How to Buy Bitcoin Online Anonymously and Privately

It hardly needs explaining why you would want to keep bitcoin ownership private. To put it simply it really is nobody elses business what you do with your own money or where or how you want to keep your wealth.

In the future it's likely that government scrutiny of bitcoin ownership will seem as archaic as the state's intrusion into its citizens' sexual or religious preferences. By that time Bitcoin may well be worth considerably more than it is today.

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The steps you take now to ensure your privacy will probably prove very valuable in the coming future.

Remember Bitcoiners in 2011 and earlier years who considered they didn't need to hide their ownership only to find they are now really sitting ducks now that their Bitcoins skyrocketed in value ten or more years later.

Buying Bitcoin in small amounts anonymously is relatively easy but if you want to accumulate larger quantities without jumping through hoops it can be more difficult.

We're all aware of the common practice of using fake personal details when logging in to public wifi and the same can be done when buying Bitcoin at ATMs and terminals like Coinstar machines.

If you purchase Bitcoin that way you'll need a burner telephone or a secondary SIM card that's not tied to your real identity. Or alternatively you could search for “receive sms online” to find a service providing a one-time number.

In addition to Bitcoin ATMs which you can use to purchase some hundred Dollars worth of crypto at a time, peer-to-peer sites like Localbitcoins allow you to locate sellers in your country or area.

And better still, if you have friends or acquaintances in the cryptocurrency industry or friends mining crypto, you may be able to buy Bitcoin direct from them because they will likely need to sell some of their coins, from time to time, for fiat currencies in order to cover their own day to day expenses.

Note that newly mined coins are particularly precious because they have no previous associated history.

Purchasing Bitcoin face-to-ATM or face-to-face can of course bring its own risks, particularly from a privacy point of view, so if you want nobody at all to know about your business -- neither the miner you’re buying crypto from, nor the surveillance cameras watching you feeding bank notes into the Bitcoin ATM -- it's preferable to transact online.

And despite this removing the need for cash, there are privacy advantages elsewhere.

Anonymously Buying Bitcoin Online

It's somewhat difficult to find a Bitcoin marketplace that won’t require "Know Your Customer" identification, but there is at least one platform worth checking out for Privacy and its name is Bisq.

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What Bisq might lack in spot prices and liquidity it makes up for in privacy. The payment methods the peer-to-peer marketplace accepts are extensive and face-to-face is even an option if you are fortunate enough to live within range of the seller.

In general you'll need to pay via an e-wallet or by bank transfer and although this does make for some compromises it becomes easier to disguise the nature of the transaction using a generic bank reference, e.g. "car" or "video editing".

Just as Localbitcoins.com connects you to sellers willing to meet face-to-face, it will link you online in a way similar to Bisq.

As previously mentioned, if you're paying by bank transfer you can mention whatever you like on the pay-in reference because mentioning “bitcoin” on a bank reference might result in account suspension.

Note that this may change in due course but by the time it does, banks will likely no longer be relevant and, if they still exist at all, they will likely be begging bitcoiners for their business.

It’s easy to set up a Localbitcoins account using a private email account, such as Swiss-based Protonmail, and a fake social media account and burner number if you are really cautious.

HodlHodl is another peer-to-peer market platform where verification is optional rather than enforced. The number of offers available is not high but HodlHodl does offer a wider range of cryptocurrencies including XMR and EOS.

Buying Private & Staying Private

Anonymity shouldn't stop the moment you've bought Bitcoin. You can continue anonymity by privacy-centric crypto wallets and by avoiding transactions to exchanges that are enforcing a *Know-Your-Customer" policy as well as avoiding reuse of addresses.

In the future, just like Bitcoin itself, privacy is very likely to become an increasingly precious commodity, so the steps you take now to preserve and maintain your privacy will likely pay you dividends in the future.

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