By Praveen Kannan and Anna Strokolyst The Hotspot Shield team believes the internet should be open and secure …
Bitcoin is a decentralized form of digital currency, meaning it works without any central banking structure or sole administrative organization. It is also very secure because bitcoin transactions are processed electronically with the aid of high-level cryptography. All these qualities make bitcoins attractive to people who treasure their financial privacy and safety.
However, it can be difficult to keep your finances private when buying bitcoins because most online exchanges are linked to your bank accounts or credit cards. The good news is that there are now methods to buy bitcoins while preserving anonymity. Here are four of the best ways you can buy bitcoins anonymously.
Using cash is the easiest way to buy bitcoins. Why? Because cash is untraceable and requires no verification. You can buy bitcoins without having the purchase link back to you.
Buying bitcoins with cash is pretty straightforward. What you need to do is to look for a trustworthy seller somewhere in your vicinity, since you need to make the transaction face to face. Once the meeting is arranged, you exchange cash for the paper wallet that contains the bitcoin private keys—it’s as simple as that.
Use bitcoin ATMs.
There aren’t many bitcoin ATMs around the world, but they are steadily growing in number. Nonetheless, bitcoin ATMs remain one of the best options for buying bitcoin anonymously because you also pay in cash.
When you transact via a bitcoin ATM, you will be asked to input your bitcoin address. You can specify that you don’t have one, in which case the ATM will just print out a paper wallet. The only caveat to using bitcoin ATMs is that they mark up the price of the bitcoins significantly. You can expect an increase of about 5 to 10%.
If you like to travel, you can locate bitcoin ATMs around the world by checking out coinatmradar.com
Use peer-to-peer networks.
Peer-to-peer (P2P) bitcoin networks connect buyers and sellers instantly, and the advantage in most of them is that ID verification is completely optional. You can choose to keep all your personal information to yourself, but you will still receive sufficient information about sellers to know that they are reliable.
With a P2P network, you input a request to buy a certain amount of bitcoins. The network then provides you with a list of people selling the same amount. Once you’ve chosen from the list, the seller will either provide you with a bank account to deposit your payment into or arrange to meet you in person for a cash transaction.
Use Virtual Private Network (VPN) software.
All the ways mentioned above do not require you to divulge any sensitive information, but there is still a possibility of you being tracked by highly-skilled and sophisticated hackers. You can get rid of such a possibility by protecting yourself with a VPN.
Using a VPN is critical because it masks your real IP address and encrypts your data traffic, so you don’t have to worry about any of your information being accessed or stolen by cybercriminals.
Make your bitcoin transactions anonymous with Hotspot Shield.
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Maintain your privacy and security when buying bitcoins. Visit our website and download Hotspot Shield VPN today. You can also read our blog for the latest news in the world of cryptocurrency.