Generally, before anyone can buy Bitcoin and other cryptocurrencies freely across the globe, they will need to verify their identity. But many people prefer to do anonymous Bitcoin transactions for different reasons. So, they wonder if it is possible to buy Bitcoin without verification.
Yes, it is possible to make anonymous transactions even with your credit card. In this post, we will be showing you how to buy Bitcoin with credit card without verification. We will also touch on some reasons people prefer this type of transaction. So keep reading to discover everything the post has to offer.
Why Make Anonymous Bitcoin Transactions?
The truth is that Bitcoin is not completely anonymous. The blockchain provides complete transaction history that allows a diligent person to discover your identity. For instance, if someone attaches an identity to the addresses you are transacting with. They can easily find out how much Bitcoin was transferred to you and when the transaction occurred. So, for this reason, and many more, many people prefer to have anonymous Bitcoin transactions. Below are some more reasons:
- Bitcoin is completely decentralized, and there is no authority that can halt a suspicious transfer
- Sometimes, remaining anonymous might be the smart and safe choice
- Some customers don’t have enough trust in the exchange platform
- Not able to buy with identity proof because of the location of the buyer
- Someone involved in espionage activities would prefer to be anonymous
- Some people prefer to keep their finances private for some reasons
How to Buy Bitcoin without Verification
There are a couple of ways to buy BTC while staying anonymous. One common way is to buy with your credit card, and another is to use a Bitcoin ATM. Some exchanges allow users to buy Bitcoin on their platform without having to verify their identity. But some of them require additional fees to make this type of transaction.
Some exchanges like Coingate, Paxful, Coinbase, LocalBitcoin, etc will allow you to anonymously buy your BTC without verification. Let’s look at how you can do that with one of the exchanges.
How to Buy Bitcoin with Credit Card without Verification on Coingate
Coingate has been one of the most reliable exchanges out there when it comes to buying Bitcoin and other cryptocurrencies. The platform offers a wide range of payment methods, including the use of credit and debit cards. Much more, Coingate allows you to buy Bitcoin with credit card without verification. The process is simple on the platform. Below are the steps to follow:
- Go to Coingate dedicated page for such transaction
- Specify the amount of Bitcoin you want to buy or how much you want to spend on Bitcoin
- Provide your wallet address
- Input your credit card details
- Wait for your Bitcoin to be sent to your wallet once payment is confirmed
Buy On a Bitcoin ATM
Buying your Bitcoin using a Bitcoin ATM is another way you can buy BTC without having to verify your identity – but with cash. You only need to locate the nearest Bitcoin ATM to you and buy from the ATM by cash currency, such as Dollar, Pound, Euro, etc.
When the machine asked you to enter your Bitcoin address, just specify that you do not have one. That will cause the machine to automatically generate a new paper wallet for you. You can then later import the private key from the paper wallet and send the BTC wherever you want.
Is It Safe to Buy Bitcoin with Credit Card?
The method is completely safe – just like buying with any other method. Purchasing your BTC with credit card is fast and secure. However, when buying, ensure you buy only from a trusted source. There are lots of scam sites out there looking to steal away your money.
Tips to Use Bitcoin Anonymously
Here are some useful tips to help you use and make Bitcoin transactions anonymously:
- Bitcoin Mixing: this is a process that helps you break the traceability of your transactions. Bitcoin Mixing breaks the link between Bitcoin addresses by creating temporary addresses. You can then swap coins with other addresses of the same value.
- Buy or sell Bitcoin in cash: doing face-to-face cash transactions is one excellent way to make anonymous transactions. Using a Bitcoin ATM is one way to do that.
- Use Tor-Onion router: using the Tor browser to connect with the Bitcoin network will help you stay anonymous.
- Use new addresses at all times: there are some HD (Hierarchical Deterministic) wallets that allow you to generate different receiving addresses. So whenever you are receiving Bitcoin, you will be using a new address for that.