How to buy bitcoins #
The best method to buy btc is to not reveal your identity. Unfortunately most major btc exchanges require ID, or ones that will keep you anonymous have very high fees. If you have to use your ID, or are just buying with a card that is attached to your real identity it is okay. We will be covering how to break the chain of custody to your identity by converting to Monero later on.
It is your choice to pick the path you want to go in order to obtain bitcoins. If you are just a personal buyer, it will be still fine if you use a non-anonymous method, like a bank wire transfer, as long as you follow the instructions on converting later on.
Can I use fake names/email addresses/. . .? Sometimes you have to give a real name or other identifying data to create an account on the bitcoin exchange. While buying BTC is not illegal, you do not want to make it too easy for law enforcement in case they investigate you. So the general rule of thumb is to use fake/throwaway data as long as you do not break the law with that. For example it is better to create a new email address than using your existing one for creating an account at the exchange. But do not, for example, buy a fake ID to avoid showing your real ID. Keep in mind to not use obvious fake data, i.e. avoid using names like “John Smith.”
Methods - How & Where to Buy Bitcoins #
Paxful
Paxful.com is a P2P trading platform similar to LocalBitcoins where sellers and buyers exchange directly and Paxful provides escrow. It is possible to buy coins without providing ID verification, though the rates are usually higher.
Bisq Bisq, available from Bisq.network (formerly BitSquare.io) is an open-source desktop application that allows you to buy and sell bitcoins in exchange for national currencies, or alternative cryptocurrencies and supports cash transactions. Quoted from their website:
• Instantly accessible – no need for registration or approval from a central authority.
• Decentralized – there is no single point of failure. The system is peer-to-peer and trading can not be stopped or censored.
• Safe – Bitsquare never holds your funds. Decentralized arbitration system and security deposits protect traders.
• Private – no one except trading partners exchange personally identifying data. All personal data is stored locally.
• Secure – end-to-end encrypted communication routed over Tor.
• Open – every aspect of the project is transparent. The code is open source.
• Easy – we take usability seriously.
Mycelium Marketplace
Mycelium Marketplace (previously called “Mycelium Local Trader”) is the P2P bitcoin trading marketplace within the popular Mycelium Bitcoin Wallet available on Android devices. There is a Mycelium Wallet for iPhones, but the Mycelium Market portion of the app is not allowed by Apple. In the app, go to Buy / Sell Bitcoin and then hit Mycelium Marketplace, and you will see any local bitcoin traders for a specified area who posted an ad on Mycelium Market and their feedback on previous trades. Trades are handled through the app, but you meet the trader in person at a public place to make the transaction - usually settled in cash. Mycelium’s headquarters are in the EU, but the app is used worldwide.
LibertyX
LibertyX.com operates the largest cash-to-bitcoin onramp network in the US. It allows you to purchase bitcoin in-person up to $1,000 per day at over 13,000 local stores with only a phone number for SMS verification. For more information, please visit their website, LibertyX.com.
Bitcoin ATMs
There are also Bitcoin ATMs in some places which can be a very easy and reliable way to get bitcoins. Simply search for “Bitcoin ATM map” or “Bitcoin ATMs near
More Ways
• https://en.bitcoin.it/wiki/Buying_bitcoins