Are you interested to buy Bitcoin anonymously? Do you not like providing your photo ID for identification at various Bitcoin exchanges? Don’t worry. We have got you covered. In this guide, we will be trying our best to answer all your questions on how to buy Bitcoin anonymously.
How to Buy Bitcoin Anonymously
Before we give away information on how to buy Bitcoin anonymously, we would like to talk a bit about Bitcoin. Despite known to be anonymous, let us tell you that Bitcoin is not completely anonymous. Every transaction is publicly disclosed on the ledger.
Moreover, the KYC (Know Your Customer) steps required by most of the cryptocurrency exchanges make it quite easier to see how your Bitcoins can be actually traced back to you.
You can also buy Bitcoin anonymously with cash such as Bitcoin ATMs or LocalBitcoins. Further to that, there are also places that do not necessarily require your true identity and can also get away with minimal identification. BitQuick, for example, one such place.
If you’re looking to buy Bitcoin anonymously, you will be requiring solutions such as TAILS, Tor, a VPN service, coin mixers, and many more. When it comes to the price for anonymity, let us tell you that it is usually inconvenience and vice versa. It is up to you to decide how much you are willing to sacrifice one for the other.
Let us give you a review of all the methods that can be used to buy Bitcoin anonymously.
The easiest way to buy Bitcoin anonymously would be buying BTC in cash and in person. You can use LocalBitcoins for this purpose as it lets you find someone who is willing to sell their BTC for cash next to your physical location.
Other than that, you need to use an alias email ID to sign up to the LocalBitcoins website. You may even choose to skip the ID verification process as it is optional. The thing with using cash is that it becomes easier to remain untraceable as there is no documentation involved for the transaction.
Always keep in mind that the majority of the sellers on LocalBitcoins do not fancy doing business with anonymous buyers. However, if you’re paying in cash, it should keep you away from this trouble and won’t be an issue.
Another method to buy Bitcoin anonymously with cash is to your nearest Bitcoin ATM machine and buy the BTC from the ATM using your cash. Buying Bitcoin from the ATM would probably be the easiest way to buy Bitcoin anonymously. However, this method might not be suitable for many as not all of them would have an ATM next to them.
When you are asked to enter your Bitcoin address at the ATM, you can simply specify that you do not have one. In the majority of cases, they will generate you a new paper address so you can enter. Later, you can import the private key from that paper wallet per se and then send Bitcoins wherever you want.
You can also buy Bitcoin anonymously using a prepaid credit card that you can purchase at any convenience store or supermarket. With the help of this card, you can then buy Bitcoins without having to provide any form of identification at places like Virmox or Coinmama.