will give you a unique blockchain address, which you’ll need when receiving tokens. As anonymous wallets are decentralized, transactions can never be blocked. Nor can your wallet balance be frozen.

Are Anonymous Crypto Wallets Safe?

The best no-KYC crypto wallets offer advanced security measures to keep your crypto safe. These include two-factor authentication, military-grade encryption, MPC technology, offline private key storage, and many more. In addition, providers like Zengo, Cypherock, and Phantom scan transactions in real time, providing protection from malicious smart contracts.

However, as we discussed, anonymous wallets are self-custodial by default. This means that the wallet’s biggest vulnerability is you and the way you store your private keys and seed phrases, as well as your understanding of the various crypto scams out there.

With that in mind, even the safest crypto wallet can’t protect you if you give your seed phrase to a scammer pretending to be a customer support agent or paste/import your private key into a fake platform designed to drain you.

So, provided that you pick a secure option, your wallet will be as safe as you make it. Always take advantage of your wallet’s full set of security features. Create strong passwords for your accounts and store your seed phrases in a secure place, offline. And finally, educate yourself about the various scams, malware, and hacks that target crypto traders and investors.

What are the Advantages of Crypto Wallets Without ID Verification?

Apart from bypassing KYC verification, the main benefits of anonymous crypto wallets are full custody over your assets and easy access to trading and staking services. So, let’s explore these advantages in more detail and discuss why you should consider staying off the grid when it comes to your crypto holdings.

Full Control of Your Cryptocurrencies

We’ve established that anonymous crypto wallets offer a self-custody service. This means that only one person has access to the wallet’s private keys — you. Without the private keys, no one can access the wallet, so you have full control of your cryptocurrencies.

After all, not even the wallet provider can access your funds. What’s more, you avoid the risk of having transactions blocked or delayed. This isn’t the case when using a custodial wallet, as you need to wait for the provider to approve transactions. This goes against the ethos of cryptocurrencies and blockchain technology.

Ultimately, a crypto wallet with no KYC will allow you to store and build wealth away from the traditional financial system. You don’t need to trust that the provider is keeping your cryptocurrencies safe, as you’re in full control. This has never been more important since the collapse of FTX, which resulted in billions of dollars in customer losses.

No KYC Processes – Remain Anonymous

Anonymous Bitcoin wallets don’t require going through a KYC process. You simply need to download your chosen wallet and transfer tokens to your unique address. The provider will collect no personal information. However, some wallets may ask for an email address, so we recommend using a burner that’s not connected to your identity in any way. Using a VPN offers additional protection, as the wallet provider won’t be able to see your IP address or location.

What Our Expert Says...

Anatol Antonovici

Crypto Content Writer, Blockchain Expert

“When you send or receive cryptocurrencies, transactions won't be attached to your identity. The blockchain only displays the sender's and receiver's wallet addresses, which are long strings of alphanumeric characters.“

Anatol Antonovici

Crypto Content Writer, Blockchain Expert

You won’t benefit from the same levels of anonymity when using a custodial wallet:

This is the case even if you transfer the Bitcoin tokens to an anonymous wallet. After all, you’ve already provided your personal data to Binance, so everything can be tracked.

Trade Crypto and Earn Interest Anonymously

If you’re wondering how to buy Bitcoin anonymously with fiat money, your options will be limited. Due to anti-money laundering (AML) laws, fiat on-ramp providers must perform KYC procedures. This will be the case even if you’re using an anonymous wallet.

That being said, you’ll be able to trade cryptocurrencies anonymously and without KYC checks.

For example, Best Wallet is an untraceable crypto wallet that comes with an in-built decentralized exchange. This allows you to swap tokens without going through a centralized entity.

Let’s say you’re currently holding BNB in Best Wallet, but you want to swap it to Shiba Inu. All you need to do is swap BNB for SHIB directly in your Best Wallet dashboard. This means you don’t need to transfer funds to an exchange. You can also purchase cryptos in-app using fiat currency. Apart from built-in DEXs, you can also connect your anonymous wallet to a third-party decentralized exchange. Top options in 2025 include Hyperliquid, Raydium, and Aster DEX, which is a new platform backed by Binance that allows hidden orders for maximum anonymity.

What’s more, some wallets allow you to stake cryptocurrencies anonymously. This means you can earn interest on your idle cryptocurrencies, putting your investments to work.

What are the Drawbacks and Risks of Anonymous Crypto Wallets?

The drawbacks and limitations of anonymous wallets mainly boil down to increased personal responsibility and the fact that maintaining your privacy when transacting with crypto is an ongoing process. Let’s unpack that:

First and foremost, no-ID wallets put the responsibility of protecting and managing your assets in your own hands. Since no one knows who owns the funds in your wallet, there’s also no one to help you recover your assets if you lose access to your private key, seed phrase, or wallet account.

What Our Expert Says...

Tsvetomir Koychev

Content Lead, Exchanges & Wallets

“In addition, even the best anonymous Bitcoin wallet can't keep you incognito if you're not careful. That's because anyone can track transactions on public blockchains, such as Bitcoin and Ethereum. So, say you have crypto in an anonymous wallet, but then you send it to a centralized crypto exchange that has your personal data. This creates a link between the wallet and your identity, and while difficult, a blockchain sleuth with enough skill or resources could potentially discover who you are.“

Tsvetomir Koychev

Content Lead, Exchanges & Wallets

And finally, no-KYC crypto wallets are just not as user-friendly as custodial, CEX-based options. For example, you most likely won’t be able to purchase crypto with fiat, as most providers require identity verification. The same goes for selling crypto for fiat and cashing out to your bank account. Furthermore, anonymous wallet providers often lack or offer limited customer support, so you’re mostly on your own should you face any issues.

How to Spend Your Crypto Anonymously?

Spending your crypto anonymously is trickier than simply storing your assets without revealing your identity, though we found several effective methods. Note that these require you to spend crypto directly, as withdrawing to a bank account or card will reveal your identity.

While these methods are useful, they come with drawbacks, such as high fees, inconvenience, and the fact that crypto isn’t a widely accepted payment method yet, so your options for purchases will be limited. In addition, you should take into account the regulations around crypto anonymity in the country you live:

Are Anonymous Bitcoin Wallets Legal?

Bitcoin wallets with no ID requirements are perfectly legal for individuals almost everywhere, and there’s no scrutiny when using them to store your crypto assets. Even in cases where there are restrictions, most of the weight falls on regulated crypto exchanges in the form of KYC requirements. So, let’s discuss the laws regarding crypto self-custody and privacy in major countries:

As you can see, storing crypto anonymously as an individual is allowed in most parts of the world. Generally speaking, anonymous crypto wallets are merely software that sits between you and the blockchain. The cryptocurrencies aren’t actually stored in the wallet itself, and self-custody wallet providers don’t have access to your private keys. Therefore, they can’t block or freeze transactions, let alone obtain your real-world identity.

How to Set Up and Use an Anonymous Crypto Wallet: Step-by-Step Guide

Now that you know how anonymous wallets work and their pros and cons, let’s go over the steps to download and set up one. We’ll use Best Wallet for this walkthrough, which is available as a mobile app for Android and iOS.

Step 1: Download Best Wallet

Head to the official Best Wallet website and hit the Download Best Wallet button in the top right corner. From there, you can scan the QR code with your smartphone, which will take you to either Google Play or Apple App Store, depending on your device.

Step 2: Set Up Your Account

Once installed, open the app and enter an email address. We recommend using a burner email for maximum privacy. You’ll only need it once, to confirm your account.

Step 3: Secure Your Wallet

Unlike traditional non-custodial wallets, Best Wallet won’t provide you with a seed phrase, eliminating this vulnerability. Instead, the wallet will split your private keys, then encrypt them and store one part on your device, and another on the cloud. The app will also ask you to select a passcode and set up 2FA and/or biometric authentication (fingerprint/Face ID) for an extra layer of security.

Step 4: Store, Buy, Sell, or Trade Crypto

You can now use Best Wallet to its full capabilities, including buying, storing, managing, and trading your tokens.

FAQs