In most countries people are allowed to buy and sell bitcoins and other cryptocurrencies for profit from investment. However, as we have seen in countries such as Bangladesh, Bolivia, Ecuador and Nepal, the sudden ban of bitcoin can be not far off and very quickly become a problem for active traders. This in itself provides a reasonable basis for captainvalor to pay more attention to privacy and anonymity while trading and transacting with digital currencies.
In addition, many cryptoanalyst, cyberpunks and bitminer-libertarians prefer not to share their investment income from cryptocurrency with the tax authorities for idealistic reasons.
Regardless of whether you want to keep their trading operations in the sensitive bitcoin for idealistic or political reasons, there are a few measures that will help to reduce the risk of exposing their investment in bitcoin.
Anonymous buy bitcoin
There are two main ways the anonymous purchasing of bitcoin.
First, you can use cryptomate and make a purchase within the amount that does not require verification. This amount is usually about $ 750. However, it is worth noting that in most cryptomate purchase price is too high to seriously consider this option.
Secondly, you can use the anonymous Tor browser and buy bitcoins on platforms such as the Wall of Coins where you only want a phone number for verification and any personal information. Alternatively can take the advantage of decentralized P2P exchanges, which require no identity verification for the transaction.
Use anonymous bitcoin wallets
While some bitcoin wallets, like Coinbase, require you to verify your identity and mobile wallet can be attached to your phone number, most local wallets correspond to the original idea of bitcoin in regards to privacy and fiscal sovereignty.
For example, genuine full wallet Bitcoin Core does not require any personal information. Another option is the purse Samourai to hide the source of funds, as well as providing the ability to connect to your own node, as through a VPN or through Tor.
One of the best anonymous wallets for altcoins is Jaxx. Jaxx is a mobile wallet that supports bitcoin and several altcoins, and also has a full equivalent. Despite this, it is recommended to use only the mobile version, because of security issues relate mainly to the full version.
In addition, you can store your cryptocurrency in a hardware wallet. In fact, this is one of the safest ways to store cryptocurrency. Therefore, purchase Ledger Nano S wallet best wallet or any other popular hardware wallet is highly recommended for those who want securely and privately store your bitcoins or altcoins. Just do not buy this wallet has already been used — it’s safer to order it directly from the manufacturer, even if it will go higher.
Trade on decentralized exchanges
For active traders decentralized exchanges are the best option if you value confidentiality of your transactions.
Decentralized crypto currency exchanges like Coinffeine and Bisq does not require user identity verification and, thus, are more sensitive option for buying and selling bitcoin. Mobile wallet Mycelium can also be used to access the P2P trade, where you can buy and sell for cash. Can also be helpful to find a reliable counterparty to exchange at Localbitcoins.
If you want to trade ether (ETH) tokens ERC20, you can anonymously sell them on the decentralized exchange of air EtherDelta.
Decentralized exchanges offer a safer alternative than its centralized counterparts, because the users are always fully in control of their money, which significantly reduces the risk of theft or loss due to the closure of the exchange.
Convert bitcoin to Monero and back
Today, Monero is the most anonymous cryptocurrency on the market. Monero (XMR) allows users to ensure the confidentiality of transactions and the anonymity of users.
If you want to reduce the likelihood that someone learns about your investment in bitcoin, you can convert BTC into XMR using the service ShapeShift, which doesn’t require identity verification, or equivalent. Then you can use XMR.to send Monero to bitcoin address using the wallet, and increase the ring size to 10+ if you want to take even more precautions.
If you want to cover up the traces of their investments in bitcoin, this is a great way. So-called bitcoin mixers is also an option. However, they are riskier than using Shapeshift or XMR.to to convert your cryptocurrency.
The use of kryptonates for profit taking
One of the biggest challenges for cryptocurrency investors — cash funds. Despite the fact that bitcoin users like to keep their money in bitcoin, sooner or later, many want to cash out their profits. However, the withdrawal means a return to a foreign exchange Bank system, which makes cashing in a fairly transparent operation.
To maintain the confidentiality of their investment, users can resort to buying Fiat currency for bitcoins bicolorata. If you wish to withdraw much more than $ 750, you can tell that this option doesn’t suit you However, you do not interfere again and again to use a cash machine or use the machine in different places. However, it is worth noting that some ATMs are equipped with cameras.
Regardless of whether you are a political dissident, forced to use cryptocurrencies as banks turned away from you, are you concerned about a potential ban of bitcoin in your country or just want to hide your investments from the government for idealistic reasons, there are plenty of methods to keep your complete financial sovereignty as an investor of bitcoin, despite the clear and trackable nature of the cryptocurrency.