Oftentimes, when you attempt to purchase Bitcoin, you may find that it is difficult to do so without an ID. You may not have an ID or you may want to protect your identity and purchase Bitcoin anonymously. If this is the case, there are some approaches you may be able to use.
The Advantages of Being Anonymous
Whenever you make a financial transaction online, there is a risk that your money will be stolen. However, if you make a financial transaction using Bitcoin in an anonymous way, you are much less likely to be hacked. You're more likely to be protected from issues such as counterfeiting and fraud.
Bitcoin Is Not Fully Anonymous
Bitcoin transactions are stored on the blockchain. However, while Bitcoin transactions are not anonymous, your transactions will be more private than if you were to use a credit card to make a payment. While each transaction is public and can be seen by anyone, the transactions cannot be traced to a single person. Therefore, the actual sending of Bitcoin is anonymous.
Depending on the ATM, you may be able to purchase Bitcoin anonymously. When you are not allowed to purchase Bitcoin anonymously, you may be instructed to show a photo ID in front of a camera. If the photo ID is not accepted, you may be prevented from purchasing Bitcoin.
More Anonymous Options
The more anonymous you want to be, the more challenging the process. For example, you may need to use a virtual private network (VPN). If you will be purchasing your Bitcoin with a credit card or debit card, your transaction might be traced back to you. However, if you use a prepaid debit card, you may then be able to use the credit card to purchase Bitcoin anonymously.
Services That Allow Anonymous Bitcoin Transactions
There are various services that offer different levels of privacy. For example, there are Bitcoin services that allow you to purchase using a mobile phone. Other services allow for transactions to be made peer-to-peer and you will then need to send money to another party using a method that the party agrees to, such as by sending a money order.
How to Send and Receive Bitcoin
You are allowed to generate an unlimited number of addresses from your wallet. Therefore, you will want to generate a new address every time you send or receive Bitcoin to maximize your anonymity. Look into where you can buy Bitcoin in your area.Share