Best No KYC Crypto Exhanges Available for Canadians in 2025

1. Bitunix

Bitunix seems to be the #1 choice for Canadians looking to trade crypto without undergoing KYC. Setting up an account is simple—all you need is an email address and a password to start trading. No-KYC accounts come with a daily withdrawal limit of ≤500,000 USDT, and that’s the only restriction in place.

One standout feature of Bitunix is its low trading fees, made even better by a tiered VIP system. As a beginner (VIP 0), you’ll pay just 0.08% as a maker and 0.10% as a taker for spot trades. As your 30-day trading volume grows, these fees drop significantly. At the highest level (VIP 7), the maker fee is only 0.01%, and the taker fee is 0.0325%. This structure makes Bitunix highly appealing for active traders.

Bitunix offers over 280 crypto trading pairs, giving users a wide variety of assets to trade. This makes it a versatile choice for those looking to diversify their portfolio or explore niche crypto options.

A key downside for Canadians is that Bitunix doesn’t support CAD deposits or withdrawals. There’s also no P2P market available, so the only way to fund your account is through crypto deposits. Same with withdrawals in Canadian dollars. I’ve explained this process step-by-step in my Bitunix video tutorial, which simplifies the onboarding process.

Bitunix claims to prioritize security by storing the majority of user funds in cold wallets, which reduces the risk of hacking. However, the platform doesn’t disclose the exact percentage of assets held offline. In comparison, platforms like Bitbuy openly state that 97% of funds are securely stored in cold wallets, offering a higher level of transparency.

Surprisingly, Bitunix is FINTRAC-registered under MSB #M24043791, adding an extra layer of credibility for Canadian users. I am not sure how they managed it, but they did.

As a crypto expert and the owner of OCryptoCanada.ca, I’ve thoroughly tested Bitunix and found it convenient for quick, anonymous trades. However, while I appreciate the privacy Bitunix offers, it’s important to acknowledge the risks associated with platforms that don’t comply with Canadian regulations. Exchanges like this often attract a mix of users, including those involved in gray-area transactions.

Personally, I’m cautious about leaving funds on Bitunix—or any exchange, for that matter. Since there’s no guarantee the platform will still be operational tomorrow, I transfer my crypto to a hardware wallet (I use Ledger Stax) immediately after completing trades. I only keep a small balance on the exchange for immediate trading purposes. If you decide to use Bitunix, I strongly recommend adopting the same approach to minimize risk. Remember, the security of your assets should always come before convenience.

According to CoinMarketCap’s liquidity scores (0 being the least liquid and 1000 being the most), Bitunix performs impressively. Its Bitcoin market has a score of 700/1000, and its Ethereum market scores 680/1000. These scores indicate robust liquidity, making it easier to execute trades even during peak market activity. This adds a layer of trust to Bitunix and its daily trading operations.

2. MEXC (With a VPN only)

MEXC is another excellent no-KYC option, but it comes with a catch—MEXC recently listed Canada as a disabled region. However, many Canadians continue to use the platform by accessing it with a VPN. For example, I tested MEXC with NordVPN, selecting an Indonesian IP, and it worked flawlessly. The platform operated smoothly, allowing me to trade without any issues.

While MEXC doesn’t currently prohibit VPN usage in its terms of service, this could change at any time. The platform might add a clause like “VPN prohibited” to its user agreement, which could create complications for Canadian users. It’s something to keep in mind if you choose to trade on MEXC.

MEXC allows Canadians and users all over the world to trade, deposit, and withdraw funds without completing KYC verification. For unverified accounts, the daily withdrawal limit is an impressive 30 BTC, which is significantly higher than many other platforms. However, advanced features and higher withdrawal limits—up to 200 BTC daily—are only available for verified users.

MEXC offers competitive fees and an extensive range of trading options. 

• Spot Trading Fees: Both maker and taker fees are set at 0.05%. Enabling the MX Token deduction feature grants a 20% discount, reducing fees to 0.04%.

• Futures Trading Fees: The maker fee is 0%, and the taker fee is 0.02%. Holding a minimum of 1,000 MX tokens for 15 consecutive days qualifies users for a 50% discount, lowering taker fees to 0.01%.

Additionally, MEXC occasionally offers promotions with zero trading fees for specific pairs or periods. For instance, a recent event provided 0% maker and taker fees for all USDC spot trading pairs. Overall, it's cheaper than Bitunix. 

MEXC supports a vast array of trading pairs, offering users the opportunity to diversify their portfolios across numerous cryptocurrencies. As of recent data, MEXC lists over 2,700 cryptocurrencies and provides more than 3,000 trading pairs, making it one of the most versatile platforms for crypto traders. MEXC is winner over Bitunix here as well.

The platform implements industry-standard security features, including cold wallet storage for user funds. However, similar to Bitunix, MEXC doesn’t disclose the exact percentage of assets stored offline, which is a transparency issue for some users.

My Personal Recommendation

I’ve tested MEXC extensively and found it to be a reliable option—if you’re comfortable using a VPN. That said, it’s crucial to recognize the risks involved with this approach. If MEXC updates its terms to prohibit VPN usage, your account could be flagged or even restricted. I don't see it happening, but this is what I always keep in mind.

Overall, MEXC offers lower fees, more crypto pairs, and additional features compared to Bitunix, but the need for a VPN places it in the second spot in this ranking of the best no-KYC crypto exchanges for Canadians.

If you decide to trade on this platform, consider transferring your funds to a hardware wallet (I use Ledger Stax) immediately after completing your trades. This minimizes your exposure to potential risks, including changes in platform policies or access issues. As always, prioritize the security of your assets and stay informed about the platform’s terms of service.

3. Bitcoin Well

Bitcoin Well is the only Canadian platform where you can trade Bitcoin without KYC. For someone like me, who’s been navigating the Canadian crypto landscape for years, this feels like a rare gem in a heavily regulated market.

While it exclusively supports Bitcoin, it provides the cheapest rates for buying and selling BTC among all Canadian exchanges.

Bitcoin Well is transparent about its fee structure, which varies depending on the transaction type. For online transactions, the fees are 1.5% for purchases and 1.2% for sales. When I compared this to other Canadian crypto platforms, it was clear that Bitcoin Well offers some of the lowest rates around. For those who prefer in-person transactions, their Bitcoin ATMs charge between 6% and 8%, which is competitive in the crypto ATM space. If you’re looking for the cheapest way to buy or sell BTC in Canada, this platform delivers.

Once you confirm your email, you unlock additional no-KYC features, such as the ability to sell Bitcoin directly through the platform. For Canadian users, Bitcoin Well provides a daily and weekly limit of $9,500, with the same limit applying to eTransfer withdrawals. Not much, but good enough for many people. This ensures flexibility while managing your Bitcoin assets without requiring further personal information.

Bitcoin Well places a strong emphasis on security. As a FINTRAC-registered entity (MSB #M20517470), it complies with Canadian regulations for financial transactions, ensuring a secure environment for users. The platform also integrates two-factor authentication (2FA) to safeguard accounts and has a solid reputation in the Canadian crypto community for safe and reliable transactions.

Here’s what makes Bitcoin Well stand out for me—it’s not just a place to buy and sell Bitcoin. The platform lets you purchase gift cards directly from your Bitcoin wallet without even needing to confirm your email. It’s quick, anonymous, and something I’ve personally used to test its ease of use. They also offer a feature to pay bills with Bitcoin, which I think is an incredible way to integrate crypto into everyday life. For Canadians who want to truly spend their Bitcoin, this platform is one of the best options.

My Personal Recommendation

As someone who has been trading crypto in Canada since 2016, I appreciate Bitcoin Well for its simplicity and focus on Bitcoin. While it may lack support for other cryptocurrencies, it excels at what it offers: privacy, affordability, and ease of use. If you’re looking to buy, sell, or even spend Bitcoin in Canada, Bitcoin Well is a platform worth considering.