Coincorner is a UK-based online store that allows users to exchange Bitcoin. The company, which was first formed in 2014, does not require its users to pass KYC as long as the amount they want to spend is less than 900,- GBP. What’s more, you can download an e-bank card as a mobile app, where you are able to deposit the funds on and make unlimited trades. Apart from Bitcoin, the company allows users to purchase multiple cryptocurrencies, including Ethereum and Litecoin.
Table of Contents
- 1 Use a Bitcoin ATM instead
- 2 Ready to buy crypto without ID?
- 3 Frequently Asked Questions
- 4 Why do people prefer to buy Bitcoin without ID?
- 5 What is the best way to exchange BTC without ID, on P2P exchanges?
- 6 Why is it difficult to buy crypto without ID?
- 7 Is it safe to verify my ID?
- 8 Are there other methods to buy BTC and avoid ID verification?
- 9 Are there other ways to protect my privacy?
Use a Bitcoin ATM instead
Bitcoin ATMs are a great way to buy Bitcoin, especially for people who wish to stay away from exchange platforms. They offer the possibility of cash payments and will always support your local currency, which adds to their convenience. All you need to do before you buy your coins is to create a Bitcoin wallet. Bitcoin ATMs come in different shapes and sizes and are created by different companies around the world. Therefore, you will most often see different designs for each device. While there is an ongoing effort to implement verification processes to these ATMs, most will not ask for your personal information. In most cases where verification is needed, the only thing that will be asked from you is to verify your phone number. That’s all! So, after that is done, what is the best way to discover and make use of a Bitcoin ATM near you? For starters, you can visit CoinATMradar. The website contains a map with pinned locations. All these locations represent Bitcoin ATMs, and they are presented with detailed information.
Click on one of the ATMs and you will be able to see more information about the specific device. You will get to know the limits of each device, what verification methods are needed, if any, how to best reach the location, and the times of availability for the customer support. Most often, ATMs will allow single Bitcoin purchases up to $1000 without ID verification.
Ready to buy crypto without ID?
The process may seem daunting at first but is actually pretty easy to follow. All you need to do is get accustomed to the methods described in this article. The only option that allows unverified Bitcoin purchases for up to $10.000 per year, is Paybis. Thanks to our near-perfect TrustPilot score – which is probably the highest among other cryptocurrency exchanges on this list – choosing Paybis the obvious choice. The exchange is built to provide instant, easy and smooth transactions for users of all experience levels. And if questions still remain, our 24/7 live support is also here to assist you with any problems you encounter. You can reach out via email, phone or by using the live chat option. So, if you are looking to purchase Bitcoin without ID verification, the options presented here are your best bet. Make sure you read through our FAQs, to better prepare for your purchase.
Frequently Asked Questions
Closing, we would like to touch upon some of the most commonly asked questions from our community, when it comes to purchases without ID verification.
Why do people prefer to buy Bitcoin without ID?
There are many reasons for which someone may not want to give their personal information to a third party. These include:
The time needed for some exchanges to verify your identity
Customers‘ trust towards an exchange platform
Inability to buy with ID due to an individual’s location
Strong preference to maintain anonymity
What is the best way to exchange BTC without ID, on P2P exchanges?
Many people tend to avoid the use of cash trades due to the risks involved. In this case, the best exchange methods would include bank transfers, e-money services, and gift cards. The platform that has the most options when it comes to e-money services is LocalBitcoins. However, the one that has the highest limits for purchases made through e-money services is Paybis.
Why is it difficult to buy crypto without ID?
Most people tend to think that cryptocurrencies are always bought anonymously. This simply isn’t true for the following reasons:
Regulated space – as aforementioned, regulatory parties are now imposing new limitations on cryptocurrency exchanges. This is especially true for exchanges that are based in the United States, as they require more governmental certifications to be qualified as an exchange.
Pseudo-anonymity – Bitcoin is not truly anonymous. Users send and receive Bitcoin by providing their public keys, which are described as an anonymous tag. However, a better term to describe BTC would be a currency that provides pseudo-anonymity.
An easy way to understand this transaction method is by looking at authors that write under a pseudonym. If the identity of the real author is discovered to be linked with the pseudonym, all their previous work will be instantly linked to them. Your public address is like that pseudonym. Every transaction you make with Bitcoin is stored on the blockchain forever. So, if your identity is linked with a public address (and thus whitelisted) – all previous transactions can easily be linked back to you.
Is it safe to verify my ID?
With most exchanges, verifying your ID is a perfectly safe practice to follow. You will not only be able to make future transactions much faster but you will also qualify for higher limits. That being said, some exchanges have been the victims of hacking. From this list, the only platform that has been hacked in the past is BitQuick. While the platform claimed that no personal information was stolen, it is best to be very careful when conducting trades on that platform.
Are there other methods to buy BTC and avoid ID verification?
Read more: How to Buy Bitcoin Without an ID in 2022
The methods described above are the safest and most common options. The only way you could trade Bitcoin in full privacy is by trading directly with friends and relatives. However, even though your identity will stay off the records, one cannot say that this method is fully private.
Are there other ways to protect my privacy?
If you value your privacy, there are several best practices that you can implement every time you exchange cryptocurrency. These are:
Using a new Bitcoin address for each transaction – A new address is a great way to eliminate the possibility of tracking multiple transactions back to you. Popular hardware wallets, like the Trezor and Ledger are also known as Hierarchical Deterministic wallets (HD). This means that you can create a new BTC address every time someone sends you Bitcoin.
Implementing different Bitcoin wallets – One more way to protect your privacy when transacting with crypto is to create and use a number of different wallets.
Bitcoin Mixing services – These types of services group together payments of several users into one transaction. It is based on a privacy method more commonly known as CoinJoin, and makes it much more difficult to understand the person behind the transaction.
Using a VPN service – Hiding your IP is a great practice when dealing with cryptocurrencies. An IP is a unique address linked to the computer you are using to access the internet. There are free services you can download and use to change this address and make it seem as if you are using the web from another country. The most popular and one used even before Bitcoin was created, is Tor.
- Trade with privacy coins – Coins like Z-Cash, Monero, and Bytecoin are built with privacy features implemented in them. Thus, by using these to make a transaction, you can better maintain your anonymity.
- Use common sense when making transactions – There are several practices you can follow that don’t require specific knowledge. Think about the things you do in your daily life that could give away your identity. Avoid giving your phone number to third parties that you exchange crypto with. Make sure your phone number is not linked to your identity. Finally, always think twice before sharing personal information with people you don’t know or don’t trust.
Find more: Buy crypto without verification – Krypto-NFTs