Bitcoin

4 hand-picked ways to buy bitcoin without ID | finder.com

as lawmakers in the us. uu. and around the world they gradually introduce stricter regulations on cryptocurrency trading, it becomes more difficult to buy cryptocurrency without identification.

However, if you don’t have proper proof of identification or if you simply value your privacy, there are still some sites where you can buy crypto without completing a verification process.

Reading: Bitcoin without id

read on to find out how.

buy bitcoin without ID verification on these exchanges

compare cryptocurrency exchanges by fees, fiat currencies, and deposit methods to find the one that best suits your needs. click go to site to get started.

some exchanges have different thresholds for verification requirements. for example:

  • localbitcoins allows you to buy bitcoins without verifying ID, but only up to 1000 euros or its equivalent per year. does not allow you to sell bitcoins without verifying identity.
  • paxful does not require ID verification for account creation, but does require verification for accounts that reach the equivalent of USD 1,500 in trading volume or wallet activity.
  • kucoin offers crypto-to-crypto trading, but neither requires an ID for trading and both offer withdrawal limits of 2 btc per 24 hours without verification.

three ways to buy bitcoins anonymously

If you want to buy bitcoin without ID verification, there are only a few options to choose from:

why is it difficult to buy bitcoin without identification?

See also: How-To: Building a Well-Balanced Crypto Portfolio

There is a widespread misconception that cryptocurrencies are easy to buy anonymously, but this is simply not true for a couple of reasons:

greater regulation

Regulators around the world are gradually introducing legislation governing digital currency exchanges and the buying and selling of cryptocurrencies. although ee uu. It’s still a fairly unregulated country when it comes to cryptocurrencies, US-based exchanges. uu. they often require identity verification so they can operate globally.

bitcoin is pseudonymous, not anonymous

Because it is possible for bitcoin users to send and receive btc to each other without providing proof of identification, the currency is sometimes described as anonymous. however, a more accurate way to refer to bitcoin is as a pseudonymous currency.

A commonly repeated comparison compares bitcoin transactions to an author writing under a pseudonym: if their true identity is ever discovered, everything they wrote while using the pseudonym can be directly linked to them.

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Your bitcoin address is like an author’s pseudonym, and every btc transaction you make is stored for eternity in a public ledger known as a blockchain. So, if your bitcoin address is ever linked to your identity (something cybersecurity researchers say is fairly easy to do), all of your transactions could be traced back to you.

why would people want to buy bitcoins without identification?

In the court of public opinion, there is a widespread belief that the main reason someone might want to buy bitcoin anonymously is so they can pay for all manner of illicit goods and services in the hidden corners of the dark web. .

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See also: 1 BTC to INR: Bitcoin Price in India, Will Bitcoin Price INR become 50L?

But while there is definitely some truth to this idea (after all, anyone involved in illegal activity would have good reason to want to cover their tracks), there are also plenty of legitimate reasons why someone might want to buy bitcoin or something else. cryptography. without any identification.

for example:

  • if you are concerned about hackers targeting cryptocurrency exchanges and stealing your personal information (including your driver’s license/passport details).
  • if you own a lot of cryptocurrency and no I don’t want to be targeted by thieves.
  • if you don’t trust the government.
  • if you don’t have any ID (estimated 1 billion people worldwide no no has proof of identity).

Finally, there’s also the simple fact that the identity verification process on some platforms can be frustratingly slow, especially at times of peak demand. If you want to buy crypto as quickly as possible to take advantage of an anticipated price change before it happens, buying without identity verification might be a faster option.

more ways to protect your privacy

If privacy is important to you, there are several steps you can take to protect your identity when sending and receiving cryptocurrency. these include:

  • using a new address for each transaction. Using a new address for each crypto transaction is an easy way to prevent separate transactions from being linked to you as the common owner. hierarchical deterministic (hd) wallets like ledger nano s allow you to generate a new address every time you receive bitcoins.
  • using multiple wallets. another option to increase your anonymity when transacting cryptocurrencies is to open and maintain multiple wallets.
  • use a blending service. bitcoin blending services are based on in a data anonymization method. known as coinjoin, which basically mixes payments from multiple users into a single transaction. this is designed to make it much more difficult for prying eyes to determine who sent money to whom.
  • hide your ip address. your ip address is a unique address for your computer that reveals where you are connecting to the internet. To prevent it from being linked to your cryptocurrency wallet’s transaction address, you may want to consider ways to hide your IP, such as using a VPN service or encrypting and redirecting your internet traffic through a service like Tor.
  • using a dedicated privacy coin. currencies like monero and bytecoin have built-in privacy features designed to provide anonymous transactions.
  • take simple privacy precautions. Please keep your footprint in mind when using the cryptocurrency purchase methods listed above on this page. for example, avoid giving someone your phone number when paying bitcoin cash at a local exchange.

pros and cons of buying bitcoins without identification

end result

Whatever your reason for wanting to buy crypto without ID, there are several options available. however, each of those methods carries a varying level of risk and its own pros and cons, and you’ll usually have to pay an additional premium to get the privacy you want. be sure to research all of your options before deciding on the safest approach.

compare exchanges that do not require identification

frequently asked questions

Disclosure: As of October 2018, the author owns ada, icx, iota, powr, and xlm.

See also: Crypto Mining Rigs & Bitcoin Mining Rigs Explained | Gemini

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