How to Buy Bitcoins Anonymously
The traditional way of buying bitcoins without ID has mainly been through the P2P Bitcoin exchange platform LocalBitcoins.com, a place that was especially popular for buying bitcoin anonymously with PayPal. But, unfortunately, even LocalBitcoins have started requiring ID verification from all their traders.
So are the days when you could buy bitcoins with a credit card instantly and with no verification behind us? Not quite. Here, we present to you an easy, anonymous, private and quick way to acquire bitcoins with cash in just a few steps… Through Monero!
Monero is actively encouraged to those seeking financial privacy, since payments and account balances remain entirely hidden, which is not the standard for most cryptocurrencies.
Monero uses cryptography to shield sending and receiving addresses, as well as transacted amounts.
Monero transactions are confidential and untraceable. Every Monero transaction, by default, obfuscates sending and receiving addresses as well as transacted amounts. This always-on privacy means that every Monero user's activity enhances the privacy of all other users, unlike selectively transparent cryptocurrencies (e.g. Z-Cash). Monero is fungible. By virtue of obfuscation, Monero cannot become tainted through participation in previous transactions. This means Monero will always be accepted without the risk of censorship. The Kovri Project, currently in development, will route and encrypt transactions via I2P Invisible Internet Project nodes. This will obfuscate a transactor's IP address and provide further protection against network monitoring.
Monero is a grassroots community attracting the world's best cryptocurrency researchers and engineering talent.
Over 420 developer have contributed to the Monero project, including 30 core developers. Forums and chat channels are welcoming and active.
Monero's Research Lab, Core Development Team and Community Developers are constantly pushing the frontier of what is possible with cryptocurrency privacy and security.
Monero is electronic cash that allows fast, inexpensive payments to and from anywhere in the world. There are no multi-day holding periods and no risk of fraudulent chargebacks. It is safe from ‘capital controls’ - these are measures that restrict the flow of traditional currencies, sometimes to an extreme degree, in countries experiencing economic instability.
Register an account with LocalMonero. You get a free and secure online Monero wallet. No additional apps are needed. If you already have an account, skip to the next step.
Go to the main page and in the search box fill in the form with the amount you want to buy in your currency, your location and a payment method. If you're unsure how you want to pay, choose 'All online offers' as your payment method. The site will list Monero traders available in your region.
From the list of advertisements, choose one from a trader with a good reputation score and a high amount of trades. A green circle means the trader has been online today, a yellow circle means they have visited the site this week and a grey circle means that the trader hasn't been here for over a week. You can click the 'Buy' button to view more information about an advertisement.
After you press the 'Buy' button you'll see more information about the advertisement, including the terms of the trade. Read through them before submitting the trade request, if you don't agree with them you can go back to the previous page and choose another advertisement. To start the trade, type in how much Monero you want to buy and click the 'Send trade request' button to the start the trade. Be sure you're ready to pay when clicking the button, if you don't pay before the payment window is over, the seller will be able to cancel the trade.
Once you have made the payment, click the 'I have paid button'. Once the trader has verified that your payment has been received, your Monero will be released from escrow and they will be instantly available in your LocalMonero wallet. And that's all there is to it, congratulations on your first Monero trade!
To use it, simply download and install the Tor browser from their official website. After you launch it, you can access LocalMonero through our special Tor portal: localmonerogt7be.onion
Use methods like cash by mail, ATM cash deposits, face-to-face meetings, or gift cards bought with cash.
Imagine the following scenario: bitcoin has become the only used currency in the world. What would some of the implications of the lack of privacy be?