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How To Buy Bitcoin Anonymously In Under 5 Minutes!

Eugene Abungana

Last Updated: 30, May 2022

Fact Checked by Gary McFarlane

Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.

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.

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.

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