Best Anonymous Bitcoin Exchanges

There are several bitcoin exchanges on the market which allows you to use the services without verifying your identity. This means that during registration no personal details need to be provided. At an anonymous bitcoin exchange, most of the cases you just need to provide an email and a password and you can trade instantly.

Advantages of Anonymous Bitcoin Exchanges

The identity verification process at bitcoin exchanges usually involves providing personal details, such as name, address, date of birth and attaching proof of identity and proof of residence documents. Most of the exchanges require identity verification process for AML – anti-money laundering – and KYC – know your customer – regulation applicable in the country where they are operating.

Identity verification on Bitcoin ExchangesThere can be several reasons why a user wants to avoid exposing personal information on a bitcoin exchange. Users can hide their credentials so no authorities, be it government or tax authority will be able to see their investments, profits and losses in bitcoins. It is also possible that you just do not trust the platform enough to provide your credentials to the owner of the site. Other people then just want to hide proceeds from various people, such as creditors, employees or even spouses for various personal reasons.

On the other side, the verification process also includes providing documents to prove your identity in a form of a photo ID and prove your residence. Validating this information may take longer. While you can start trading right away after sign up for an anonymous bitcoin exchange as you do not have to wait until the verification process goes through approval at the platform.

Disadvantages of Anonymous Bitcoin Exchanges

The biggest limitation of anonymous bitcoin exchange platforms is they apply a certian threshold for unverified users both in terms of trading volume and daily or lifetime withdrawals. This can cause potential problem to those who would like to engage in trading activity anonymously with a high amount of funds.

Completely Anonymous Bitcoin Exchanges

At completely anonymous bitcoin exchanges you do not have to provide any personal details to engage in trading activity. Some platform limits, however, the amount of available funds to a user or the different types of deposit or withdrawal methods for unverified users.

Trade anonymously with – In order to trade digital currencies on LakeBTC users don’t have to verify their identity, but the verification is required for trading with fiat currencies. There are no trading limits for unverified accounts. – the verification is only needed for those users who wish to use bank transfers for placing the deposit. Otherwise, there is no verification process on the site. The verification process, however, is not presented publically. All users who are looking to verify their account are directed to the contact page.

Bitsquare – You are not required to provide any sensitive information to Bitsquare upon registration. To start, all you need to do is download their software and start from there. Once you have finished downloading and installing the software all you need to do is register a password for your wallet and you are ready to trade.

BitQuick – Verification isn’t needed in order to buy or sell Bitcoins at BitQuick. In fact, users don’t even have to open an account to make a trade. They need just to enter an external wallet address and provide an email. Sellers have to fill a form that requires a few information about them but the process does not involve providing any personal documents to the platform. In some cases, the SMS verification or document submission may be requested by the exchange however on a case by case basis.

Wesellcrypto – Up on registration, you have to provide the following to the support team: a full name, a location, and your primary interest in cryptocurrencies, how much you expect to buy. The daily purchase amount is however limited to $15 USD per day.

Cryptonit – Cryptonit lets users use their platform without identity verification. However, there is a daily limit for unverified accounts in the amount 100 EUR.

Semi-Anonymous Bitcoin Exchanges

At couple of exchanges you can engage in trading activity right after signing up, however, the registration process involves providing a phone number. These exchanges often apply multiple levels of verifications, where on the first level you do not have to provide too much information about your self just to get started. Limits are applicable however in these cases too.

Anonymous bitcoin tradingCoinbase – One of the most popular bitcoin exchange lets their user use its services without uploading personal documents to the site. As a level 1 user you just need to provide an email and a phone number to register. The daily trading limits for level 1 user are 5000$ of BTC to buy and 25000$ of BTC to sell.

Kraken – As a Tier 1 user at Kraken deposits and withdrawals are available in digital currency only but you can trade with both digital and fiat currencies without verification. The necessary personal details for registration includes full name, date of birth, country of residence, phone number. Deposits in cryptocurrencies don’t have a limit, while withdrawals are limited to $2,500 per day and $20,000 per month.

Buysomebitcoins – In order to register at Buysomebitcoins, you just choose your country of origin, enter your phone number, full name and the password and your account is created. The account limit for unverified users is topped at $250.

Xcoins – During the registration process at Xcoins, you have to enter email, password, country, mobile phone number for 2FA. You do not have to provide any personal documents and no limits are applicable on the platform for unverified users.

P2P Bitcoin Exchanges

Currently, there is two major platform on the market which enables peer-to-peer bitcoin trading. At P2P bitcoin exchanges, you can buy and sell bitcoins directly from private individuals. You can keep a low profile and do not share any personal information during the purchase process.

Keep low profile while trading bitcoinLocalBitcoins – LocalBitcoins respects the anonymous nature of Bitcoin, so the ID verification process is not mandatory. To sign up, you need to provide an email address. While the exchange doesn’t require any personal information, some sellers or buyers may request identification in order to proceed with the trade.

Paxful – Setting up an account on the site is easy and can be done in two ways: automatically, after providing an e-mail not yet registered in their database during the checkout in a buying process or, by filling directly the registration form available on their website. Besides clicking the confirmation link sent to the registered email, users are also asked to set two security questions. Users can alternatively verify their mobile phone number and activate SMS notifications. While they can opt for being notified of a broad range of activity related to their account via email, only alerts about critical movements are sent via SMS.