How to buy Non-KYC Bitcoin 💥
💡 Daily Reminder: Stay humble, stack sats
Bitcoiners,
At some point, you may want to buy bitcoin without your personal information attached to the transaction.
I covered WHY you should consider buying non-KYC bitcoin in a recent article:
Here are 4 ways to buy non-KYC bitcoin in 2022:
ATMs
In Person
Home mining
Online peer to peer (P2P)
KYC vs Non-KYC
Before we get started, you should know ONE thing - the difference between KYC and Non-KYC exchanges.
KYC (Know Your Customer) - identifying and verifying the identity of the customer through independent and reliance source of documents, data or information.
Non-KYC essentially means the opposite of KYC. Using a Non-KYC bitcoin exchange allows you to buy bitcoin that is not tied to your identity which is useful for privacy reasons. It can be considered illegal today in the United States, however, there are legitimate reasons to buy Non-KYC bitcoin outside of wanting to buy illegal drugs on the dark web.
ATMs
More than 33,000+ Bitcoin & Crypto ATMs are active in the United States. You can find a nearby ATM using coinatmradar.com. You can buy up to $950 worth of bitcoin per transaction without needing to provide KYC information (other than a phone number). Check out this guide on how to set up a phone number not attached to your name in order to buy non-KYC bitcoin from an ATM.
In Person
Find someone locally to meet up with and exchange bitcoin for cash. You can find people willing to sell by attending a local Bitcoin meetup in your city. Buying non-KYC bitcoin in person usually comes with a slight premium of 1-10% of the market price because no private information is gathered about the buyer.
Home Mining
Mining bitcoin in a mining pool is a great way to slowly accumulate bitcoin over time. There are some upfront costs in the range of thousands of dollars to acquire the necessary hardware and electrical setup, however, your only costs after that are the price you pay for electricity. A home miner named Econoalchemist put together a great beginner guide for home mining non-KYC bitcoin.
Online Peer to Peer (P2P)
Online P2P marketplaces such as bisq.network connects a buyer and seller anywhere in the world and escrow funds. You can buy non-KYC bitcoin for many different payment methods such as cash, gift cards, stablecoins, or a direct bank account transfer. It is essential to run Tor while accessing online P2P exchanges and consider other internet privacy tools to mask your private information.
BONUS: You can always earn non-KYC bitcoin by performing freelance work or being employed by a bitcoin company!
Happy Thursday,
-Pod
If you find any value in The Bitcoin Letter, please subscribe and tell a friend. By subscribing, you will be sent easy to understand information about Bitcoin along with any relevant news daily. That’s it. IT IS FREE AND I WILL NOT SPAM YOU!
BUY BITCOIN RIGHT NOW
I personally use Swan Bitcoin to purchase Bitcoin! Use the link below to get $10 free dollars worth of Bitcoin. Takes less than 5 minutes to sign up and I get a small commission :)
Eric Podwojski
Founder, Bitcoin EDU
Twitter:Â @epodrulz
Disclaimer: This should go without saying: This is not financial advice. This is not investment advice. I write this newsletter for education and entertainment. Act accordingly.
