Too many people consider the web as a dark place, and the ability to go on the web anonymously seems to appeal to a growing number of people.
There are really numerous reasons why someone would like to be anonymous on the internet; however, trading Bitcoin isn’t completely anonymous. Whenever there is an exchange between the seller and the buyer, the Bitcoin exchange will request information from you, such as a government-issued identity card or a recent utility bill.
You will need a Bitcoin wallet before you can trade, so you must choose a cryptocurrency exchange. One of the exchanges that will serve for this purpose could be LocalBitcoins.
LocalBitcoins began operations in 2012 with its headquarters in Helsinki, Finland, and has numerous buyers and sellers across the world on its platform. Buying bitcoins is already a confusing process, and requesting a valid verification method seems to really complicate the process.
There are four methods you can purchase or sell Bitcoin without having an ID.
Buying Bitcoin with Cash
Purchasing Bitcoin anonymously requires due diligence, but this is the best way to stay anonymous. To sign up on LocalBitcoins, you need an email address (you can use an alias if your ultimate goal is to stay anonymous), as this is where you will receive notifications from the LocalBitcoins sellers. Paying with cash guarantees your anonymity.
Bitcoin ATM Option
This is an innovative approach you can take advantage of if you prefer to stay anonymous. Go to the Bitcoin ATM closest to you and buy BTC in exchange for your fiat currency (dollar, euro, or pounds). During the transaction, the Bitcoin ATM will request for a scan of your public address in order to transfer BTC to that address. However, if you specify that you do not have one, it will generate a newspaper address for you, which works just as fine and can keep you anonymous.
Some Bitcoin ATMs may have a camera, and others may not, so if you want to conceal your identity, be sure of the kind of Bitcoin ATM you are using.
Users can participate in trading on the Gliph Marketplace by creating a pseudonymous account and linking their blockchain.info or Coinbase wallet to it. It is a marketplace where transactions are encrypted and secure, and Bitcoins can be accepted for payment for services and products. Your account can be set, so not even Gliph staff members can decrypt your messages or transactions.
Purchasing Bitcoins with a Prepaid Credit Card
Using a prepaid credit card is an ideal way of getting Bitcoins anonymously. These prepaid cards can be obtained from a supermarket. Coinmama is an issuer of the prepaid credit card that can be used to buy Bitcoins.
The only disadvantage is that your purchase power is limited if you don’t verify your identity, as each transaction is usually capped at $150.
There are crypto enthusiasts who believe that BTC transactions should be anonymous and out of the prying eyes of the government, as no one is supposed to have unrestricted access and control over how another person spends his money, and Bitcoin Mixers created by anonymous software developers seem like the answer to the anonymity prayer. The Bitcoin Mixer is a Tor service that erases the history of your Bitcoin and makes your Bitcoin transactions anonymous, meaning nobody can use data from your blockchain analysis to track you.
There are diverse people who would like to track your Bitcoin transactions activity, and not all of them wish to do you harm or steal your coins. From the Law Enforcement Agencies that are looking for money launderers to the cybercriminals who hope to hack your computer to steal your Bitcoin to the researchers whose objective is to analyze Bitcoin transactions.
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While all these methods will keep you anonymous when you buy Bitcoins, anyone with sophisticated technology can quickly track you either through your Bitcoin public address or the IP you are trading or simply by using the vehicle or mobile number used to communicate with the seller during the deal.
Featured image: technologyreview.com
Source From : Coindoo News