The anonymity of cryptocurrencies is a problem for regulators who want to control all transactions in the financial market. Therefore, national authorities are striving to verify participants in the crypto community. Despite the active work of regulators, there is still an opportunity on the market to buy BTC anonymously. We tell you how to become the owner of cryptocurrency without revealing your identity.
Non-anonymous anonymity
Bitcoin and Internet transactions are pseudo-anonymous. The fact is that the cryptocurrency blockchain stores information about all operations. Anyone with Internet access can view the transaction history of each crypto wallet and obtain information about the number of coins in it.
The storage address will not be tied to standard user identification data: name, place of residence, email address, etc. At the same time, if someone manages to de-anonymize a crypto-wallet, then all transactions will cease to be confidential.
- There are many ways to identify a user. For example, scammers can use so-called “dust attacks.” Here’s how the method works:
- Fraudsters collect leaked databases that contain information about crypto wallets and the supposed names of their owners.
- Afterwards, the attackers send a small amount of coins to crypto wallets. Such “seedings” are needed to provoke a potential victim to send assets to other storage facilities.
- After the victims’ operations, the scammers compare the information they already have about crypto wallets and their possible owners. Those whom they managed to de-anonymize can begin to blackmail.
Precautionary Measures
The systems ask for identification information when registering on many anonymous Internet platforms that allow buying bitcoins anonymously. For example, some sites register accounts based on an email or phone address. To increase confidentiality, you should ensure that neither email nor mobile phone can lead to the real owner of the crypto wallet.
It would be a good idea to use VPN services in your work. They help change IP address information, which increases user anonymity.
Another tool to protect investor privacy is a Bitcoin mixer.
What is a Crypto Mixer?
Stories that transactions in cryptocurrencies are completely anonymous are only partly true. Bitcoin addresses can (albeit to a certain extent) be traced and linked to real individuals. This risks investors having their personal information exposed and their account transactions potentially being monitored.
This is where a crypto mixer or crypto tumbler comes into the picture, innovative tools designed to provide privacy and anonymity to users in various circumstances.
Imagine a huge cauldron in which various elements converge, merge, and disperse, leaving no trace of their original form. At its core, a Bitcoin mixer combines coins from different users. This collective cauldron becomes a melting point in which individual transactional connections dissolve.
After mixing, the coins are sent to their owners (minus the crypto mixer fee), but not the same coins originally sent. Thus, the transaction history is effectively “shuffled,” making tracking attempts futile.
How to buy Bitcoin Anonymously
Let’s look at several popular ways to purchase Bitcoin anonymously under sanctions pressure:
- Through a P2P platform. There are many P2P platforms on the market where users can purchase bitcoins anonymously.
To register on such platforms, you must provide an email address. The system will send a link to it confirming registration.
How to buy crypto anonymously? Specify a crypto wallet in the system settings. For example, you can register an anonymous address on decentralized crypto exchanges. Another option is cold (hardware) crypto wallets. Let us remind you that this option for storing cryptocurrency is the safest.
- Through a crypto exchange. Some decentralized and centralized crypto exchanges, despite pressure from regulators, still offer tools with which you can buy bitcoins anonymously.
Previously, there was a list of trading platforms and registration, which does not imply de-anonymization. At the same time, market analysis showed that most crypto exchanges limit anonymous users in the volume of transactions. Some trading platforms also block unverified accounts from accessing several services.
- Purchasing bitcoins anonymously from hand. On crypto forums and in thematic chats, you can find a lot of offers to sell cryptocurrency from someone else. Such operations involve risks. For example, in the absence of a guarantor, no one will be able to ensure the security of the transaction. Moreover, if we are talking about an honest seller, buying Bitcoin anonymously can be done without additional commissions.
Let’s sum it up
To maintain confidentiality, security rules must be followed. For example, when registering, you should not indicate an email address or mobile phone number, which could lead to the real owner of the coins.
Where to buy crypto anonymously– everyone chooses for themselves, depending on their capabilities and needs.
