One of the most surprising things that people first discover about when you buy Bitcoin is that it is not anonymous.
Sure, your name isn’t on your Bitcoin private or public address, but every road eventually leads to a fiat on or off-ramp, and that’s when your name is connected with your Bitcoin transactions.
Most people know how to buy Bitcoin from exchanges. The problem with exchanges, however, is that they ask you for your details when you sign up.
You can’t partake in buying and selling Bitcoin unless you give your government-issued ID. Big Brother wants to know everything.
But there are ways of buying Bitcoin anonymously, and if you prefer to remain private and not to let anybody know what you’re buying, read on…
Why Buy Anonymously?
Many people don’t understand why any law-abiding citizen feels the need to remain anonymous. They think if you have nothing to hide, no problem.
Everybody is different and most people are willing to give away every part of their online footprint for convenience.
But we’re not talking about Facebook, or Twitter. Bitcoin is real value, and with it being an open ledger and traceable, somebody knowing you own Bitcoin can put you at risk.
Every Bitcoin address associated with your name reveals how many bitcoins you have, when you received them, who sent you them, and who you sent them to, unless the sender and receiver took careful steps to remain anonymous.
So, buying and selling Bitcoin anonymously isn’t just for the drug dealers or the terrorists, it’s for those that value their privacy and safety.
How To Buy Bitcoin Anonymously
Bitcoin is not the best form of payment for anonymous transactions. If you really want to transact anonymously, you’re better off giving cash to somebody while nobody else is there.