How to Buy Bitcoin Anonymously
Hello guys, We welcome you to yet another interesting episode of money-making at Metabanklogs.com. Today we will discuss extensively how to buy bitcoins anonymously using your credit cards.
A quick question, Is it possible to completely buy bitcoin anonymously? Yes, it actually is (a short answer).
Bitcoin is basically a secure way to trade anonymously but, it is NOT a fully anonymous platform. As a matter of fact, all exchange transactions require ID verification KYC style, and all transactions are visible on Blockchain and can be accessed by intelligence agencies and even other individuals can track your bitcoin transactions. But in all, you can actually bypass this verification process, now that’s some good news.
First, you will need a Bitcoin Wallet – Software and hardware Wallets for exchanges.
Then you will signup to P2P services like Paxful or just use Bitcoin ATMs to transact.
Another way to remain anonymous when buying bitcoin with credit cards is to sign up for services like BitQuick
Also note that you will need a VPN, Tor and coin mixers to improve online anonymity will buying bitcoins
IS BITCOIN ANONYMOUS?
Ordinarily, Bitcoin is not anonymous, except you utilize anonymous services such as peer to peer, a VPN or Bitcoin ATM for your transactions
We can guarantee you that when you buy Bitcoin using your credit card, the transaction will be save on a public ledger reffered to as BLOCKCHAIN. How to Buy Bitcoin Anonymously.
According to 99BItcoins, the information stored of every transaction will include the Bitcoin address of the sender, the address of the recipient, and the amount of the Bitcoin.
HOW TO BUY ANONYMOUSLY WITHOUT ID
The only problem associated with buying bitcoin without ID is the cost
According to Buy Bitcoin Worldwide, although exchanges such as Luno and Coinmama charge low rates when you deposit money using a bank transfer or credit card.
HOW TO BUY BITCOIN USING A CREDIT CARD
Here, we will explore the various methods to buy bitcoin anonymously
1. BITCOIN ATMs
Just like the regular ATMs, BItcoin also has its Atm. Though a regular ATM dispenses physical cash, the Bitcoin ATM credits your BItcoin wallet. There is no need for verification while using the Bitcoin ATMs. However, the amount of bitcoin you can buy is limited until verification.
HOW TO FIND BITCOIN ATMS NEAR YOU – The Bitcoin ATM is not regularly used so you would need a BItcoin ATM map to find Bitcoin ATMs. Check out these ATM maps
Although the Bitcoin ATM guarantees anonymity when buying bitcoin, you can pay about 5-10% markup fee. Markup is a fee for the privacy offered, ensure to check and confirm the price of the ATM against the Bitcoin price index
2. PREPAID CARD
You can purchase a prepaid card for any convenience store and use it to buy Bitcoin. No ID is needed for this but a VPN or Tor is needed to hide your IP address.’
3. PEER 2 PEER (P2P)
Peer-2-peer is a network of computers that can assist you to buy Bitcoin without any trace of your identity. These are some peer-2-peer that you can use to buy Bitcoin and still remain anonymous
- Wall of Coins – This peer-to-peer service exchange is known as the Wall of coins. You need only the phone number but without ID and the phone number is not required for any verification. You can use a burner phone number and register to buy Bitcoin THis service is currently available in the United States, UK, Germany, Latvia, Philippines, Poland, Canada, and Argentina
- LocalBitcoin – Here, you can buy Bitcoin without ID verification through a cash deposit or trading in cash. Once you find a seller on LocalBitcoin, you can buy the Bitcoin without the fear of your information being stored.
- BitQuick – You can buy bitcoin anonymously with this service even with your eyes closed. Just find a user who is willing to trade, they load the Bitcoin on BitQuick this serves as an escrow until the transaction is successful. You will deposit the money to the bank account of the Bitcoin seller, wait for the buyer to confirm the payment then you will receive your bitcoin from BitQuick
- Bisq – This service allows you to buy and sell cryptocurrencies in exchange for national currencies. It is an open-end software that does not require registration. The company does not hold Bitcoin. It locks the BItcoin in multi-signature addresses rather than a designated wallet. It does not hold fiat currencies like Euro and Dollar. It is directly transferred between traders.
- HodlHodl – This allows you to trade bitcoin directly with others. It is an excellent P2P exchange for BItcoin that does not hold funds. Hodlhodl holds your cash in a multi-signature escrow that oversees the transactions and prevents theft.
- Paxful – This is also a trusted P2P service that allows you to buy Bitcoin. Verification here is optional, so you can decide to skip verification if your transaction is associated with illegal activities. Though most traders dread trading with anonymous users since a bank deposit is involved, you are good to go.
TIPS TO USE BITCOIN ANONYMOUSLY
- Enhance Your Bitcoin Privacy – Try not to transact with the same IP address when transacting with bitcoin leading to your account. We recommend you use an HD Wallet (Hierarchical Determinant Wallet) that generates a tree-like structure of addresses (key) – public and private and saves you from generating them yourself.
- Manage your password securely – Most people make the mistake of using a weak password and repeating your password is an even worse mistake especially for multiple accounts. Most likely, if one account is hacked, it will;l take the hacker nothing to hack your other accounts. but instead of creating new passwords, use a software-generated password for each account and store them to encrypted, Google offers these services as well as other password management services that are also reliable.
- Do Not Use Hosted or SPV Wallets – SPV Wallets query a single SPV server for any transaction involving your wallet and do not store the blockchain locally. So, the SPV wallet can disclose the address associated with you to the server they are connected to. Also, your information can be exposed to cyber-attacks and the government or law enforcement can access your logs.
HOW TO PROTECT YOUR IDENTITY WHEN BUYING BITCOIN
We will discuss how to secure your bitcoin transactions and leave o trace. We also included some recommendations from Finder.com which would help increase your ID security while transacting with BTC
- Multiple wallets – CReate and manage multiple accounts, as it will help you stay anonymous
- Use a VPN – You can use that to hide your IP address to use to transact with bitcoin. Your IP address remains hidden when you send or receive Bitcoin.
- New Address for Each Transaction – A new address for a new transaction is perfect to ensure BItcoin transactions are untraceable. You can use a Hierarchical Deterministic Wallet to generate new addresses whenever you do any transaction.
- Dedicated Privacy Coin – You can obtain such coins such as Bytecoin and Monero to make anonymous transactions
- Coin MIxing Services – A coin mixer is an anonymous way to protect your identity, mixing multiple transactions from various users and creating a single transaction, hiding your identity
How to Buy Bitcoin Anonymously
This is important to store your user’s private keys. Below is a compiled list of the best Hardware Wallets
- TREZOR T
- Ledger Nano X
- TREZOR one
- Ledger Nano S
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