How to Buy Bitcoin Anonymously in 2024

Bitcoin transactions aren’t tied to the sender’s or receiver’s identity. However, buying Bitcoin often leaves a trace, especially when using fiat money. Global policymakers are increasingly tightening AML regulations, making it challenging to enter the market privately.

This guide explores where and how to buy Bitcoin anonymously in 2024. Discover proven methods used by seasoned investors when avoiding KYC requirements.

Best Places to Buy Bitcoin Anonymously

Knowing where to buy Bitcoin without KYC can be challenging, considering traditional exchanges typically ask for ID documents. Below, we discuss five places that support anonymous Bitcoin trading.

1. Best Wallet – The Overall Best Option When Buying Bitcoin Anonymously

• Fee for Buying Bitcoin: Built into the quoted exchange rate

Best Wallet is a great option when buying Bitcoin without ID. It’s a hybrid mobile app that offers non-custodial storage and a decentralized exchange (DEX). Meaning, you can buy Bitcoin privately and safely store the coins without relying on third-party custodians. The first step is to download the Best Wallet app for iOS or Android.

Like other wallets, you’ll need to go through a set-up process, such as activating two-factor authentication and choosing a PIN. Then, visit the Best Wallet DEX and complete the purchase form. Users can select their preferred currency, such as GBP, TBH, EUR, or USD. Traditional payment methods like Visa and MasterCard are accepted.

Not to mention local options like mobile transfers. The purchased Bitcoin will be added to the Best Wallet balance a few seconds later. Fees are built into the quoted exchange rate, depending on the currency, amount, and payment method. In addition to Bitcoin, Best Wallet supports 60 other blockchains, including some of the best altcoins.

2. Margex – Top-Rated No KYC Exchange Supporting 150+ Payment Methods

• Fee for Buying Bitcoin: Built into the quoted exchange rate

The next provider to consider is Margex, one of the best crypto leverage trading platforms. This is a great option to buy Bitcoin without ID, before trading perpetual futures. Margex supports long and short trading with leverage of up to 100x. Not only on Bitcoin but dozens of other popular cryptocurrencies.

Margex is a no-KYC exchange, so opening an account only requires an email address. Users can then purchase Bitcoin instantly with over 150 payment methods. This includes everything from Visa and MasterCard to Google/Apple Pay and UnionPay. Margex doesn’t charge deposit fees, but there will be a market spread.

This is built into the quoted exchange rate when filling out the order form. No slippage is charged either, so the rate you see is exactly what you pay. The purchased Bitcoin will immediately be added to the Margex account. You can withdraw the BTC to a private wallet, use it to trade, or earn staking rewards of 3%.

3. Exodus – Best Option for Buying Bitcoin Anonymously With Other Cryptocurrencies

• Fee for Buying Bitcoin: Built into the quoted exchange rate

Exodus is an established non-custodial wallet trusted by millions of investors. It offers a wallet app for iOS and Android, plus desktop software for Mac, Linux, and Windows. Exodus supports not only Bitcoin but also over 50 other blockchain networks. This includes everything from Cardano and Solana to XRP, Ethereum, and Litecoin.

Exodus doubles up as a top-rated swap platform, meaning you can instantly obtain Bitcoin by swapping other cryptocurrencies. Just type in the payment coin and amount, and a real-time swap fee will be quoted. The coin will be deducted from the Exodus wallet balance and replaced by Bitcoin in seconds.

No KYC requirements are in place when performing crypto swaps. However, this often isn’t the case when using Exodus’ fiat service, with most providers requesting ID documents. Therefore, swapping coins is the best option to remain anonymous. Do note that Exodus is free to use, making it an ideal choice for traders on a budget.

4. AlphaX – Trade Bitcoin Anonymously With Leverage of up to 125x 

• Fee for Trading Bitcoin: 0.02% (Takers), 0.05% (Makers)

AlphaX is another option on this list that specializes in leveraged crypto products. It enables users to trade Bitcoin perpetual futures without revealing their identity. Getting started simply requires an email address. Deposits can be made with ETH or USDT. Fiat payments aren’t accepted, which could be a drawback for some.

Nonetheless, leverage of up to 125x is available on the BTC/USDT pair. This means a $50 balance can be amplified to $6,250. Moreover, AlphaX supports long and short trading, plus a wide range of charting tools. This includes technical indicators and deep order books. We found that AlphaX is also a great choice for low trading fees.

It charges 0.02% and 0.05% to market makers and takers, respectively. This means you’ll never pay more than $0.50 for every $1,000 traded. AlphaX also supports popular altcoins, including some of the best meme coins. This includes everything from Pepe and Shiba Inu to Bonk and Popcat. 24/7 customer support is available via live chat.

5. BloFin – Invest in Bitcoin Privately and Instantly From Just $15 

• Fee for Trading Bitcoin: Built into the quoted exchange rate

BloFin is a popular trading platform that supports spot and futures markets. It supports hundreds of trading pairs, ranging from Bitcoin and Ethereum to up-and-coming meme coins. BloFin also provides leverage facilities of up to 125x. This makes it a great choice for accessing a large amount of Bitcoin with a small capital outlay.

BloFin is a no-KYC exchange, so it’s just a case of entering an email and password when joining. You can then buy Bitcoin instantly via fiat on-ramp providers, including Alchemy, Simplex, and Unlimit. Dozens of currencies are supported, including USD, GBP, PHP, INR, and EUR.

Accepted payment methods depend on the provider but typically include Visa and MasterCard. Like many platforms, fees are built into the quoted exchange rate. The minimum purchase requirement is an affordable $15, or the currency equivalent. Once the payment is made, users can withdraw Bitcoin to a private wallet or earn 3% on savings accounts.

How Anonymous Is Bitcoin?

Bitcoin is pseudonymous rather than being 100% anonymous. Transactions aren’t tied to the sender’s or receiver’s identity. However, transactions are linked to Bitcoin addresses. These are transparently posted on the Bitcoin blockchain, allowing users to track transactions to and from identified wallets. Thus, there is a such thing as anonymous Bitcoin transactions.

That begs the question – how are Bitcoin wallets associated with their owner’s identity? The most common tracking method for Bitcoin buyers happens whenever they are purchasing Bitcoin with fiat money. They open an account with a regulated crypto exchange, provide personal information, upload KYC documents, and proceed to purchase Bitcoin with their preferred payment method.

Then, the investor withdraws that Bitcoin to a private crypto wallet, which offers anonymous storage. However, the investor is technically no longer anonymous; all futures wallet movements can be tracked and linked back to the original purchase. This is also the case when buying a Bitcoin hardware wallet, considering payment details and a shipping address are needed.

Ultimately, to own Bitcoin anonymously, you need to enter the market without providing personal information. This includes KYC documents, payment details, and social security numbers. You also need to obtain a private wallet without revealing identification data. Only then can you invest in Bitcoin 100% anonymously.

Why Do People Want to Buy Bitcoin Anonymously?

There are many reasons why people prefer to buy Bitcoin anonymously.

We’ve summarized the main reasons below:

• Personal Principle: For many, it’s simply a personal principle to buy Bitcoin (or any investment product) without having to complete KYC procedures. These intrusive measures not only require personal information but also government-issued ID and proof of address. Investing anonymously avoids these pain points.
• Avoid Tracking: All Bitcoin transactions, including wallet movements, are publicly accessible on the blockchain. This means wallet balances can be tracked, once the respective address is known. Buying Bitcoin with KYC documents increases the likelihood of wallet addresses being linked to real-world identities.
• Restricted Countries: Some people live in countries that have an outright ban on Bitcoin ownership. This goes against the Bitcoin ethos of inclusivity. Therefore, buying Bitcoin anonymously allows people to enter the market without fear of prosecution.
• Data Breaches: Another reason why people buy Bitcoin anonymously is to avoid data breach risks. This happens when an exchange or broker is hacked, and KYC documents are leaked.

Benefits and Drawbacks of Buying BTC Anonymously

The pros and cons of buying BTC anonymously are summarized below:

Popular Methods When Buying Bitcoin Anonymously

Let’s take a closer look at the most popular methods for buying Bitcoin anonymously.

No KYC Exchanges 

One of the best methods is to use a reputable no KYC exchange. These platforms enable users to register an account without providing personal information or KYC documents. Oftentimes, only an email address is required.

Users can then buy or trade Bitcoin anonymously. However, there are some considerations to make. First, no KYC exchanges often have purchase and/or withdrawal limits. Exceeding these limits can trigger KYC requirements, so ensure you’re aware of them before starting.

Additionally, no KYC exchanges typically partner with on-ramp providers. These are third parties that process fiat payments. While some offer anonymous Bitcoin purchases, others don’t. Therefore, check which on-ramp providers are supported before registering.

Bitcoin ATMs

Another popular option is to use a Bitcoin ATM. These look like traditional ATMs but offer Bitcoin instead of local currency.

Here’s how it works:

• You find a local Bitcoin ATM and select how much to buy. Let’s say you opt for $100
• The Bitcoin ATM offers a real-time conversion rate. For instance, you might be quoted 0.0016 BTC for that $100 purchase.
• Next, you insert notes into the ATM, ensuring the full $100 is covered.
• The Bitcoin ATM will then ask for your wallet address via a QR code.
• Open your Bitcoin wallet and let the ATM scan it.
• The purchase is complete, and the Bitcoin should arrive in 10-20 minutes.

Do note that there has been increased scrutiny of Bitcoin ATMs in recent years. The UK’s Financial Conduct Authority (FCA) continues to seize Bitcoin ATMs from unregistered vendors.

What’s more, some ATM providers have implemented KYC requirements. This means users might be asked for a government-issued ID before proceeding. Therefore, research which Bitcoin ATMs offer anonymous purchases and go from there.

Best Practices When Buying Bitcoin Anonymously

We’ve covered the top ways to buy Bitcoin anonymously. Now, let’s explore some best practices to ensure your privacy is retained.

• Use a VPN: It’s wise to have a VPN installed before buying Bitcoin. This will hinder your true location, ensuring you can’t be tracked. Ensure the VPN is set in a country supported by the chosen platform.
• Use Non-Custodial Wallets: You’ll need a wallet to store Bitcoin anonymously. Ensure it’s a non-custodial wallet that doesn’t collect data or IP addresses. Just remember – buying a hardware wallet, while non-custodial, will leave a trace. This is because you need to provide payment details and a shipping address.
• Bitcoin Mixers: Mixing services ‘mix’ Bitcoins to obscure previous transactions, helping users achieve anonymity. Do note that in most jurisdictions, Bitcoin mixing platforms aren’t illegal. However, they’re often used by criminals for money laundering purposes, so think wisely before using them.
• Use Password Managers: A common mistake made by Bitcoin holders wishing to remain anonymous is using the same passwords with different platforms. This can link the user’s identity to the Bitcoin wallet, especially if KYC was previously completed. Consider using a password manager to avoid these errors.
• Privacy Browsers: You might also consider using a privacy-focused browser when buying Bitcoin anonymously. Brave is a good option. It doesn’t log website usage or share data with third parties, ensuring privacy is retained.
• Convert via Privacy Coins: Another option is to convert Bitcoin to a privacy coin like Monero or Zcash. You can then convert the privacy coin back to Bitcoin, ensuring a new wallet address is used.
• Anonymous Payment Methods: Using a traditional payment method doesn’t provide complete anonymity, considering it’s registered to your name. Instead, use an anonymous payment method like prepaid cards or vouchers.

Conclusion

We’ve explored how to buy Bitcoin without ID, and what best practices to follow to stay safe. Overall, we rate Best Wallet as the top option.

Best Wallet enables users to buy Bitcoin with local currencies and payment methods. The purchased Bitcoin is instantly deposited into the Best Wallet balance, which offers anonymous and non-custodial storage.

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