I don’t like going through ID verifications to purchase Bitcoin cryptocurrency.
And obviously you do too… that’s why you are here today.
Anonymous Bitcoin purchase is possible, but the entire process is not all that beginner friendly somehow.
I figured that the most difficult problem beginner investors face with cryptocurrency, is how to buy Bitcoin without being scammed.
Yet another problem for investors’ how to purchase Bitcoin anonymously, without having the need to go through ID verifications.
Despite its reputation, Bitcoin is not completely anonymous, as every transaction is publicly disclosed on the Blockchain and identity verifications are required by exchanges.
There are methods to buy Bitcoin anonymously with cash such as LocalBitcoins or Bitcoin ATMs. Furthermore, there are places that require minimal identification though.
This post will guide you through everything about how to buy your first Bitcoin cryptocurrency with no verification. And along the line, you will see places to buy Bitcoin safely.
Before we start with how to anonymously buy Bitcoin, I would like you to know one thing in particular about the whole process.
Buying Bitcoin, it’s more like stock. In stock market normally, your money need to be transferred from a bank account to a brokerage company.
Now, through the brokerage account you created, you can then purchase, invest or manage your stock investments. When you want, you can also pull the money back into your bank account.
However, buying cryptocurrency follows the same idea as well, but the only difference from that of stock, is the terminologies used as language in the crypto world and communities.
How to purchase Bitcoin anonymously
Let me dive straight through the steps on how to purchase Bitcoin anonymously, or even have your Bitcoin wallet account funded with no ID verification.
Below are all the steps required to buy Bitcoin with no ID instantly:
Step 1: Find an exchange
An exchange is the same as a brokerage, and signing up for a crypto exchange account is also the same as that of brokerage account creation.
The only difference sometimes, is that you may not be required to verify your identity on exchange platforms, before your account can be fully activated.
If you are looking for the best platform, I would suggest you make use of a P2P (i.e. Peer-to-Peer) marketplace to buy any amount of BTC without identity verifications.
Step 2: Purchase Bitcoin Cryptocurrency
As soon as you’ve already gotten the investment capital on the exchange platform, you will decide on percentage you will use to acquire bitcoins.
Mind you that cryptocurrencies are ordered separately for each one, so you need to buy coins according to allocations.
Once after purchasing your desired cryptocurrencies, take a moment to celebrate – YOU’RE OFFICIALLY AN INVESTOR!
And that beings us altogether to the next step you will need to take immediately to secure your cryptocurrency asset.
Step 3: Transfer BTC to secured wallet
Now you will need to fully secure your Bitcoin and Altcoins (alternate crypto-coins) investment, because leaving crypto investments on exchanges can be very risky.
Necessarily, you always use wallets to keep your fiat money and that’s exactly where cryptocurrency is kind of similar to traditional fiat currencies.
You need a good cryptocurrency wallet to fully secure your Bitcoin investment. However, because anonymity is your main priority, it is recommended that you use an anonymous wallet.
In the crypto world you need a secure crypto wallet to hold your Bitcoin, and hardware wallets are the best due to its functionality and security.
One of the best and most trusted USB wallets in the market currently, is the Ledger Nano wallets. It is popularly known for its high security and anonymity.
Where to buy Bitcoin no ID verification
I have made a list of few reliable crypto exchanges where you can buy BTC anonymously, so let’s take a look at the list below…
LocalBitcoins
LocalBitcoins is a P2P (i.e. Person-to-Person) cryptocurrency marketplace, similar to eBay store. Read my comprehensive review on the LocalBitcoins marketplace.
Buyers and sellers create offers, with agreement on a price and terms, before a transaction can be made, while the platform serves as an escrow.
It’s possible to buy BTC with no ID, either by purchasing BTC with cash deposit, or meet in person to buy Bitcoin crypto with cash.
LocalBitcoins is available anywhere there is a willing seller and buyer in the whole world.
Pros
- Available in every country of the world
- A diverse selection of buyers and sellers
- Supports many payment methods
- Buyers get their bitcoins fast
- Private.
Cons
- Lack of cryptocurrency diversity
- Both sellers and buyers have a chance of being scammed.
LocalCryptos
This platform is very similar to LocalBitcoins, however, this is a non-custodial P2P marketplace. LocalCryptos is a P2P (Peer-to-Peer) marketplace, where people exchange crypto with each other.
On LC, people buy and sell Bitcoin, Ethereum, Litecoin, Dash and USDT crypto on their terms, using any payment method. There are more than 40 payment methods accepted.
Unlike other P2P marketplaces, LocalCryptos keeps you in charge (i.e. you are totally in charge of your cryptocurrency investment).
LocalCryptos takes a different approach. They cut a platform risk by putting you in control of your wallet keys. When trading, only you know your private key – they never take custody of your coins.
Pros
- Highly secured
- Supports multiple coins
- You’re in custody of your keys
- Buyers get their crypto-coins fast
- Supports several payment methods
- Available in every country of the world.
Cons
- Limited number of cryptos
- Both buyers and sellers can be scammed.
CoinSwitch
Using CoinSwitch exchange aggregator, you can buy Bitcoin cryptocurrency with no ID, but that is because you need to have Altcoins already, before you can anonymously exchange them for Bitcoin.
If you already have a token like Litecoin or Ethereum, then you can buy Bitcoin in seconds with no ID verification and account required.
Paxful
Paxful is yet another P2P (Person-to-Person) marketplace that supports, well over 300 payment methods. Just like LocalBitcoins, it also serves as an escrow.
Paxful cryptocurrency platform gives vendors the ability to create offers in all currencies.
Pros
- Escrow system
- Security
- Diverse payment methods
- Simple user interface (UI)
- Wide variety of sellers.
Cons
- Buyers and sellers are at risk of being scammed.
Bitcoin ATM
Bitcoin ATMs are similar to regular ATMs, but instead of spitting out local currency, like Dollars, Euros etc., BTM (i.e. Bitcoin Automated Machine) delivers BTC to your wallet upon the insertion of cash.
There are different types of Bitcoin ATMs made by a variety of companies. Most, however, require no verification whatsoever to buy Bitcoin anonymously.
But how can you know if there is a Bitcoin ATM near you?
Good question: There is a Bitcoin ATM map that will show you how to find a Bitcoin ATM near you.
Before buying Bitcoin cryptocurrency from a BTM, know this:
Bitcoin ATMs are private, but there are some downsides. Bitcoin machines generally sell BTC at a mark-up of 5-10%, and it’s the price to pay for the privacy these ATMs provide.
FAQ
Below are the frequently asked questions that am going to provide answers to below…
Is it legal to buy BTC anonymously?
Crypto exchange that wants to get a working license and register in the United States has to be compliant with the US regulations.
This means respecting the Anti Money Laundering (AML), and the Know Your Customer (KYC) policies, and that’s why the only way to buy BTC anonymously is using foreign platforms.
Why buy Bitcoin with no verification?
Unless they have some illegal intentions in mind, most people just want to skip the verification process, because they’re in a hurry or lack all the necessary documents.
Another reason is that, the KYC (i.e. Know your Customer) ID verification wait time can even extend to two or three weeks!
While most people don’t like the thought of having to share sensitive information with online platforms and complain at the lack of security some of them have.
How do I buy Bitcoins without OTP?
The only way to buy Bitcoin online without OTP (i.e. One-Time Password) verification is to swap another cryptocurrency (Altcoin) for Bitcoins, which CoinSwitch is the best platform for this strategy.
Can I leave Bitcoin on an exchange?
No you shouldn’t be leaving your cryptocurrency investment on an exchange as you will be risking loosing all of them at an instance.
Try to create a Bitcoin wallet account, so you can always keep your Bitcoins away from crypto scams and theft due to exchange hack.
In conclusion
It is also important to use a VPN (Virtual Private Network) just in case you would also like to anonymize your Bitcoin crypto transaction foot-prints.
I mostly recommend getting a crypto hardware wallet if you have enough funds to invest in buying good offline HD-wallet to keep your investments safe.
If you would want to be totally anonymous with Bitcoin transactions from wallet-to-wallet, you can invest in BitLox anonymous Bitcoin wallets.
Without using anonymizing tools, Bitcoin and other cryptocurrencies are in many ways, easier to trace than cash transactions, but to anonymize your Bitcoin purchases is a tricky business.
I hope this guide helps you in a bigger way to buy your first Bitcoin investment anonymously. Good luck my friend.
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