Buying Bitcoin anonymously has been getting difficult lately due to the rise in popularity. Most big exchanges require a KYC (Know Your Customer) and bank details to trade Cryptocurrency. Now you might have a privacy issue or in a situation where anonymity is important. If that is the case then we will show you how and where you can buy Bitcoin anonymously.
Also, read | Easy Steps to Convert Bitcoin and Other Cryptocurrencies Into Cash
Disclaimer: Gadgets To Use does not promote any malicious, criminal or fraudulent activity. All methods shown here are for educational purposes only and we do not take responsibility for any such actions.
Best places to Buy Bitcoin Anonymously
There are a few methods to buy Bitcoin anonymously. We will primarily focus on Pier-to-Pier Bitcoin Exchanges and how they work and the best places to buy bitcoin anonymously.
Also, read | Top 5 Best Crypto Exchanges in India to Buy & Sell Bitcoin and Other Cryptocurrencies
Note: You will always get a lesser value of Bitcoin compared to the amount you offer because of the transaction and anonymity fees and constantly changing price of the Bitcoin.
Some Prerequisites:
- Paid VPN for high security
- Secure Bitcoin Wallet
Pier-to-Pier Bitcoin Exchanges
Pier-To-Pier sites usually do not require KYC to make a purchase. You can easily set up an account using just an email ID and will let you buy cryptocurrency from individual sellers. These sellers will sell you Bitcoin in exchange for different types of funds you want to use.
This is one of the easier methods to buy Bitcoin anonymously that isn’t very complicated but it is recommended to be cautious and only go with sellers with high ratings.
Now that you have understood what is Pier-top-Pier Exchanges, let us take a look where some of our suggestions on places you can Bitcoin anonymously.
Paxful
Paxful is a popular place to buy or sell Bitcoin, Tether, and Ethereum. Setup is simple but it does ask you for your phone number for verification.
It has a large number of options you can choose from to pay for your Bitcoin and a decent number of trusted vendors. This would be our preferred option for Bitcoin and other cryptocurrency purchases.
Related article | Paxful Review: The Most Flexible Exchange to Buy and Sell Bitcoin
Hodl Hodl
Hodl Hodl is another place to buy anonymously without the need for KYC. This site emphasizes more on the security aspects. It uses two keys to unlock the cryptocurrency from the vendor when the transaction is made. In case of a dispute, you can contact their support team, which will lock the Bitcoin till the dispute is settled.
It also provides low transaction fees as well so you won’t get as little value compared to other places for your offer amount.
Bisq
Bisq requires you to install an application on your desktop. Other than that, it functions similarly to what we mentioned above. It also focuses on maintaining your privacy and uses its decentralized network to maintain anonymity.
They also offer a secure wallet but we would still recommend setting up a separate wallet account to transfer your cryptocurrency. It keeps your data stored in your machine and does not share it with any outside party which is why it is on this list.
You can also check more exchanges that focus on privacy and do not require KYC.
Other Methods To Buy Bitcoin Anonymously
Some other methods to buy or earn Bitcoin without risking privacy are complicated, time and resource-consuming, not widely accepted and some are not reliable. Let us take a look at those as well.
Mixer/Tumbler
Services that will mask your transactions to keep them anonymous. They add an extra layer of anonymity on top of your online Bitcoin transactions. They are complicated and are debatable on their functionality.
Bitcoin ATMs
Bitcoin ATM cards let you buy things just like normal cards but with your Bitcoins directly. Some of them even accept cash. The problem with them is the changing prices of Bitcoin and its unregulated nature. This is why some countries don’t allow these ATM cards and buying directly from Bitcoin.
Mine it yourself
Mining means validating and processing Bitcoin transactions of others on the blockchain for which you will earn a small mining fee. This is similar to the gas fees for Ethereum. The issue is that it requires an expensive computer and a lot of computing power and electricity.
Wrapping up
We discussed all the different places where you can buy Bitcoin anonymously and also some other methods used to buy Bitcoins. We hope now you have a better understanding of those ways. Again we would like to mention that these methods are discussed for educational purposes only and we do not promote any of these.
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