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For the longest time Bitcoin transactions were thought of as anonymous. However, with the increasing demand and popularity of cryptocurrencies, the anonymity of owning Bitcoins is becoming more and more subjective in nature. Since people are trying to move cryptocurrency to be adopted as a global currency, it can now be put under the radar of the government and it may even be tied down by anti-money laundering regulations as well as know your customer or KYC regulations. While both of these regulations may be put into consideration keeping in mind the best interest of customers it takes away the freedom that cryptocurrencies offered to one and all. While many believe that cryptocurrencies are automatically designed to be anonymous this is actually not true. It completely depends on how you use your cryptocurrency.
Buy Cryptocurrencies against Cash on the Internet
There are several other ways where you will be able to anonymously buy cryptocurrencies against cash without meeting the seller. You can use a wide variety of platforms to find appropriate sellers and negotiate the price. These platforms generally provide security to both the seller as well as the buyer and provide the seller with cash after the buyer has received the promised amount. However, you will need to create an account with an application that will require some authentication. Bear in mind that there are certain security risks when it comes to buying cryptocurrency online using cash and weigh the pros and cons before making such a transaction.
Buy Cryptocurrencies Face to Face
There are some options where you will be able to buy cryptocurrencies face to face against cash. While it seems a little risky to buy a cryptocurrency around the corner of the street if you research well and find an appropriate seller will be able to make the transaction quite successfully. However, your anonymity is somehow sacrificed because you will have to show your face to the seller. This is actually how cryptocurrencies and Bitcoins who were traded in the earlier days. Hence although it might seem a little dodgy, it may be worth a try.
Use Bitcoin ATMs
Bitcoin ATMs are much like the regular ATMs that you visit in order to extract cash. However many believe that buying Bitcoins from a bitcoin ATM is counterproductive because they generally charged a fairly high transaction and service fee. This is because Bitcoin ATMs are generally linked directly to the APIs of a cryptocurrency exchange from where they purchase the coins. But if you truly want to buy cryptocurrencies anonymously this is one of the best ways for you to do so. Make sure that you do your research before choosing the right Bitcoin ATM. From there the steps are quite easy as you will simply have to deposit cash and you will be able to get access to a paper wallet of cryptocurrency. You can then transfer this Bitcoin to your wallet which will further keep you anonymous and your identity will be kept safe.
Some Additional Tips
- One of the most basic things that you must keep in mind when trying to maintain your anonymity concerning Bitcoin, is to keep silent about your ownership. You might sometimes feel like boasting about your Bitcoin Empire to your friends and family but you must inhibit yourself from such desires. The fewer people know about your Bitcoin transactions the better it is for you.
- Use a new address for each transaction using cryptocurrencies. When you use the same public address every time for making transactions using cryptocurrency it can be easily associated with your wallet. If someone truly digs Deep they may be able to disclose your identity.
- It might be smart for you to use privacy coins. There are some cryptocurrencies that have been designed to keep your identity safe which includes Zcash and Monero. You can have encrypted transactions every time with these coins.
Conclusion
While it is not very easy to keep your identity revealed when dealing with Bitcoin and other cryptocurrencies, it might help if you follow some basic privacy protocols. Click Bitcoin Digital to know more about bitcoins and other cryptocurrencies that might interest you.
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