If you’re getting ready to make your first Bitcoin purchase, you may already be a bit confused at the extensive choices involved. If you do any amount of reading, you probably know that just buying Bitcoin can be a bit overwhelming, and if you need to buy Bitcoin without ID, that can be even more complicated. Fortunately, there is a way to handle the transaction if you don’t have ID and this post can show you exactly how to do that.
First, a Note About Wallets
If you’ve never made a Bitcoin purchase before, the very first step you need to take is to create a wallet. In most cases, wallets are free, depending on the service you choose to use. There are basically two different kinds of wallets available. The first ones are called hot wallets, and these are wallets that are online. You access these wallets through a phone or your computer. They’re linked to the internet, and they make transactions fairly quick and easy. Most of them are free services, but because they’re continually linked to the internet, there is a risk of hacking. The other type of wallet is called a cold wallet, and these help to store your Bitcoin offline. These tend to be a little more costly, but they can also be safer because they store your Bitcoin well away from the internet. You access your Bitcoin through a USB stick or through a paper copy of your Bitcoin, and when you’re ready to make a transaction, you simply go online to do so.
How to Buy Bitcoin Anonymously – The Process
Once you know about the necessity of opening a wallet, you can actually begin the process of making your purchase. The first step is to find an exchange that allows you to buy Bitcoin without ID. There are plenty of options available. eToro will allow you to make your purchase very quickly, and it’s a great place for someone to get Bitcoins, but it can also be a fairly risky place. Coinbase is another option, and it’s a good choice because there’s a lot of liquidity on this exchange. There are even instant buy options if you have a debit card linked to your account. It is also possible here to buy Bitcoin with credit card. No verification is required in this setting. Coinmama is another great choice, as it offers the highest possible limit for buying if you’re trying to buy Bitcoin – no verification required. It works in almost every country, and it’s a reliable broker that has been around for some time.
There are other options as well if you wish to buy Bitcoin anonymously. LocalBitcoins, for example, is a bit like eBay for Bitcoins. It’s a peer-to-peer marketplace that is incredibly private. Buyers and sellers create offers on this site, and then they agree to prices and the terms of the trade before it actually takes place. This means it is possible to buy Bitcoin without ID should you choose to make a cash deposit or just meet the person and trade cas.
Bitquick is another way to buy Bitcoins with no ID and cash, as it allows you to buy Bitcoin with cash at a number of different banks, but most of them are not located in the UK. In this setting, users agree on the price of a trade, and the seller hands over the Bitcoins to BitQuick, which acts as an escrow in this whole process. The buyer deposits the cash into the seller’s account, and once the seller confirms payment, BitQuick releases the coins.
Wall of Coins is another option if you want to buy Bitcoins with no ID. It’s currently available in many countries, including the UK. You will need a phone number, but no actual ID is necessary on this option. Bitit.gift is one of the few options that is only available in Europe. Here you can buy Bitcoin online with a 3d Secure credit or debit card. This is one place where you can buy Bitcoin with credit card – no verification required. It takes next to no time, and you can buy 25 euros of Bitcoin with absolutely no ID verification, though you will have to hand over some personal details like name, birthday, country, city, and address.
Another great option is using a Bitcoin ATM. These are a bit like regular ATMS, but instead of cash, you get Bitcoins in your virtual wallet when you feed the machine cash. While different ATMS require different things (because so many different companies make Bitcoin ATMS), most require no ID verification. There are a number of web maps available to help you find the nearest Bitcoin ATM, and these days, there are thousands of options available on a worldwide basis, but most are located in major cities. Keep in mind that while these are one of the most convenient ways to buy Bitcoin, there are some drawbacks. There are fairly high fees, but they’re almost completely private. More than that, though, they can be hard to get to, and the process itself can take some time to complete.
Exercise Caution
Should you choose one of the many options that allows you to buy Bitcoin without an ID, be careful, especially if you choose to use a peer-to-peer marketplace format. Fraud is rampant in these exchanges, and you want to select a seller you can trust to actually deliver the Bitcoin you ordered. Buying Bitcoin isn’t like buying anything else in the world. Once transactions are made, they can’t simply be reversed, so you have to be able to trust the individual selling you the Bitcoin and make sure you’re going to get what you paid for before the transaction takes place.
Trading Bitcoin Without ID
Once you’ve made a purchase, you may want to do some trading on a Bitcoin exchange. This, too, is possible, even if you don’t have an ID. BitFinex, for example, will allow you to trade with no verification, but only if you start your account with a cryptocurrency deposit.
Many of the same exchanges that allowed you to buy Bitcoin without ID also offer the option to either trade it or resell it to others with very little ID verification required. For example, Localbitcoins, listed above, is a great way to trade and exchange without ID. Based in Finland, this service even has dispute resolution services built in, so not only is it a great place to buy, it’s a great place to come back to, support, and make all of the trades you want. You just have to advertise that you’re ready to sell and wait for a buyer to make an offer.
Bitsquare is another choice. It’s a decentralised exchange that was founded in 2014. There is no central point for this option, and absolutely no identification is required. It is a desktop application, and you can advertise what you have for sale. Streamlined over Tor, communication allows you to remain wholly anonymous with this platform.
No ID is no problem when you want to get into the world of Bitcoin. While you may have to do a bit of research to find a platform that will support your commitment to remaining anonymous, it is more possible than ever, something that is likely to stay the same well into the future of Bitcoin.