Everything You Need To Know!

Share:

How to Buy Bitcoins Anonymously with Credit Cards

Table of Contents

How to Buy Bitcoins Anonymously with Credit Cards

If you’ve been following any of our online guides, or taken a look online for cryptocurrency trading platforms that support credit cards and debit cards, you’ll know that it’s just about impossible to find one.

Not only that, when you pair the task of finding a credit card-friendly trading platform with anonymity you’re almost entirely out of luck. Almost.

There isn’t a malicious or unlawful reason for the lack of credit card support though. Most platforms do avoid the payment method down to the ultra-high fees and the fact that most traders would prefer to opt for a different route. You could lose up to 6 per cent, or even more in some cases, when investing with credit cards and that eats up a lot of your Bitcoin gains.

In this article we’ll take a look at how to find a crypto asset trading platform that supports paying with plastic, and also is going to keep you safe and secure while doing so.

We know a lot of our crypto investors adore the currencies because of their ability to keep us safe and private, though, credit cards are tightly linked to our identity and this proves and issue for most people — so take a look below for a little help.

Yes. Crypto is Secure

How to Buy Bitcoins Anonymously with Credit Cards

One of the main reasons the cryptocurrency game took off so quickly for traders back in the day was because of the fact that users and investors had a right to keep on top of their privacy. If you didn’t want to be linked to a transaction or even a dollar amount of BTC, you had that right.

We were able to circumvent the centralised banks (which is not illegal) and move to invest, trade, swap, buy, sell and earn without being controlled by the big banks.

Bitcoin was the first cryptocurrency to appear that gave us all a lot more control over our finances than ever before, and as a result, government and private financial institutions jumped on the currency to force-regulate it.

Today, when you buy Bitcoin or any other crypto asset, you need to verify your identity and tie your name to it. However, there are still a few loopholes and avenues for anonymity inside these regulations, and we’re here to help you make use of them.

If you’re looking to buy Bitcoins with a credit card anonymously, continue reading.

The Legality of Anonymous Investing

For our investors who are a little on the fence with anonymous investing in crypto, we have a few short points for you to keep in mind.

To start, all cryptocurrency exchanges in the US are required to comply with all local regulations, which includes the AML or Anti Money Laundering regulations. On top of this, the Know Your Customer, or KYC law is also a policy that must be adhered to by all exchanges based in the country.

In the US, for example, it isn’t illegal per se to buy Bitcoin anonymously, however, you will be looking to circumvent these laws — which your exchange is unable to do.

That said, you will need to look to an International exchange for your investment in Bitcoin through your credit card. Ideally an exchange in a country that doesn’t require the above regulations to be followed.

The Anonymous Bitcoin (BTC) Exchanges

How to Buy Bitcoins Anonymously with Credit Cards

Keeping in mind that to buy Bitcoin with a credit card, securely and incognito you’ll need to head abroad, we’re going to give you a few pointers below.

These exchanges are based outside the US, are still a secure bet and give you access to buying Bitcoin without tying all the transactions to your identity. As we mentioned, being outside of the States means that the platforms aren’t legally required to hold your personal information — which isn’t illegal.

Take a look at the anonymous Bitcoin exchanges below.

BitQuick

How to Buy Bitcoins Anonymously with Credit Cards

A rather social media-style or physical transference exchange, the BitQuick exchange gives you a platform to find a Bitcoin seller and you’ll be able to converse and convene when it’s time to sell the coins.

The platform is good for deal-making prior to a handoff and it gives you the chance to use an escrow for the Bitcoins so you’re not at risk of having anything stolen. The seller will pay Bitcoin into an escrow account, then when the Bitcoin lands in your account your funds will be transferred to the seller in a safe and secure way.

In all, this platform is ideal for anonymity though it’s always important to be wary and smart about who you choose to invest with as there isn’t a verification process to vet and confirm someone’s identity.

LocalBitcoins

How to Buy Bitcoins Anonymously with Credit Cards

Founded back in 2012, LocalBitcoins is a popular global platform for exchanging Bitcoins through a peer-to-peer method. You’re able to follow a similar experience as BitQuick and agree with sellers on the cost of their Bitcoins and move funds to an escrow account for a safe, risk-free swap.

It’s good to note that there is free and open communication here too, so you’re able to talk directly with the traders or sellers and negate a good price and simple trading method.

Again, the Escrow set up here ensures security so you’re not at a high risk of being the victim of a scam.

Wall of Coins

How to Buy Bitcoins Anonymously with Credit Cards

One exchange that is available in the US and Canada as well as parts of Europe including Latvia, Germany, Poland and southeast Asia is Wall of Coins.

This Bitcoin exchange gives you the ability to buy your Bitcoins with cash. As expected, this adds a tonne of privacy and anonymity when investing and a big perk of working with fast-moving cash funds is that your Bitcoins can be approved and made available to you within just fifteen minutes.

As we mentioned at the start of the article, there’s no verification or registration required so you’re kept nice and secure.

You will have to provide a phone number, though this is only for confirmation and trade-related SMS messages. You can use an anonymous number here too if you’re not too keen on supplying a phone number tied with your identity.

Bitit.gift

How to Buy Bitcoins Anonymously with Credit Cards

For our European readers, the Bitit.gift platform is the exchange for you. You’re able to purchase your coins with various payment methods and aren’t required to go through major ID verification processes, making sure that everything’s kept nice and secure.

For those outside Europe, you’re still able to purchase gift vouchers and redeem these in Bitcoin stores.

Bitcoin ATM

How to Buy Bitcoins Anonymously with Credit Cards

Lastly, not exactly an exchange in the traditional sense, you’re able to head down to a Bitcoin ATM in your local area.

Whether in Australia, the US, Europe or just about anywhere else, these ATMs allow you to insert cash for your Bitcoins. As expected, cash is relatively untraceable and, of course, doesn’t require a verification process to be undertaken.

However, there is credit cards supported here too, and without ID required you can swipe your card at these ATMs and invest in your Bitcoins.

Keep in mind that there is a premium fee for this service, and you can expect to pay upwards of 5 per cent to 10 per cent depending on the ATM service you choose — however, for anonymity this cost might be worth the reward.

Answering Some Questions

If you’re new to Bitcoin investing or unsure about why anonymously investing in cryptocurrency is a ‘thing’ we have some information for you below.

Why Skip Verification or ID’ing

How to Buy Bitcoins Anonymously with Credit Cards

Aside from the most obvious and rather murky reasons such as money laundering and illegal activities, the most common reason to skip verification is simply because of the lack of documentation on hand.

A lot of the time, investors don’t have easy access to the required documents in the time of a price drop or ‘Buy Recommendation’ and want to get in as fast as possible. Sometimes, as you might already know, verification can takes weeks or even months depending on the exchange, and getting in without ID and buying Bitcoin with a traceable credit card is the easiest option.

There’s also the thought of sharing private and personal information that some buyers of Bitcoin simply don’t want to do — and this is their right and your right as an investor.

Does Lack of Verification Increase Scam Risk

How to Buy Bitcoins Anonymously with Credit Cards

To keep the answer short: in some cases, yes.

Without verification, it is harder for exchanges and trading platforms to keep a close eye on who and what is going on, on their platforms. That said, you could be the victim of a scam and not have anywhere or anyone to turn to, as there’s no name or ID tied to the transaction.

We suggest that to reduce your risk of falling victim to Bitcoin credit card scams, that you do all of your research and correctly vet the people you’re looking to trade with. A lot of platforms do have ratings or reviews under each trader’s account so you’re able to see if they’re a reliable or safe person to trade with or not.

If you’re trading in real life, or off the screen, it’s good to have someone else come with you and to make sure that you’re going to a public place. Don’t run the risk of being actually a victim of physical theft, so keep it public and open and don’t go alone.

Where Do I Put The Coins?

How to Buy Bitcoins Anonymously with Credit Cards

Lastly, if you’ve anonymously invested in Bitcoin with a credit card, you’ll want to keep them stored in a way that doesn’t tie you to the coins. That means keeping them stored in an offline wallet that is ideally a hardware variant.

These wallets are the best option for you as they’re not tied to your name and also totally offline, so there’s no chance of anyone finding and stealing these coins either.

Final Thoughts

How to Buy Bitcoins Anonymously with Credit Cards

All of the above said, it may be a little more difficult and legally challenging to invest in Bitcoin anonymously and with a credit card, but it can still be done.

At the time of writing, the method is in a legally grey area and most exchanges will only allow you to do what’s deemed legal in their locations. That said, investing without verification in Bitcoin with a credit card won’t be too difficult if you know where to look.

However, we do highly suggest that you remain compliant with local taxation and income laws and don’t use an unverified and anonymous means of Bitcoin investment to circumvent income tax, capital gains tax and other financial regulations.

In all, play by the rules, do your best to stay safe and don’t exploit anonymous investment in Bitcoin.

Recommended way to buy bitcoin in Australia is Swyftx

YOU MAY LIKE

How To Buy Safemoon In Australia

How To Buy Safemoon In Australia 2024

This tutorial will explain the best way to purchase Safemoon in Australia. You’ll also learn how to buy Safemoon in a cryptocurrency exchange—step-by-step. In addition, this tutorial will include

Read More >