What's the most anonymous way to own bitcoin?

[yat97]

Is this the most anonymous way? Buy bitcoin from any exchange. Convert it to monero, send monero to a wallet, and from the wallet swap or exchange it for bitcoin?

Is that basically a way to anonimize your bitcoin? If you buy from most exchanges, they have your info. But once it goes through monero, no one can see anything about where it goes. So when it's traded for bitcoin on your wallet, that could have came from anywhere. There isn't really a way to say where those funds came from right?

[ranochigo]

I'll probably just skip the exchange.

Converting your Bitcoins to altcoins is usually done through an intermediary, usually an exchange which has to collect data for KYC/AML purposes. Even if you use Monero, you'll still have to convert it to Bitcoin at some point which would be through an exchange.

Instead, I'll use a P2P method (slightly more risky but way more privacy) and skip the whole exchange part. Just use a mixer or CoinJoin to break/obfuscate the link and you'll be better.

[yat97]

I'll probably just skip the exchange.

Converting your Bitcoins to altcoins is usually done through an intermediary, usually an exchange which has to collect data for KYC/AML purposes. Even if you use Monero, you'll still have to convert it to Bitcoin at some point which would be through an exchange.

Instead, I'll use a P2P method (slightly more risky but way more privacy) and skip the whole exchange part. Just use a mixer or CoinJoin to break/obfuscate the link and you'll be better.

I'm thinking like on the safepal wallet. You can exchange crypto there, but there is no KYC.

[BlackHatCoiner]

If you buy from most exchanges, they have your info. But once it goes through monero, no one can see anything about where it goes.

Why don't you skip the first part then? Why don't you just buy monero and then convert it to bitcoin? (If you're able of buying monero of course)

But there's a better way to anonymize your bitcoins. Mix them! I don't believe that there's a better way than CoinJoining them with max anonymity and then sending them to a high rated mixer. You leave the least footprints you can leave. The best thing you should do next, after you've mixed them, is to never leave any footprints. A footprint can be an address search on a block explorer, where you're revealing that you want to know the balance of that address to the block explorer and to your ISP. Another example of footprint is importing the address to an SPV wallet (like electrum). In that case, you reveal your address on the electrum server(s) you're connected. Running a bitcoin node covers that part.

[btcsmlcmnr]

Use truly DEX marketplaces to help you buy bitcoin anonymously
https://hodlhodl.com/
https://bisq.network/

Furthermore, you need use Wasabi wallet to help you stay anonymous: https://wasabiwallet.io/. This wallet connect to Tor and has Coin Join transactions.

[mezzaluna]

Is this the most anonymous way? Buy bitcoin from any exchange. Convert it to monero, send monero to a wallet, and from the wallet swap or exchange it for bitcoin?

Is that basically a way to anonimize your bitcoin? If you buy from most exchanges, they have your info. But once it goes through monero, no one can see anything about where it goes. So when it's traded for bitcoin on your wallet, that could have came from anywhere. There isn't really a way to say where those funds came from right?

I was gonna say that I know there are two ways to earn Cryptocurrencies anonymously and that is through Mining and claiming them in Faucets. I know its one of the earliest way to earn Cryptocurrencies but because you are doing it alone, nobody knows that you are earning them and creating a mining rig is very profitable if done right. Faucets are becoming obsolete this days but if you are down to do things with repetition, you can find ways to do it by yourself and I believe that is a way to earn Crypto's anonymously.

[aoluain]

A few ideas,

Buy a hardware wallet and get it sent to a Post Office Box or similar so that only
a name and not a residential address is known.

Buy Bitcoin either with PayPal funds, P2P and/or Bitcoin ATM, ok fees will be an
issue but it could be a compromise for anonymity?

[seoincorporation]

...
I think the most anonymous way is solo-mining. As to exchanges - there are those which don't require KYC. So if you have the skills to remain anonymous  while being online your  bought bitcoin will be exactly the same.  p2p is arguable for me as one can get bitcoin with "dirty" history.

Solo-mining will give fresh and untraceable coins, I'm with you about this as the most anonymous way, but if the coins are old with a big history you can always use a mixer service to put them on an untraceable wallet.

If OP uses Monero and a exchange, the coins still traceable because the exchange register the operation even if the Monero Blockchain hides all the information, the exchange will have a user, mail, and IP for that transaction, so, that way isn't anonymous at all.

[nightxglow]

I guess mining can be the way? You can mine your own bitcoin, and with that no one will know your identity. Or well maybe just like you said, go through some series of process, to get rid of your mark. But of course, it will be really complicated.
And I think, we don't need that much of anonymity in owning bitcoin, it's quite anonymous already, and I think the data is safe. Only if you don't purposely do that because you want to do bad things with it of course haha, doing it in the normal way is fine and safe enough already.

[mk4]

1. Buy bitcoin from a peer-to-peer exchange such as HodlHodl[1] or LocalCryptos[2].
2. Coinjoin/mix the bitcoin through services such as Wasabi[3], Samourai Whirlpool[4], or ChipMixer[5]. (which is the "best" is subjective.

[1] https://hodlhodl.com/
[2] https://localcryptos.com/
[3] https://wasabiwallet.io/
[4] https://samouraiwallet.com/whirlpool
[5] https://chipmixer.com/

[hatshepsut93]

The most anonymous way is to buy it with cash in person. But this is also quite risky, due to physical attacks. So if you want to go this way, you should be buying small amounts over some period of time from different sellers, and make sure that you aren't followed back to your home.

Any digital fiat payment will leave a trace, even in your example the fact that you bought crypto is already bad for your anonymity.

[20kevin20]

Here's how I'd do it:

1. Purchase Bitcoin through an ATM or an exchange and mixing/CoinJoining the purchased funds. Main disadvantage of this option is that you risk having your face screenshotted by the ATM machine and the exchange will hold identifiable information of you.
2. Purchase BTC through Bisq. Main disadvantage is the little bit high fees.
3. Purchase BTC p2p face-to-face. Main disadvantage is personal safety. Also, for large sums, I would consider the person I'm conducting business with might be authority personnel.

If I had to choose among the 3 above, I'd opt for the 2nd or 3rd option. Using third parties means sharing personal information with them (and other parties) and I don't want to comply with that.

[yat97]

Thanks for the replies. Mining is a no go for me due to not having the equiment and it becoming prohibitivly expensive.

But the bitcoin mixer ideas should work.


I've started out using bitcoin ATMs that dont require ID, just a number. But the fees are atrocious even for the cheapest ones I can find compared to online exchanges.

Yeah I've thought about peer to peer I've just been kind of worried about getting defrauded or something happening.

I'd figure even if you buy from an exchange, convert it to monero, or yes as someone pointed out, just buying monero to start with if that's possible, and sending it to then trade for bitcoin would be just as good as other methods.

" A footprint can be an address search on a block explorer, where you're revealing that you want to know the balance of that address to the block explorer and to your ISP."
Thanks for mentioning this. I may have don goofed already on that one.


Also... "even if the Monero Blockchain hides all the information, the exchange will have a user, mail, and IP for that transaction, so, that way isn't anonymous at all."

So the exchange can see where you sent monero, and from there, when you exchange monero for bitcoin even when done off from the exchange on another platform?

[bassbity]

As far as I know, DEX provides more privacy that is very guarded, you only need to have an anonymous hardware wallet, without you using an email login. As for P2P, it will still involve your identity because it is still within the scope of the market, it is a little anonymous, but DEX is much more anonymous.

[LordShanken]

Anonymity and privacy goes hand in hand with Bitcoin. If there is breach in your anonymity then you are not dealing with bitcoin. With rise of bitcoin so many centralized institutes have also jumped into crypto market and they are destroying the concept of anonymity and privacy designed by Satoshi.

[Yogee]

....
I'm thinking like on the safepal wallet. You can exchange crypto there, but there is no KYC.

Safepal has a Binance Dapp which is kinda good at first glance since it's non-custodial. The mobile app, however, is closed source so you can never tell if they're not collecting any information from you.

You can't be completely anonymous if your starting point is buying any crypto online using fiat.

[NeuroticFish]

I know 3 pretty good ways to get Bitcoin anonymously.
1. Mixers. Although it's unexpected by many, ChipMixer is for free (although paying some extra helps with extra privacy).
2. Sell or offer services directly for bitcoin. For example I've made translations and only the customer knows that address of mine.
3. Buying bitcoin P2P, just beware of scams (for example don't pay before getting at least one confirmation). Again, only the seller and maybe a trusted escrow will know the address.

[BitcoinGirl.Club]

Instead, I'll use a P2P method (slightly more risky but way more privacy) and skip the whole exchange part. Just use a mixer or CoinJoin to break/obfuscate the link and you'll be better.

I will do the same.
Buy bitcoin using p2p > send the coins to a mixer > Receive the coins from the mixer while using a tor connection

Never load the wallet without TOR connection.

There is always a point where you are going to trust the mixer/coinjoin service. I think using wasabi coinjoin this trust can be broken but it will cost you a price of course.

[livingfree]

I agree about using mixers, they're one of the choice to make yourself anonymous.

I think using wasabi coinjoin this trust can be broken but it will cost you a price of course.

Yes, there's a fee of 0.003% per anonymity set.

https://docs.wasabiwallet.io/FAQ/FAQ-UseWasabi.html#coinjoin

[Upgrade00]

Yeah I've thought about peer to peer I've just been kind of worried about getting defrauded or something happening.

You do not have to (physically) trade directly with someone and go through the risk of sending first and waiting for your payment, there are P2P platforms which acts as intermediary (sort of an escrow). They protect you from the risk of fraud, ensure you're using a reputable and trustworthy website.

So the exchange can see where you sent monero, and from there, when you exchange monero for bitcoin even when done off from the exchange on another platform?

The blockchain is transparent and transactions can be linked, you'll also need another exchange to convert the monero to Bitcoin, further reducing privacy.