How to buy bitcoin and other cryptocurrencies anonymously?

Centralized cryptocurrency exchanges, such as Binance, require KYC verification from their users. This means that we have to send them a photo of the ID card and take a selfie of the face. So is it possible to buy cryptocurrencies anonymously? Yes, it is still possible – but it is a much more difficult process than it used to be. Nevertheless, we will guide you step by step through the whole process of buying cryptocurrencies and bitcoin anonymously. So, here we go.

How to buy bitcoin anonymously?

Unfortunately, buying cryptocurrencies anonymously is no longer so easy. In fact, to buy bitcoin anonymously, we actually have to go to the field – to the bitomat. Bitomat is a device that looks like a traditional ATM, but allows you to buy and sell cryptocurrencies. So how do you find a bitomat in your area? In larger cities, you shouldn’t have a problem with it. For example, in Warsaw, bitomats are often located in larger shopping centers. Nevertheless, the easiest way to find an ATM in your area will be to enter the phrase in the Google search engine “bitomat + city”.

However, bitomat is not everything. You also need a wallet where you can store your purchased digital assets. If you also want to trade them, a no-verification cryptocurrency exchange will come in handy that will act as your cryptocurrency wallet. Here is a list of exchanges that do not require KYC verification to set up an account as of today:

• KuCoin.com
• OKX.com
• bybit.com

Anonymous bitcoin purchase – registration on the exchange

So, first, let’s explain how to set up an account on the exchange without KYC, to which the bitomat will later send anonymously purchased cryptocurrencies. The process is simple and intuitive. All you need to do is follow a few simple steps.

Step 1: Go to www.bybit.com, www.kucoin.com or www.okx.com. We will use the Bybit exchange in our example. Nevertheless, the process is almost identical for the other two platforms.

Step 2: In the upper right corner, press the registration button.

Step 3: Enter all the necessary data and pass the CAPTCHA code. Confirm your account with a code from an SMS or email and that’s it!

Approx. Now that you have a portfolio on one of the above exchanges, it’s time to get down to business. In the next section you will find a detailed explanation of how to buy bitcoin or cryptocurrencies anonymously (without proof).

How to buy crypto anonymously? In the bitomat

You already have an account on the exchange and you have found a bitomat in your area. All you have to do now is approach the device, select the option to buy cryptocurrency (usually it is possible to anonymously purchase the largest cryptocurrencies, such as bitcoin, USDT, Ripple (XRP) etc.), enter the amount for which you want to anonymously buy cryptocurrencies and put the cash into the bitomat.

The device will ask you to enter your wallet address. You can find it on the Bybit exchange (or alternatively KuCoin or OKX) by going to options “Deposit”.

After clicking on this option, you will have to choose the appropriate cryptocurrency (the one you buy at the bitomat). Then on the right you will see your wallet address and QR code. You can manually rewrite the address on the ATM screen. However, this is not a recommended option. If you make any mistake, your funds will be lost once and for all. We recommend scanning the QR code (Bitomat has a code reader and will allow you to do so).

That’s it. You just bought your first cryptocurrency anonymously. Moreover, they are listed on the exchange without verification, which means that you can also trade them anonymously. You can read more about anonymous cryptocurrency trading in the next section of this article.

How to trade cryptocurrencies anonymously?

Anonymous cryptocurrency trading is no different from trading on an exchange that requires verification. The only difference is that you cannot convert assets into fiat currency and withdraw them to your bank account. Nevertheless, you can still trade crypto-crypto, i.e. exchange BTC for USDT and vice versa. To do this on Bybit, all you have to do is go to the section Trade and you click Spot Trading.

Here you can choose trading pairs (1)place a market order, limit or set Stop Loss and Take Profit (2). You can also opt for Margin trading and trade anonymously with up to x5 leverage (3). All you have to do is set the amount of cryptocurrency you want to buy/sell and enter the price you are interested in (4).

Anonymous purchase of cryptocurrencies and bitcoin in person for cash

Another way to buy cryptocurrencies or bitcoin anonymously is to buy with cash from another person. However, this is not a very secure option. In history, there have been many cases of fraud, beatings and other forms of physical violence.

If you want to buy bitcoin anonymously for cash, it’s best if you use an authorized stationary cryptocurrency exchange, e.g. FlyinAtom. However, remember that in this case there will be a transaction limit of 1000 euros. Why? Due to the EU regulations on counteracting money laundering and terrorism, i.e. the so-called AML regulations.

Bitcoin anonymously – summary

As you can see, it is still possible to buy crypto and bitcoin anonymously. However, it’s not that simple. To do this, you need to practice a bit. However, if you put in a little effort, you will be able to trade cryptocurrencies completely anonymously – according to their original idea. But remember that the blockchain is a public ledger. This means that everyone has access to it. Bitcoin is not 100% anonymous, but pseudo-anonymous!

FAQ – How to buy cryptocurrencies anonymously?