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Author Topic: Buying BTC anonymously  (Read 428 times)
haasanjui
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December 11, 2021, 05:59:27 PM
 #41

It is big can be said biggest risk ever. Buying BTC anonymously can give you a big lost. there are only some chances that BTC will give you profit. If anyone wanna buy BTC he must have all knowledge about Crypto and bitcoin.

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December 11, 2021, 06:45:08 PM
 #42

buying bitcoins anonymously can cost a lot of transaction fees and it's too wasteful to get bitcoins and cause a lot of transactions that can cause hackers to run. it is better to buy bitcoin directly in a trusted and safe market. as long as you can get bitcoins safely and quickly why do you have to be complicated so that the cost of the underlying asset can be reduced every time you transact.

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December 11, 2021, 06:59:15 PM
 #43

Local bitcoins would be your best way to buy directly from a seller paying whit cash and whit out traces.
LBC requires KYC and so is a very poor choice.

If you are ultimately pursuing the goal of making your bitcoin savings legitimate, then you will have to sacrifice something, (after all, you need anonymity so that you are not pursued by the law at the moment, right?)
There are a thousand reasons to want anonymity that having nothing to do with evading the law.

In addition, you yourself know that there are trusted persons on the forum who earn money by acting as intermediaries, and after a year or more no one will remember your name because thousands of parcels pass through the hands of such people.
There is no way you can think you are private or anonymous simply because x amount of time has passed since you compromised your privacy. You have no idea what kind of records the person you are buying from keeps, how good their security is, who else might have access to the details you send them, if they have been intercepted, how they are stored, who else might have looked inside your package, the list is endless.
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December 11, 2021, 07:30:35 PM
 #44

Why not buy Bitcoin directly to any KYC exchange and use a mixer instead?

Alternatively, buy XMR (on an exchange with or without KYC) and use Atomic Swaps to exchange/swap XMR for Bitcoin. By doing this at least two times you can also disguise the origin of your Bitcoins very well. However, you should use decentralized exchanges with atomic swap, which have favorable transaction fees.
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December 11, 2021, 09:37:55 PM
 #45

Why not buy Bitcoin directly to any KYC exchange and use a mixer instead?

Alternatively, buy XMR (on an exchange with or without KYC) and use Atomic Swaps to exchange/swap XMR for Bitcoin. By doing this at least two times you can also disguise the origin of your Bitcoins very well. However, you should use decentralized exchanges with atomic swap, which have favorable transaction fees.
^ Never engage on a centralized entity if you really want to have BTC anonymously, from the start OP buy XMR in centralized exchange which is that part could be his mistake, just buy it in decentralized exchange. The problem is the transaction fee in exchange I don't know how much but for sure it will harm your wallet. Using a BTC mixer is not having good privacy?
I thought that is enough to hide your privacy upon buying BTC or buying on decentralized exchange is enough to be anonymous.
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December 12, 2021, 09:11:15 AM
 #46

If I wanted to accumulate some BTC anonymously and just hold it
would this work?

Buy XMR on a KYC exchange.
Withdraw it to a Monero wallet connected by TOR or VPN
Transfer to a second Monero wallet connected by TOR or VPN
Send XMR to a non KYC exchange and buy BTC
Withdraw to BTC wallet connected by TOR

Any corrections, suggestions, or better ideas?
Yes. Find somebody with Bitcoin in real life. Offer to pay them cash for it. Done deal basically. Or you could find somebody on peer to peer. I believe that website is still up and going. Lastly, you could facilitate a deal on here. More risky, but somebody will probably send you funds if you e-transfer them.

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December 12, 2021, 09:40:40 AM
 #47

Alternatively, you can use exchangers, but you can guess about security yourself. And what's the problem then? Taxes?
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December 16, 2021, 03:53:44 PM
 #48

If I wanted to accumulate some BTC anonymously and just hold it
would this work?

Buy XMR on a KYC exchange.
Withdraw it to a Monero wallet connected by TOR or VPN
Transfer to a second Monero wallet connected by TOR or VPN
Send XMR to a non KYC exchange and buy BTC
Withdraw to BTC wallet connected by TOR

Any corrections, suggestions, or better ideas?

By using this scheme, you will pay an exchange commission for each trade operation. By using this scheme, you will pay an exchange commission for each trade operation.

The best anonymous currency is cash. None of the banknotes are specifically tied to an individual. During the day, the same banknote can change many owners and no one can say where that banknote was and where it will be in the next moment. No one is able to trace the movement of cash and therefore, cash will gradually be eliminated. Until that happens, you can use it and trade cash for BTC. How and where to do it? Pay attention to the signatures of some high-ranking forum members. 

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December 16, 2021, 05:27:46 PM
 #49

Why not buy Bitcoin directly to any KYC exchange and use a mixer instead?

Your process is too long so buying bitcoin directly would be the best option than buying XMR to BTC.

There are lots of Bitcoin mixers or tumblers you can try Wasabi it has a feature to mix them or use Chipmixer.

I agree with this statement.

The process that you follow OP is definitely tedious as you can skip some steps which are unnecessarily convenient. As what Bitmaxz had mentioned, purchasing BTC from your local exchange (though some require KYC documents) and using a mixer can easily acknowledge and follow the anonymity factor that you are hoping for. Another tip of advice, avoid putting your BTCs in an exchange if you plan on long-term HODLing. I suggest purchasing a hardware wallet to store your BTCs safely and securely.

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December 16, 2021, 07:00:39 PM
 #50

Why not buy Bitcoin directly to any KYC exchange and use a mixer instead?

Your process is too long so buying bitcoin directly would be the best option than buying XMR to BTC.

There are lots of Bitcoin mixers or tumblers you can try Wasabi it has a feature to mix them or use Chipmixer.

I agree with this statement.

The process that you follow OP is definitely tedious as you can skip some steps which are unnecessarily convenient. As what Bitmaxz had mentioned, purchasing BTC from your local exchange (though some require KYC documents) and using a mixer can easily acknowledge and follow the anonymity factor that you are hoping for. Another tip of advice, avoid putting your BTCs in an exchange if you plan on long-term HODLing. I suggest purchasing a hardware wallet to store your BTCs safely and securely.
But if you do big purchases, I'm afraid they'll ask KYC for you then. That was DaveF saying, it was better to make $1000 than $20,000 as this certainly gives a way to show your identity. If I were into hiding my personal information, I'll use Non-KYC exchanges with a little amount of purchases only. Plus, using mixing services is always the best option to absolutely makes become untraceable.

No, we should have to keep/hold our coins in our controlled wallets, not from exchanges if we wanted security and anonymity.

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