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Author Topic: Can I be anonymous to my bank when buying Bitcoins?  (Read 5185 times)
DannyHamilton
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December 13, 2012, 08:54:57 PM
 #21

So basically what you guys are saying, if I use a bank card to buy Bitcoins via TOR, have say 3 wallets for example all created and only ever used on TOR and say send the coins between each one, then that way you'll be un-traceable/harder to trace?

Which wallet services do you recommend I open? I've never tried opening one. Hardcore newbie.

Very helpful forum Grin
You need to provide a lot more information on what you are doing with the bitcoins and who you are trying to hide your activity from if you want a reliable answer.

Are you trying to hide the fact that you are using bitcoins from your bank? Then use cash to acquire the bitcoins and you'll be fine.  If you use any form of bank transfer (debit card, paper check, ACH transfer, wire, etc.) directly to an exchange then the bank will know you are using bitcoins.

Are you ok with the bank knowing that you are using bitcoin, but you don't want them to know what you are purchasing with the bitcoin?  Then don't need to do much of anything.  The bank will know that the money went to a bitcoin exchange, but they are unlikely to know what bitcoin address you are using.

Do you want to hide your purchases from the bitcoin exchange?  The exchange will be able to tell what Bitcoin Address you send your bitcoins to when they leave the exchange.  You'll need to look into ways to either acquire your bitcoins with an anonymous exchange, or find a way to bounce them and mix them enough to eliminate the trail before spending them.

Are you trying to hide illegal (or embarassing, or just personal) purchases from the government?  You'll want to make sure that the seller can't identify you either.

Anonymity depends on what your are doing, and who you are hiding from.

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ManBearPig-X
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December 13, 2012, 10:34:10 PM
 #22

I didn't realise my question could mean so much lol lets say hide my purchases from the bitcoin exchange, so the bitcoin exchange can't find my house address.

The link someone kindly provided earlier appears to do that? If I'm understanding correctly..

https://blockchain.info/wallet/send-anonymously

Thanksss.
DannyHamilton
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December 13, 2012, 11:29:12 PM
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I didn't realise my question could mean so much lol lets say hide my purchases from the bitcoin exchange, so the bitcoin exchange can't find my house address.

The link someone kindly provided earlier appears to do that? If I'm understanding correctly..

https://blockchain.info/wallet/send-anonymously

Thanksss.
Yep. That should give you the anonymity you're looking for.  blockcahin.info will send coins from a different address then where you receive them.  If you move a really large or unique amount of coins a determined individual may still be able to tell ("Oh look, Mr. ManBearPig transferred exactly 10934.6523 BTC from our exchange to blockchain.info and then moments later blockchain.info transferred exactly 10934.6523 BTC to this well known internet based vendor, clearly Mr. ManBearPig just made a purchase from that well known vendor."), but for normal daily use amounts, your outgoing transaction will get lost in all the others.

ManBearPig-X
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December 14, 2012, 12:57:29 AM
 #24

Thank you very much, that sums up alot, I can send myself money through different wallets with that as a middle man sort of thing too can't I?
I'll probably try set up some wallets tomorrow to practice, is it best to use the same wallet company or different ones?
Which do you tend to use, you seem well educated in this sort of thing. Thanks.
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December 14, 2012, 09:44:21 AM
 #25

Any type of direct electronic transfer should be easily identifiable.  If you don't want your bank to know how you spend your money, the best method is cash payments.  Sometimes this isn't possible if you're dealing with people in different countries. If that's the case your next best option would probably involve transfering funds through one or more intermediaries.
DannyHamilton
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December 14, 2012, 09:28:23 PM
 #26

. . . Which do you tend to use, you seem well educated in this sort of thing. Thanks.
I simply use the Bitcoin-Qt reference client installed on my computer, without TOR.  I haven't engaged in any transactions where anonymity would be important to me.  I just happen to have some understanding of the concepts of bitcoin and anonymity as well as how the two relate to each other.

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December 14, 2012, 09:31:13 PM
Last edit: December 14, 2012, 10:53:37 PM by malevolent
 #27

If you go through a bank your anonymity is lost. No exceptions.

Not necessarily. It is possible to have an account with a prepaid card only with a random name attached to it.

Alternatively, find a homeless person and pay them a little to set up an account with their ID.

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December 14, 2012, 09:58:59 PM
 #28

Thanks, which bit coin sellers accept cash/credit card? And once I put the money from card to bitcoin, if I wanted can I withdraw it into cash? How would one go about this? Cheers.
Scrooge McDuck
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December 16, 2012, 12:57:56 AM
 #29

If you go through a bank your anonymity is lost. No exceptions.

Not necessarily. It is possible to have an account with a prepaid card only with a random name attached to it.

Alternatively, find a homeless person and pay them a little to set up an account with their ID.

Nice idea, but a homeless guy won't be able to open a bank account, because he has no proof of residence.
Anonymous bank accounts are sold for approximately 1.000+ €, depending on some extras (e.g. telephone banking etc.)
I do not recommend to buy anonymous bank accounts, why the fuck did you want one?
I mean guys, seriously, we do have a market section here, buy your Bitcoin there, it's in my opinion the safest way.
And in addition you don't commit "crimes" (e.g. creating fake IDs etc. to open up a bank account).
malevolent
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December 16, 2012, 07:07:30 PM
 #30

If you go through a bank your anonymity is lost. No exceptions.

Not necessarily. It is possible to have an account with a prepaid card only with a random name attached to it.

Alternatively, find a homeless person and pay them a little to set up an account with their ID.

Nice idea, but a homeless guy won't be able to open a bank account, because he has no proof of residence.
Anonymous bank accounts are sold for approximately 1.000+ €, depending on some extras (e.g. telephone banking etc.)
I do not recommend to buy anonymous bank accounts, why the fuck did you want one?
I mean guys, seriously, we do have a market section here, buy your Bitcoin there, it's in my opinion the safest way.
And in addition you don't commit "crimes" (e.g. creating fake IDs etc. to open up a bank account).

Homeless guy can open a bank account but it may be problematic in some countries. Alternatively, it can be simply a destitute alcoholic or a drug addict who has someplace to live in.
As for the ''anononymous bank account'' it is only the cost of a prepaid card, about 3.7€.


Scrooge McDuck
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December 16, 2012, 10:54:29 PM
 #31

Homeless guy can open a bank account but it may be problematic in some countries. Alternatively, it can be simply a destitute alcoholic or a drug addict who has someplace to live in.
As for the ''anononymous bank account'' it is only the cost of a prepaid card, about 3.7€.

Well, I don't think that banks in most Western European countries would give a homeless guy so easily a bank account, when they don't have a fuckload of documents etc.
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