Quantum-noise randomized cipher (QNRC) is an information anti-interception communication method that combines the principles of quantum mechanics with classical stream cipher. In this study, the characteristics of a phase-shift keying (PSK) QNRC system are simulated and verified through a simulation system based on commercial components using VPI simulation software. In particular, the ciphertext electrical signals and the key electrical signals are generated based on an arbitrary waveform generator. At the receiving end, the binary signal is recovered from the multilevel ciphertext signal using a phase modulator and a differential phase-shift keying (DPSK) receiver. Finally, error-free communication is achieved at a data transmission rate and transmission distance of 2.5 Gbit/s and 500 km, respectively, in which the mechanism of the ciphertext is 256. This PSK scheme overcomes the problem of the intensity-shift keying (ISK) scheme, in which the powers of the transmitter and receiver must be matched during demodulation. The increase of mechanisms does not degrade the transmission performance of the PSK scheme and will help improve system security. Thus, the PSK scheme has potential security advantages.