While many software wallets require identity verification, this isn't always the case. For example, some wallets allow you to buy Bitcoin anonymously to keep your identity secret. This software crypto wallet allows you to buy Bitcoin without providing identity verification. No, Bitcoin is not anonymous, but it depends largely on its use.
While Bitcoin represents monetary freedom, it's also an open ledger, meaning that all transactions verified and added to the blockchain are visible to everyone. You usually need to verify your identity to buy Bitcoin and other cryptocurrencies freely on Globally. However, if you're looking for anonymous transactions, that's also possible. However, buying Bitcoin anonymously will cost 5 to 10% more.
Almost all centralized exchanges require a personal ID to buy and sell cryptocurrency. To buy cryptocurrency anonymously, you'll need to use a peer-to-peer platform. Step Finally, you must enter the cash and wait a few seconds until your Bitcoins are delivered to the address of your Bitcoin wallet. Whether you care about this or if you believe that all bitcoins are created the same way, in-person cash offers a limited opportunity, if any, to check if the bitcoin you are buying can be considered “contaminated” by some of the major players in the cryptocurrency market.
Automatic teller machines (ATMs) where you can buy bitcoins are also called Bitcoin ATMs (BTM). There are many websites that monitor the geography of bitcoin ATMs, such as Coin ATM Finder or Bitcoin ATM Map. Multi-signature wallets (Multisig) offer additional security by requiring more than one signature (key) to authorize a Bitcoin transaction and by dividing responsibility for the possession of bitcoins. Another method to buy cryptocurrencies without identification is to go to the nearby Bitcoin ATM and buy Bitcoins at the cash ATM (dollar, euro, pound, etc.
Bitcoin is not anonymous, since users send and receive Bitcoin by providing their public keys, described as anonymous tags stored on the blockchain forever). Another way to buy bitcoins in the physical world in exchange for cash, which also has caveats, is to use a bitcoin ATM, a machine that you can find in places such as pharmacies, convenience stores and supermarkets. This is an excellent option for buying Bitcoin with a KYC-free process; however, buyers should be aware of the risk of being physically seen by criminals and therefore associating them with Bitcoin. Checking your own balance and transactions, in addition to contributing to the expansion and security of the Bitcoin network, will generate the sense of freedom and self-sovereignty for which Bitcoin was created.
