Transfering Bitcoin from Coinbase to an exchange to acquire Monero anonymously?

[Abiky]

Do you guys know of a way to anonymously transfer Bitcoin from Coinbase to Monero? While I don't have anything to hide, I'm mostly concerned about privacy. If I'm correct, it would be possible to transfer the Bitcoin into a mixer and used those "mixed" coins to exchange them into Monero.

However, I'm afraid that sending the Bitcoin from Coinbase to the mixer would already establish a link to my identity since the Blockchain is transparent after all (not to mention that my ID is verified at Coinbase).

As such, the only solution for me would be to create a separate BTC address that's not linked to Coinbase at all. Then, I could mine some fresh new Bitcoin that doesn't have any link to other addresses in the Blockchain. After that, I would need to transfer the Bitcoin to an exchange (mostly decentralized with no KYC) in order to acquire Monero anonymously. However, the process of mining new coins is not feasible for me.

Nonetheless, do you have any suggestions or recommendations on how to do this in the most anonymous way possible? I'm open to all ideas.

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[BitMaxz]

As such, the only solution for me would be to create a separate BTC address that's not linked to Coinbase at all.

I agree with this but after you receive bitcoin from a new BTC address use a mixer like Chipmixer before you send it to exchanges and buy monero.

In this way, it is more anonymous than receiving it to BTC address and directly send it to exchange even it is not KYC verified you are still making a pattern to trace your funds from bitcoin to monero.

[Bitcoin_Arena]

Maybe you could try using atomic swap services like,
- [Automated] [FreeBitcoins.com/swap] "Swap" BTC, DGB, DOGE, CLAM, ETH, XMR
- https://coinswitch.co
They can all swap directly from bitcoin to Moreno if you opt to send the bitcoins directly from your coinbase account. And there won't be a link between your BTC and XMR.

Or send the bitcoins to a centralised exchange like binance, exchange the bitcoins to ether, withdraw your ether to an address, send the ether to an atomic swap service in exchange for Monero

I made a simple guide for a member about coinswitch here. You can check it out if you are not familiar with how it works

[mk4]

Depends on how much BTC you're actually converting. As far as I know, Binance doesn't require KYC if the withdrawals wouldn't exceed 2 BTC per day. You could probably create an account using a proxy/vpn or create an account through tor, and just enter some fake names or something.

[joniboini]

Nonetheless, do you have any suggestions or recommendations on how to do this in the most anonymous way possible? I'm open to all ideas.

Another idea is to buy monero from users in this forum. You can withdraw your BTC from Coinbase (or better from your own controlled Bitcoin address) and mix it to send to the seller address. After that, he can send monero to your address (or maybe the escrow can release the monero). But this is not fully anonymous because at least two people (your seller and maybe the escrow provider) would know about it.

[jseverson]

However, I'm afraid that sending the Bitcoin from Coinbase to the mixer would already establish a link to my identity since the Blockchain is transparent after all (not to mention that my ID is verified at Coinbase).

Analytics may show that you used a mixer, but that should be effective enough if you simply want to disassociate the coins with your identity. There are probably some ways to undo this, but you have to be specifically targeted and it's going to cost a lot of resources. If you don't think the FBI or some other entity is going to knock on your door anytime soon, this should be a safe enough option.

Otherwise, the most anonymous way would probably be to cash out Bitcoin, and somehow purchase Monero directly with fiat.

[Wintersoldier]

You may move your Bitcoin to Blockchain wallet and then transfer it to a mixer such as Shapeshift or any mixer you prefer.

Otherwise, you have to use decentralized exchange such as Hitbtc as Hitbtc charges low fee and it doesn't require KYC at the same time (I'm not sure for huge amount of transactions).

Edit: Hitbtc is not a decentralized exchange.

[Bitcoin_Arena]

Otherwise, you have to use decentralized exchange such as Hitbtc as Hitbtc charges low fee and it doesn't require KYC at the same time (I'm not sure for huge amount of transactions).

HitBTC is a decentralized exchange? Are you for real bro?
Unless you were trying to imply that It's a centralized exchange but then made a mistake.

Look first off, HitBTC is one of those worst exchanges with a very high withdrawal fee...
- HitBTC withdrawal fee for BTC = 0.001BTC,
- BTC withdrawal fee for other centralized exchanges such as Binance, Huobi, Kucoin = 0.0005BTC
Outright exploitation, isn't it? Even when BTC transaction fees have been way too low for over a year now.

Secondly, Other centralized exchanges like Binance, kucoin too offer withdrawals of upto atleast 2BTC without verification just like HitBTC so the better choice is obviously the less exploitative exchanges

Thirdly, using a centralized exchange will still link your BTC. Each account has it's uniquely generated BTC address.

[PrimeNumber7]

If you are considering using some kind of mixer, I would suggest first reviewing this thread about mixers.

Almost every exchange requires KYC in order to even deposit, so if you ignore the above thread you will not have any real privacy above if you send coins directly from coinbase.

[Bitcoin_Arena]

If you are considering using some kind of mixer, I would suggest first reviewing this thread about mixers.

OP knows about the mixers, they just want to buy Monero without having a direct link from their coinbase account. They also do not want a direct link between their coinbase account and a bitcoin mixing service as it would obviously show that they are using the service to hide their transactions in order to buy monero.

Almost every exchange requires KYC in order to even deposit, so if you ignore the above thread you will not have any real privacy above if you send coins directly from coinbase.

This is not true.
I have used Kucoin, Binance, Okex, Huobi, Mercatox, HitBTC etc for +2 years without filling any KYC form and i haven't had any problems at all.

[TryNinja]

OP knows about the mixers, they just want to buy Monero without having a direct link from their coinbase account. They also do not want a direct link between their coinbase account and a bitcoin mixing service as it would obviously show that they are using the service to hide their transactions in order to buy monero.

There is no way Coinbase can know he’s using a mixer to buy Monero. Even if they can connect his withdrawal with a mixer like ChipMixer, the link will end there. Also, using a mixer isn’t ilegal. It’s not like they will sue you because they found out that you used a mixer.

Coinbase -> mixer -> (link broken).

[Bitcoin_Arena]

There is no way Coinbase can know he’s using a mixer to buy Monero. Even if they can connect his withdrawal with a mixer like ChipMixer, the link will end there. Also, using a mixer isn’t ilegal. It’s not like they will sue you because they found out that you used a mixer.

Coinbase -> mixer -> (link broken).

My response was basing of OPs preference. For some reason, She/he doesn't just want to link her/his account directly to a mixer service. I am well aware it's not illegal.

However, I'm afraid that sending the Bitcoin from Coinbase to the mixer would already establish a link to my identity since the Blockchain is transparent after all (not to mention that my ID is verified at Coinbase).

[Shapithe]

If you really are paranoid.

Increase your levels of plausible deniability.

Coinbase to your own wallet.
From your wallet, to a web wallet.
From web wallet to mixer (coinjoin or some variation)
From mixer to a new wallet.
Your your wallet to an xmr trade.

If you send from coinbase to a mixer direct, you are likely to close your account, as they track the coins, and realize you used a mixer.

[Theb]

Why are you even worried about being linked to your monero purchased from Coinbase to an exchange when you are still required to submit KYC from an exchange? At the end you are still linked from your Monero depending on what exchange you have bought it from. If you really want to remain anonymous from any kind of KYC or from an exchange then buying Monero directly from a person selling it is the right way to go preferably using an escrow. In this method you will be sending BTC as a payment and there is no way for them to track what you have receive in return.

[vit05]

You can, and should, use a mixer like bestmixer.io. And then, buy monero using p2p. It will be difficult for anyone to know where your Bitcoins are or what you have done with them. But you have already lost your privacy when you purchased Bitcoins using your bank account. The bank is the main means of finding who has bitcoins.

If you want to have true privacy, you have to use a means of transferring fiat that does not involve banks.

[Abiky]

Maybe you could try using atomic swap services like,
- [Automated] [FreeBitcoins.com/swap] "Swap" BTC, DGB, DOGE, CLAM, ETH, XMR
- https://coinswitch.co
They can all swap directly from bitcoin to Moreno if you opt to send the bitcoins directly from your coinbase account. And there won't be a link between your BTC and XMR.

Or send the bitcoins to a centralised exchange like binance, exchange the bitcoins to ether, withdraw your ether to an address, send the ether to an atomic swap service in exchange for Monero

I made a simple guide for a member about coinswitch here. You can check it out if you are not familiar with how it works

Thanks for sharing this service, mate. I'll have a look at it when exchanging some of my Bitcoins from Coinbase to Monero. Relying on atomic swaps seems like the way to go nowadays, especially when most centralized exchanges are requiring KYC. Not to mention, some decentralized exchanges like CryptoBridge are also requiring KYC, which defeats the purpose altogether.

As for Binance, it doesn't seem to be the path to go for me, since it's a centralized exchange after all. What I could do is either use the Local Monero service, or the Coinswitch service which relies on atomic swaps.

Nonetheless, the lesser links there are related to my identity, the better as it would allow me to own fully private Monero for future use.

If you don't want your Bitcoin linked with mixing activity, you could try CoinJoin anonymization method such as Wasabi Wallet or JoinMarket.

You also can trade your Bitcoin to Monero directly with decentralized exchange such as Bisq

Interesting. I didn't know that Wasabi Wallet used the CoinJoin anonymization method, but thought that it relied on Ring signatures + CT. The approach to privacy is good, but I believe that Zero-Knowledge Proofs and Ring Signatures + CT are far better options at the table. I've been looking into Grin and Beam also, since they use a privacy mechanism known as Mimblewimble. With Grin, there are no addresses (see official site for more details) which makes it a completely P2P cryptocurrency.

As for Bisq, it's a good decentralized exchange but liquidity for Monero is very low. I might try this in case all other options fail.

Nonetheless, I appreciate your help with this, guys. Any other suggestions or recommendations related to anonymizing my Bitcoin from Coinbase to Monero would be greatly appreciated.