Your guide: How to Buy Bitcoin (BTC) with No KYC?
Are you an avid crypto trader always looking to expand your portfolio? If you’ve ever wondered, “How to Buy Bitcoin (BTC) with No KYC?” you’re in the right place. Today, we’ll look at several platforms and ways that let you trade without giving out personal information.
Keep reading to learn more.
Also read: BRICS: Iran Proposes Linking all BRICS Payment Systems
Why Avoid KYC?
Privacy
As part of the KYC process, you must give personal information to prove who you are. A lot of people would rather not talk about their money. You can stay anonymous if you don’t do KYC.
Speed and ease of use
KYC can take a lot of time. You can start trading much faster if you skip this step. You can get to your Bitcoin faster if you don’t have to wait for name verification.
How to Get Bitcoin Without “KYC”
1. Use exchanges that don’t require “KYC”
For small trades, some cryptocurrency exchanges do not need Know Your Customer (KYC). You can buy and sell Bitcoin on these sites without having to prove who you are. Bisq and Hodl Hodl are two well-known no-KYC markets.
2. Exchanges that are not centralized
Peer-to-peer trades can happen without Know Your Customer (KYC) on decentralized exchanges like Uniswap and 1inch. Smart contracts make it easy and safe for users to trade directly with each other on these sites.
3. Markets for Users to Users (P2P)
P2P sites like LocalBitcoins and Paxful let buyers and sellers talk to each other directly. You don’t have to go through Know Your Customer (KYC) to buy Bitcoin from other people.
How to Buy Bitcoin Without KYC: A Step-by-Step Guide
1. Pick a platform
Choose the platform you want to use first. Look into DEXs, P2P markets, or exchanges that don’t require KYC. Pick the one that works for you.
2. Make an account
Set up a wallet to store your digital assets before you buy Bitcoin. MetaMask and Electrum are two popular choices. Use strong passwords and two-factor authentication to keep your cash safe.
3. Choose how you want to pay
You can use different payment options on different platforms, like PayPal, credit cards, and bank transfers. Pick the way that works best for you.
4. Get Bitcoin
Type in the amount of Bitcoin you want to buy and your wallet address on the platform you picked. To finish the buy, follow the on-screen instructions. You may need to send the seller fiat currency or another cryptocurrency.
5. Make sure the deal is real
Once the payment is complete, check your wallet to make sure the transaction went through. The Bitcoin should soon show up in your wallet. Check the transaction information again to make sure they are correct.
Also read: BRICS to Form Parliament to Oversee Alliance & De-Dollarization
Things to Remember: Fees, Safety and Legalities
When you buy Bitcoin, keep in mind that there are always going to be fees. These fees change based on the platform and way of payment. Plus, you’ll want to keep in mind putting in place any sort of safety measures. Always put safety first. Trusted platforms are best, and strong passwords and two-factor security will keep your wallet safe.
Additionally, it’s best practice to always think about the legalities of it all. Find out if buying Bitcoin without a KYC is legal in your area. Make sure that what you do follows the rules in your area to stay out of trouble with the law.
Conclusion
People who care about privacy and speed should buy Bitcoin (BTC) without having to go through Know Your Customer (KYC). This guide has shown you several ways to buy Bitcoin (BTC) without having to go through Know Your Customer (KYC).
By picking the right site and following the steps given, you can buy Bitcoin without anyone knowing who you are. To make sure the deal goes smoothly and safely, always know about the fees and safety measures. Have fun trading!