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.