You have probably heard about identity exclusion. Currently, there are around 1 billion people on earth that do not have legal identities such as birth certificates or identity cards. You can be sure that all these people are among the “unbanked” since they do not have the proper documents required to open a bank account. The “unbanked” are prevalent in the emerging world economies. Markets such as Bitcoin can be an excellent store of value for unbaked users. However, Bitcoin has always been difficult to buy without ID verification. Until now. Besides being among the “unbanked,” there are other reasons one may want to buy Bitcoins anonymously. Maintaining your online privacy is very crucial in the current age. This article will talk about how to anonymize bitcoin on a budget.
- Bitcoin ATMs: Bitcoin Automatic Teller Machines (BTC ATMs) is an excellent place to start. You will find these machines in almost all large cities. All you need is a credit or a debit card. The best thing about BTC ATMs is that there is no oversight, and it is easy to get a prepaid debit card. Although some machines will require some form of ID, such as scanning your palm print, most of them do not need any validation since they are buy-and-go stations. Some BTC ATMs accept cash. Such machines are perfect for buying small amounts of Bitcoin. Purchasing small quantities means that there will be minimal traces for your transactions.
- Paxful: The easiest way to anonymize Bitcoin on a budget is to buy in cash and person. Log in to Paxful and look for someone near your physical location who is willing to sell Bitcoins for cash. Make sure you use an alias email to sign up for Paxful. Paxful is ideal because their verification ID process is optional. Using money ensures that there is no documentation making the transaction untraceable.
- Prepaid Cards with P2P Exchange: Consider going to your local mart and swapping your fiat for a pre-paid debit card. Use the new pre-paid debit card to buy Bitcoin through peer-to-peer exchanges that do not require ID. If you live in a metropolitan centre, you can swap things such as gift cards for cryptos. Here, you have to do all the work yourself. Look for someone who has Bitcoins and is willing to exchange them with something that can be bought with cash. Make a deal and swap any material thing you have with their Bitcoin. The entire transaction will be anonymous.
- CoinMama: Here is another excellent place for beginners who wish to make their first transaction. CoinMama allows you to get the first $150 worth of Bitcoin with either a debit or credit card without providing any identification. The low buy-limit is a great deal for beginners.
- Miners: Another ideal way to anonymize your Bitcoin is to buy them directly from a miner. Bitcoin miners often sell their tokens, and they will be willing to make a deal. Remember that newly mined Bitcoins sometimes carry a significant premium. Loo for a miner who wants to monetize some of their Bitcoin. Trade cash or any valuable item for their Bitcoin. The entire process will not have any documentation, thus making you anonymous. Even though it is challenging to find a crypto-miner who is willing to sell directly to you, this is the best way to anonymize Bitcoin.
- Hold your Bitcoins: Avoid keeping your Bitcoins on a custodial exchange. A custodial exchange will ask and store your identity, and they may share it with law enforcement. Instead, set up a Bitcoin wallet. A Bitcoin wallet is a software that allows you to send and receive Bitcoin in a peer-to-peer way. You only need a personal computer. A Bitcoin wallet does not allow third-party companies or the cloud to store the codes required to spend Bitcoins. Make sure you use a computer with an open-source Tails Linux operating system, which runs off an external USB drive. This operating system makes the internet hard to track.
- Bitcoin Mixer: A Bitcoin mixer helps you to hide the movement of your funds. A Bitcoin mixer is a website that will accept your bitcoins and then send you back different tokens that have no connection to your previous activities. The process is like swapping cash for bills with different serial numbers. The bitcoin mixer sends you the “clean” coins back to you in several transfers over a random time frame to complicate the transaction process.
Now that you know how to hide your tracks consider using this new bitcoin anonymizer for an excellent experience.