Privacy, security and safety are three of the most important aspects of any digital asset. As crypto is not physically tangible like fiat money is, understanding how to safely and securely buy, sell, trade, manage and store your cryptocurrencies is undoubtedly necessary.
Expanding on this concept, highlighting that of privacy, it goes back to the basics of crypto and why it was even made: to create a decentralized, non-custodial exchange for anyone and everyone in the world.
In this article, we will explore why maintaining control over your assets is so important and how anonymously buying crypto, such as Bitcoin, helps to protect your investments and growing wealth.
Best Ways to Buy Bitcoin Anonymously
This is a tricky topic to unfold as the concept of privacy and traceability when buying and selling Bitcoin safely and other crypto can depend so much on laws and compliance.
Generally speaking, when you make a trade you need to give up some sort of personal information that can be traced back to you. This information is usually mandatory by financial institutions and enforced by law and policymakers, such as Know Your Customer (KYC) and Anti Money Laundering (AML) measures. However, there are a few ways around this…
Where and How: Staying Anonymous When Buying Bitcoin
1. Peer-to-peer (P2P) marketplaces:
Probably the most commonly thought of way to buy Bitcoin anonymously, P2P connects buyers and sellers directly. This method does not require either party to provide personal information or ID details. It links people who are willing to sell their Bitcoin for cash or even for gift cards and pre-paid credit cards. But a word of warning! Meeting with a stranger to exchange cash or other goods can be dangerous as it puts you at risk of scammers and robbers.
However, there are P2P platforms that facilitate exchange among users, but if you want to do it anonymously, you should pay attention. For example, the major exchange Binance offers P2P but is centralized, meaning it requires user registration and eliminates anonymity.
A P2P platform that stands out in terms of anonymity is Hodl Hodl. The platform does not require users to undergo identity verification but provides the option if the user desires. One advantage of Hodl Hodl is that it allows users to transfer funds directly between them, reducing trading time.
2. Decentralized exchanges (DEXs):
These are like “online exchanges” that allow you to buy and sell Bitcoin without providing personal information. This is a safer way for P2P trading.
A DEX is not governed by anyone. It’s not a company, and it doesn’t have employees. It is an exchange that operates through the blockchain, the well-known blockchain.
The most well-known DEXs include Uniswap, PancakeSwap, Sushiswap, or OKX DEX.
However, DEXs are more complex to use and offer less liquidity compared to CEXs because they are relatively new. Privacy and the absence of regulation are significant advantages, but you must learn to use these platforms securely.
3. Bitcoin ATMs:
Some Bitcoin ATMs will allow you to buy Bitcoin without providing an ID. The option and availability of these types of ATMs can vary depending on your location and the transaction size you want to make. For example, in Europe, if the amount is less than 150€, you are not required to give any personal information.
Once you have received your purchased crypto, you simply generate the private address and add the Bitcoin to your wallet.
These are some of the Bitcoin ATMs in the USA with low fees and strong privacy.
- Coinstar Bitcoin Machines.
- Coin Cloud Bitcoin ATM.
- Just Cash ATM.
- LibertyX ATM.
- RockitCoin.
Buying Bitcoin Anonymously With a Debit Card
OK, so you are not into using cash to buy Bitcoin but rather with a Debit Card? Well…this becomes a bit more tricky as debit cards are usually linked to centralized banking and therefore abide by KYC regulations. But, there is always a workaround, as I always say “where there’s a will, there’s a way”.
Your best bet in this case is to look into privacy-focused exchanges. Although these are centralized exchanges, they take extra steps and measures to protect your identity. Check out Changelly and Wasabi Wallet as some options.
This type of exchanges has many advantages, including anonymity, ease of use, and a wide range of available cryptocurrencies. However, you should keep in mind that the purchase fees are notably higher.
Non-Traceable Bitcoin Wallets
To put security and anonymity at the forefront of crypto investing was always the main goal of its designer, Satoshi Nakamoto. He/she or they (as we are not sure of their identity or if it is an individual or group), had the main objective of creating a self-custodial global currency.
This, of course, becomes more and more complicated as laws get put into place preventing certain trades and exchanges. This is why so many users are looking for non-traceable Bitcoin wallets.
This can be done in a few different ways, like coin mixing (combining different transactions from different users into one transaction) or a less complicated option is buying a trusted cold wallet.
And what better way to do so, than buying it with cash, anonymously?
Material Bitcoin: The Most Anonymous Crypto Wallet
Material Bitcoin is a non-custodial, crypto hardware cold wallet that is designed out of steel and stores your private keys safely. Available for Bitcoin, Ethereum and USDT, what sets this wallet apart from all others is the unique ability to buy it in cash. Simply choose to pay in person upon delivery!
Simple as that!
You might be thinking how can it be possible to not link a physical object made and produced in a factory and shipped to me not be traceable?
Well, it’s not.
You can really buy a crypto wallet anonymously from Material Bitcoin. As all of the boxes that your hardware wallet comes in are covered and look identical to any other one in our factory, we literally could not tell which wallet was being sent to whom.
Still, have some questions or doubts about buying Bitcoin anonymously? Check out our FAQ section:
FAQ
Can you buy Bitcoin anonymously with a credit card?
Buying Bitcoin or any other crypto with a credit card, much like the earlier mentioned debit card, is difficult and you will face a few challenges. This is especially because of KYC regulations that credit card companies and banks associated with them impose. But! There are some options if you do want to keep your privacy. You can either purchase with a pre-paid credit card (although, might be traceable depending on how to bought it) or buy Material Bitcoin Wallet using the pay-on-delivery method using cash.
Are all Bitcoin transactions anonymous?
If you do not take the extra measure to make your Bitcoin transaction anonymous, then, no it is not. And unfortunately, it is a common misconception that cryptocurrencies are all private and anonymous. All transactions are recorded on a public ledger and can be found by anyone, including hackers and scammers.
How to maintain privacy after acquiring Bitcoin anonymously?
Keeping your crypto private after buying Bitcoin means that you need to take extra steps and consideration in learning to safeguard your digital investment. Use non-traceable wallets, preferably cold hardware wallets for added safety, consider using a VPN when making transactions and stay updated on new laws and policies!
Material Bitcoin is committed to offering the most reliable and privacy-focused services, guiding users through the complexities of buying, storing, and using Bitcoin with an emphasis on maintaining anonymity.
0 Comments