Shield Your Identity: A Step-by-Step Guide to Anonymously Buying Crypto & Bitcoin
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Buying Crypto Has Never Been Easier
It has gotten much easier to buy crypto over the years. Today, you can buy the digital assets through PayPal, and numerous traditional brokerage firms even let their customers trade cryptocurrencies (despite many of them being reluctant to do so when the asset class was in its infancy).
Safeguards for Crypto Buying
But even now, most brokerage firms have some safeguards in play. Most of them limit you to the most established cryptos, such as bitcoin and ethereum, while others only provide access to crypto-themed exchange-traded funds.
The Limitations of Traditional Platforms
However, even if you’re able to purchase crypto through your brokerage, those accounts don’t offer the same level of privacy for their customers, which was a major contributor to bitcoin’s initial success. When it comes to crypto, some investors prefer to operate under the radar and accumulate the asset without getting tracked.
Buy Crypto Anonymously or Without Verification
This guide will detail the steps you can take to buy crypto anonymously or without verification.
Create a Privacy-Focused Wallet
Some crypto wallets are better for anonymous transactions than others, but you will have to narrow your choices for a privacy-focused experience. Open-source wallets, such as Wasabi, can give you the privacy that you seek while letting you buy and sell cryptocurrencies.
Bitcoin ATMs
Bitcoin ATMs are a great resource for accumulating bitcoin while remaining anonymous, but this option is only good for people who live near those machines. There are an estimated 38,299 bitcoin ATMs in the world, but 88.9% of them are located in North America, according to Coin ATM Radar.
Prepaid Crypto Debit Cards
Prepaid crypto debit cards are like regular prepaid debit cards, but they revolve around crypto. These financial products allow you to make crypto transactions without providing any personal information. You can load up on crypto with these cards and then use them to make purchases.
Should You Buy Crypto Anonymously?
Buying crypto anonymously makes it more difficult for the government to track your financial transactions. Offline transactions also minimize the risk of cyberattacks resulting in lost bitcoin. While some crypto platforms have robust bitcoin insurance policies, others are not adequately prepared for breaches.
