Two of cryptocurrency’s fundamental principles are anonymity and independence from a central authority. Anonymity is still a major problem, though. Each user’s transaction is timestamped and visible to all on the blockchain. There are, however, methods to acquire and use Bitcoin (BTC) covertly. In fact, the first cryptocurrency can be purchased anonymously.
Bitcoin is not completely anonymous, despite popular belief. Once a transaction has been recorded on the blockchain, it can be easily traced. There are, however, ways to avoid this. Buying Bitcoin with cash is a simple method of avoiding detection. Paxful and Bitcoin ATMs are two examples of services that help users remain anonymous. Furthermore, some services, such as BitQuick, require little in the way of identification and may not even necessitate your real identity.
To conclude, in order to go completely “off the grid” and remain anonymous, users will require a variety of tools, including Tor and TAILS, among others. Anonymity usually has a price that is inconvenient to pay, and vice versa. The user can decide for themselves how much they are willing to sacrifice.
How to buy Bitcoin anonymously?
Paxful:
If privacy is a priority, purchasing bitcoins in person using cash is the best option. Using Paxful, you can locate a Bitcoin to cash exchange that is geographically close to you.
Users are free to use any email address they like when signing up for Paxful, and ID verification is completely voluntary. When dealing in cash, it’s much easier to stay under the radar since no paper trail is left behind.
Bitcoin ATMs:
One other method of buying Bitcoin anonymously is to use cash to buy Bitcoin from an ATM. Recently, crypto ATMs have gained a lot of attention. You can purchase one in the United States, among other places.
Users have the option of responding “I don’t have one” when prompted for a Bitcoin address at the ATM. It is more common for users to receive a brand new paper wallet. Afterward, the paper wallet’s private key can be imported into the digital wallet, and the Bitcoins sent to wherever the user chooses. Additionally, no identification is needed to use these ATMs. The maximum amount of Bitcoin that can be purchased, however, is fixed.
Prepaid Card:
One way people can keep their identities hidden while still making purchases is by making use of prepaid credit cards, which can be obtained from any supermarket or convenience store. Users can then use this card to purchase Bitcoins anonymously from individuals on exchanges like LocalBitcoins and Paxful.
Why Use Bitcoin anonymously?
All Bitcoin transactions are public, so each address associated with your identity reveals four pieces of information. To begin, the total amount of Bitcoins that were at one point stored at that address. When did you first start receiving Bitcoins? Which party gave them to you? A Bitcoin transfer address is the final piece of information.
Most people try to conceal their identities because they fear being hacked or singled out in some other way. Increasing their privacy will make it less likely that they will engage in such behavior.
ALSOREAD: How To Buy Bitgert?
Leave a Reply