Can you buy Bitcoins anonymously? You definitely can! If that question has also lurked around your mind regarding the best ways to buy Bitcoin without ID, then that can be a thing of the past. You can still buy and sell Bitcoin from certain platforms who have not made providing an ID a do or die affair before trading.
On the other hand, the regulations in certain countries have made it compulsory for cryptocurrency exchanges to carry out KYC or AML procedures in a bid to combat the finance of crime using digital assets. But what happens when you have no ID or you’ll rather not trust a stranger with your personal information, does it mean an end to trades? certainly not!
That being the case, check out the best options below which will enable you to buy Bitcoin anonymously.
These machines come with the advantage of enabling you to bypass registration and KYC procedures prevalent on cryptocurrency exchanges. With over 4,500 spread across the U.S., UK, Austria, and other countries, you can easily locate one nearest to you using Coin ATM Radar. While some require registration and fingerprint authentication, others don’t.
On locating a machine, you can proceed to buy Bitcoin by supplying your wallet address and funding with cash. There are also Bitcoin ATMs that dispense cash if you’re looking for a way to sell Bitcoin instantly and anonymously. Alternatively, if you do not have a wallet, you can create a paper wallet directly from any machine which your purchased Bitcoin will be sent to.
Peer-to-Peer Cryptocurrency Exchanges:
Peer-to-Peer exchanges connect you with traders of Bitcoin around the world. These are individuals that are also looking for a way to sell or buy the virtual asset. One of such is LocalBitcoins which requires registration with an email account before one proceeds. In this case, you can take advantage of an alias email.
Another factor to consider is that the platform requires your phone number and identity card details before you can trade above a certain range. Thus, if you’re unwilling to supply either of these, you can still send buy or sell Bitcoin even though with a certain level of restriction.
Like exchanges, there are apps like Mycelium local trader and Luno which you can check out. Mycelium displays a number of traders who have listed on the app to sell or buy Bitcoin. It uses your location to ascertain those closest to you and as such, you can find out a seller close by in order to meet up and transact. Whichever is the case, it is advisable to always meet in an open or public place to carry out such transactions.
The listed above, are only some of the few ways on how to buy Bitcoin without and ID. Even if you have one, there are cases where an exchange might reject it with claims that it does not meet their required standard. If that ever happens, there’s always something to fall back on.