How to Buy Bitcoin Without ID
Can I Buy Bitcoin Anonymously?
Bitcoin was founded on the concept of freedom and decentralization, wasn’t it? So, what’s the deal with having to show ID before buying it?
Well, yes and no. Bitcoin has never been totally anonymous — we’ll call it pseudo-anonymous. Meaning that even though your name isn’t connected to it, your wallet address is, and anybody can look up any transaction on the public blockchain ledger.
But having said that, there are a few ways to buy bitcoin without having to submit ID or create an account. They’re not all desirable, safe or easy, but here are the top 3:
Peer-to-Peer (P2P) Trading
There are many different versions of this method, but they all involve making a deal with a holder of bitcoin to purchase it from them directly. You can meet these sellers in person (usually at a coffee shop, casino or other neutral-but-potentially-seedy public location) or you can do the trade online or with a bank wire. Of course, anything but face-to-face is going to involve some type of digital trail and probably some type of account or paperwork — and in-person meetings have a lot more unknowns.
But whatever site or service you look at, the common denominator is that you’re dealing with another person, not a company, bank or exchange.
- Somewhat private transaction, depending on the deal you make
- Customizable (what, where and how much are up to the two parties)
- You need to really trust the other person
- Often you must meet them face-to-face in questionable locations
- There’s no guarantee of safety or security
- The other person might scam you or steal your money
There are sites, like OpenBazaar, which act like cryptocurrency versions of eBay. So, it’s still P2P, but instead of trading money for bitcoin, you’re trading stuff for bitcoin. You can empty out your closet, clean out the attic or hit some local yard sales, and sell your finds on the site. So, if you have the time (to find things to sell, to create listings, monitor listings and wait for them to sell), you could make a little money this way. But it’s probably not the fastest, and definitely not the easiest method.
- No fees to buy or sell
- No ID or credit cards required — just bitcoin
- Could be fun
- This requires some work and isn’t directly “buying”
- Time commitment is required to source items and create listings
- It will likely take some time to sell your stuff once listed
- You have to ship out physical items once they sell
- You have to install the software on your computer
Bitcoin ATMs (BTMs)
By far the easiest and safest way to buy bitcoin is with a Bitcoin ATM, or a more advanced Digital Currency Machine, like a Coin Cloud DCM. And if you’re only buying a limited amount, you don’t need ID … just a mobile phone.
Trading over the minimum amount requires one form of ID, because BTMs have Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols in place, similar to banks. But if you’re using a standard mobile phone, and looking to trade a small amount, you can use a BTM without submitting ID. (Note that if you’re using a “burner” phone, this may not be possible, or the limit might be much lower.)
- Buy or sell crypto with cash
- Quick, easy and secure transaction
- You only need a mobile phone number (ID for higher amounts only)
- You don’t have to deal directly with another person
- Much safer than trading P2P
- Rates may be slightly higher than online exchanges
- There might not be one near you (but more are being installed all the time)
- The amount you can buy without ID is limited
If you’d like to try a Bitcoin machine, Coin Cloud lets you do so for as little as $1 USD. With over 1,000 machines nationwide, more than 60% of all two-way BTMs, live customer support 7 days a week and proven ease of use, Coin Cloud kiosks are the top choice of many people for buying bitcoin without ID.
Disclaimer: The information and views supplied by Coin Cloud are for educational and entertainment purposes only. We are not financial advisors, so please do your research and consult with a trusted financial specialist before investing your money.
What is Coin Cloud?
Coin Cloud is a digital currency machine (DCM) company founded in 2014 in Las Vegas, Nevada. With over 1,400 locations nationwide, Coin Cloud is the world’s largest and fastest-growing network of two-way DCMs, a more advanced version of the Bitcoin ATM. Over 60% of all two-way bitcoin machines in the US are Coin Cloud DCMs, empowering you to quickly and easily buy and sell 30+ virtual currency options with cash. You can find your nearest Coin Cloud DCM here.