How to Buy Bitcoin Without ID Verification in 2020?
There are plenty of options on how to buy Bitcoins these days. Regardless of the upcoming economic crisis people still look for investment opportunities and cryptocurrencies still remain one of the good options to consider.
It is clear that the first step in cryptocurrency investment is the purchase and Bitcoin is the best option to consider, taking into account its popularity and growth perspectives. Actually, it is the oldest and the most valuable cryptocurrency on the market, making it the most desirable digital currency.
For many people, it might be a terrifying experience to buy this cryptocurrency for the first time. At this point, you have to learn what are the options to buy Bitcoins and how to keep your new investment secure. Here, you have to understand that Bitcoin is pseudo-anonymous and you have to think about personal data protection while buying or selling it.
If you are not a first-time buyer you might care about your privacy even more and look for the way to exchange bitcoins without verification. This guide will help you to understand how you can purchase Bitcoins, what are the advantages of buying them anonymously, and how to do that in the most efficient way.
How to choose the right way to buy Bitcoins?
When you are choosing the proper exchange for your needs you have to consider the following list of factors as a start:
- Privacy — are you ready for the leakage of your personal data? If not, you likely to avoid such payment methods as credit cards, PayPal, bank transfer and other methods requiring verification of your personality in the purchasing process
- Limits — are you planning a limited amount of coins or a large sum? If you plan to buy a large sum of Bitcoins at a time than you require a personal broker or consider exchanges without a buying limit
- Speed — how quickly you want to access your Bitcoins. You have to understand — different payment methods will deliver your digital currency at various speeds.
- Exchange rate — it might be a surprise for the newcomer, but Bitcoin does not have such official prices as other world currencies. You have to check its price at various exchanges to choose the one fitting your requirements.
- Reputation — you have to choose a reputable purchasing place. Cybercriminals consider the cryptocurrencies one of the most prospective sources of income. The amount of scams increases at the exponential speed and people lose their personal data even without any notice.
- Additional fees — the fees significantly vary across various payment services, hence you have not to forget to investigate how much your chosen exchange plans to charge for the transactions
- Payment method — this is the most important thing to consider. Where you plan to purchase your Bitcoins. There are various ways to perform your transactions and you have to investigate them all to understand their advantages and drawbacks.
How you can buy Bitcoins?
The first step is to create a wallet, consisting of the public and private keys. As you understand you have to keep your private keys as secure as possible. If someone gets access to your private data, you will never see your Bitcoins again.
The next step is to choose the payment method for your purchase.
Let’s explore the most popular options to pay for Bitcoins:
- Credit or debit cards — one of the most common ways to purchase cryptocurrency as most people are familiar with it. Such an option is the easiest and you have not to wait for Bitcoins delivery as they come to your wallet right after the transactions complete. But, it is not a private way to buy and there are high fees for the transactions you might not like to pay.
- Bank transfer — also one of the common purchasing options. Its advantage is the great purchasing price as the transaction fees are relatively low, but you have to provide your ID and wait for up to 5 days for the purchase to be completed.
- Cash — one of the fastest ways to get Bitcoins. In most cases, it is private enough and you do not have to wait for a long time to get your coins on board. You can use a cash exchange, which is not a perfect option as it has substantial transaction fees and you have to be aware of scams. The other option is Bitcoin ATM, which is more private, although privacy will cost you 5–15% above the market rate.
- Another cryptocurrency — if you have another cryptocurrency, for example, Etherium, you can easily buy Bitcoins through the crypto exchange. You just choose the exchange with the best exchange rate and perform the transaction. That is one of the most secure ways to perform the transactions as you can also use anonymous crypto exchanges in the process.
You can also consider payment through PayPal, but the fee of 12% makes even credit card purchases more preferable.
Finally, you have to decide on the purchasing platform. Here, you have to take into account not only the payment method chosen at the previous step but also how much private information you plan to disclose.
What platform to choose for buying Bitcoins?
In recent years most of the exchanges have started to follow KYC policy rules, which means that you have to disclose a significant amount of private information during the transactions. But, it does not mean that no KYC options are not present. For example, ATMs, where you can buy Bitcoins with cash, do not ask for any verification of your identity.
The other purchasing platforms to consider are:
- P2P marketplaces — where buyers and sellers meet and trade. One of the most popular marketplaces of such kind is LocalBitcoins. Here, you can set your own price and wait until someone will sell you Bitcoins. The price will not necessarily be the most important criterion. Indeed, the reliability of the seller or the buyer, as well as the proposed conditions will also be decisive. As we have already mentioned, the role of LocalBitcoins is to ensure the security of the transaction. You, therefore, have information on the seller and the buyer and in a particular note on their reliability, the number of transactions made. The conditions of sale or purchase differ from one offer to another. Once the bid is accepted by the seller or buyer, bitcoins are pledged by Localbitcoins and will only be released once both parties have confirmed that they have completed their obligations. In case of disagreement, a third party will be appointed to study the evidence and decide. Therefore, it is essential to only use Localbitcoins messaging to communicate with the seller or buyer. Some sellers/buyers will require that your identity has been confirmed by the LocalBitcoins site, but not all. It is possible to buy bitcoins without verification either through buying with cash deposit or meeting in person.
- Bitcoin ATMs — You can buy bitcoins at a kiosk with a credit card or in cash. Although the operation of these terminals varies from one manufacturer to another, they are studied to be particularly simple. It is usually sufficient to follow the instructions. No verification of your identity is required to use bitcoin distributors and you can use cash. There are also some disadvantages to this option. For example, the fees are higher than if you buy your cryptocurrency on an exchange. The service rendered by the distributor at a price (purchase and maintenance of the machine, rental of the location …), and you will have to pay for this service. These fees range between 6 and 10%, which corresponds to the fees charged by brokers like Coinhouse or Coinbase.
- Direct commercial exchanges/broker — in this case, you have the third party in transactions working as a digital exchange office. You just visit a website, choose your payment method, and purchase the required amount of Bitcoins. The prices are set by the platform, but the fees are relatively low, hence this option is one of the easiest to use for transactions. A similar option is to choose a broker as an intermediary who buys wholesale bitcoins in order to resell them at retail. These are just simple resellers, as we currently know sellers of precious metals (gold, silver …). There are a large number of brokers available today. The advantage of using a broker is usually the ease of use. On the other hand, brokers sometimes offer personalized advice for people who have difficulties with technology. This is particularly the case of the bitcoin house which offers appointments in their Parisian shop. Obviously, brokers take a large commission between 6% and 10% of the amount purchased. On the other hand, brokers are regulated and must verify your identity before you can sell cryptocurrencies. However, the amount of your purchase is almost always a limit to the number of bitcoins you can acquire.
- Exchange platforms — you can choose this option if you plan to buy a large number of Bitcoins. Here, you can place your order and the exchange will process the trade on your behalf. But the process to start an account can be complicated enough and requires disclosure of private information. You can also find a platform where you can buy bitcoins without verification, such as anonymous crypto exchanges. But before choosing the one it is a good thing to investigate its reputation, exchange fees and purchasing limits.
When more and more cybercriminals are interested in the crypto market, you have to think about the ways to protect your privacy. In the court of public opinion, there’s a widely held belief that the main reason anyone might want to buy cryptocurrency anonymously is so they can pay for all manner of illicit goods and services in the hidden corners of the dark web.
But while there’s definitely some truth to this idea — after all, anyone involved in illegal activities would have good reason to want to cover their tracks — there are also plenty of legitimate reasons why someone might want to buy bitcoin or some other crypto without any ID.
Why might people want to buy Bitcoins without an ID?
There are a number of reasons why people might want to care how to buy bitcoins without ID:
- If you’re worried about crypto exchanges being targeted by hackers and your personal information (including your driver’s license/passport details) being stolen.
- If you own a lot of cryptos and don’t want to be targeted by thieves.
- If you don’t trust the government.
- If you don’t have any ID
Finally, there’s also the simple fact that the ID verification process on some platforms can be frustratingly slow, particularly during times of increased demand. If you want to purchase crypto as fast as possible to take advantage of an anticipated price change before it occurs, buying without ID verification might be a quicker option. The additional advantage is making your cryptocurrency accessible to the estimated one billion people around the world who don’t have proof of ID and keep your personal information private.
We at Godex.io care about the privacy of our users and provide a simple and straightforward way to buy Bitcoins without verification. The transactions can be completed in several steps:
Step 1: Choose the currency you plan to exchange
Step 2: Fill in your wallet address information
Step 3: Wait for the deposit — Godex generates the bitcoin address for your transaction. When it will be created you can start the transactions
Step 4: Process the exchange — the platform finds the best rates on the market and process the transaction as quickly as possible.
When the transaction is completed you can see its result on the “completed” page. If you look through the customer reviews you will understand that we care much about our clients. If any problems appear in the transaction process it can be solved on a 24/7 basis. We care about your privacy and guarantee the fixed fees and complete anonymity of your transactions.
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