Bitcoin Forum

Hello,

I need to send some amount to one person anonymously. That means, the opposite person should not know my identity and source details. For this, I tried to register with Bitcoin provider. But, they are asking my bank account details to fulfill their KYC (Know your customer) norms. I understand and agree that I should give my bank account details to the provider. Once I send the amount through Bitcoin to the other person (Receiver), is there any possibility to track my details through Bitcoin? Is really Bitcoin is the trustworthy to send the money anonymously?

Thanks in advance.

CP

All transactions can be traced. If you buy btc from an exchange that enforces kyc regulations, and directly pay the receiver with the btc you bought, you can in fact be traced.

Bitcoin is pseudo anonymous.

There are ways around this, but you need to know what you're doing...

Hello,

Thank you for your reply. Could you give me any hints to send it anonymously (workaround)? I know some of the things like using VPN, Tor etc. But, I am not sure this will solve the issue or not.

Thank you

Well, I'm definitely not going to give a walkthrough, since I these hints can also be used for illegal purposes. But in order to hide your IP, there are vpns, tor, i2p, proxy's, public hotspots.

There are also p2p exchanges that can be done to purchase btc.

In order to break the link between wallets, there are mixers and anonymous crypto currencies...  Or buying coinbase rewards from miners.

You can also rent hashrate and mine clean coins directly, or use an exchange that does not require kyc (sometimes kyc is not needed for btc to altcoin exchanges)

to buy anonymouysly best way is to buy with cash.

yeah that's a way to not get caught buying it in cash in person, just like the feds recently raided that person, not.

you keep saying "other person", but who is this other person? an average Joe or a government agent or someone with power to get court order? and what is this payment? for something illegal or grey or legal but you want to keep your privacy?

you see there are different levels of anonymity. for instance when "I" see your account here i can not know who you are, what your IP is,... and i will never know. but the owner of this forum knows all that information.

in other words you must first decide who you are trying to keep your anonymity from. an average Joe can not ask the exchange to reveal your identity to him without a court order so you shouldn't care about KYC of exchanges in that case.
the ultimate anonymity is when you buy with cash and mix coins and it costs a lot because off the market and buying with cash they will sell you at a higher price like 20% higher than the market for example.

I think bitcoin can be associated with a real identity if this identity is actually used in combination with a Bitcoin address in some way This includes the address used for the deposit or withdrawing money to or from the (regulated) exchange or service of public donation open the wallet address or address used to send bitcoin to someone (including online store) when using real identity.

The address of BTC can be created by anyone, so it is possible to transfer BTC without real name, but the usdt transfer using BTC network must be verified with real name.

Yes of course, just create a new bitcoin wallet, and then send money through that to another person, and you will be fully anonymous after that, and there would not be any way to track your main wallets unless that those were attached at some point

I would still not use my main card to link to my account, i don't believe them)

It can be tracked if they have the means to do so(if they are someone with a position in the government, they can). If you are only transacting with an average joe, you shouldn't worry much about being tracked. Even if you fulfill the exchange's KYC, they wouldn't reveal it easily unless you are paying for something illegal(which would require them to reveal it to authorities).

As far as i know, that is the main purpose of the entire blockchain and bitcoin, sending anonymously is the main goal of all this network and you should know that since the very beggining since you are in there, dont you think?

you can't be tracked easily if your country does not need to provide your kyc verification on buying or selling bitcoin for your county. you can also create another account on bitcoin so you won't be tracked.

In the past anonymity was exaggerated.
Now i think tracking is exaggerated.

Lets say i have 1 Bitcoin on Adress A1.
Now i pay something through a payment processor.
The transaction goes from A1 to A2(payment processor) and A3.
Now you could guess A3 is my change adress.
But you could be wrong, i could have send the rest to a guy that paid me cash for it.

Or lets say i send it from A1 -> A2 -> .... -> A10, at each transaction, you can only guess that its still me.

Even when it goes only from A1 -> A2, trackers cant tell wether its still me, they can only guess.
When i buy Bitcoin for cash, the blockchain cant tell wether i now own the bitcoin or its still the guy that sold them to me.

When i send 10 transactions, and im identifiable on transaction 1 and 10, Then one can assume that the adresses in between also belong to me. That would be very likely unless i randomly sold and then bought the bitcoin again. Its not certain though.

A donation to a cause that is controversial 10 years later wont haunt anyone, because "its statistically likely" is not enough to blame him.

But if some guy is selling some illegal stuff, "statistically likely" might be enough to get him, especially when the law enforcement has some additional info, like approximate location from where he ships his stuff, that matches him and obviously will have more evidence in his home.

If you want to send money anonymously it is very appropriate if you use bitcoin for delivery, because bitcoin does have anonymous properties.

Well, this is the main purpose of bitcoin to make transactions anonymously but since KYC was invented again now its killing the purpose of this blockchain technology, but I think you are still anonymous when you send transactions to your receiver especially when you done this here in the forum.

There's many exchange not requiring KYC and you can send bitcoin anonymously the question is how you can transfer bitcoin to person you want to send found if you didn't get all information from their specially their bitcoin address.

You can purchase p2p in localbitcoin.com (http://localbitcoin.com) or on paxful.com (http://paxful.com). After receiving, send to a mix website like bitcloak (https://bitcloak43blmhmn.com/) or Chip Mixer (https://chipmixer.com/). It is very, very unlikely that the person who received the resources will be able to find out anything about you.

You should also use Tails (https://tails.boum.org/)

Well it is not gonna be anonymous if you get it from exchanges because they are legally obligated to require identification and that is to prevent money laundering and false use of bitcoin, ever since bitcoin rose up  and started making an impact on the world having people use it had to come at a coast and that is the anonymity that it had, but it is still possible to make anonymous transactions without the need for identifications using peer to peer exchange sites like localbitcoin where you can buy and sell bitcoin with many payment options.

That technically doesn't even matter. The exchange has stored your information on their servers for ever. In case they become compliant later, you have some explaining to do when the government knocks on your door.

As long as you are using centralized exchanges to buy from or sell to, you are at great risk. Maybe these unregulated exchanges serve as data collecting hub for tax agencies to whoop you later on for tax evasion.

I wouldn't take anything for granted here. Buy coins, mix them, spend or use them. We're already at a point where there is barely any privacy left, let's at least respect and appreciate the mixers in this industry.

I think transactions can be traced because all transactions are recorded in a ledger in blockchain, but tracking ownership on behalf of that bitcoin may be difficult because everyone can create bitcoin accounts using anonymously.

You're right. Bitcoin transactions are transparent and can be traced easily. Coin mixers might hide a receiver of funds, but it is quite expensive due to the high fees for each transaction. I think the best way is to buy some anonymous crypto-currencies. Their structure, blockchain and algorithm are designed exactly for private payments. Then the receiver will sell these crypto-currencies and buy Bitcoin.

I don't believe they can trace you like that.  They can trace your transaction but not who is making them.  Unless of course you throw away your privacy and fill out a KYC.  If you never handed over your papers then how would they know.

I think All transactions through the Bitcoin network are completely transparent and tracked by anyone. This is usually a complete transparency that allows multiple Bitcoin addresses to be collected together into one, and associated with the same user.

That is one of the properties of Bitcoin. It anonymously does not disclose the trader's information but you may be caught for this

Isn't that even more problematic? Person you bought from Bitcoin can say, "hey, he bought Bitcoin from me"!?

Your personal data can not be traced with BTC address, but everyone can know the time and amount of bitcoin transaction you do.

If you look at things from that perspective you won't ever be able to transact anymore.

The main thing is that you should calculate and research your risks thoroughly. You won't ever obtain 100% anonymity, but you can obtain 90-95% of it. You have to hope that the party that accounts for that 5-10% isn't going to snitch on you in any way, and if they do, you should make sure they can't directly link that transaction to you. Buying Bitcoin with cash from a complete stranger is probably a 10% privacy risk.

In the end there is one great way to transact near anonymously, which is to exchange private keys where nothing ever happens on-chain. It highly depends on trust, but it gets the job done in the most convenient way. Casascius coins are like a brick of Gold; you can exchange them with anyone having enough trust to accept them, and no one but you and the other party knows that value got exchanged. No on-chain trail is like nothing has ever happened, and you can use them as money without internet or electronic device.

Hello,

I understand and thank you very much to all for your replies and time that you spend.

Thank you, once again.

Hello,

Thank you for your information and it is looking fine for me somewhat.

Thank you, once again.

for this you have privacy coins to send your amount by hiding all you details. I would suggest you to go to exchange and transfer the amount using any privacy coin to the other person.

Well, that really depends on who's looking into it. As others have already said, alot of exchanges/other places where you can buy bitcoin require KYC, aka your personal data.

So if that adress traces back to an adress of an exchange that enforces KYC laws ( coinbase, bitstamp et al), there's a good chance law enforcement agencies will find out who you are.

There are obviously ways to break that chain, but it usually involves another 3rd party that you'll need to put trust in... See mixers as others have already mentioned.

Well if you sent fiat to a bank account or something similar from the exchange, that would be a good starting point. It could be argued, of course, that you sent fiat to someone else, but still.

If something like this is of huge concern, the person involved should look into decentralized exchanges or peer-to-peer trading. I'd like to point out that peer-to-peer has always been the intended medium for Bitcoin transactions.

Of course, Bitcoin's remittance method is anonymous. Although everyone can see that Bitcoin is in motion or in an address, they have no way of obtaining who is trading!

Oh yeah you can. But I think it depends on the portal you'll use.. I see it this way: if you're converting between crypto-crypto then I think you can stay anonymous but if your converting between crypto-fiat then anonymity is reduced or loss. Fiat transactions cannot stay anonymous- it is always watched, but for crypto transactions, we can stay anonymous.

Bitcoin is always possible to be trade and your transactions couldn't be in 100% anonymus, so you could only send it and this person will know the adress from which he received the money.

If you want to buy crypto with a bank account, it will generally require KYC. However you can buy crypto with cash deposit, cash in mail, cash in person or giftcards without KYC, if you check localbitcoins.com, liberalcoins.com or paxful.com .

To protect your privacy and break the connection with KYC, you can use a bitcoin mixer e.g. chipmixer.com or better, mix through Monero (XMR). Monero has an obfuscated blockchain which means that no one can see who sent monero to who, when and what amount.

To mix with monero:

• Download the wallet from https://getmonero.org
• Make 1 monero wallet (keep the password, mnemonic and private keys safe)
• Convert bitcoin to monero with https://shapeshift.io and send it to your 1st wallet
• Make 2nd monero wallet and send your monero from your 1st wallet to your 2nd wallet -- this step breaks the link due to moneros obfuscated blockchain and RingCT
• Make a fresh bitcoin address
• Convert the monero from your 2nd wallet to BTC with https://xmr.to and send it to your new bitcoin address

Keep in mind that there will be a higher fee due to the exchanges (ca 5-10%) but it is worth it to protect your privacy.

For better privacy, you can run the monero wallet through tor (use torsocks command) and connect to a remote onion node.

Bitcoin is actually not traceable if you know enough about security and if you know how to use anonymous bitcoin mixers.

Better yet just use Monero and convert to btc when needed, it's cheaper that way and you don't leave a trail of transactions that will look suspicious.