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Author Topic: Really possible to send money anonymously through Bitcoin?  (Read 219 times)
BitHodler
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July 16, 2018, 12:32:18 AM
 #21

There's many exchange not requiring KYC
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.

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July 16, 2018, 01:01:07 AM
 #22

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.
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July 16, 2018, 01:11:15 AM
 #23

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'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.
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July 16, 2018, 01:13:38 AM
 #24

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.

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July 16, 2018, 01:15:11 AM
 #25

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.
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July 16, 2018, 02:15:24 AM
 #26

That is one of the properties of Bitcoin. It anonymously does not disclose the trader's information but you may be caught for this
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July 16, 2018, 02:58:28 AM
 #27

to buy anonymouysly best way is to buy with cash.

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

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July 16, 2018, 03:50:54 AM
 #28

Your personal data can not be traced with BTC address, but everyone can know the time and amount of bitcoin transaction you do.
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July 16, 2018, 07:40:43 AM
 #29

to buy anonymouysly best way is to buy with cash.

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

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.

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July 18, 2018, 08:08:07 AM
 #30

Hello,

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

Thank you, once again.
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July 18, 2018, 12:19:43 PM
 #31

You can purchase p2p in localbitcoin.com or on paxful.com. After receiving, send to a mix website like bitcloak or Chip Mixer. 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

Hello,

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

Thank you, once again.
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July 18, 2018, 01:01:28 PM
 #32

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.

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July 18, 2018, 01:27:06 PM
 #33

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

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July 18, 2018, 02:50:24 PM
 #34

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.

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.

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July 20, 2018, 10:31:06 AM
 #35

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!
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July 25, 2018, 11:52:02 PM
 #36

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.

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July 26, 2018, 09:09:36 AM
 #37

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.

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July 31, 2018, 02:09:02 PM
Merited by Hueristic (1)
 #38

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.

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August 06, 2018, 03:11:27 AM
 #39

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

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September 19, 2018, 09:21:29 PM
 #40

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.

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.

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