Stricter rules are being introduced by legislators around the world for Bitcoin and other cryptocurrencies. As a result, traders are finding it more challenging to buy Bitcoin without identification. However, if you want to protect your privacy or don’t have the necessary identification, you can still purchase Bitcoin anonymously. You can now begin your trading activity with a trustworthy trading platform like https://biticode.org/ as well.
Why Would You Buy Bitcoin Secretly?
Anyone who is interested in Bitcoin is aware that Satoshi Nakamoto intended for people to utilise this cryptocurrency anonymously. The inventor of this cryptocurrency intended people to conduct transactions without revealing their identities.
However, as time passes, this idea is gradually losing its relevance. Exchanges are now required by several governmental organisations to conduct Know Your Customer (KYC) procedures.
As a result, in order to buy Bitcoin, you must provide personal information such as your name, address, and birthdate. And for some people, this might not even be a huge concern. This can be a major problem for people who cherish their privacy, though. Thankfully, you may still buy Bitcoin without through KYC requirements.
Proven Methods For Buying Bitcoin Without Identity Proof
You may buy the most popular cryptocurrency in the world on a number of platforms without providing proof of identity. You typically open an account, add fiat money to it, and then place a buy order on these platforms. Others will put you in touch with a buyer of Bitcoin and allow you decide where and when to meet in person to finalise the deal. Here are three tried-and-true methods for buying bitcoin anonymously.
Initial cryptocurrency Offering
The majority of cryptocurrency exchanges need customers to sign up and go through the verification process before they can trade Bitcoin and other cryptocurrencies. During registration, platforms could require for ID proof. You can find a platform, nevertheless, where you can register up and begin trading cryptocurrency without providing proof. However, some cryptocurrency exchanges require you to register with both a phone number and an email address.
Additionally, using shifting services is an excellent option to trade cryptocurrencies anonymously. These businesses make it easier for buyers who don’t want to go through the KYC process by connecting them with anonymous Bitcoin sellers.
2. Trading amongst peers
One of the most popular ways to purchase Bitcoin anonymously is using P2P. P2P platforms enable direct cryptocurrency trading between buyers and sellers. In these transactions, there are no middlemen like banks or governments. Numerous P2P platforms accept payments through a variety of channels, including gift cards, PayPal, wire transfers, and cash deposits.
Escrow services are offered by the majority of these platforms to safeguard buyers and sellers. Until the buyer certifies that they have received the agreed-upon sum, the escrow service keeps the Bitcoin. The platform releases the Bitcoin from escrow and hands it over to the seller once both parties have verified that the transaction is complete.
3. ATMs for bitcoin
Additionally, you can purchase cryptocurrency anonymously using a Bitcoin ATM. Not all Bitcoin ATMs, nevertheless, allow for anonymous transactions. Use a tool like CoinATMRadar to find Bitcoin ATMs that permit private transactions. This website displays a map with the locations of each Bitcoin ATM that is currently operational.
While asked if you already have a profile on the exchange when using a Bitcoin ATM, choose “I don’t have an account.” In addition, select “no verification” when asked for your KYC information. To require a confirmation code, you might need a phone number, though.
A final salvo
These three options will allow you to buy Bitcoin privately. Whenever you trade cryptocurrencies on any site, keep in mind to stay away from con artists. Trade bitcoins on a trusted platform with people who have a good reputation.