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When making an online transaction, several people like to stay anonymous for various reasons. And to achieve anonymity, they tend to use Bitcoin – a peer to peer, decentralized, digital currency.

It is often said about Bitcoin that it provides complete anonymity – which is not true. The Bitcoin transactions are not completely anonymous. They are made through Bitcoin exchanges. And the exchanges involved in a transaction may request you to provide your personal information, such as email address, a photo of yours, government ID, etc. and by using this information, they can trace and keep track of all your Bitcoin transactions.

(Learn about what are the top Bitcoin exchanges to trade coins)

To sort this out, we are going to discuss here some simple methods that will help you make anonymous transactions. Read carefully.

Stay Anonymous – Buy Bitcoin with Cash:

Wondering how to buy Bitcoin anonymously? Use cash! Yes, this is one of the simplest methods to buy Bitcoin anonymously. However, cash is not the only option – there are some other methods too, and we are going to discuss three of the most common ones here.

Buy Bitcoin Through ATM:

The ATMs give you complete anonymity to buy Bitcoin through cash. The machines don’t require any personal information or something else that a third party can trace. All you have to do is to go to your nearest ATM and make the transaction.

To buy the coins, all you have to do is enter your Bitcoin address and the number of coins you wish to buy. If you don’t have an address, just specify that you don’t have one and the machine will automatically generate a paper address for you.

Later on, using that address, you can import the private key and transfer your bitcoins to PayPal, or wherever you like.

Buy Through Local Bitcoin:

Another way to buy Bitcoin anonymously is Local Bitcoins. It’s a way of buying cryptocurrency through cash and in person. Through Local Bitcoins, you can find someone who is willing to sell bitcoins in exchange for cash in or near your area.

In order to use the service, you will need to sign up to their website. There is no documentation involved, so the process is completely untraceable.

Use Your Prepaid Card to Buy Bitcoin:

Prepaid credit card is another option to stay anonymous. The card is easily available at any supermarket or a convince store. Once you have the card, you can use it to buy the cryptocurrency without having to provide any personal information.

Some Methods That Are Just Partially Anonymous:

If you don’t have access to the above-mentioned methods, you can use the ones that are partially anonymous. These methods don’t require you to provide any ID. However, a phone number is still needed to enjoy the service.

Let’s take a look at some of them down below:

Wall of Coins:

A peer to peer Bitcoin exchange which only requires your phone number to use the service. Wall of coins currently operates only in Latvia, US, Argentina, Canada, Poland, Philippines, and Germany.

BitQuick:

Acts like an escrow between a buyer and a seller.  BitQuick takes the cryptocurrency from a seller and instructs the buyer to deposit cash into the seller’s account. Once the cash is deposited, the coins are released.

BitQuick also requires your phone number for its services.

Conclusion:

These are some ways to trade Bitcoin with complete/partial anonymity. If you are looking to buy coins without being traced, it will solve most of your problems.

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5 thoughts on “Buy Bitcoin Anonymously – A Beginner’s Guide To Making Anonymous Transactions

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  5. Btc wonder provides a platform were you can sell bitcoins, bch and others and get paid directly to your paypal account

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Person Loses Over $300,000 Due to Simple Mistakes

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An ether wallet had received hundreds of thousands of dollars around two weeks ago. Unfortunately, those funds were later hacked form different wallets due to the negligence on the user’s end. If only a few security measures had been taken, some of those funds could actually be protected from the hacker.

How it happened

Maximum of funds were stolen from a user holding 973 ethers. What caused this hack was the fact that the user had a rooted android phone. Rooted Android phones are similar to jailbroken iPhones, which means that new applications can be installed but they have no security assurance that the apps are not malicious. That being said, such an app must have been installed on to the device providing the hacker access to your phone. On gaining access to the device, the hacker used an exploit to retrieve the backup phrase to Jaxx wallets. This exploit has not been fixed since Jaxx is a hot wallet, which means that coins are kept here for frequent use and not storage.

 

Ways to increase the security of your funds

Crypto security experts have provided a few tips on how you can maintain the security of your wallets and funds.

  1. Do not use public Wi-Fi even after using VPN.
  2. Be sure to turn on 2-FA for all your user accounts, with google authenticator.
  3. Do not store your private key unencrypted.
  4. Never access your funds from a rooted device.
  5. Do not install applications on your device that are not trustworthy.
  6. Keep a look out for phishing scams. Your private key should only be known by you.
  7. Bookmark your sites. Some fake sites are known to have URLs similar to the actual portals and could steal your personal info.
  8. If you possess a large sum of funds, split it amongst separate wallets to ensure that not all your money could be lost due to some blunder.
  9. Cold wallets are to be preferred over hot wallets and exchange wallets for storage.

 

Story Credits: coinidol.com

Image Credits: coinjournal.com

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ICO Market is Skyrocketing! How Are Regulators Going to Handle It?

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Nowadays, ICOs (Initial Coin Offerings) are among the most contentious fundraising techniques. Though, based on market figures, it looks like there’s no halt in raising money with ICOs anytime soon.

ICO Market Analysis

The very first successful ICO event took place in 2014 by Ethereum. However, the year 2017 saw some of the biggest ICOs, such as Filecoin and Hdac, that raised more than $250 million only with their token sales. But the trend seemed to slow down by the end of the year, with a huge number of failed ICOs.

According to a report, out of 169 projects, only 69 managed to raise money through token sales, effectively. As the trend started to fade away, it grabbed the attention of protruding figures of the blockchain sector.

ICO market

Trends

By the end of 2017, the failure of ICO trends rebounded with force and achieved a whole new level in the starting of 2018. More than $1 billion worth token sales were registered back in December. However, in a mere three months of 2018, the blockchain firms raised more than $5 billion by selling tokens.

The number of ICOs are skyrocketing. Plus, 50 ICOs are now being registered every month, whereas in 2017, not a single month saw ICOs more than 26, except the month of December.

 

Scams

People with dubious business models saw a huge opportunity in the unregulated ICOs market. Major projects such as Bitconnect, was shut down after it reached a $2.5 billion market cap. Furthermore, the intense funds on digital platforms turn out to be an easy target for hackers and according to a report, 450 ICO projects were attacked in 2017.

Problems Faced by Regulators

ICOs are gaining huge popularity and have become a huge concern for regulatory authorities around the world for two main reasons:

  • The vulnerability of the investors.
  • The cash-flow to an unregulated sector.

Though, the complex decentralized architecture of the blockchain has made it quite hard to execute any regulations on the wild-market, the largest ICO market, US, has recently become the centre of the regulatory discussion on cryptocurrencies and ICOs. Deprived of any real plan, numerous US agencies, like SEC (Securities and Exchange Commission) and the CFTC (Commodity Futures Trading Commission) are trying their best to explain the rules according to their own partial understanding.

Is there any solution?

Well, it’s quite clear that the ICO market is far-off from coming to a “full-stop.” Though, on the other hand, this also means that more projects are going to target investors. However, in an attempt to regulate the market, the SEC keeps on banning legit ICOs.

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Buy Bitcoin Online- How To Make a Perfect Purchase

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Buy Bitcoin Online

If you have learned about basics of the bitcoin, the next is to buy bitcoin. But the question is how? How can I buy the bitcoin?

I am here to tell you about how you can buy the bitcoins. You can buy bitcoin from exchanges or directly from people via marketplaces. whereas, we will discuss online buying of bitcoin. So, let’s start.

Buy bitcoin with a credit card

Here, we will have the example of 247 exchange. To buy online bitcoin, you have to focus on the procedure. Whereas, exchange policies may vary from site to site. So, let’s start with the first step.

  1. This is a common thing that when you are going to sell or buy something. You need some verifications. Same with buying bitcoin. First, you have to create an order by filling a form name buy cryptocurrency. You need to pay attention to all the section of the form. And, try to avoid to enter the bogus material. Otherwise, your order will be canceled by the site automatically. After completion of the form, you will become a registered user automatically by clicking “make the order”.

Buy Bitcoin Online

  1. After clicking “make the order”, you have to pass some verification test. This test will not use up a lot of your time. Whereas, a test will be held by AML-program depending on your verification and amount ordered. Here, you need to confirm your identity, address, and phone number. In extraordinary cases, you have to submit additional documents. Accordingly, you need to submit your address, your card if issuing bank don’t have a 3D technology. After few minutes of your identification, you will be able to enjoy our services.

 

Buy Bitcoin Online

  1. After getting the approval from a site, you will receive an e-mail. Log into your personal account, check the details of on order page. While you check your order details, verify each detail. Because you enter the wrong account number you’ll lose your money.

 

Buy Bitcoin Online

In addition, if you are not satisfied your amount in order and want to change it. You have to put another order with your desired amount. And just leave a message on your order page. Another thing is, you have to pay from your own credit card.

 

Buy Bitcoin Online

  1. The last and final step is, read the rules and policies of the site and click the “I agree”.

Within few minutes, an amount will be deducted from your account and you will receive your desired bitcoin.

Buy Bitcoin Online

Buy Bitcoin Online

 

Buying large amounts of bitcoin

To buy the large amount of bitcoin you have to follow these simple steps.

  1. Find a bitcoin exchange, a majority use Spectro coin or Kraken.
  2. Make payments in U.S dollars or Euro to buy bitcoin. After register, yourself to the exchange.
  3. When you get bitcoin, transfer it to your wallet.
  4. Finally, get bitcoin debit card for easy spending.

That’s all. You buy your bitcoin easily.

What makes for the best bitcoin  

When you are finding the best bitcoin, you need to consider some factors. Which may vary from person to person. In addition, these factors directly create an impact on buying and selling of the bitcoin.  Some of the factors are given below;

Exchange rate

While comparing bitcoin exchange’s price with bitcoin price index you’ll get best exchange rate.

Payment method

You need an exchange who accept your bitcoin payment method. Whereas, different exchanges offer their services at different rates. For example, exchanges often charge a fee of 3-10%.

Speed

You want to buy bitcoin. Unfortunately, it is not a simple and easy challenge. And especially, when you are going to buy bitcoin in large amount. you need to research all the exchanges and figure out the verification level and delivery speed. Otherwise, you’ll get coin after a week, which you need right now.  

Amount

Coinbase can sell $1000 bitcoin on daily basis to its regular users. Whereas, for fully verified users can buy up to $50,000 daily. limits. Which is vary from exchange to exchange. In addition, each exchange offers FAQ to guide about the verification levels.

Privacy  

Buying bitcoin in replacement of the cash is the most convenient and safe way to buy bitcoin. Doesn’t matter this buying will be through the p2p exchange like local bitcoins or at bitcoin ATM. But exchanges also accept the credit or bank transfer.

Above all discussion is about how to buy Bitcoin online. So, be aware of scams, and buy bitcoin freely and safely.   

 Good luck!

 

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Why Is Bitcoin Gaining Worldwide Popularity?

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Bitcoin Gaining Worldwide Popularity

Bitcoin is a digital currency that first came in markets in 2009. The start was slow, but the whole business world moving to the internet has helped it gain worldwide recognition at a rapid speed. There are numerous reasons behind its growing popularity and all of them cannot be compiled in one post. Some of the primary reasons as to why Bitcoin is suddenly gaining worldwide recognition are discussed below.

Reasons Behind Bitcoin’s Popularity:

Bitcoin Is Stored on Virtual Wallet:

The bitcoin wallet serves the same purpose as a bank account for the traditional money. Once a user has successfully mined coins, they are stored in a virtual wallet – also known as Bitcoin wallet address. Each user is allocated a wallet to store coins. The wallet is then used to send or receive coins.

Bitcoins Are Becoming Mainstream:

During its early days, Bitcoin worldwide popularity was considered to be some kind of internet oddity. But this not the case anymore.

With several leading banks, business corporations and retail stores accepting it as a method of payment; the trend amongst the general public is shifting and the number of people buying/selling their favorite items is increasing each day.

Bitcoin Is Immune to Counterfeiting:

The currency is autonomous to third party influence and is created purely through cryptographic techniques. The code used in Bitcoin generation is impossible to replicate, which ultimately makes it immune to counterfeiting.

In addition to cryptographic features, gain Bitcoin gives its user complete anonymity. The anonymity, as a result, gives the users the freedom to transfer coins across the internet without regulators, censor or nosey authorities.

A network of Miners:

The backbone of this entire system is the network of miners. A miner is a high-end computer user who supplies the Bitcoin network with the processing power. The power is then used to maintain a tally of all transactions.

Maintaining a transparent tally is essential as it helps prevent fraud. The miners, in return, are awarded brand new bitcoins for their services.

Acceptance as A Form of Payment on Global Scale:

Bitcoin has often caused an argument over the reliability of its design. For years, the Cryptographers argued whether the digital currency is well-designed and can it be used to buy anything?

Luckily, Bitcoin is erasing all the doubts over its authenticity. Now you can buy a car, real estate, toys for your kids, yacht, and nearly everything using bitcoins.

Running a small/large business? Learn how to accept Bitcoin payments here.

Trades Through Bitcoin Are the Easiest and Cheapest:

Another reason as to why Bitcoin is gaining worldwide recognition is its simple and easy transfer. Whether you want to send coins to a friend next door or someone living in distant parts of the globe, all it takes is a few minutes to complete the transaction. And since the currency does not need to go through any clearing house (government, The central bank, Visa card, master card, etc.) the transactions are cheaper than those of traditional currency.

These are some of the reasons as to why Bitcoin is gaining popularity throughout the world. In conclusion, the currency is easy and cheaper in terms of making transactions, cannot be counterfeited and is accepted on a worldwide scale. Considering all these factors, Bitcoin is only going to hit the new heights in the future.

Read our guide on what are the best Bitcoin exchanges to safely transact the coins.

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