When making an online transaction, several people like to stay anonymous for various reasons. And to achieve anonymity, they tend to use Bitcoin – a peer to peer, decentralized, digital currency.
It is often said about Bitcoin that it provides complete anonymity – which is not true. The Bitcoin transactions are not completely anonymous. They are made through Bitcoin exchanges. And the exchanges involved in a transaction may request you to provide your personal information, such as email address, a photo of yours, government ID, etc. and by using this information, they can trace and keep track of all your Bitcoin transactions.
(Learn about what are the top Bitcoin exchanges to trade coins)
To sort this out, we are going to discuss here some simple methods that will help you make anonymous transactions. Read carefully.
Stay Anonymous – Buy Bitcoin with Cash:
Wondering how to buy Bitcoin anonymously? Use cash! Yes, this is one of the simplest methods to buy Bitcoin anonymously. However, cash is not the only option – there are some other methods too, and we are going to discuss three of the most common ones here.
Buy Bitcoin Through ATM:
The ATMs give you complete anonymity to buy Bitcoin through cash. The machines don’t require any personal information or something else that a third party can trace. All you have to do is to go to your nearest ATM and make the transaction.
To buy the coins, all you have to do is enter your Bitcoin address and the number of coins you wish to buy. If you don’t have an address, just specify that you don’t have one and the machine will automatically generate a paper address for you.
Later on, using that address, you can import the private key and transfer your bitcoins to PayPal, or wherever you like.
Buy Through Local Bitcoin:
Another way to buy Bitcoin anonymously is Local Bitcoins. It’s a way of buying cryptocurrency through cash and in person. Through Local Bitcoins, you can find someone who is willing to sell bitcoins in exchange for cash in or near your area.
In order to use the service, you will need to sign up to their website. There is no documentation involved, so the process is completely untraceable.
Use Your Prepaid Card to Buy Bitcoin:
Prepaid credit card is another option to stay anonymous. The card is easily available at any supermarket or a convince store. Once you have the card, you can use it to buy the cryptocurrency without having to provide any personal information.
Some Methods That Are Just Partially Anonymous:
If you don’t have access to the above-mentioned methods, you can use the ones that are partially anonymous. These methods don’t require you to provide any ID. However, a phone number is still needed to enjoy the service.
Let’s take a look at some of them down below:
Wall of Coins:
A peer to peer Bitcoin exchange which only requires your phone number to use the service. Wall of coins currently operates only in Latvia, US, Argentina, Canada, Poland, Philippines, and Germany.
Acts like an escrow between a buyer and a seller. BitQuick takes the cryptocurrency from a seller and instructs the buyer to deposit cash into the seller’s account. Once the cash is deposited, the coins are released.
BitQuick also requires your phone number for its services.
These are some ways to trade Bitcoin with complete/partial anonymity. If you are looking to buy coins without being traced, it will solve most of your problems.
Basically, fintech ventures refer to specific computer programs and use of other related technology in order to support financial services in banking and other sectors. Since the end of the first decade of 21st century, fintech has expanded a lot, now it refers to many technological innovations in the financial sector e.g.; financial literacy education and various forms of crypto-currencies.
SFA and FAJ join Hands for Fintech
According to a joint press release, the Singapore Fintech Association (SFA) and the Fintech Association of Japan (FAJ) have decided to work together in order to bring improvements in fintech development. Both the countries signed a Memorandum of Understanding (MOU). The press release also states that this joint venture will probably raise the financial profile of the Japanese fintech companies as well as expand the business opportunities for Singapore in wider Asia.
Views of Chia Hock Lai about the MOU
Chia Hock Lai, the president of Singapore Fintech Association, said that this partnership will lead to fill the gap between the fintech communities of Japan and Singapore. Natalie Shiori Fleming, Vice Chairperson of the FAJ, also exclaimed his thoughts in this regard. According to him they are looking forward to increase interaction and cooperation level between respective markets of the two countries through a deeper relationship.
Japan’s Financial Services Agency (FSA) has also updated legislative rules and regulations in order to improve cooperation and interaction level between traditional banks and fintech companies. Same is the case with Monetary Association of Singapore (MAS) in case of fintech related innovations.
Reasons to Promote Fintech
An overview of the above details may arouse questions in your mind regarding fintech. First of all, what is the reason behind so much dependability and concentration on fintech?
Answer to this question in a single phrase is:
The financial industry is more than ever focused on technological innovation than it was at any other time.
All the major countries are become fintech dependent with the passage of time. At the moment, North America is leading fintech startups while Asia is following. A bird’s eye view of some of the most active areas of fintech innovation are as follows:
- Digital cash in the form of cryptocurrency.
- Blockchain technology, to maintain records with no central ledger.
- Computer based smart contracts.
- Cybersecurity and fintech are interlocked.
According to the modern day financial experts, fintech will have the same impact on future financial affairs as was of mobile phone and social media in case of communication era.
On Friday, Yahoo Japan confirmed that it has acquired a minority stake in a cryptocurrency exchange of Japan. According to Reuters, a subsidiary of Yahoo Japan, Z Corporation, has purchased a 40% stake in the Japanese crypto Exchange, “BitArg Exchange Tokyo,” which has the worth of almost $18.6 -$27 million. The exchange will be set to launch in the month of September, 2018.
Rumours of Acquisition
The rumours of the acquisition first came out in March; however, at that time they showed that the investment will be made by Yahoo Japan through YJFX, which is its forex transaction platform, and not through Z Corporation.
In a statement, Yahoo Japan said:
“By utilizing the service operation and security expertise of the Yahoo group, we support the operation of exchanges operated by BitArgo Exchange Tokyo.” Yahoo Japan also added that the exchange intends to offer services for customers that are secure and easy to use.
Japan is considered as an industry hub as it has above three million domestic crypto-traders. The news of Yahoo Japan’s investment showed up just after days when the financial regulator of the country ordered crypto exchanges; FSHO and Eternal Link, to stop operations due to inadequate KYC procedures. Similarly, another prominent acquisition happened this month – Monex Group announced that it struck a deal to acquire Coincheck exchange, as it went through a major hack at the beginning of this year.
After the Yahoo crypto news, Monex, which is known as a major Japanese online brokerage has confirmed its acquisition of Coincheck and was undeterred even with Coincheck getting lots of criticism for negligent-security procedures the whole year that led it to the mugging of $530 million of NEM tokens from its wallet.
Even with interruptions, SB, which is a Japanese banking giant is set to launch its own cryptocurrency exchange after firming up the security measures when the FSA is considering to ramp up its scrutiny of exchanges after the theft of Coincheck. Also, Messaging giant Line, that has a market cap of more than $9 billion and has almost 600 million registered users as well as 200 million monthly active users, has also filed an application with FSA in order to launch its own cryptocurrency exchange in Japan.
This brief guide teaches you how to use Tor-enabled internet browser on your iPhone device to put a stop to ad services, ISP, or cookies tracking your online activities.
Tor prevents these entities from tracking your use by encrypting the route to your iPhone’s IP address through different servers all across the world. This ultimately makes it virtually impossible for anyone to track your IP address without advanced knowledge or software.
Remember that there are several sites on Tor that do not show up during usual browsing. Some of the sites may contain harmful or illicit content. Visit them at your own discretion.
Steps Involved In Using Tor on iPhone:
- Go to App Store
- Tap Search
- In the search bar, type Tor
- Choose a Tor-enabled browser
- Tap Get
- Tap Install
- Open the Application
- Tap Connect to Tor
- Start browsing
Related: A beginner’s guide to Tor Browser