When Satoshi Nakamoto launched Bitcoin in 2009, he described it as a “peer-to-peer electronic cash system”. Ironically, today, many crypto whales, holders, traders and investors are relying heavily on various centralized exchanges to act as an intermediary when processing trades.
These centralized exchanges developed as a result of a massive crackdown on decentralized platforms by governments due to fraud, terrorism funding and Money laundering concerns. However, there are many p2p exchanges that still drive towards keeping Satoshi’s vision alive.
Pervasive government surveillance, Identity thefts and phishing are problems that we all face in global finance today. And p2p exchanges are here to solve these problems, allowing you to trade without giving away much of your private information and bio-data.
Trading Bitcoin without Verification is also termed Anonymous trading. It is one of the ways the p2p exchanges allow you to trade and invest in bitcoin without giving away your bio-data as part of some flimsy KYC/AML requirements.
Why Anonymous Trading Is Important.
Many people often wrongly associate the desire to trade anonymously with criminal intent. But this can’t be further from the truth.
As a matter of fact, whenever you give away your data on the internet, there is a risk of that data being intercepted by hackers, sold to marketing agencies or used in other nefarious ways on Darkweb forums without your consent.
Furthermore, anonymous trading also adds a layer of security to your transactions. Since your identity is unknown, transactions cannot be traced to you and as a result, you cannot be targeted by hackers or tracked down by government agencies. You must take your privacy seriously especially when you trade on the internet.
Where Can You Trade Bitcoin without Verification?
Peer to peer exchanges are the most reliable Crypto exchanges where you can trade bitcoin without KYC/AML verification requirements.
In addition, P2P crypto exchanges remove third parties from crypto transactions and allow users to buy/sell directly with each other. They also generally charge less gas (transaction fees).
You must be thinking “where can I go to gain access to unrestricted bitcoin trading?” Well, here are a few options that you can look at.
Best Crypto Exchanges to Trade Bitcoin Anonymously
Hodlhodl is a peer-to-peer crypto exchange that allows you to trade bitcoin anonymously. It offers over 200 payment options. You get to trade high volumes of BTC without any form of KYC whatsoever. It is available to crypto traders worldwide except in the US.
Whalesheaven is one of the top crypto exchanges which allows users to trade anonymously. Along with optional KYC, you get a multisig wallet technique to provide the best available decentralized protection of your funds and best rates while trading. You don’t get to see any withdrawal fees or limit on this platform.
Bitfinex is one of the oldest and most reputable Peer-to-peer Bitcoin exchanges. It also supports a wide range of altcoins. As long as you stay with Crypto, you can trade on Bitfinex completely anonymously.
How to Trade Bitcoin Anonymously In 5 Easy Steps
Here’s how you can easily trade Bitcoin without any KYC verification using a P2P exchange.
- Choose your desired Crypto Exchange and Register for a free account. Usually, only an email address is sufficient. You may add a phone number to beef up your security with 2-factor authentication.
- Create a wallet address. Use your Public Key to receive payments.
- Pick a seller/buyer that you’d like to trade Crypto with. You can also create a new trading advertisement for anyone that may wish to trade with you.
- You send the payment to an Escrow holding hosted on the platform
- The seller sends Bitcoin straight to your wallet.