23 September 2020
The time Bitcoin was introduced - people were unaware and confused about Bitcoin and the whole concept of cryptocurrency and blockchain. The trust was at stake and the new technology seemed anonymous to many people - the thought is - cryptocurrency is based on blockchain technology which is a public distributed ledger - meaning anonymous is par away with Bitcoin.
When you use your ID to buy Bitcoin, it leaves a trail that in a matter of time with the help of resources can lead your transaction to be de-anonymize on the Bitcoin’s blockchain.
Thus, many users tend to find ways to process their transaction in anonymity when interacting with Bitcoin network that is ‘how can they buy bitcoin anonymously without the need for an ID’.
Users can use various tricks and methods to stay anonymous, also many companies offer anonymous buying and selling of Bitcoins. It allows the users to buy Bitcoin without the need for ID verification. However, things so crucial can never come for free, these methods or processes cost 5-10% more than the conventional ways of buying Bitcoins.
Even after all the precaution, it isn’t guaranteed that tricks or methods might always work. You could be tracked via -
- Identified by your IP
- Identification through private wi-fi
- Disclosure of Bitcoin public address
And so forth. The user in the world of cryptocurrency or any stream that relates to money and assets has to be diligent and updated.
While you can obtain bitcoin by - mining, exchanging, earning or buying.
In this blog, we are going to discuss 8 Ways To Buy Bitcoin Without ID And Stay Anonymous:
CoinMama was launched in 2013 and it is one of the popular options for the novice or beginners to purchase bitcoin anonymously. The user can buy bitcoin of worth $150 without the need of an ID through debit or credit card.
CoinMama serves over 2,300,000 people across 188 countries.
CEX.IO is a bitcoin exchange that started in 2013 and is the USA registered exchange. It facilitates its users to buy cryptocurrency of worth $100/day without the need of an ID, however, it is applicable when the user buys through a credit or a debit card.
The payment method it follows are - Credit cards, Debit cards, SEPA, ACH, Skrill, Qiwi and Faster payments. While the currencies it supports are USD, GBP, EUR, RUB, BTC, USDT, ATOM, ONT and many more.
Also Read, Will Bitcoin Ever Replace Fiat?
LocalCryptos is a peer-to-peer market place where the users can buy and sell cryptocurrency on their own terms through any payment method and that allows its users to make transactions without the need of ID. The user can contact sellers online and trade either online or offline, pay in cash or send money via wire transfers, PayPal, SEPA or direct bank deposit.
The wallet is non-custodial while the platform works as an escrow manager and the fees are pre-defined - 0.25% for the market maker and 0.75% for the buyer.
LocalCryptos serves more than 100 countries and over 100,000 crypto traders.
BISQ is a peer-to-peer network and it is open-source desktop software that enables the users to buy and sell bitcoin for fiat or any other cryptocurrencies.
It is a decentralized exchange that does not require its user’s name, email ID or verification. It uses Tor to stay as an anonymous p2p network, from placing an order to execution it is decentralized wherein it also doesn’t hold fiat or BTC on its server or on their account.
At present, it supports about 126 cryptocurrencies and it is available on Mac, Windows and Linux platforms.
5. Mycelium Local Trader
Mycelium Local Trader is a decentralized in-person exchange and a popular Bitcoin wallet. It uses the phone location to get the user connected to the traders nearby by making a list of the sellers from the app. Basically Local Trader helps arrange the trade between the buyer and the seller, manage the transaction and calculate reputation ratings that are based on the trades.
Thus, the buyer and seller meet in person to exchange and complete the transaction of fiat/bitcoin without any needs of ID.
Also Read, Bitcoin v/s Credit cards
6. Wall Of Coins
Wall Of Coins is another platform that helps in purchasing bitcoin without the needs for an ID. it is a peer-to-peer exchange that is available in US, UK, Canada, Poland, Philippines, Germany, Latvia and Argentina. It is a cash-based system wherein the buyer will have to go to the bank and deposit cash in the seller’s bank account. Once the transaction is confirmed, the coins are transferred from the escrow.
7. Person To Person Purchase
This is one of the unique methods to purchase bitcoin without the need for an ID. With the increasing adoption of BTC, you might have come across people who own BTC. So instead of using other platforms to make a purchase, you can directly ask to sell BTC, and people might be interested in selling BTC at the exchange price or maybe even lower as the seller would be saving money on taxation.
8. Bitcoin ATMs
The user can even buy bitcoin through Bitcoin ATMs without the need for an ID as few BTC ATMs does not require identity or facial / fingerprint identification. The user could buy Bitcoin from such ATMs in exchange for fiat currency. With such ATMs, it asks the user to scan their public address and then transfers BTC (i.e. equivalent to fiat you deposited) to the address that the user stated. And in case if the user does not have a public address, he/she can select the option “don’t have an address” and the ATM will generate a paper wallet for the user.