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Bitcoins and anonymity

Practically, you reveal your identity multiple times in a day. 

Even more, you reveal your identity, when you use traditional methods of payment such as debit cards or credit cards, or your bank account.

This is because your bank has all the details that you only have provided your bank with while filling up your form.

In addition to that, whenever you send or receive money electronically, your bank knows how much you’re sending and to whom you’re sending bitcoins. 

And that’s where Bitcoins hit differently. It allows you to trade on a peer-to-peer basis. Meaning you do not need to reveal your real identity. 

When you send or receive funds, they are sent and received on an address that is made up of alphanumeric strings, consisting of a public and private key.

You won’t need third-party interference to trade bitcoins.

As mentioned already, your digital currency is linked to an address that does not consist of any of your details. 

The main aim for letting users transact anonymously was to eliminate third parties and provide users with quick and hassle-free transactions.

You must be sure that when you make your first bitcoin purchase, you should remain anonymous. This is because everyone can view your transactions on the blockchain network. This makes you easily traceable on the web.

There are anonymous bitcoin exchanges that exist to allow you to trade anonymously. 

  • LocalBitcoins

Created in 2012, this wallet allows more than 200 countries to trade via different payment methods.

  • It allows users to trade on a peer-to-peer basis. 
  • It means you’re allowed to trade directly without the interference of a third party.
  • It lets you trade anonymously.

You’re given the facility to make payments in 20 different methods.

When you register an account, you won’t be asked for any of your personal information or identity documentation. 

Another advantage of this platform is when you purchase bitcoins from LocalBitcoins, you are not charged any fee as a buyer. You only need to pay the amount that the seller is charging for the bitcoin that you’re buying. 

Along with that, ensure that you’re not scammed into paying more than the current market price. This is one of the options on how you can buy Bitcoins anonymously. 

Once your transactions are completed on this platform, you can transfer your funds to an anonymous Bitcoin wallet that you find suitable for your currency and needs. To ensure better anonymity you may also use a secured VPN connection to trade bitcoins on Local Bitcoins. This will help you in hiding your IP address and location from where you’re accessing the network and making transactions, from others.

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