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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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Dara Khosrowshahi, Uber’s new CEO has plans for Bitcoin

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Most commonly known for running the traveling site Expedia, Dara Khosrowshahi has just accepted the CEO job for Uber.

Khosrowshahi made a bold move when Expedia had announced that it will accept bitcoin as means of payment back in 2014. Back then the currency was still quite new and not many institutions were willing to invest in it.

Now, it’s very intriguing to think how Khosrowshahi is going to experiment with the world’s best cryptocurrency and the largest ride-sharing platform. Travis Kalanick, the founder and former CEO of Uber never gave in to the ideas of having Uber accept bitcoin but, this could change under Khosrowshahi’s charge. With the increase in interest shown by major companies, one can only imagine how far Uber would go if it joins forces with the cryptocurrency.

Nonetheless, we have only well wishes for Dara Khosrowshahi as he takes on this new challenge. No doubt, he’s got the potential to take the ride-sharing platform to places.

 

News Credits: fortune.com

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Bitcoin Sign Guy Nets Almost $15,000 – Here’s How!

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13 July 2017, It pays to be the Bitcoin sign guy. Don’t believe? Look up the new data released by Blockchain.

Main Story:

Yesterday, Bitcoin world was humming during congressional committee by Federal Reserve chair Janet Yellen. Where the image of sign speedily gets viral in few hours, yet the attendee with his partner was eventually asked to leave by a staffer.

After his arrival, it emerged that the solitary is a friend of cryptocurrency broker who tweets under the knob CryptoEthan. He also posted a picture, soon he will recognize as Bitcoin Sign Guy. In addition, he will have the complete authority to share Bitcoin and hold the now-infamous sign as well.

Although, his gathered address is 6.32570673 BTC, with the amount under $15,000 at the existing price. whereas, it holds the transaction with 556 number according to blockchain.info. That was small in scale with a 1BTC contribution.

Later on, that photo was deleted at Bitcoin Sign Guy’s request. This viral activity drove numerous scams tries with photoshopped versions of the original picture.

Story Cerdit: Coindesk

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ICO Regulation: Japanese Research Group Releases Guidelines

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According to a Bloomberg report, a list of strategies for the regulation of ICO (Initial Coin Offering) has been released by the a research group at Tama University, in Japan. The list also explains strategies to fully legalize the ICOs.

dubai ico

Guidelines for ICO Regulation

The list of guidelines includes regulations for:

  • Tracking project development
  • AML (Anti-Money Laundering)
  • Identifying investors
  • Protecting the debt holders and current detachment

The Financial Services Agency of Japan will be cautious on the proposal, as it could be ultimately made into the law just within few years’ time, Bloomberg reported.

The paper creates issuance rules, for example; defining and revealing methods following the development of white papers, and disclosing the possible impacts on debt holders, shareholders, and token investors. In addition to that, the paper specifies particular trading rules, including:

  • Verification of customer’s identity
  • Suitability (Know Your Customer)
  • The allowance of industry’s wide-minimum standards on the listing of tokens.
  • The restriction of biased trade practices such as insider trading.

Regulations will be Applied to Three Types of ICOs

While acknowledging that it is quite hard at this time to classify the whole legal ICO, as many are impending, the unidentified types might be still present. According to the paper, the rules will be applied to only three types of ICO:

  • A large company type for in-house.
  • A venture company type.
  • An ecosystem type of joint exertions with numerous firms or government entities.

In the report, ICOs are clearly identified as securities and have the same position as the US SEC (Securities and Exchange Commission).

According to a researcher, Kenji Marashima:

“ICOs are groundbreaking technology, so if we can implement good principles and rules, they have the potential to become a new way to raise funding.”

One mentor of the study group is Takuya Hirai. He is a member of the leading Liberal Democratic Party, as well as, one of the planners of a regulation legalizing crypto-exchanges in Japan. Other members of the group are:

  • Yuzo Kano, who is the head of bitFlyer Inc., which is the largest Bitcoin exchange in Japan.
  • Mitsubishi UFJ Mizuho Financial Group Inc.
  • Financial Group Inc.
  • Sumitomo Mitsui Financial Group Inc.

The publication of these ICO-friendly guidelines is set against the positions of South Korea and China, as last year, both of these countries banned ICOs.

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The Dos and Don’ts of Safe Peer-to-Peer Bitcoin Trading

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For some reasons, people are hesitant to buy bitcoins in face-to-face transactions. They are afraid of the risk that comes with it and would rather trust a Bitcoin exchange with their bitcoins. However, every method comes with its own set of dos and don’ts.

This post will outline the various dos and don’ts you must keep in mind while trading bitcoin face-to-face.

 

Carry your device with you

Do not forget to carry your personal device, be it your mobile phone, laptop or tablet when you’re going to the meeting. Make sure that you already have a bitcoin wallet if you’re the buyer. It is best to take your own device so that you can verify the trade on it rather than filling out your personal information on the other party’s device.

 

Do not cancel trade if price of Bitcoin drops

Feedback is everything. Do not try to walk out on a trade when you can negotiate. If the prices have dropped then it is best to try to negotiate on a price that benefits both the parties. When you cancel a trade, it is going to lessen your chances of earning a good feedback early.

 

Decide on a price ahead of time

To avoid any debate on the price later on during the meeting, it is best to agree on a price beforehand. Do not try to get a higher rate out of the seller after the price has been decided, this attitude can cause things to go sour very quickly. If possible, get an escrow service as it guarantees the payment to the seller and the buyer is sure that he will receive the bitcoins before releasing the payment.

 

Don’t expect to get rich overnight

You need to keep track of the rapid price changes taking place while trading. You need to prove that you are a good and reliable buyer/seller in order to gain a better reputation on any exchange platform. Be sure to remain patient when dealing with bitcoins, as nothing comes easily. Do not be fixed onto selling your bitcoins the moment it hits a high note since it is very volatile.

 

If you follow these pointers, then you are sure to develop a good reputation on any exchange platforms and have nothing to fear.

 

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