Privacy · Jul 9, 2026 · 3 min read
What non-custodial means
Custodial exchanges hold your coins in accounts. Non-custodial swap flows move value order-by-order: you send a deposit, the exchange happens, and payout goes to your wallet.
No standing account balance
There is nothing to “withdraw later” from a user profile. If you want another swap, you create a new order with new deposit details.
What you still must get right
Payout and refund addresses are your responsibility. Network selection is your responsibility. Non-custodial does not mean mistakes are reversible.
Fit with no KYC / no AML
Anonymous Swap combines wallet-to-wallet flow with no identity onboarding and no AML scoring. That is different from a custodial “no KYC until withdrawal limit” model.