In this article, we are going to comprehensively talk about each option, how you can buy bitcoin anonymously, as well as other factors you need to keep in mind. Regardless of whether or not you are engaged in anything unlawful and problematic, sometimes you simply don’t need anybody to know who you truly are.
The adoption of cryptocurrencies is rising. Apart from the price records and growing interest in blockchain technology, the several benefits of the original cryptocurrency are increasingly getting attention. One of the motivations behind bitcoin is the necessity for protecting buyer privacy from unlawful and lawful sources. If you want to buy bitcoin without verification, the process is not very user-friendly, and it requires quite a lot of effort.
Let’s talk about the available options to buy bitcoin without id.
Peer-to-peer (P2P) websites can provide a higher level of anonymity as they connect you to other bitcoin sellers directly. In most cases, they do not request verification depending on the state of affairs. This is at the discretion of the buyer or seller. You have the option to complete transactions either on the site or determined by availability in person.
Our experience is that sellers usually operate according to “buy bitcoin no verification” policy. However, the level of anonymity possible is determined by the seller. You’ll see more sellers ready to transact anonymously if you decide to go with a face-to-face transaction. This involves unveiling your physical appearance to the seller (and your contact number). But if you have a throwaway sim card thereby the purchase is nearly anonymous.
Find a bitcoin ATM near you by checking this map if you want to easily buy bitcoin anonymously.
For those who recall how complicated the process of buying bitcoin was when it first emerged, bitcoin Automated Teller Machines were like a breath of fresh air. They’re quite easy in operation. You insert money into the machine and enter a bitcoin address. The machine measures the exchange rate and transfers bitcoin to the address.
On top of that, they’re highly anonymous in principle in any case. Since they accept physical notes, they can be a lot less stringent about ID than online exchange could be. However, there are many considerations determined by the situation when purchasing from the ATMs. Similar to other means to buy bitcoin, the less you purchase, the more anonymous you are. The most prominent ATM provider in European countries, General Bytes, lets you purchase up to €2000 daily without verification.
Our experience with bitcoin ATMs is that sometimes you need to provide a phone number. Especially, when you want to sell bitcoins, so you get notified when the transaction is confirmed. Make sure you provide a burner phone number to remain anonymous. Find other options to buy buy bitcoins with cash.
Honestly, most online exchanges require verification where you need to upload your ID and similar. Based on where you live, you can sometimes buy bitcoin anonymously the standard way on some online exchanges. However, this is in most cases subject to the amount you want to buy. What it means is that you can buy bitcoin on the platform, but do not expect to buy beyond a few hundred’s worths of bitcoins per day without verification. The small amount is often the most significant weak point when purchasing anonymously on exchanges.
For the technically minded user, mining bitcoin can also be a choice. Considering the competitive nature of mining, inexperienced miners is likely to make a loss on their endeavors. But thinking about the fees on lots of transactions anyway it could become cheaper than other available options (especially if you need a huge amount at some point). When it comes to anonymity, the key factor is the mining pool you work with. Some have very safe privacy practices; therefore I highly recommend you investigate before joining.
Cloud mining is an indirect way to buy bitcoin anonymously. BTC cloud mining offers a unique option for mining with a low cost of entry. You can buy the mining power of the hardware placed in remote data centers. This is opposite to traditional models of mining that involve maintenance and configuration of highly specialized hardware. Some cloud mining providers like Genesis Mining do not require any kind of verification when purchasing cloud mining. However, it looks like this is going to change soon as some big players already implemented KYC procedures.
Unidentified money transfer seems to be unnecessary for some people. But the truth is, there are countless valid reasons for it.
It can be a personal reason, for example, not wanting acquaintances or friends to know the amount you invest. There are security reasons, for example, there has been a massive flow of buying bitcoin in Venezuela in the past resulting from the failure of the government to regulate currency exchange rates.
The founding design of bitcoin was for decentralized societies to have the ability to transact without intervention, and that has lived up to this moment. Anonymity in bitcoin purchases is per se lawful in a lot of places.