Send and receive money anonymously
In the mind of the inventor of bitcoin were two things: establishing a financial platform that will eliminate intermediaries and enable individuals to send and receive money anonymously – Bitcoin wallet without ID.
Every day you carry out a transaction using your debit or credit card, your identity is unmasked. Why? The financial institutions you have accounts with have a chunk of your data. Remember filling your full name, date of birth, occupation, etc. while opening your bank account, right? Now you know how you are being unmasked for every debit or credit card transaction you perform.
Apart from your identity being revealed, your financial institutions know how much you are sending who you are sending the fund to, how much you received and who sent the money. Bitcoin helps you to bypass this, you have a bitcoin address that does not have a number of your data attached to it.
Owing to crimes committed by the anonymity of bitcoin such as illegal drugs and weapons, as well as some other reasons the most government has come up with regulations that have made it difficult to buy cryptocurrencies without ID on most exchange platforms. When you buy bitcoin and other altcoins, you are mandated to provide the exchange platform with some of your data. Also, the information you have provided needs to be verified by uploading your ID (international passport, driver’s license, etc. depending on the exchange platform) and statement of account.
Once you upload these documents, I am afraid that you are not purchasing bitcoin anonymously. Truth be told, it is rather becoming difficult to buy bitcoin without an ID. However, there are still ways around this.
Bitcoin wallets that do not require ID
Below, you will read about bitcoin wallets that do not require ID.
LocalBitcoins was founded sometimes in June 2012 in Finland. This platform allows people from over 248 countries to ‘trade’ (buy and sell) bitcoin with the aid of numerous payment platforms like PayPal, intrabank transfer, etc. Because LocalBitcoins is not a centralized exchange platform, people can trade with anonymity.
When you are registering your account here, you do not need to provide any personal details as such. It is worthy to note that some sellers might not want to sell to people who are not verified. If that is the case, kindly move on to the next available seller. Another way to strengthen your anonymity is to use a secure VPN when you are running transactions on LocalBitcoins.
- Bitcoin ATM
There are quite many bitcoin ATMs around the world. Importantly, not all of them will allow you to buy bitcoin anonymously. Visit coinatmradar.com, to check the locations of bitcoin and also the ones that allow you to get bitcoin anonymously.
Now that you have purchased your bitcoin, the next task is to store them anonymously.
- Software Wallet
These are quite popular and easy to use. The wallets can be downloaded on your PC. A good example is electrum.
- Mobile Wallet
As the name suggests, a mobile wallet allows you to store your bitcoin anonymously on your phone. You can send and receive coins on the go! An example is the bread wallet.
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Bitcoin wallet without ID