So you want to buy Bitcoin anonymously, but all exchanges keep asking for your passport or address?
Don’t worry, you can get your hands on Bitcoin without anyone knowing. It just takes a little more effort.
One of the most surprising things people are finding out about bitcoin for the first time is that it is not anonymous.
Of course, your name isn’t on your private or public bitcoin address, but each route ultimately leads to fiat on or off the slip road. And that’s when your name is linked to your bitcoin transactions.
Most people know how to buy bitcoin from exchanges. The problem with exchanges, however, is that they ask for your contact details when you sign up.
How to buy Bitcoin anonymously?
You cannot participate in the buying and selling of bitcoin unless you provide your government-issued ID. Big brother wants to know everything, especially when it comes to money.
But there are ways to buy Bitcoin anonymously, and if you’d rather be private and don’t let anyone know what you’re buying, read on …
Why become anonymous?
Many people don’t understand why a law-abiding citizen feels the need to remain anonymous. They think if you have nothing to hide, that’s fine.
Everyone is different, however, and most people are willing to give every part of their footprint online for convenience.
But we’re not talking about Facebook or twitter. Bitcoin is real value, and because it is an open and traceable ledger, someone knowing you own Bitcoin can put you at risk
Each Bitcoin address associated with your name reveals how many bitcoins you have. It also keeps track of when you received them, who sent them to you, and to whom you sent them – unless the sender and recipient take careful steps to remain anonymous.
So buying and selling Bitcoin anonymously isn’t just for drug dealers or terrorists, it’s for those who value their privacy and security.
Bitcoin is not the best payment method for anonymous transactions. If you really want to transact anonymously, you better give someone money while no one else is there.
You see, every bitcoin transaction is on an open ledger, and anyone can see any transaction that has taken place at any point in bitcoin’s history.
A person’s identity is not associated with a private bitcoin address, but their name is associated with their cryptocurrency exchange accounts.
And once a name is matched with an address, with the right resources, an investigation can be conducted to uncover a lot of things about the person’s holdings.
Some see it as a weakness for Bitcoin, but the truth is, it’s not easy to put all the links back together. However, if the illegal activity has taken place and the police think it is worth it, then Bitcoin can help the police.
But if you really want to go incognito and buy Bitcoin anonymously, there are some hidden ways to do it.
To buy BTC anonymously, you will need to take precautions to prevent your real identity from being associated with your transactions and addresses.
Use a prepaid debit card
The best way to buy bitcoin without anyone knowing who you are is to use a prepaid debit card. You can get them online or at most supermarkets or pharmacists.
Once you have one, all you need to do is top up the card with as much money as you need and use it like a normal debit card.
Buy Bitcoin anonymously with a prepaid debit card
I’m not going to recommend any as the rules are constantly changing, but if you look hard enough you’ll find prepaid debit cards that you can top up.
Some of them have a lower bound than normal, but as with anything you want to do anonymously: they try to make it annoying.
Buy Bitcoins anonymously on Marketplaces
Most Bitcoin exchanges require your details when you want to buy BTC. They have to comply with Big Sam if they want to run a centralized business, so they want your contact details so the government can track you.
But there are certain exchanges, or markets, which are decentralized to some extent and do not needitcoin with anonymous money
You have to be pretty local, but if you can find a vendor remotely, you’re willing to travel, then the two of you come to an agreement and go meet.
It sounds a little fishy, but a lot of people go this route, and there is nothing illegal about it.
Just make sure that you are meeting in a safe environment and that all transactions are completed before you leave.
Buy Bitcoin anonymously with a Bitcoin ATM
Another way to buy bitcoin anonymously is to use a Bitcoin ATM. This is probably the easiest way to stay anonymous when buying Bitcoin if you live close enough to one.
Buy bitcoin anonymously with Bitcoin ATM
Bitcoin ATMs are not yet mainstream like their fiat counterparts. However, there is at least one in every city of a decent size, and their locations aren’t hard to find.
In fact, according to Coin ATM Radar, there are now 8,321 Bitcoin ATMs in 72 countries around the world.
There are 6,303 in the United States, 779 in Canada, 269 in the United Kingdom, and almost 1,000 in Europe.
So if you want to stay anonymous and find a Bitcoin ATM, you’ll find one, quite easily.
The problem with Bitcoin ATMs, however, is that they ask for your private key to send you your Bitcoin.
Remember, your private key is usually attached to your name somewhere on the line. So if you really want to protect your track, just say you don’t have a private key.
Ledger Nano X – The secure hardware wallet
The ATM will then print a paper wallet for you, which you can then send to yourself when you log back in.