How To Buy Bitcoin Anonymously In Under 5 Minutes!
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Bitcoin thwarted the future of traditional investments by giving early investors abnormally high returns. It came as a real disruption for the finance and investment sector and has since continued to be a good asset for investment. The digital currency’s transactions were all anonymous in the early days. That’s no longer common because most transactions are recorded under the investor’s real identity. As long as you leave any trail like your physical address, phone number, or identity document, you lose anonymity. It’s only a matter of time before any authority with the right resources and commitment de-anonymizes your activities. Investing in Bitcoin anonymously might be safe sometimes. This is a step-by-step guide for buying Bitcoin anonymously in the US 2022.
Table of Contents
How to Buy Bitcoin Anonymously- Step by Step Guide 2022
If you would like to purchase Bitcoin anonymously immediately, here are four easy steps that you can follow. It will take you less than five minutes to start investing without identifying yourself. eToro is the best place to put your money in the virtual coin anonymously.
- Create an Account: Sign up with eToro to get a trading platform for buying Bitcoin anonymously.
- Get a Prepaid Card: Purchase a prepaid card anonymously to help you pay for your coins.
- Deposit: Fund your trading account with your anonymous prepaid card.
- Get Bitcoins: Place and trade and buy Bitcoins anonymously with eToro.
Benefits of Buying Anonymously
Confidentiality
There are many reasons why you may want to stay confidential in your Bitcoin dealings. One of them could be to remain compliant with your employer’s policies. If you want to keep your crypto investments away from the knowledge of your colleagues and employer, the best way to do this is by investing without revealing your identity. As long as there is nothing linking back the Bitcoins to your identity, you are safe.
Security Reasons: Bitcoin is a high-value investment that is easier for fraudsters to target as compared to physical assets. Good hackers with some information about you could take advantage of it to try and trace your Bitcoins and steal. Even if you are using an encrypted connection, hackers could study certain patterns and use them to tip them off if they are keen. They can steal your digital currency or figure out more who you are in real life and start harassing you. Cryptos, was created to solve the issue of safety during transactions and reduce scams, but that can only be made possible by investing in them anonymously.
Confidence
Privacy is vital for any investment. It’s equal to a safety belt in a car. You’d feel exposed and vulnerable to put your money in any project without an aspect of privacy in it. Buying Bitcoin with debit cards for example could expose one to identity theft. This is an issue that affects millions of people in the US, and it happens because their personal information leaks to the wrong hands during online transactions. Buying Bitcoin using your personal info promotes identity theft, but to make this almost impossible, consider purchasing the asset anonymously.
Peace of Mind
You get to be at ease when you no longer have to be scared that someone will steal your Bitcoins. When you are sure that cases of identity theft and security breach are unthinkable, your heart will be peaceful. These together with other uncountable benefits are what you get from putting your finances in the digital coin without revealing your personal information.
Bitcoin Anonymous Account Regulation
We all know that Bitcoin was officially legalized in the US in 2014, after the release of Notice 2014-21 of the IRS. But what were the terms of legalization? Is it lawful to buy Bitcoin anonymously? There are two main concerns that were addressed before allowing US citizens to continue using Bitcoins:
Money Laundering
Bitcoin was the best route for cleaning dirty money in its early days. Even today, criminals still try to use it to convert proceeds of fraud into legal spending power. Terrorists also prefer this coin as a mode of payment and financing their activities. To curb these illegal practices, the US now requires that all crypto transactions must pass through a licensed broker.
Taxation
The tax you pay in the US goes in many places, including paying government workers and the provision of common services. The federal government claims taxes for creating a reliable business environment that enabled us to earn. So they need more funds to continue serving the community. Tax defaulters face prison terms or high fines depending on the state. The IRS now requires that all proceeds from trading Bitcoin should be taxed.
The question that many might have is how whether it is possible to pay taxes and use a licensed exchange yet still remain anonymous. The answer is yes. There are exchanges that do not require you to submit your identity documents immediately after sign up. For example, you can buy up to $2,000 worth of Bitcoin via eToro without verifying your account. Using an anonymous prepaid card will keep you away from any hackers that might be after your identity and personal data. It is not easy to remain anonymous if you intend to spend tens of thousands of dollars on this coin. As a norm, exchanges will ask for further verification when you start transacting huge sums of money.
They must do this in compliance with the government and in the joint fight against money laundering. So if you’re looking to stay anonymous, you must be willing to invest only up to a certain limit. Different Bitcoin providers have their limits when it comes to this kind of transaction. We recommend eToro because it gives you a high limit of $2,000. Most brokers have a lower limit. For example, Bitquick and has a ceiling of $400 when investing in Bitcoin anonymously.
Where to Buy Bitcoin Anonymously
1. eToro
eToro is a multinational CFDs and crypto provider serving over 20 million traders globally. It was established in 2007 and has since then grown to acquire numerous exchange licenses in different parts of the world. They include the US, UK, Australia, and Cypress. The broker has a wide customer base in more than 200 nations. eToro is our top pick for buying Bitcoin anonymously. It’s difficult to be completely anonymous if you want to transact huge sums of money. The US government requires all brokers to conduct a KYC verification on their customers. Some brokers however allow you to transact invest a certain amount of money anonymously. When looking at these brokers, you need to go for the one that offers you the highest limit.
Out of hundreds of exchanges that we found, eToro turned out to have the highest transaction limit for Buying Bitcoin in the US anonymously. You can spend up to $2,000 without verifying your ID and Address on eToro. The best part is that the platform supports prepaid card payments for investing in BTC. So you can hide your identity even much more by using an anonymous prepaid card for transacting. Bitcoin is a high-value investment and experts predict that BTC price will hit highs of up to $200,000 by the end of 2022. And if that trend holds, we could see it reach prices of over $300,000 or even $500,000 soon. If you invest your $2000 today, it will be valued at more than $20,000 in a few years’ time and all this will be anonymous.
Trading with eToro gives you a lot of perks apart from the high anonymous transaction limits. First, you get to buy invest in Bitcoin commission-free. High trading commissions can be a big factor affecting your profitability in crypto trading. With zero commissions, you can take advantage of short-term price movements and still make good profits. The cost of funding your eToro wallet with a prepaid card is also nil. You will only spend $5 to process your withdrawal, which is almost negligible compared to how much you have already saved. Bitcoin is a volatile asset and it can wipe away a huge part of your investment if you don’t make a bad trade. If you’re an amateur looking to put your funds with Bitcoin using eToro, this should not be a big deal.
The platform has the best copy-trading solution. You don’t need to have any trading skills to start making money with this broker. All it takes is finding profitable traders and copying their trades. The process is 100% automated. You just have to link your account to a successful portfolio, specify your risk, and activate copy trading. You will start making money without having to do anything. Subsequently, you can be sharpening your skills so you can also become a pro trader one day. Join eToro trading school for free. Here there are numerous trading materials to help you improve your skills. You don’t have to enroll for any paid course because eToro offers learning you need to go from amateur to pro trader.
Signing up with eToro is as simple. You can get your account now in less than five minutes by clicking on eToro. Just submit a username and password. eToro invests a lot in user experience design. There are no boring procedures. The platform is user-friendly and also appealing to the eyes. It comes with a top-grade fraud-prevention security system to keep you safe from hackers and malicious online programs. Easily access your trading account via your web browser, iOS, or Android App. Apart from that, the company keeps client funds in a segregated account. This means that your money is always safe, even if eToro runs into any liquidity issues. You will love their fast email and chat support. And lastly, you don’t just have to put all your money in Bitcoin. With eToro, you have access to over 18 cryptocurrencies. They include Ethereum, Dogecoin, Tezos, Dash, XRP, Bitcoin Cash, Ethereum Cash, and Uniswap.
eToro Fees
| Commission | 0% |
| Deposit charges | 0% |
| Withdrawal charges | $5 for bank transfers only |
| Extra fees | $10 per annually after a year of inactivity |
| Pros | Cons |
| Commission-free trading | Lacks advanced technical analysis tools for the pro trader |
| Free Deposits with eToro | |
| Do-it-yourself trading platform | |
| Access over 2000 markets | |
| CFTC and NFA protection |
67% of all retail investor accounts lose money when trading CFDs with this provider.
2. BitQuick
Bitquick is a crypto platform that is popular for anonymous trading. It doesn’t support any other method of payment apart from cash. The downside is that has a low transaction limit of only $400, compared to eToro where traders can invest as much as $2,000 without revealing their identity. BitQuick opened its doors as “BuyBitcoins.us” in 2013, but later changed its name to “BitQuick.” Its headquarters are in Ohio, and it currently prived services in more than 45 states in the US. It works with Bank of America and any local credit union. Identification is optional unless you’re investing more than $400. Unlike most platforms, the transaction process using this exchange is unique. Users don’t open an account to buy Bitcoin anonymously. Anyone with a crypto wallet can use this broker.
The platform only accepts five FIAT currencies, the US dollar, EURO, Russian Ruble, Canadian dollar, and Australian dollar. You will have a limitation when it comes to digital coins as you can only buy Bitcoin on the exchange. It does not offer any other asset. Transaction fees are only levied on the buyer. You pay 2% of the amount you’re investing in each transaction.
You only need your email address to place an order with BitQuick. Go to the website, click “Buy,” then specify the amount you want to spend, and hit the “Continue” button. The platform will give you a list of banks. Pick one that is closest to you, accept the terms and conditions a click on “Buy.” You have 3 hours to go to the back you chose and make a physical cash deposit. This is the only way to purchase Bitcoins using this broker. Wire transfers are prohibited. Check deposits and all forms of e-transfers are also not supported when using BitQuick. Take a picture of your deposit slip and upload it to BitQuick using the link that was sent to your email. After verification of payment by the seller, you will receive your coins within no more than three hours. The platform’s interface is great,
BitQuick is a peer-to-peer platform so you can buy any amount of Bitcoin as long as there is someone available to fill your order. The platform claims that you can even start with $10. There is a maximum limit of $10,000 per transaction when using this method to get Bitcoins in the US 2022, but only after verification. Some banks may also have internal limits that could hinder you from spending more than $5000 or even less on every purchase with BitQuick. The liquidity is good and there are no price requotes since you’re not buying from the direct liquidity pool. The flip side is that you may not always get favorable prices since sellers mark them up for protection against volatility.
BitQuick Fees
| Commission | 2% |
| Deposit charges | 0% |
| Withdrawal charges | 2% for bank transfers only |
| Extra fees | $0 |
| Pros | Cons |
| No price requotes | Limited payment methods; only cash |
| Accepts anonymous purchases | No instant buying |
| Easy to use | 2% commission |
| Low transaction limit of $400 |
67% of all retail investor accounts lose money when trading CFDs with this provider.
eToro – Buy Bitcoin Anonymously Commission – Free
Step 1: Create an Account
Sign up with eToro to get a trading platform for buying Bitcoin anonymously. Registration takes less than two minutes. Since we are not going to verify our account by submitting ID and proof of address, a username and secure password are all it takes to get started. Visit eToro’s homepage and click “Join.” Enter your details and click “submit.” It’s that easy. You can now use your credentials to log into the platform and get familiar with it.
Step 2: Get a Prepaid Card
Purchase a prepaid card anonymously to help you pay for your coins. You can get a prepaid card from your bank, or at the nearby mall. Anonymous prepaid cards do not require you to submit ID details during registration. You will give your name, but these details are not verified. You may want to purchase a card that comes with a balance to avoid topping it up from your bank account. Remember you want to hide your identity as much as you can. eToro allows a minimum deposit of $200, so make sure that your balance is not less than that. You can top up your card with up to $2,000. This is the highest ceiling for anonymous transactions.
Step 3: Deposit
Now that you have set up a trading account and acquired an anonymous prepaid card, you need to add money into your eToro wallet. To do so, go to “Deposit,” then select “Debit/Credit card,” and enter the amount that you want to invest. You will notice there are many other methods of funding your eToro account like Skrill, Neteller, Wire Transfer, and PayPal. We chose a prepaid card because it’s the best method for remaining unknown, out of the available options on eToro. Prepaid card deposits are instant, so money should reflect in your eToro wallet within seconds.
Step 4: Get Bitcoins
Conclusion
Buying Bitcoins anonymously can be a long shot without proper guidance. Many investors fall into the hands of scammers as they try to find the best ways to buy the asset without revealing their identity. The US government takes offense in any transaction that doesn’t go through a licensed platform. Although such brokers require verification, there is still a clever way around it. Find exchanges that allow you to transact a certain minimum before submitting your identity documents. A broker with a high minimum anonymous transaction limit will serve your needs appropriately. That is why we recommend eToro for purchasing Bitcoin anonymously in the US 2022. Consider getting a prepaid card that does not require identity confirmation during purchase. Make sure you acquire one that has a balance so that you won’t need to use your bank account to top it up. Once your eToro account is ready, you can use your card to invest in BTC in under five minutes without confirming your identity. This method is safe and secure, so go to eToro and start.
eToro.com – Best Platform to Buy Bitcoin Anonymously
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FAQs
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