Best Places To Buy Bitcoin Without ID That You Should Know

May 22, 2024 - Around 18 mins mins to read

As concerns around crypto buying anonymity continue to grow, regulators worldwide are clamping down on the industry, making it increasingly tricky to avoid the Know Your Customer process. But there’s still hope. There are avenues to buy and sell Bitcoin anonymously but with some limitations. In this post, we will show you strategies and platforms that will enable you to buy Bitcoin without ID.

Best Places To Buy Bitcoin Without ID That You Should Know 8

Table Of Contents

How to Buy Bitcoin Without ID Anonymously
Best Places to Buy Bitcoin Without ID
Why You Should Buy Bitcoin Without ID?
How to Stay Safe When Buying Bitcoin Without KYC
Conclusion: Buy Bitcoin Without ID
FAQs

How to Buy Bitcoin Without ID Anonymously

At a very overall level, P2P Bitcoin marketplaces have become popular platforms that deal directly between buyers and sellers. Unlike the traditional exchange methods, these offer users a means of setting up deals all by themselves that conventional trading avenues would never be able to match.

The leading benefit of P2P marketplaces has been flexibility. Both the buyers and sellers in such arrangements have the freedom to negotiate prices and payment methods according to preference. This is the best way to buy Bitcoin without ID.

Even though many leading P2P marketplaces require identity verification from their users, some still do not. But for the most privacy-conscious users, that alone might not be enough. One needs to couple such a choice with a payment method that takes care of privacy, such as a cash-in-person transaction.

Best Places to Buy Bitcoin Without ID

Exploring ways of buying Bitcoin without revealing personal information, this amounts to myriad methods and platforms that come with their very unique advantages and drawbacks. Here are some of the platforms you should know:

1. Uphold

Uphold offers access to over 250 cryptocurrencies, which feature some of the most popular in the market, like Bitcoin. Users can interact with these digital assets through various deposit methods, including bank transfers, credit and debit cards, PayID, and direct crypto deposits. Precisely, supporting users who buy Bitcoin without ID puts this platform on our list.

Best Places To Buy Bitcoin Without ID That You Should Know 10

Features

Uphold offers access to a diverse array of cryptocurrencies, ensuring users can engage with new and popular tokens as soon as they hit the market.

By connecting to 26 different exchanges, Uphold secures competitive prices for its users, maximizing potential returns on trades.

Users can set up automated, recurring transactions to leverage dollar-cost averaging, helping to mitigate the impact of volatility in their investment strategy.

Uphold facilitates effortless fund transfers to any Uphold account worldwide using just an email address, streamlining the process of transferring assets among users.

Visit Uphold

Fees

Bid-Ask Fee

For each cryptocurrency available for trading on Uphold, there is a bid-ask spread. The bid price is the one at which one would sell a cryptocurrency, and the ask price is what one would pay to buy one. Uphold charges a spread fee over and above the quoted market price, hence affecting the final cost of the trade.

The company specifically charges 0.8%-1.2% of the trade market value for Bitcoin or Ethereum trades initiated by U.S. customers. For other regions, on the other hand, this would likely average about 1.8%.

Noticeably, for lower-liquidity cryptos, such as Ripple or Dogecoin, the spread is higher. Also, during times of market stress or if there are extraordinary volumes, Uphold adjusts the spread fees. The platform says previewing a transaction is important in finding out the actual spread fee that may apply at any given time.

Spread fees

On Uphold, trading is also allowed with respect to other asset classes. Each one is charged a different spread fee:

For the case of precious metals, a 3% spread fee goes on top of the bid-ask price.
For major fiat currencies, the spread fee is 0.2%.
For the case of U.S. equities, although currently unavailable to U.S. and European customers, the spread fee is usually 1%.

Uphold does not charge additional trading commissions beyond these spread fees; however, users need to understand that sending tokens off to an external crypto wallet might come with charges, which go towards paying third-party transaction fees.

Withdrawal fees

Now, regarding the withdrawal fees, most transactions are free of charge. However, the fee for debit card withdrawals stands at 1.75%. The fee structure at Uphold ensures most of the transactions are cost-effective, having a minimum transaction threshold of $1 and a fixed fee of $0.99 for trades under $500, in order to ensure accessibility to small and large investors.

2. Best Wallet

Best Wallet is a decentralized crypto exchange and digital wallet that offers the ease of use of an intuitive interface, combined with the ability to buy popular cryptocurrencies such as Bitcoin and Ethereum without the headache of a complicated KYC procedure and providing personal details.

The best part about Best Wallet is its minimalist approach towards user registration. Not only do they not require any personal data—no names, addresses, or details of residency—but all it asks for is an email address. Thus, the sign-up process is quick and easy.

And in this world of rush, where time is money, Best Wallet proudly allows its users to sign up and buy Bitcoin in less than a minute. It is perfect for people who want efficiency in their busy lives. Hence, there is no reason why Best Wallet does not make it to the list of best places to buy Bitcoin without ID.

Features

One of the standout features of Best Wallet is its ability to monitor all cryptocurrency balances in one convenient location. Users can easily keep track of their various holdings, eliminating the need to juggle multiple apps or platforms. Additionally, the app offers a watchlist of major crypto prices, ensuring users stay informed about market trends and fluctuations.

But that’s not all. Best Wallet allows users to set up multiple crypto wallets for different purposes, providing unparalleled flexibility and organization. Whether it’s managing personal investments, conducting business transactions, or exploring the world of non-fungible tokens (NFTs), Best Wallet has users covered.

Security is paramount in the world of cryptocurrency, and Best Wallet takes this responsibility seriously. The app boasts robust security features, including support for biometric authentication and the requirement for users to create a unique passcode. Furthermore, users can set an auto-lock timer to secure their wallet in the event of a lost or stolen device, providing peace of mind in an increasingly digital world.

Available for both iOS and Android devices, Best Wallet is accessible to a wide range of users. And with plans to roll out a browser extension in the near future, the platform is poised to become even more versatile and user-friendly.

But perhaps the most exciting aspect of Best Wallet is its upcoming $BEST token airdrop. Users who purchase Bitcoin using Best Wallet will earn points towards this eagerly anticipated event, offering early adopters a chance to reap the rewards simply by utilizing the app.

Best Wallet introduced a seamless solution for users to purchase digital assets using their credit or debit cards.

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Fees

While Best Wallet does charge a modest 5% on transactions, its alternative is cost-effective when compared with other avenues of buying cryptocurrencies. It can be said that fee limitations are also part of the tradeoff for users who are allowed to buy Bitcoin without ID.

3. Bisq

Bisq is, therefore, attractive to all those who search for anonymity while making cryptocurrency transactions, truly being a decentralized cryptocurrency exchange. Bisq is a decentralized bitcoin exchange, using a peer-to-peer model in which user privacy is above everything else.

Most centralized exchanges require the creation of user accounts, but it doesn’t; instead, it lets traders transact anonymously. The process is initiated by downloading Bisq software for Windows, Mac, or Linux systems with no registration required. Bisq is a great place where users can buy Bitcoin without ID.

In simple terms, Bisq acts as a decentralized network in which traders can easily exchange Bitcoin and many other cryptocurrencies. Since it is a decentralized platform, there is no centralized authority controlling the funds in your hands. In fact, Bisq does not hold users’ assets because all transactions are made through 2-of-2 multisignature wallets for added privacy and security.

The user interface of Bisq doesn’t really suit new traders very well, but its decentralized architecture can be very attractive for high-end traders or advanced cryptocurrency enthusiasts who seek the freedom and privacy required to carry on their exchanges. Unlike other platforms, Bisq doesn’t offer an in-built wallet, and this means that to trade Bitcoins, users need their own.

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Features

At the heart of Bisq’s philosophy is its commitment to user privacy. Unlike centralized exchanges that store user data on central servers, Bisq ensures that all sensitive information remains securely on users’ devices, minimizing the risk of data restricted and unauthorized access.

In addition to prioritizing privacy, Bisq boasts a diverse array of supported payment methods, catering to the diverse preferences of its global user base. From traditional options like money orders to digital payment solutions such as Zelle, Perfect Money, and Skrill, Bisq facilitates seamless transactions while maintaining stringent security measures. All transactions on the platform require a security deposit in Bitcoin, which serves as a security measure to ensure compliance with rules and promote safe trading practices.

Transparency lies at the core of Bisq’s operational framework. The platform embraces an open-source model, allowing users and security experts to scrutinize its code for vulnerabilities and contribute to its development.

Strategy dialogues conducted on platforms like Keybase and GitHub further enhance transparency, fostering a collaborative environment where community input shapes the future direction of the exchange. Moreover, Bisq advocates for decentralized management.

Fees

Bisq has low trading fees of 0.1% when trades bring liquidity and 0.7% when they take it away from the network.

Furthermore, Bisq provides a special incentive mechanism through the native $BISQ token. Users who opt to pay trading fees in $BISQ tokens shall get a 50% discount on the paid fees, therefore making trading on the platform quite cheap.

4. Margex

Margex has been the talk of the town when it comes to purchasing Bitcoin without ID. In the case of Margex, you, however, get access to a suite of features, such as spot trading and futures crypto trading, without having to go through KYC processes and verification checks.

Though the process is not all that smooth, it brings in a hack for users seeking anonymity in crypto transactions. Users have to buy Bitcoin with the help of another cryptocurrency, promising users a layer of privacy not really common in most traditional exchanges.

The exceptional thing about the Margex service is keeping the purchased Bitcoin inside the secure and fully-featured wallet service. It doesn’t need users to transfer their tokens to an external wallet; the solution is seamless and private.

Features

With support for over 40+ different cryptocurrencies, including popular altcoins like ETH, USDT, MATIC, and BUSD, Margex offers unparalleled versatility in asset selection. This expansive range ensures that users have access to a diverse portfolio of digital assets for trading and investment.

As a testament to its widespread adoption, Margex boasts a user base exceeding 500,000 individuals globally, solidifying its position as a leading exchange in terms of liquidity. The platform’s impressive order book depth of $50,000,000 ensures optimal exchange rates and seamless trading experiences for users.

Margex prioritizes the security of users’ assets, implementing a robust suite of security features to safeguard funds and personal information. These include two-factor authentication (2FA), encryption of private data, and cold storage of a significant portion of assets held on the platform. Regular audits and compliance checks further bolster Margex’s commitment to ensuring the integrity and security of its users’ assets.

In addition to its security measures, Margex offers an array of innovative trading features designed to enhance the user experience. Users have the option to engage in copy trading, mirroring the trading portfolios of seasoned investors for potential gains. Margex also provides advanced charts and tools for technical analysis, empowering users to make informed trading decisions.

Furthermore, Margex caters to users seeking passive income opportunities through staking options integrated into the platform. With staking capabilities directly accessible from the wallet app, users can earn passive income while securely storing their assets on Margex.

While Margex primarily caters to buying Bitcoin anonymously, the platform also facilitates fiat money payments for added convenience. However, it’s essential to note that fiat transactions may require KYC documents to comply with regulatory requirements.

Visit Margex

Fees

Low fees are one of the defining features of Margex, constituted to empower traders in performing cost-effective transactions. Market orders are charged a taker fee of only 0.06% and a maker fee of 0.019%, ensuring a large chunk of profit retention for its users.

5. Hodl Hodl

Hodl Hodl is a peer-to-peer exchange that is not afraid to show its seven years of operation accomplishments with more than 100,000 registered users. This is an unmissable choice for any user looking for an ideal platform to buy Bitcoin without ID.

What makes Hodl Hodl different is the simple creation of an account by requiring an email address, nickname, and strong password, but no more additional information. Plus, among many exchanges in the cryptocurrency space, it’s among the very top no-KYC exchanges, without intrusive procedures.

After registration, users are taken directly to a simple-looking interface where they can search through listings of Bitcoin that match the parameters of their trading. One of the great features offered by Hodl Hodl is a reputation system that allows users to judge the credibility of their potential trading partners. Further, to provide security to its users, Hodl Hodl uses multi-signature addresses like Bisq to execute the transactions, increasing their confidence in the reliability of the platform.

One more point that is to be noted is that Hodl Hodl only supports Bitcoin transactions and various fiat currency payment methods. Users looking to diversify their cryptocurrency portfolio with altcoins will therefore find Bisq to be a better alternative.

Features

One of features of Hodl Hodl is its commitment to anonymity, offering users the opportunity to engage in Bitcoin transactions without the need for identity verification. Furthermore, the platform boasts support for more than 60 payment methods, providing users with ample flexibility in conducting transactions.

Upon completing a transaction on Hodl Hodl, Bitcoin is transferred directly to the buyer’s private wallet, eliminating the need for intermediaries and enhancing security by minimizing exposure to potential vulnerabilities associated with centralized exchanges.

To bolster trust and mitigate fraud risks, Hodl Hodl implements a robust user reputation system, allowing traders to assess the credibility of their counterparts before engaging in transactions. Similar to its counterpart, Bisq, Hodl Hodl utilizes multi-signature (multi-sig) escrow addresses to facilitate trades, providing an additional layer of security and ensuring that funds are safely held until both parties fulfill their obligations.

Visit Hodl Hodl

Fees

Unlike the traditional exchanges, where users often see prices way above Bitcoin’s spot price, Hodl Hodl keeps relatively competitive commission rates. For buyers, it charges just 0.3%, a figure that at the time of this writing still holds a competitive edge in the broader cryptocurrency trade space.

It is important to point out that Hodl Hodl comes with different trading fee rates based on user status and referral activity:

Standard Trading Fee: All the registered users pay a trading fee of 0.5%.
Referral Program Benefits: Hodl Hodl encourages user referrals by offering a discount on trading fees. The users who refer others to the platform, either using a referral code or bringing in at least one active trader, enjoy a trading fee of 0.45%—less than regular users.

Why You Should Buy Bitcoin Without ID?

People who are privacy-conscious are comfortable with being able to transact in an anonymous manner—buy and sell Bitcoin anonymously. The disinclination to give out private information emanates from an innate feeling that it is uncomfortable with losing privacy. Thirdly, even though not absolutely anonymous, the pseudonymous nature of Bitcoin triggers another motivation in an individual to seek increased privacy in order for his or her transactions not to be linked to his or her identity by blockchain analysis.

Linking one’s identity to a crypto wallet might incidentally invite theft, for it exposes the owner’s location and what he has on hand. Being anonymous foils the would-be thief who may try to use such information to physically cause him or her harm or through sophisticated phishing tactics.

The ability to acquire Bitcoin without undergoing Know Your Customer (KYC) procedures fosters greater accessibility, particularly in regions where regulatory barriers impede access to traditional exchanges. For millions without government-issued identification, circumventing KYC requirements opens avenues to participate in the digital economy and secure assets in unstable financial climates.

In jurisdictions with stringent regulations or outright bans on cryptocurrency, purchasing Bitcoin anonymously provides a workaround for individuals seeking financial autonomy. While not without legal implications, this practice affords individuals the freedom to transact without the constraints of oppressive regulations.

Bypassing KYC verification accelerates the transaction process, offering a swift alternative to the often protracted verification procedures. By eliminating the need for manual review of identification documents, individuals can execute transactions promptly, bypassing potential delays associated with verification protocols.

How to Stay Safe When Buying Bitcoin Without KYC

One crucial aspect of anonymous Bitcoin transactions is the choice of platform. Opting for a trusted and reliable platform significantly mitigates the risk of falling victim to scams and losing funds. Decentralized exchanges (DEX) like Best Wallet offer a promising solution, providing clear guidelines and ensuring that purchased Bitcoins are immediately transferred to non-custodial wallets.

For those venturing into peer-to-peer (P2P) marketplaces, scrutinizing the platform’s escrow mechanisms is essential. Platforms that hold funds in escrow until transactions are completed offer an added layer of security, eliminating the risk of non-delivery by sellers. Additionally, storing purchased Bitcoins in non-custodial wallets is recommended, accompanied by the diligent safeguarding of wallet seed phrases to prevent unauthorized access.

For those prioritizing anonymity, employing a virtual private network (VPN) can conceal their true location and prevent internet service providers from tracking online activities.

Both P2P transactional parties remain protected against fraudulent activities through escrow services. In fact, it is the platforms that have escrow services that ensure the sellers transfer Bitcoin tokens to the exchange so the buyer may be assured before releasing the funds. Further, researching the reputations of the sellers through feedback and ratings on P2P exchanges helps identify reliable counterparts and minimizes potential risks.

Conclusion: Buy Bitcoin Without ID

This is one of the features that people would want to have: being able to buy Bitcoin anonymously. While many crypto exchanges insist on identification when making transactions, a growing number of platforms are joining the market to serve people who like to maintain their dealings incognito.

The purchase of Bitcoin anonymously is sensitive. Users have to be careful to keep their identities away from their transactions and not let them be related to wallet addresses. As much as the aspect of buying Bitcoin in anonymity has changed since the early days of the cryptocurrency, it is no doubt difficult to do today. However, the options are still viable for users who intend to buy Bitcoin without identification.

FAQs

Do you need an ID for buying Bitcoin?

Whether you need to identify yourself in the purchase of Bitcoin will depend on the platform or service you use. Some platforms require that there be some identity verification as part of their compliance with AML and KYC regulations. Requirements will vary from country to country and may also compel the platforms to collect a type of information from their users before enabling them to buy or sell Bitcoin.

Can I buy Bitcoin anonymously?

Yes! Buying Bitcoin anonymously is challenging but not impossible.

Why is buying Bitcoin asking for ID?

Buying Bitcoin often requires providing identification due to regulatory requirements and compliance measures put in place by the platforms facilitating the purchase.

What is the most anonymous Bitcoin wallet?

Choosing the most private Bitcoin wallet would depend on one’s specific needs and threat model. Hardware wallets like Ledger and Trezor are highly secure and private, since they store the private keys offline, which is hard to hack or be tracked, as opposed to online wallets.

How do I pay with Bitcoin anonymously?

Paying with Bitcoin anonymously involves taking certain precautions to protect your privacy. Here are some methods you can take:

Use a privacy-focused wallet
Avoid reusing addresses
Use Tor or VPN
Use coin-mixing services

Can you buy Ethereum without ID?

Yes! Various methods exist for Buying Ethereum without ID, although it may be more challenging than purchasing through regulated exchanges that require identification.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Knowledge

Best Places To Buy Bitcoin Without ID That You Should Know

As concerns around crypto buying anonymity continue to grow, regulators worldwide are clamping down on the industry, making it increasingly tricky to avoid the Know Your Customer process. But there’s still hope. There are avenues to buy and sell Bitcoin anonymously but with some limitations. In this post, we will show you strategies and platforms that will enable you to buy Bitcoin without ID.

Table Of Contents

How to Buy Bitcoin Without ID Anonymously
Best Places to Buy Bitcoin Without ID
Why You Should Buy Bitcoin Without ID?
How to Stay Safe When Buying Bitcoin Without KYC
Conclusion: Buy Bitcoin Without ID
FAQs

How to Buy Bitcoin Without ID Anonymously