Where To Buy Bitcoin With Prepaid Card

Privacy matters, it is a key human right, and once yous go downwardly the Bitcoin rabbit hole, you lot realize how of import information technology is to sacrifice a footling convenience for better protection of your wealth and identity.

This article volition guide you through the best practices and tools to buy BTC anonymously while developing a example for more than privacy and security through documentation of emblematic events and the importance of protecting personal data.

To facilitate the path to more anonymity, we’ve structured this article into 3 singled-out sections:

This guide has a shared focus on privacy and security, as the 2 go mitt in manus. If you lot are a victim of a KYC info hack, y’all will rely on your security setup to keep your Bitcoin secure.

Although the advice provided in this article is well researched and well founded. We enquire that you take the information independent therein as guidance and not as a directive. Nothing that we tin can write can ever exist a substitute to doing your own enquiry.

Section one: Why does privacy matter?

With the advent of the internet, our privacy has faced profound challenges since our personal information is frequently at the mercy of malicious actors. It is our duty, and in our involvement, to make sure that nosotros take all available steps to protect our data.

Y’all don’t demand to live under an authoritarian government to risk being persecuted, distressed by the taxation authority, or suffering wealth confiscation. Know your customer (KYC) and anti-money laundering (AML) regulations transcend the nature of a authorities when our data is stored in online databases that are constantly exposed to hackers.

Databases accept been and will be hacked, allowing organized criminal offence to steal our information. Identity appropriation, credit carte cloning, and bank details theft are just a few risks we constantly encounter. Another reason to avoid KYC-compliant platforms is that they could exist in a position to have to reveal personal information to authorities in certain circumstances, such as in the example of the Celsius bankruptcy filing.

When you lot own a unique nugget like Bitcoin and expose your data, you risk compromising your wealth, which might mean everything to you and your family. Furthermore, the data tin can be cross-referenced with other hacked databases (such every bit Facebook or Linkedin) to create a complete profile of a potential victim (email, name, address, BTC, etc.).

The yet short history of the cryptocurrency manufacture has uncovered many hacks, fifty-fifty breaching companies’ systems that claimed to be extremely rubber.

So, you should assume that no exchange or platform is secure plenty, and have full responsibility for adopting the proper measures to protect your wealth. Nobody else will do information technology for you if you don’t exercise it.

Buying Bitcoin anonymously is less frightening and crushing than you might think, and it’s completely legitimate other than your primal right. If you recollect you lot’re breaking the law or doing something unethical, you could not be farther away from the truth.

Is Bitcoin bearding?

No, Bitcoin is not anonymous, but it profoundly depends on your use. While Bitcoin represents monetary freedom, it’s besides an open ledger, significant that all transactions verified and added to the blockchain are visible to anybody.

The ledger doesn’t comprise any owner’s data, such every bit a name and address. Even so, an increasing number of analytics companies are running their own nodes in an attempt to capture data such as your IP address. From there, the road to identifying you is short.

Bitcoin therefore is proving very advantageous to law enforcement, which tin be a good matter when capturing bad actors or recovering stolen Bitcoin, similar in the instance of the Bitfinex hackers. However, with the justification that authorities need to tackle money laundering, terrorism, and illicit operations, such a surveillant organisation may bear on the smaller genuine retail investor heavily.

Bitcoin privacy is increasing via upgrades such every bit Taproot, Taro, and ZK-Snarks. While Bitcoin is becoming more private, the onus remains on individuals to keep their coins safe and private by avoiding KYC and AML procedures.

What are KYC & AML

Know Your Customer or KYC is but identity verification of a client carried out by a fiscal institution to comply with government regulations. It may vary depending on the jurisdiction; however, near identification methods are similar across the lath, and these include:

  • A valid ID carte du jour;
  • name;
  • email address;
  • phone number;
  • utility bills to bear witness a dwelling house address.

Traders must take exchanges’ stricter KYC procedures if they desire to transact higher volumes. Such procedures include:

  • A user’s photo;
  • a selfie belongings a slice of paper displaying further information;
  • a video where you follow basic instructions to provide a 3d view of your head.

Major crypto exchanges adopt to remain anti-money laundering (AML) compliant equally it helps them avoid being liable when a user gets away with committing a law-breaking considering they failed to do due diligence.

The information you provide to buy KYC’d Bitcoin may be used in the following ways:

  • to trace your transactions and balances through Chainanalysis;
  • identify the wallet you engage and transact with;
  • monitor how you buy Bitcoin;
  • block yous from using regulated services similar in Canada;
  • to confiscate your Bitcoin and brand taxation claims against you.

KYC is part of a more comprehensive regulatory measure out identified as anti-money laundering (AML) to make information technology more difficult for a criminal or terrorist organization to hide its illicit activities.

However, such regulations defeat the purpose of Bitcoin because they preclude 1 of the fundamental concepts of cryptocurrency: decentralization.

By providing your data to a centralized entity like an exchange, the pursuit of decentralization and anonymity recedes while the security of your nugget is at risk. Even though most cryptocurrency exchanges pledge to provide maximum protection through robust military-way standards, you should never assume they are flawless, and your data may be leaked.

Furthermore, you fall casualty to analysis companies that could exist in a position to supply your data to tertiary parties and governments.

Is it possible to un-KYC yourself?

Once yous submit KYC data, this remains on official record forever and cannot be removed. There are ways to mitigate the impact of such compliance, such as emptying your record by selling your Bitcoin and repurchasing information technology with no verification to starting time afresh.

However, this will trigger a taxable event if you sell for a profit unless you live in a Bitcoin-friendly jurisdiction that doesn’t revenue enhancement crypto holdings. You can also take that your existing Bitcoin is KYC’d and move on, knowing that in the future, you can buy information technology in a KYC-free way.

If yous want to sell your Bitcoin and repurchase information technology anonymously, please keep reading to learn how you tin avoid KYC.

Often Asked Questions

1. How can I buy Bitcoin without verification?

In-person using cash, decentralized peer-to-peer exchanges, and selected ATMs are all good means to purchase Bitcoin without verification. This guide will assistance you find the most suitable ways to exercise it.

2. Can I buy Bitcoin with a debit card with no verification?

Debit Cards are typically an extension of your bank account, which would be fully compliant with KYC. It is possible to add a few actress layers of obfuscation through coin transfer services which you can read about below.

Pre-paid or virtual debit cards for online purchases offer softer verification requirements than a typical bank card. However, they are never entirely anonymous since they are reloadable.

three. Tin can I purchase Bitcoin with a credit card with no verification?

Similar to debit cards, soft-KYC pre-paid and virtual credit card options exist. Many payment circuits like Visa and Mastercard offer prepaid credit carte payments through automated services like Ezzocard or Blur.

4. Is Bitcoin more traceable than cash?

Yes. Bitcoin is more than traceable than cash. As well appearing in an open ledger available for everyone to see, Bitcoin addresses are “pseudonymous,” meaning they don’t automatically reveal their owner’s identity. If it is used on an exchange that implements KYC, information technology may be easily linked to a real-globe identity depriving privacy.

5. How can Bitcoin be tracked?

Unlike mutual conventionalities, Bitcoin transactions are highly traceable because they are stored in a public, transparent blockchain, a distributed ledger visible to anybody. Block explorers that track every blockchain transaction are becoming increasingly sophisticated, making Bitcoin addresses, block numbers, and transaction hashes easier to trace.

When coupled with wallet explorers, such tools brand information technology possible to draw connections between addresses and the wallets used to hold Bitcoin.

Section 2: Steps to protect your privacy

Buying Bitcoin anonymously can be challenging, just it’south possible if nosotros buy with cash in person or through a KYC-free ATM. We can also choose KYC-free or soft-KYC exchanges, peculiarly if they back up mixers –we’ll get through more on this afterward.

Unfortunately, the convenience of buying Bitcoin through centralized KYC-compliant exchanges and Fintech comes with a price, and that’s your privacy. However, if you are ready to merchandise convenience for more than privacy, in that location are ways to go virtually information technology, and nosotros’ll go through what they are.

Such methods shouldn’t exist intimidating and only require some of your time to dig down some privacy and security steps, from online protection to transaction safe. You won’t need to utilize all the options detailed beneath, but adopting some of them will go a long manner to requite you more than peace of mind.

It goes without saying that few things in life are unassailable. Whatever number of the following solutions can be compromised in the future, so best exercise would be to understand what each option solves and to combine those that make most sense to keep your identity private.

A guiding principle

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If you want to keep your coins individual, the first step is to never reveal to people that you lot ain Bitcoin, especially how much you lot hold, as this will brand you a target for malicious actors.

Connecting to the net

Employ a dedicated computer or phone

You lot should always assume your Bitcoin is at risk online and could exist compromised by hackers who could exploit vulnerabilities. Y’all must prevent these vulnerabilities and avoid mixing your general internet utilise with your Bitcoin wallets and activities.

We ever remember we are smarter than hackers, but scams, primarily through phishing, get increasingly sophisticated, and then it’s improve to provide max privacy and security to avoid all chances. A Bitcoin-simply defended machine is the best way to avoid being tricked into scams using malicious websites and programs.

When choosing your Bitcoin-dedicated motorcar, information technology would be helpful to go along the following communication in mind:

  • The worst operating arrangement is Windows because its security is notoriously weak and more exposed to keyloggers, viruses, etc.;
  • Information technology’s improve to apply either IOS or Linux every bit their security standards are better than windows;
  • The best OS is TAILS (The Amnesic Incognito Live Organisation), a security-focused Linux distribution of free and open software that connects to the Internet exclusively through the anonymity network Tor.
  • Bonus: Encrypt your computer and/or telephone with PGP encryption to increase security so that any sensitive information that you may or may not hold on these devices cannot exist recovered by anyone without the key that you privately agree.

Web browsers

While Chrome is by far the most popular browser in the world, there are alternative browsers that are more than respectful of privacy. In 2020, Mozilla emulated a 2009-2011 study from security expert Dr. Lukasz Olejnik using 52,000 Firefox users. Mozilla’southward report confirmed Olejnik’s earlier findings that companies such as Google and Facebook are able to rails people based on their browsing histories using a method known every bit re-identification.

Absolutely, it’s unlikely that this is a risk that volition bear upon too many people. Withal, using an alternative browser to Chrome is a simple solution.

  • Tor Browser is a favorite of Edward Snowden. Tor sets the standard for avoiding fingerprinting. It prevents unauthorized snooping with the aid of its hidden relay servers and encrypts your traffic 3 times for three unlike decentralized nodes.
  • Mozilla Firefox is quite secure. It offers a private browsing mode, including pop-up blocking, malware and phishing protection, and tracking. It has also borrowed Tor techniques to block browser fingerprinting.
  • Ballsy is a powerful privacy-axial spider web browser that uses DuckDuckGo as its default search engine. Its mission is to deliver “extreme privacy” and does so by blocking cookies, ads, and data-tracking spider web analytics systems. It also doesn’t allow plugins, doesn’t use auto-suggest or spell-checks, or other such enhancements.
  • Brave is a free and open-source Chromium-based spider web browser that claims to exist blocking ads, fingerprinting, scripts, and advertisement trackers by default. Even so, it has been reported to be misusing affiliate links for profit, as well actually storing your information if you opt for their rewards program. By being rewarded, you are actually selling your data to them.
  • Impervious.ai is a newly released Peer-to-Peer web browser that uses Decentralized Identifiers (DIDs) to allow users to cryptographically control their identity and designate how they’d similar to exchange data online. They promote encrypted messaging, video calls, and document sharing. It utilizes both peer relays and the Bitcoin Lightning Network to establish existent-time, cryptographically-secure data manual channels.

Bonus tip: Resist the urge to install browser plugins on these browsers, every bit they invariably reduce your privacy.

Block web trackers

Web tracking websites collect, store and share information about visitors’ online activities. Potentially a web tracker could link ii purchases belonging to the same user to the Bitcoin blockchain’southward transactions, thereby identifying an entire cluster of addresses and transactions.

Blocking spider web trackers is possible through the following providers, which are a great way of navigating online more than securely and privately.

  • uBlock Origin, a free and open-source browser extension for content filtering, including ad-blocking;
  • Adblock Plus, a software that blocks and filters ads;
  • Ghostery is a gratuitous, open-source privacy and security-related browser extension and mobile awarding.

Employ a VPN

Virtual private networks (VPNs) are services that protect your internet connection and privacy online. They typically create encrypted tunnels for your data, protect your online identity by hiding your IP accost, and let you lot to use public Wi-Fi hotspots safely.

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Some prominent VPN services are NordVPN, Proton, and ExpressVPN. It’s enough to subscribe to their services to enjoy more privacy online. Costs are usually between $3.99 and $6.99 per month.

Use TOR

The onion router (TOR) is a globally distributed network of individual volunteer servers used to ensure anonymous communication. Its decentralization makes information technology hard to discover its encrypted connections.

The departure with a VPN is their functioning method. While TOR encrypts and makes your online traffic private through a decentralized network, VPN encrypts and routes your connectedness using a network of servers maintained past a centralized entity.

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They both enhance your online security and privacy; however, TOR is similar to Bitcoin by not having a single point of failure, while VPN has all the characteristics of a centralized entity. TOR’s decentralization volition exist more effective if more people run their own TOR node; therefore, likewise running your Bitcoin node, it would exist beneficial for the system to run your own TOR node too.

Run a full node

Running your own node protects your Bitcoin wallet from disclosing data about your transactions. Y’all might wonder why since your Bitcoin wallet should be private, particularly a non-custodial one.

Random public nodes verify your Bitcoin transactions if you don’t run your own node. A random node operator could be a surveillance company that could access your IP address (that can be used to place you) and all of your Bitcoin wallet residue, exposing information technology to governments or hackers’ potential interference if information technology gets leaked.

It and then becomes clear why running your ain node will protect you from third parties, like cake explorers, that could leak your data. As computer scientist Nick Szabo defined them, such “trusted tertiary parties are security holes” that should exist removed for more than privacy and security by running your own node.

A node run through TOR, a VPN, or both in tandem, attains further enhanced protection. Therefore, using them is highly recommended.

Setting upwards your own node is relatively simple and beneficial to the overall network robustness.

Here are a few options bachelor to run your ain node securely:

  • Bitcoin core is the open up-source software that connects a user to the Bitcoin peer-to-peer network to download and fully validate blocks and transactions;
  • DIY options give y’all the maximum self-sovereign Bitcoin you could ever have. Running your DIY node can be accomplished with a few hundred dollars of hardware and will offer you that ultimate privacy and security you lot deserve as a Bitcoin enthusiast. Raspiblitz, Start9, Umbrel, and Voltage are a few node providers that yous can apply for your DIY node;
  • Plug n Play any of the node providers listed above, including Nodl, RaspiBlitz, and The Bitcoin Automobile, and y’all’re ready to go. All you have to do is acquire the relevant hardware and plug information technology in, and it really is that simple. Y’all are only two steps away from your best privacy and security practices.

No matter which method or hardware you lot choose to run your ain node, we can never stress plenty how important it is to undertake this procedure. Verifying your own balance and transactions, other than contributing to the expansion and security of the Bitcoin network, volition accrue the sense of freedom and self-sovereign Bitcoin was created for.

Registering on platforms

Avoid services that require you to register with your easily identifiable KYC data, similar your proper name, address, email, and telephone number.

Featherbed email verification

It is possible to register an anonymous email address, non tied to your personal information and is preferably dedicated to the process of buying Bitcoin only. This volition terminate you from being exposed to other users, possible phishing emails, and, overall, beingness recognized.

Services like Protonmail and Tutanota were created to preserve your privacy and security; therefore, you should consider adopting such tools.

Bypass telephone verification

Just like for emails, yous could obtain a phone number that’s not tied to your identity. The following practices and tools volition help you accomplish it:

  1. Buy a burner phone, a cheap mobile phone designed for temporary use, after which it may be dumped. Burners are purchased with prepaid minutes and without a contract.
  2. Buy an bearding sim such as ane provided by silent.link that you can pay with Bitcoin without whatever KYC info.
  3. Use online sim verification services such every bit Text Verified, and Receive SMS to featherbed verification. These services can be useful for one-off purchases and are liable to fail for multiple verifications.

Sending fiat money

Unless you utilise other cryptocurrencies to buy Bitcoin or exchange it for appurtenances and services, you’ll need fiat money to execute the purchase. Sending money online typically leaves a clear trace of your personal information, including your name and address, the corporeality transacted, the date and fourth dimension, and your bank account details.

These details move from your bank account to the exchange or broker y’all use for the transaction. If this is your preferred method of ownership Bitcoin, you can still avert leaving an irreversible trace, and listed below are some means to go about information technology.

Use Prepaid cards

You can circumvent the tracking of your coin linked to your data past purchasing pre-paid cards, such as souvenir cards, that many KYC-gratuitous platforms accept.

If y’all have the risk to purchase prepaid cards from your local shop in cash instead of your debit/credit card, you’ll accomplish the ultimate level of anonymity for such a method.

  1. Prepaid Bitcoin vouchers are a fast-rising mode of buying Bitcoin because they are uncomplicated and require no KYC. Popular prepaid Bitcoin vouchers are Azteco and 1ForYou. Bitcoinbons is some other provider available beyond iv,000 tobacconists and petrol stations in Republic of austria.
  2. Prepaid debit cards are usually linked to a banking concern business relationship and a verifiable individual. Yet, it’southward possible to become prepaid debit cards in some countries that don’t require identifying information. Virtual debit cards are chop-chop expanding every bit KYC-free payment methods. Local Bitcoins & Paxful are Bitcoin exchanges that accept prepaid debit cards.
  3. Prepaid gift cards – Prepaid souvenir cards tin exist used to buy Bitcoin on many exchanges. Paxful accepts nearly of them, including Flexevoucher, Amazon Gift Cards, Steam Wallet Gift Cards, PlayStation Network, and XBOX Gift Cards, to name a few. Hodl Hodl also provides many souvenir card options, while Robosats accepts Amazon eGift cards. Gift cards would preferably be purchased using cash.

Money transfer services

While near Bitcoin exchanges corroborate of the aforementioned payment methods in most countries, including gift cards and prepaid cards, depending on your jurisdiction, you might accept to resort to sending a wire or using one of the following services anonymously:

  1. With Moneygram, for example, you lot can use an email account with a masked proper name and address and a prepaid or virtual credit card, which are safe ways to avoid revealing your data.
  2. Paypal Business and Premier accounts allow y’all to create an account using fictitious personal data to ship fast payments. Simply add your recipient’southward electronic mail address to your list of payees, and you are ready to send money online anonymously.

Afterwards purchase

Labeling

Addresses and transactions are inherently connected in the Bitcoin blockchain, making information technology relatively easy to extract individual information. To avert privacy leaks, coin control and labeling become necessary for more anonymous transactions.

Just like physical coins in your day-to-day fiat greenbacks wallet, when yous spend your Bitcoin, you lot select your wallet’s coins to spend, known as Unspent Transaction Outputs (UTXO).

Assuming your coins get tracked downwardly by observers when y’all spend or receive them, labeling might come up in handy every bit it volition help you decide to whom to ship the selected Bitcoin and from whom you receive it.

By recognizing them through labels, you can avoid re-using them past keeping them private from entities or individuals and using new coins so they cannot be tracked downwardly.

Coin Mixing / Joining

In the ‘Run a total node’ section, nosotros mentioned the importance of verifying your own transactions to keep your coins individual. If you don’t run your node, your wallet and IP addresses are exposed to the potential surveillance of a random node that could leak your data.

This is where coin mixing and joining come to the rescue. With greenbacks, if user A pays user B with a ten-dollar bill, user B has no idea where that bill came from. With Bitcoin, coins are more easily traceable, a chip like revealing on a bill the names of all previous users and the amounts transacted.

Money Mixers

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Coin mixers are software and service solutions that permit users to mix their coins with others, disguising the ties between their addresses and real-globe identity, thereby preserving their privacy.

This concept is straightforward: users send coins to the mixer, and the mixer sends different coins back – usually minus a mixing fee.

When mixers are centralized services, they are inevitably vulnerable and present flaws as being a single point of failure they are exposed to malicious attacks. Trust is some other weakness, as the services must be trusted to ship the coins back and non steal them from the user.

Mixers must too be trusted to preserve your privacy, as they know exactly which coins were exchanged and could make up one’s mind the transactions’ trail. The alternative solution to trusting centralized mixers is to apply CoinJoin.

CoinJoin

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CoinJoin provides anonymity to Bitcoin users when they transact with each other, obscuring the sources and destinations of the BTC used in transactions. This method works by combining several payments from different users into a unmarried big transaction, mixing their UTXO in a pool, thus making it unclear who sent bitcoin to whom.

Bitcoin programmer Gregory Maxwell commencement developed CoinJoin in 2013, and early examples included Night Wallet, JoinMarket, and SharedCoins. Joinmarket is still a leading project that allows users to create wallets and transport coinjoin within the same awarding.

Early on decentralized solutions included Coinmux, Coinjumble, and CoinJoiner; all the same, none of these were widely used and, therefore, not very helpful since the concept makes sense only when at that place’south someone to join forces with.

Later on efforts include Wasabi Wallet and Whirlpool from Samourai Wallet. Wasabi wallet and hardware wallet Trezor are combining efforts to offer coinjoin for users’ enhanced privacy and plan to offering a coinjoin mixing scheme side by side twelvemonth.

PayJoin is an interesting coinjoin protocol that farther obfuscates the buying of UTXO during a coinjoin transaction mixing cycle where both the sender and the receiver coordinate to build a single Bitcoin transaction, thus masking the payment amount. Non-custodial Bitcoin and Lightning wallet Blue Wallet added support for Payjoin at the cease of 2020 to further heighten its wallet users’ privacy.

Avoid Block Explorers

Cake explorers are software that elaborates data from the blockchain to provide network statistics and permit users to look up specific addresses, transactions, or blocks through a simple search bar. They are too used to obtain more than data for block analysis companies like Chainanalysis and can reveal how much Bitcoin you hold and your transaction history.

If you are running your own node, using block explorers is more private than using online versions.

Wallets

Afterwards purchase, transfer your Bitcoin to a non-custodial wallet for more than privacy. Cold storage, or hardware wallets, are preferred as they operate offline, reducing the take a chance of malicious attacks.

Wallets are typically bearding because no KYC procedures are required to open up 1 unless they likewise function as exchanges. In that example, they might need some form of verification, and you might desire to use it for day-to-day transactions while keeping a different one to shop your stack more privately and securely. Yous should likewise connect your wallet to your ain node for extra privacy and security.

Hard disk Wallets are hierarchical deterministic (Hard disk) wallets that preclude you from reusing an address you used in the past to receive bitcoin by generating multiple keys (addresses) from one single private key. Each of those keys tin can generate its own set of keys then on to an space number of serial. It’s advised to take advantage of this characteristic.

Multi-signature (Multisig) wallets provide extra security by requiring more than than ane signature (key) to authorize a Bitcoin transaction and dividing upwardly responsibleness for the possession of bitcoins. You should always use a multisig with your own node to avoid KYC merchandise-offs with popular Casa & Unchained Capital apps, for instance.

Seeds are probably the nigh disquisitional component of your wallet experience as they should always be stored safely, for example, in a well-subconscious piece of paper, in encrypted methods, or on a steel plate.

Section iii: Where to buy Bitcoin Anonymously

You now have a few best practices available to enhance your security and privacy when buying Bitcoin, and you can employ them with the following methods for more anonymity. Not all privacy steps are necessary for each of these methods. You lot tin utilize your judgment and capabilities to adopt at least a few to give yous more peace of listen.

Buy locally (in person)

Buying locally and in person used to be more common when the value of Bitcoin was much lower than today, and people took risks associated with trusting the buyer or the seller.

However, if the counterpart is someone you trust reasonably, it’d nonetheless stand for an excellent style to buy Bitcoin. It’south even improve if the transaction is done with cash, every bit merely the other entity would know about the operation, reducing the run a risk of existence tracked down by authorities or malicious actors to near goose egg.

Buy locally (concrete stores)

As well online, Bitcoin can also be acquired in physical stores, usually a foreign substitution store with a little kiosk with Bitcoin-dedicated buyers and sellers. Many require some class of ID, simply that typically depends on the country’s shop location.

This is an excellent option to buy Bitcoin with a KYC-costless process; still, buyers should be enlightened of the risk of beingness physically seen and therefore associated with Bitcoin by criminals.

Here are a few locations effectually the world where Bitcoin can exist bought with no verification required:

  • The Bitcoin Store has 3 locations in Republic of croatia – Split up, Zagreb & Rijeka– where you lot can buy xv,000 HRK (approx 2,000 euros/dollars) without using an ID, and then long as you are over xviii.
  • The House of Nakamoto is located in Vienna, Austria. The maximum purchase immune without ID is €250.
  • LibertyX is America’southward first and largest network of Bitcoin ATMs, cashiers, and kiosks. Depending on the location, you can purchase upwardly to $1,400/week (rolling seven days) with only a telephone number.

ATMs / BTMs

Automatic teller machines (ATMs) where yous tin buy bitcoin are also called Bitcoin teller machines (BTMs). ATMs are known for withdrawing fiat currencies from banking company accounts. In contrast, BTMs apply blockchain to execute transactions that send the cryptocurrency to the user’s wallet through a QR code.

Buying Bitcoin with an ATM is quick and often KYC-complimentary. However, the transaction fees are loftier, from viii to 20%, due to the loftier maintenance costs of the hardware.

There are currently around 39,000 ATMs spread across 79 countries. The USA is where they are primarily distributed; withal, they are ascension fast everywhere. If y’all visit Coin ATM Radar, yous can find an ATM near you lot, including the types of KYC requirements.

Crypto exchanges & apps

Exchanges are typically the most convenient and easiest way for people to buy Bitcoin, and they can be either centralized (CEXs) or decentralized (DEXs). Buying Bitcoin on exchanges is convenient, but that convenience often comes with a price, your privacy, and security.

Decentralized (DEX)

Using DEXs is ordinarily recommended to protect your privacy due to their decentralized nature and fewer KYC requirements. Using specific payment methods to receive your funds is still necessary to maintain complete privacy, as sending directly from your KYC’d bank business relationship manifestly leaves a transaction trail.

  • Bisq is a decentralized peer-to-peer exchange that allows anyone to buy and sell bitcoin in exchange for fiat currencies and other cryptocurrencies. It is free software with no centrally-controlled servers and no unmarried points of failure. Information technology offers different types of payments, including face-to-face and greenbacks, making it an ideal KYC-gratuitous solution.
  • Robosats is a peer-to-peer Bitcoin non-custodial exchange ideal for onboarding new users as it’s easy and quick to employ. It requires no KYC since it’s based on pseudonymous avatars that allow customers to trade Bitcoin over the Lightning Network using the TOR browser only.
  • Hodl Hodl is a peer-to-peer Bitcoin non-custodial commutation that offers p2p lending services. It requires no KYC or AML procedures and offers many payment options, including cash in-person, prepaid debit cards, and bank transfers. It works through a multisig escrow where the seller controls one of the keys and agrees to a payment method with the buyer. In one case payment is received, the Bitcoin is released and sent to the heir-apparent’s wallet.
  • Paxful is a Bitcoin exchange and digital wallet that offers a broad range of payment methods, including gift cards, vouchers, and airline tickets. It usually does non crave KYC verification; even so, it had to innovate information technology at the end of 2020 for a select number of countries.
  • Peach is a peer-to-peer mobile app just that allows customers to buy and sell Bitcoin using amazon gift cards too. The service is still in beta mode, and there’due south a waiting list to join it; however, it is i of the few Bitcoin p2p marketplaces on a mobile application for the European market.
  • Local money bandy is a KYC-gratuitous peer-to-peer not-custodial commutation that uses escrow protection for users who can purchase and sell Bitcoin with several payment methods, including greenbacks in-person, cash past mail, and gift cards for higher anonymity.
  • Bitcoin.global is a p2p cryptocurrency exchange that requires no identity verification, no waiting times, and no additional charges, just an email address to go you started.
  • Telegram, in April, revived an abandoned blockchain project called Wallet Bot that allowed users to purchase Bitcoin. They accept recently launched a peer-to-peer cryptocurrency exchange that users tin bring together to send crypto via chat letters, with only a telephone number required for verification.

You can visit a consummate list of p2p decentralized exchanges that crave very petty or no KYC on GitHub.

Centralized (CEX)

When you purchase Bitcoin on a centralized commutation, you expose your data to leaks and hacks and may be at risk. Not merely is your online identity at take chances, but your concrete self is too challenged.

Depending on your jurisdiction, CEXs might nonetheless be an option to buy Bitcoin with piffling verification if they can resist strict KYC regulations. However, due to their nature, they might not be able to ensure soft- or no-KYC forever.

  • Relai is based in Switzerland and is Europe’s near accessible bitcoin-but investment app. Information technology enables instant Bitcoin purchases with no deposit, registration, or strict KYC procedure. The Relai app only provides not-custodial wallets, meaning its customers maintain control of their private keys at all times
  • Bybit is a cryptocurrency substitution and a fintech platform that offers a p2p version that accepts over 300 payment methods, including cash in-person. It requires soft KYC procedures based on trading and withdrawal levels. Users can withdraw upwards to 2BTC with no verification required.
  • Damecoins is a cryptocurrency exchange where users can buy Bitcoin with no verification and ID needed up to $l,000 transacted, except an email accost to receive confirmation of purchases and account data. They also take gift cards and bank transfers for transactions over $10,000 upon request.

Earn Bitcoin as income

The growing Bitcoin manufacture offers many opportunities to those who want to go a job that pays in BTC. You’ll nonetheless need to apply the security and privacy measures highlighted in this guide to receive Bitcoin anonymously. Yet, if you combine getting paid in BTC with moving to a crypto-friendly jurisdiction, you might exist able to earn Bitcoin tax-free too.

Go a solo miner

Another way to acquire Bitcoin with no KYC is to get-go solo mining or mining at home. You tin can read most this subject in our all-encompassing guides on Bitcoin mining and how to mine Bitcoin at home.

Operate a Lightning node

You can stack sats anonymously operating a Lightning node by charging fees to procedure transactions through your Lightning channels. Running a lightning node won’t earn you much Bitcoin at this point in time, only it would still be an excellent fashion to gain pocket-size amounts of BTC while saving on payment fees and helping secure and abound the network.

SUMMARY

Despite its reputation, Bitcoin is not entirely anonymous. Regime want you to believe that it is a safe oasis for criminals, coin launderers, terrorists, and revenue enhancement evaders; nevertheless, the reality is that information technology’s much more traceable than greenbacks and digital payments due to its immutable and transparent open ledger.

It’s more convenient and cheaper to reveal your identity to buy Bitcoin; however, you should consider the merchandise-offs because more than privacy might stop you from making costly mistakes in the long term.

Privacy takes work. But it’s worth it.

Source: https://bitcoinmagazine.com/guides/how-to-buy-bitcoin-anonymously

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