"No KYC" usually means no account for a standard swap, not that verification never applies
Neither SimpleSwap nor ChangeNOW asks for an account on most crypto-to-crypto swaps, and both may request verification in defined compliance cases. Self-custodial does not mean verification-free on either platform.
The process a financial service provider uses to verify a customer's identity (Binance Academy). It is considered the foundation of an AML program, the rules and procedures meant to stop illegally obtained money from being passed off as legitimate income (Elliptic, TRM Labs).
What is the difference between KYC and AML?
KYC
- Who you are.
- Identity is checked before or during the customer relationship.
- Providers re-verify from time to time, because documents expire and risk profiles change.
AML
- What the money does.
- Policies, procedures and controls to detect and prevent money laundering.
- Includes transaction monitoring and address screening.
Account and verification are different things
| Feature |  |  |
|---|---|---|
| Account for a standard crypto-to-crypto swap | Not needed for most swaps | Not needed for standard swaps |
| Optional account | Customer Account: loyalty, price alerts, exchange history, address book, Address Check | ChangeNOW Pro: stored balance, internal conversion, cashback and account tools |
| Verification (KYC) | Fiat purchases through partners; optional one-time verification at registration; may be required for transaction security and compliance | Mandatory for users in certain regions under its September 2026 Terms; may be requested under its risk controls |
| Funds held on the platform | None: no long-term user balances | Only in ChangeNOW Pro, for users who opt in |
When can verification apply?
SimpleSwap
- Fiat purchases through payment partners.
- Optional one-time verification at registration.
- May be required for transaction security and compliance.
- A swap can be paused if screening needs a closer look.
ChangeNOW
- Standard swaps: no account needed.
- Its September 2026 Terms make KYC mandatory in some cases.
- AML/KYC checks may be requested in other cases under its risk controls.
- ChangeNOW Pro requires an account by design.
Service availability and the exact cases are set out in each service's Terms: SimpleSwap AML/KYC policy and ChangeNOW Terms of Use.
What documents do I usually need for crypto identity verification?
- Photo ID
Verification usually starts with a government-issued photo ID such as a passport, national ID card or driver's license (Binance Academy).
- Proof of address
Many services also ask for a recent utility bill or bank statement (TRM Labs).
- Selfie or liveness check
A real-time selfie from your device camera confirms the account owner is present. Photos from your gallery are not accepted (Kraken).
- Source of funds, if asked
Explains where the money for a specific deposit or transaction came from (Kraken).
Source of wealth is a separate, broader request that some providers make in enhanced due diligence.
What "no KYC" does and does not mean
"No KYC" means no checks ever.
On SimpleSwap and ChangeNOW it means no account for most crypto-to-crypto swaps. Both may request verification in defined compliance cases.
Non-custodial means verification-free.
Custody is about who holds the keys. Verification is a separate compliance question, and self-custodial does not mean verification-free on either platform.
A paused swap means I did something wrong.
A monitoring alert is not proof of wrongdoing. Many alerts come from legitimate but unusual activity, which is why human reviewers check them (Elliptic).
Verification happens once and never again.
Providers re-verify customers from time to time, because documents expire and risk profiles change (Binance Academy).
Before your first swap
- Use a wallet you control for both sending and receiving.
- Keep the order ID: it is what support asks for if a swap is paused.
- Read how address screening works, since it is one of the checks that can pause a swap.
Questions
What is KYC in crypto?
KYC, Know Your Customer, is the process a provider uses to verify a customer's identity, usually with a photo ID, sometimes proof of address and a selfie.
What is the difference between KYC and AML?
KYC verifies who the customer is. AML is the wider set of policies and controls, including transaction monitoring, used to detect and prevent money laundering.
KYC is considered the foundation of an AML program.
Does SimpleSwap require KYC?
Not for most crypto-to-crypto swaps, which need no account.
Verification may apply to fiat purchases through payment partners and may be required for transaction security and compliance. Registered users can verify once in advance.
Why would a crypto service ask for a selfie or liveness check?
To match your face to the photo on your submitted ID and confirm that the account owner is present in real time.
What does a source of funds request mean, and does it mean I did something wrong?
It asks where the money for a specific deposit or transaction came from. A request or an alert is not proof of wrongdoing: many come from legitimate but unusual activity.