A niche corner of the cryptocurrency market is drawing fresh attention from users who want to exchange digital assets without leaving a personal trail. Known as anonymous crypto exchanges, these platforms let traders swap one coin for another without creating an account, submitting an email address, or uploading a government-issued ID. The appeal is straightforward: no central record ties a person’s name to their trading history.

HiddenSwap, a no-KYC exchange operating at hiddenswap.com, is among the services built around this model. Instead of a login, each transaction is tracked through a unique order ID that functions like a digital receipt. Users enter the coins they want to exchange, the amount, the destination address, and…