It is no secret that Bitcoin is one of the most valuable cryptocurrencies available today. However, there is a misconception that Bitcoin in itself is an anonymous digital asset. In this guide, learn how to buy bitcoin with a credit card and no verification.
The truth is, Bitcoin-like many other cryptocurrencies is traded on a distributed ledger that keeps transaction details. A distributed ledger or blockchain maintains the history of all Bitcoin transactions. So anyone with adequate knowledge and resources would be able to retrieve details of Bitcoin transactions.
With a private identity linked to a particular address, a person can know what amount of Bitcoin is in the address. If this person can connect the individual identity of a recipient of Bitcoin to an address, then the following can also be known;
- The amount of Bitcoin transferred
- The date and time the transfer of the Bitcoin occurred
- The identity of both the sender and recipient of the Bitcoin
Security is a significant reason why many people would want to buy Bitcoin with no debit card/credit card verification. While there are people engaged in illicit activities who prefer anonymity when purchasing Bitcoin. There are also many people involved in legitimate transactions who value anonymity due to genuine security concerns.
Since Bitcoin is a valuable digital asset, owners of large volumes of Bitcoin could potentially become targets of cybercriminals. With a click of a button, hackers can steal large amounts of Bitcoin held in various addresses. What’s more, a dubious Bitcoin transfer cannot be stopped.
There is also no restriction to the volume of Bitcoin that a hacker can steal at one time. This has made many people view buying Bitcoin without debit card/credit card verification as a smart, safe and preferred option.
But how do buy bitcoin with credit card no verification?
You can buy Bitcoin anonymously in the following ways;
Buy Bitcoin Locally
You can buy or sell Bitcoin with someone in your vicinity. There are several sites where you can search for interested buyers or sellers of Bitcoin. It should not be hard to find a seller in your locality. Meet the person face-to-face preferably in a public location like a restaurant.
Ensure that you are comfortable trading with this person. Since you are meeting face to face, you can both decide on the mode of transaction and payment.
This means there isn’t any type of verification as you will be paying in cash for your Bitcoins. Issuing a cheque may not be acceptable to the seller, and it will reveal your identity as well. Furthermore, transferring money to the seller’s account would also reveal your identity.
So if cash is your preferred payment method, make sure you meet the seller in a public place. Bitcoin is a digital asset. Be careful of sellers offering to sell their bitcoins at a price that is way lower than the current market price. This could be one alarming sign you have to look for.
Trade Bitcoin With Other Cryptocurrencies
You can trade your other cryptocurrencies for Bitcoin without having to verify your personal identity. Decentralized Exchanges (DEX) like Changelly allows you to carry out cryptocurrency trading with no ID verification required. Trade your cryptocurrency with other users of DEXs for Bitcoin anonymously using Changelly or other similar DEXs.
Make Use Of Bitcoin ATMs
There are over 1,100 Bitcoin ATMs located in various cities in the US. These ATMs allows you to deposit your cash in exchange for the Bitcoin equivalent sent directly to your bitcoin wallet address. However, like regular ATMs, you could have cameras recording your transaction.
In addition to this, there are some ATMs that may require verification of your personal information. Therefore, look for ATMs that only require you to deposit cash while providing your wallet address for the bitcoin transfer.
Use A Prepaid Credit Card To Buy Bitcoin
There are some service providers and cryptocurrency exchanges that will allow you to buy Bitcoin using a prepaid credit card. For example, Coinmama allows their users to purchase bitcoin without any identity verification. They also allow you to use prepaid cards. Coinmama also allows you to buy Bitcoin via a cash transfer through Western Union. While Coinmama is a good way of staying anonymous while buying Bitcoin, there is the issue of low buying limit. Without verifying your personal identity, you could be limited to buying $150 worth of Bitcoin for a single transaction.
The security of your digital assets is a priority especially when you have crypto as valuable as Bitcoin. Staying anonymous when buying such cryptocurrency is one way to secure your assets from cybercriminals looking for the next victim. You can consider trying out any or all the methods above buying Bitcoin with no credit card verification.
Bitcoin Cryptocurrency for Beginners: Fun Video
As explained in the article, buying bitcoins anonymously will never be simple. There is a hustle that you have to go through, unlike buying through a bitcoin exchange that has a verification process in place. Also, buying bitcoin with no verification usually result in paying a further premium on each coin.
If you decide not going with the listed methods, and still want to buy bitcoin using a cash deposit, then read our review on BitQuick. BitQuick is an exchange known for allowing their customers to buy Bitcoin using cash and bank deposits using your bank account.
We understand that a lot of customers prefer not to share their identification with exchanges due to security reasons. However, that all depends on how much you trust your exchange. But let’s not forget that we usually some of our information online, and there is always the risk of the website or platform being hacked. For example, Yahoo was hacked in 2016 with over 500 million users information accounts swiped.