Many people who don’t have bank accounts or debit cards want to buy bitcoin without verifying their identity. This is especially true for those who value their privacy.
Fortunately, there are several ways to buy bitcoin anonymously. These include peer-to-peer marketplaces, ATMs, and exchanges. They all come with their own risks, but if you’re willing to put in the time and effort, they can help you protect your privacy.
Peer-to-peer marketplaces
Peer-to-peer marketplaces are websites that allow sellers to reach out to a large audience and buyers to find goods they need. They can be a great way to buy crypto without verifying identity, but they come with some limitations.
A peer-to-peer marketplace can be an ecommerce platform that sells or rents products and services, or it could be a service marketplace like Airbnb, where people offer their own goods and services to other users. Both types of marketplaces require a user-friendly design, quality control, and communication functionality.
To build trust between users, peer-to-peer marketplaces usually have reviews and ratings features for both sellers and buyers. For example, in Airbnb, both hosts and guests can see each other’s reviews to feel confident that they will get a good experience from the accommodation they have booked.
Peer-to-peer marketplaces require daily monitoring and management to ensure they meet the needs of their users. Fortunately, powerful admin tools let you moderate content, control access, watch transaction process, and more.
ATMs
ATMs are a good way to buy bitcoin without verifying identity, but they also come with a few disadvantages. They can charge exorbitant fees (7%-20%) and have stricter purchase limits compared to cryptocurrency exchanges.
In some cases, they don’t even provide customer support if there’s an issue with the transaction. That makes them less convenient than buying crypto online.
Many criminals also exploit the anonymous nature of ATMs to perpetrate scams on unsuspecting victims. For example, they advertise goods for sale at a discount to the usual market price on sites like eBay and Craigslist, telling their victims that they must make purchases via bitcoin to secure the prices.
In order to use a crypto ATM, you need to provide a phone number and PIN to receive a text verification code. This is the same approach used by banks when customers withdraw cash.
Exchanges
If you’re looking for a way to buy bitcoin without verifying your identity, you may want to consider using an exchange. These centralized platforms make it easier for beginners to get started and offer more security than peer-to-peer transactions.
Buying crypto on an exchange also allows you to compare prices, fees, and deposit methods. These factors are important because they can help you decide which cryptocurrency exchange is best for you.
One option is to use a reputable and trusted exchange such as Bisq. Its deposits are held in 2-of-2 multi-sig wallets, which means that your funds are secure.
Another option is to use a Bitcoin ATM. This is a popular method for many people, and it’s usually the quickest and most convenient way to purchase bitcoin. However, this method isn’t as anonymous as using a centralized exchange, and it can have higher fees.
Bybit
Bybit is one of the best ways to buy bitcoin without verifying your identity. This exchange is based in the United Kingdom and is regulated by the Financial Conduct Authority (FCA).
Individuals around the world can use Bybit to buy crypto using common payment services such as bank transfer, credit cards or e-wallets. It also provides support for a number of different currencies including EUR and USD.
Buying cryptocurrency on Bybit https://www.bybit.com/en-US/ is free and simple, but it does carry some transaction fees. These are 2.49% of the purchase amount for card transactions and a miner fee that varies by currency.
In addition, users need to verify their identity through a photocopy of an ID and basic personal information. This is to ensure that the platform is not a fraud. This process can take up to 5 minutes, but it is quick and easy.
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