Purchasing Bitcoin With No ID

April 9, 2020

Purchasing Bitcoin with no ID has some advantages but also some disadvantages. For this method we will be using the site LocalBitcoins. Feel Free to make an account and follow along through this tutorial.

Please note the advantages & disadvantages of purchasing Bitcoin without ID

CONS

Higher Exchange rate (More Expensive)
Can often be more complicated and inconvenient than simply buying with ID on a conventional crypto exchange
You can usually only buy a small amount of crypto before being asked to provide ID
There’s always the risk that your desire to remain anonymous attracts suspicion and unwanted attention

PROS

You can keep your financial information private
You don’t need to go through a time-consuming ID verification process
Makes cryptocurrency accessible to the estimated one billion people around the world who don’t have proof of ID

Now that you have gone through the Pros & Cons decide if you would like to use ID and this method or the more simpler method of buying from a safe and guaranteed site/dealer like Coinbase.

STEP 1

Make an account on LocalBitcoins and proceed to verify email.

STEP 2

STEP 3

Find the right seller for your needs (Paypal,Bank transfer, etc) Note that these sellers are private sellers and you should read the TOS they have posted as some still ask for ID. for this example I am trying to purchase 5 USD using Interact E-transfer in Canada.

STEP 4

Once you have found your seller and have agreed to their posted Terms & Service agreement you are able to start the transaction and the rest is explained on screen. note the trade limit as some sellers will not sell as little as $5 and the minimum purchase will be around $20-$50 but this is what you deal with when you are not providing ID and using a non verified way to purchase Bitcoin. As you may be able to tell we HIGHLY recommend just using Coinbase as it is trusted, Easier to understand and the Gold standard among hundreds of thousands.