Have you ever wondered how you can purchase bitcoins without revealing your identity? If you have, we will explain to you how to buy bitcoin anonymously. You may be worried about your privacy which is perfectly okay and maybe, you don’t want the authorities to know how much you have spent on your bitcoin purchase.
The good thing is that since bitcoins are decentralized and there are no governments or banks controlling its activities, it is possible to buy them anonymously.
Is Buying Through an Exchange a Good Option?
If this is the first time you have decided to invest in something like bitcoin, then an exchange could be the first place you can start with. They have a simple process for the buying process. All that you are required to do is sign up with them. Then verify your details, fund your account and make your purchase. But the problem is that exchanges doesn’t help you maintain your anonymity.
You will have to reveal your details when you complete your KYC verification process. You will also be required your submit your essential government issued documents such as your ID cards, etc.
So What Options are you Left With?
There are still a number of options you have when it comes to buying bitcoins and at the same time remaining anonymous. Lets take a look.
When you buy bitcoins in person, you will be able to maintain your anonymity. There are a number of platforms which have been established to give information on the local buyers and how you can go about contacting them.
However, you must keep in mind that your safety should be your priority when you are dealing with strangers through the platform. You must take precautions and avoid deals which do not feel right. You must protect your privacy and at the same time ensure your safety when looking to buy bitcoins in person.
Another method of buying bitcoins anonymously is through the internet. There are platforms which help facilitate bitcoin transactions in a simple and hassle free manner. Purchases can be done using wire transfer or any supported eWallet options. Once you have made the payment, the seller will transfer the bitcoins to your bitcoin wallet. When buying bitcoins online, you don’t have to reveal your identity and no one will ever know how much in bitcoins you actually own.
Another great place to buy bitcoins completely anonymously is through a bitcoin ATM. There are thousands of ATMs situated all over the world which enable investors to purchase and sell bitcoins.
If you are a first time user, you can look for an ATM which accepts fiat currency in exchange for bitcoins. You can simply put in cash and collect your bitcoins. While the process is relatively simple and similar to how you would use a traditional ATM, the downside is that you will have to carry a lot of cash to be able to make a bitcoin purchase. Also, you must make sure that you are not being stalked or followed.
Why is anonymity important?
Anonymity can give you the peace of mind especially when you are making high value purchases. Remember, bitcoins are decentralized and there are no governments or banks that regulate its processes. But the government does scrutinize bitcoin related purchases which you must be cautious of.
Also, if you are buying bitcoins without ensuring anonymity, you might attract unwarranted attention. Put simply, you may expose yourself to risks such as frauds and thefts. So remaining anonymous while buying bitcoins gives you the much needed protection.