News

Association of E-commerce to cryptocurrencies lever quality of negotiations and physical stores have a promising future

June 20, 2019 by Cameron Bowen Leave a Comment

Cryptocurrency is a decentralized payment method. Its success is unquestionable since it allows us to have an alternative to payments on products that we use in our routines. The consumer and supplier have at their disposal the tool for buying and selling products without the interference of banks, which charge absurd fees on each transaction. The autonomy to dictate what is sold, what is bought and how it is paid, benefits everyone, mainly by the price decrease of all the operations involved in this process. The use of cryptocurrencies on business are factual when we think about transparency, accuracy, and safety.

However, it is still necessary to take care, being the consumer and/or supplier, if you trust your payment tool with cryptocurrencies. Through our research, we analyze and report Mindexcoin, a project responsible for guaranteeing all security, ease, and speed when it comes to encryption and, in addition to that, the suitability of e-commerce with the other project called MindexPay. The idea is to add to digital commerce the possibility of a payment in cryptocurrencies. Let’s understand why these projects have one of the greatest potentials for the renewal of e-commerces.

One of the specialties of Mindexcoin is to provide its own cryptocurrency, that was thought based on the following essential parameters: bigger, better and more effective. Its team of highly skilled developers broke away from the Ethereum blockchain and created their own in January 2019. In addition, MIC is already present in two major exchanges DigiFinex, the third largest exchange in the world and Idax, one of the top 10 exchanges in the world, which moves more than $1 billion a day. In trading volume, according to CoinMarketCap, the cryptocurrency already reached the third position in 24h, reaching the mark of 714% increase and 1,452.20% of ROI (return on investment).

The need for the adequacy of the current market is predictable. Payment systems with cryptocurrencies are approaching the margins of our society’s achievement and are already present in many service spheres. Thinking about this, Mindexcoin created MindexPay, which allows the payment of MICs directly to users’ business wallets at MindexWallet. It is amazing to imagine how this digital currency service can facilitate commerce transactions in general, but more than that, imagine a complete system of payments and receipts dedicated to e-commerce. This market innovation still does not intend to stop at this point thanks to the future project of Mindexcoin: to associate the world of the cryptocurrencies to physical stores. With this idea, making purchases of products in the market near your house, create contracts directly with the seller and pay it in cryptocurrencies will be as possible as is probable. This reality provides yet another incentive for business owners to invest in the technology of Mindexcoin creators.

MindexPay

At Mindexpay, the user has access to an API in its MindexWallet, which is a software that allows you to receive and send information between apps more safely and quickly. The user, in this case, would have the assurance of practicality in its transactions.

The non-concern with problems in online payments is a reality already guaranteed by the Mindexcoin team. The technology developed over MIC and MindexWallet was designed to work perfectly on the criteria of quality, speed, and efficiency. It is easier to guarantee the stability of service when it is the company itself that does the whole service, which provides the steps of a successful transaction.

Making a bet of guaranteed return is to see about your reality what is at its most advantage and to invest, deeply, on some special purpose. Realize the needs of commerce is to be updated about the progress of your company in the coming days, months and years. To think about the future of the cryptocurrency, Mindexcoin and its MindexPay are the reliable tools to gradually develop their relationship with the financial world.

eToro Exchange Launches in the US: A New Way to Trade Using eToro USA

March 25, 2019 by Jeremy Baker Leave a Comment

American investors can now trade cryptos without any prior knowledge of the market thanks to eToro USA. Active in the UK and Europe for more than a decade, eToro Exchange is a social trading platform that allows novice traders to stand on the shoulders of experienced investors.

Now live in 32 states, eToro USA currently offers markets for 13 cryptos, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP). As the platform grows, more cryptos will be added to the mix. On top of that, traders can also test out the new eToroX Exchange for additional investment options.

Contents

1 Buying Bitcoin et al Using eToro USA
- 1.1 eToro USA Pros
- 1.2 eToro USA Cons

Buying Bitcoin et al Using eToro USA

etoro has opened in the USA — 13 major cryptocurrency coins are available to US investors. **Image:** Immersion Imagery/Shutterstock.com

To show you how eToro USA differs from other exchanges available in the region, here are the important pros and cons.

eToro USA Pros

Simple Social Trading: The reason eToro Exchange appeals to novices is its ‘follow’ feature. Much like Twitter or Instagram, you can follow experienced investors and the site’s software will mimic their trades at a price point you select. This feature basically allows anyone to start trading cryptos without any prior knowledge.

Safe and Secure: Even though the top online crypto exchanges have become more secure, none of them are currently regulated in the same way as eToro. Being a financial trading platform that deals in multiple assets (not just cryptos), this company has to be licensed by multiple financial authorities. These regulations keep eToro, its financial liquidity, and processes such as ID verification in check at all times.

Accessible and Convenient Interface: As well as payment options such as PayPal and Visa, eToro USA has been refined over the last decade. This makes it stable, efficient and easy to understand. In contrast, Paxful Exchange has only been around since 2015. For developers to perfect their product in that amount of time is tough, which is why eToro wins in terms of accessibility and convenience.

Next Generation Trading: eToro USA is also behind a blockchain-based venture known as eToroX. A new type of exchange that offers crypto assets secured against stable coins, eToroX is next generation trading for advanced users.

Simple Wallet Solution: If you’re an eToro Gold member or higher, you can access a blockchain-based crypto wallet. Capable of holding multiple coins, including BTC, ETH and LTC, this wallet allows you to move tokens to and from your eToro USA account with ease. What’s more, when you download the iOS or Android app, you’ll receive a personal blockchain address (through the eToroX platform). This allows you to make on-chain transfers and store you private keys on the blockchain.

eToro USA Cons

cryptocurrency available on etoro usa platform — eToro will work to add more altcoins in an ambitious attempt to catch yup to Kraken. **Image:** Lukasz Stefanski/Shutterstock.com

Fewer Coins: If you look at top-rated crypto exchanges such as Kraken, you’ll see that it lists more than 50 digital tokens. At present, eToro USA only has 13 cryptos to invest in. Although that list will grow, it will be a while before it catches up with traditional crypto exchanges.

A Difference in Deposits: Scroll through our list of places to buy Bitcoin and you’ll see that Coinmama, CEX, and Binance all have minimum deposits of $1. In contrast, eToro US asks you to deposit at least $500.

Higher Fees than Exchanges: Although fees will vary from site-to-site, you’ll typically pay around 0.1% each time you buy or sell digital tokens via an exchange. At present, eToro Exchange charges you $25 each time you make a withdrawal. Additionally, trading fees (spreads) are as high as 2.9%. This means novice traders may have to invest slightly more than they’re used to in order to make their time online worthwhile.

Local Restrictions: Because of regulatory issues in the US, eToro Exchange USA can’t offer contracts for difference (CFD) trading. This type of trading is available inside eToro’s international sites and provides a flexible way to speculate on price increases as well as decreases. At this stage, eToro USA only allows you to buy the underlying assets and not CFDs.

Market Experience: Although eToro Exchange has been active in Europe for years, it’s a newbie in the US. Because each country has its subtle differences in terms of consumer preferences, the operator may experience certain teething troubles as it adjusts to life in the USA.

Featured image: Grey82/Shutterstock.com

eToro Launches Multi-Asset Trading Platform to the US Market

March 7, 2019 by Cameron Bowen Leave a Comment

eToro has entered the US market, the world’s largest multi-asset trading platform was the first to bring cryptocurrency CFDs to the masses and now they’ve brought their revolutionary social platform to the US.

The US has always been a key feature in the crypto market but this is likely to evolve further with the introduction of a platform that allows for the sharing of trading strategies and users to copy the profitable investors. Available in 32 states, it offers 13 cryptocurrencies including Bitcoin, Ethereum, Ripple, etc, with more expected to be added through 2019.

The functionality is simple and allows both new and expert investors to easily navigate the platform. Each account shares performance related information to the eToro community, this includes an investors track record (as a percentage), their portfolio and when they open and close a trade.

The information on show can help users make more informed decisions on their investments whilst the CopyTrader feature actually allows the user to allocate funds that will trade to the portfolio of another user.

This benefits both novice and expert investors. The reason being that the novice investors can copy the experts and simply profit from their trades. The experts then profit by being followed, the more followers the more they will earn. This automatically brings the already close knit community closer together and also bringing new traders to the crypto industry.

The US market is huge and whilst there are crypto traders active there, they have no access to the functionality that eToro offers.

eToro CEO, Yoni Assia, said: “For the first time, Americans can collaborate with other crypto traders when making buying and selling decisions. Users can adjust their trading strategies by watching and learning from others on the platform. When I founded eToro, I envisioned a community where people could trade, invest and share their knowledge in a simple and transparent way. eToro also acts as a bridge between the old world of investing and a blockchain-powered future, helping our users navigate and benefit from the transition to cryptoassets for wealth building. People create the eToro experience and now Americans will play a major role in shaping our community and future.”

As highlighted, eToro has led the way in the global fintech movement, it has a firm belief that the blockchain industry will disrupt the traditional global financial system and that at some point in the future, all assets will become tokenized.

The company is positioning itself to be the leader when it comes to helping users transfer their wealth onto the blockchain. This year they plan to launch their own cryptocurrency exchange which will make transactions easy and safe for users. eToroX is currently in its beta stage but expect to see this revolutionary platform live before not too long.

Mindexcoin to Escape Ethereum Uncertainty in Favour of Innovative Blockchain Solution

February 5, 2019 by Cameron Bowen Leave a Comment

Mindexcoin (MIC), the Ethereum-based token that achieved a CoinMarketCap listing in 2018, is changing. After launching in December 2017 and successfully progressing through seven rounds of ICO funding, we are migrating to a custom-made blockchain. The decision to move away from Ethereum comes after a turbulent 2018 for the smart contract platform.

Network congestion and increasing fees combined with continued issues regarding scalability saw Ethereum crash in 2018. From a high of more than $1,300 at the start of 2018 to just over $133 at the end of the year, Ethereum lost its position as the second most valuable cryptocurrency.

With continued uncertainty as to direction Vitalik Buterin is going to take the blockchain, we have taken the executive decision to move.

Contents

1 Taking Charge of Our Own Fate
2 A Fresh Start Based on Solid Fundamentals

Taking Charge of Our Own Fate

Because we want to ensure investors aren’t adversely affected by factors beyond ours or their control, we will relaunch our token on a newly formed network. After analysing the current models, Litecoin was chosen as the inspiration for the new Mindexcoin blockchain.

One of the cheapest, most efficient and stable blockchains for crypto payments, Litecoin technology is the perfect base for Mindexcoin’s token, payment system and overarching goal. In developing the blockchain, our team has taken the lessons learned from Litecoin and built a network that complements the Mindexcoin wallet and payment processing software we launched in 2018.

A Fresh Start Based on Solid Fundamentals

Those with MIC coins are instructed to deposit them into their MindexWallet by February 5. As a sign of good will during this transitional phase, all MIC balances deposited by the deadline will be multiplied by four.

Any coins that haven’t been transferred by the end of February 5 will become obsolete. Following the conclusion of the transferal process, new Mindexcoins will go on sale from March 20. The new tokens will be available through the MindexWallet at the market rate prior to the switch.

Moving away from Ethereum will not only protect the value of MIC but create one of the only complete systems in the industry. With a new blockchain adding to an already active wallet, payment system and token, Mindexcoin will stand out from its peers. What’s more, we’ll have much greater control of our own destiny. Mindexcoin has all the tools to succeed, something we believe investors old and new should benefit from in 2019 and beyond.

Featured Image: NicoElNino/Shutterstock.com

Which are the best places to get Bitcoin ?

January 2, 2018 by Mike 24 Comments

If you came to this page because there are just too many places to buy bitcoin – then you are at the right place. The overwhelming number of bitcoin exchanges makes it hard to narrow down to only the best options out there. From there being only six major trading sites in 2014 to more than two hundred in 2017 – it’s no surprise that new bitcoiners get lost when researching where to get their first bitcoins.

The purpose of this page is to get you using the most secure and trustworthy bitcoin exchange. I will show you how easy it is to get your first coins on a popular trading site with excellent reviews. Most importantly, I’ll demonstrate which sites work best with your desired deposit method – be it credit card, bank transfer, cash, or paypal.

Comparison of the best sites to buy bitcoin

Below is a table that summarizes the best places to buy bitcoin. You’ll find sites ranked by: available payment methods, fees, ease-of-use, and reputation. Some sites have multiple methods to deposit money, while others focus on one. The fee column represents commission levels on each exchange.

Contents

1 Top sites to buy bitcoin with a credit card
2 Best sites to get bitcoins via PayPal
3 Leading sites to buy bitcoin with a bank transfer
4 Where to trade alternative crytpocurrencies

Top sites to buy bitcoin with a credit card

The first thing to consider before asking where to get btc with a credit card, is that this service has only existed very recently. People find it quite incredible – why did no one offer card deposits before? Simply because credit card transactions were partially reversible by the bank. So these exchanges had to first gain lots of trust and goodwill before banks would allow them to operate over the SWIFT network. Using a card to buy btc means confirmation waiting time has been significantly reduced.

The following list of sites accept credit cards:

eToro

eToro platform page

Originally from Cyprus and now with offices all over the world, eToro is a leading social trading platform that is one of the first brokers that allowed their clients to buy, sell and trade bitcoin and other cryptocurrencies. They offer various payment methods to deposit into an account, like most providers they offer credit cards, as well as paypal and similar offerings.

One of the biggest benefits of choosing a broker like eToro is that they are regulated by large institutions like the financial conduct authority based in the UK. Regulation does give the user an increased level of security that cryptocurrency exchanges simply do not have.

It continues to add coins to their offering, with Zcash and binance coin being the last to be included in their portfolio, this means that you can diversify yours fairly easily.

One of the biggest features that eToro offers is the social trading platform, now available in the US, you can simply find the best traders in the world and copy their trades. There is a function that automatically takes the same trades as the pros, meaning that you don’t need to be at your desk waiting to see when they take a trade!

Coinbase.com

Coinbase

Based out of San Francisco, Coinbase allow users to buy with USD, Euros & GBP. Be sure to read up their information page which will help you get started. Coinbase really is a great site for multiple reasons, but most importantly because it’s intuitive. The user interface is so appealing and simple to use. Coinbase is also one of the most secure exchanges site and has over 18 million happy users per month. Card purchases are real simple and fees remain very competitive. The best part is that all user wallets are insured. Expert users can even activate a super-advanced & secure mutli-signature wallet. This guarantees that in the event Coinbase were to go offline then these users could still move their coins.

Like all major exchanges, Coinbase do require ID submission before you can finalize an order. Current verification times are reportedly slower than usual. Should you want to trade like a professional: use GDAX for larger volume transactions and cheaper fees.

While Coinbase really does offer some very cool features for both beginners and experts, it is hard to believe that the best-funded bitcoin exchange out there persistently goes offline during large sell-offs. I urge caution if you are wanting to buy or sell your Bitcoin you may have to wait several hours just to sign in.

Coinmama.com

Coinmama

Coinmama, based in Israel, accepts both credit card and cash (via Western Union or MoneyGram). I often recommend Coinmama as a backup option for buying BTC with a card when other exchanges are not accepting your card. Coinmama has a very flexible policy with regards to the amount of countries that are accepted (far more than Coinbase). Due to a relatively “offshore” location and cash deposit methods, Coinmama is another excellent site to keep things as private as possible. This goes without saying, the website is nicely designed and works perfectly on a mobile browser as well as desktop. As a beginner, my mother finds Coinmama really easy to use. Customer support is truly amazing compared to Coinbase or other large exchanges. I strongly believe that Coinmama will rise to become a very popular option.

Cex.io

Cex

Update: Cex has suspended new account registrations since late December 2017. Supposedly this is only a temporary measure.

CEX is an integral part of my guide, because they offer a diverse range of services. This tutorial would feel empty without including them here. I also really appreciate the fact that customers can learn easily on CEX thanks to a fully beginner-optimized process. This UK based bitcoin exchange (ETH BTC) originally was a cloud mining operator. Due to increasing demand, it was decided to start offering bitcoins for sale. They now have over 700 000 users and accept Euro, US Dollar, and Russian Ruble. Wire transfer and SEPA payments are also accepted. CEX have a Level 2 PCI DSS data security clearance meaning that this site is extremely trustworthy with users data and money.

Pro-tip: Issues with your address/country? Try using Coinmama – it’s a great site for credit card purchases. Their service is becoming a very popular alternative because of the ease at which anyone can buy from anywhere around the world.

Bitstamp.net

bitstamp

Bitstamp is rapidly gaining popularity in Europe as the best place to buy btc online. With its recent new HQ in Luxembourg (previously London), along with its well-acclaimed acceptance of Mastercard & VISA, Bitstamp has attracted quite a large user base among those asking how to get bitcoins with a debit card. As an added benefit, this is the cheapest place to trade BTC USD or EUR for high-volumes. The sign-up process is easy and once validated you will be able to purchase immediately. Withdrawing is just as fast. The ease of use here makes it an excellent choice. I would definitely recommend this to my mother.

Best sites to get bitcoins via PayPal

You may already know that using PayPal to buy bitcoin will entail high transaction fees. Some people prefer using Paypal when other deposit methods are not available to them. The following list of sites accept PayPal:

Paxful.com

Paxful

Paxful is located in Delaware, USA. This site is obligatory in any tutorial on how to invest bitcoin, simply because they offer a really wide range of features. Not only can you go from paypal to bitcoin on Paxful, but you can also use Amazon gift cards too (and others such as OneVanilla, Walmart, Bestbuy, and Gamestop). Google Wallet is also accepted by vendors here.

You will find that it is all about finding a vendor that is ready to trade with you. Yes, it is true that other sites offer an easier process, but where else can you exchange virtually anything for the most popular cryptocurrency in existence? Check out Paxful’s instructions and read up the FAQ. I do prefer LocalBitcoins to Paxful – especially so now that the former accepts PayPal.

Xcoins.io

Xcoins

Xcoins are a good option for purchases using Paypal, ACH, or eCheck. The major downside lies in the significantly higher-than-average fees charged. The platform uses an innovative feature of lending bitcoins on peer to peer basis. This enables instant transactions and makes Xcoins the fastest of all sites to get BTC with PayPal. I have had a few opportunities to interact with support and they are very swift to respond and fix issues. In terms of popularity, Xcoins are definitely easier to use than WeSellCrypto was and have twice the amount of traffic.

Leading sites to buy bitcoin with a bank transfer

If you’re looking for the fastest way to buy then using a bank transfer may not be for you. However for those seeking to acquire large amounts, this is by far the best way to proceed. Why? Because fees are so much lower. Expect waiting times of up to 72 hours for SEPA and wire transfers.

Additionally, this payment option is particularly useful in the US. Although financial institutions and states are starting to embrace all cryptocurrencies, there are still issues with certain credit card providers.

With that being the case, a bank transfer is often the only viable, secure way to make deposits and withdrawals. So, if you’re in the US or any other country where credit/debit cards are an issue, you may want to consider the following bank-transfer-friendly platforms.

???? Note: I recommend Coinbase for bank transfer purchases (fast SEPA, Wire, SWIFT deposit and withdraws) as it is far more beginner-friendly & offers cheaper rates than the sites below. Coinbase also has insured wallets for all clients.

eToro.com

eToro

Now available in the US, eToro Exchange is a versatile platform that accepts multiple payment options. In the UK and Europe, customers can deposit a minimum of £200/€200 using their credit/debit card, PayPal, Neteller, Skrill or bank transfer. In the 32 states eToro USA is currently licensed in, you can use bank transfers to deposit $500 or more. After selecting “wire transfer” via your account page, you need to input the broker’s details to your online banking page. From there, you’ll be issued with a wire document that eToro will then use to credit your account. On average, it will take around four days for your deposit to complete.

Although this process takes slightly longer, it’s part of licensing agreements eToro USA has in North America. For you as a consumer, this process not only prevents deposits from being rejected by your bank, it keeps your money safe. Indeed, one of the major selling points of eToro Exchange is that it’s regulated by multiple financial authorities. This, in tandem with 13 crypto trading options, makes it one of the safest places to buy and sell coins. Therefore, if you’re in the US, it’s worth going through the transfer process to ensure you get the best service possible.

eToro:
• Regulated by multiple agencies
• Highly secure deposits
• Trade 13 different cryptos
• Social trading lets you copy experienced investors.

Kraken.com

Kraken

Update: (Dec 2017) Kraken are currently experiencing major website issues. Please avoid for now.

Operating out of San Francisco, USA since 2011 – this site is optimised for serious buyers wanting to actively trade BTC (Kraken uses the official “XBT” currency code). More and more Cryptocoin markets are up and running too (for example Ethereum & Zcash trading have been added recently).

KBank transfer (wire SEPA) deposits is the only deposit method available. Deposit currencies include euros, US dollars, and KRW (Korean Won). It is super cheap to deposit, withdraw, and trade on Kraken. Daily volumes are always high, and an excellent fee transparency guarantees low commissions and that you get the cheapest coins. Rumor has it that Kraken could add leveraged trading (yes – short selling) sometime soon.

Where to trade alternative crytpocurrencies

Aside from bitcoin, there are many more cryptocurrencies out there. In fact there are thousands of popular “altcoins” (alternative coins) that are traded every second, round the clock. Below I’ve listed two of the most popular exchanges for trading cryptocurrencies. Do please note that you can only deposit BTC (and other non-fiat coins) onto these sites.

Binance.com

binance

Binance stands as the first Chinese cryptocurrency exchange to gain massive mainstream & international appraisal. Currently, new users are joining the platform faster than even Poloniex ever knew. The exchange offers its own token (BNB) which allows traders to get a 50 percent discount on fees when placing orders. Launch date was in mid-2017 and kicked off with a very successful ICO fundraiser (over 20 million usd raised).

In my opinion what sets Binance apart from all the other crypo trading sites is that users can choose between an advanced trading interface or a simplified beginner-friendly one. Such a feature has proved immensely successful, as there are currently over 15 million monthly visits from pro-traders and newbies alike.

Yobit.net

yobit

Yobit is popular within the English, Russian, and Chinese speaking crypto trader community. The website currently receives 10 million monthly visits. Nearly every single coin in existence is listed on Yobit. Some see such expansive listings as a disadvantage, while others enjoy being able to buy early before other exchange potentially list a coin.

The UI is appealing and rather easy to use as a beginner. Just make sure you understand those basic trading terms for placing buy/sell orders efficiently. Fees are currently set at 0.2 percent of your trade – a relatively competitive rate.

Bittrex.com

Bittrex

yobit

When it comes to pro trading cryptocurrencies, you will always hear the name “Bittrex” in every conversation. The site has gained an abundance of traffic and new users since its rival Poloniex started experiencing issues and customers fled looking for alternatives. Bittrex has done a great job providing a consistent service, good up-times, relatively better customer support, and high volumes for making big buy or sell orders.

Although Bittrex do not list as many coins as Yobit, it can be a good place to start trading your first altcoins. There are plenty of Youtube tutorials on using their trading interface.

Which is your best site for buying bitcoin? How do you like the exchanges listed above? Let the community know by leaving a comment below.

Why so much identity verification… which sites don’t require ID?

January 1, 2018 by Mike 23 Comments

id-verification

You may have heard that to buy bitcoin one needs to submit a series of identification documents to the trading site. Such documents may range from copies of passports & utility bills, to selfies of yourself holding a custom message. When I first stated using bitcoin in 2013 none of the exchange sites asked for passport or utility bill photocopies. Now in 2017 virtually every bitcoin exchange is obliged by law to do full KYC (know your customer). This is to prevent cyber-crime and money laundering. Some anarchists say the government worries that you might be gaining too much economic freedom.

All things said, it is very important to be aware when seeking recommended places to buy bitcoin without ID. Even if you choose a full-KYC exchange you should still be realistic and take precautions to protect against identity theft or abusive practices by exchange operators.

Note that most people are 100% fine getting their cryptocurrency through normal verification procedures. Ask yourself do you really need to obfuscate your existence or not.

Recommended place to buy Bitcoin

Contents

1 How to stay anonymous when buying bitcoin
2 Some sites have excessive ID vetting
3 Protect your documents against identity theft

How to stay anonymous when buying bitcoin

Should you need to stay anonymous when buying bitcoin, this is possible but expect to pay a higher cost per bitcoin. Most sites are charging premiums of 20% to 40% for customers without identification. Another thing to remember is that not each method will be the same. There are means for buying cryptocurrency with no ID that may require you to meet up in person. Others may require wait periods of up to 3 weeks before the digital assets are released from escrow to your wallet.

Not all anonymizing procedures are as tiresome though. I’ve ordered each one below by the ease at which you can purchase bitcoins while keeping your identity relatively private.

Here are the best places to get bitcoin without ID:

eToro – When opening an account with eToro you don’t need to give any identification when depositing less that £2,000. This means that you can very easily and quickly invest in bitcoin and other cryptocurrencies. Above £2,000, you will be required to provide KYC documents, this is needed for anti-fraud purposes. One of the huge advantages of using eToro is that it is a regulated broker both by the British FCA and the Cypriot CySEC, meaning that your funds are secure up to £80,000. If the company were to become insolvent you would still be able to claim back anything under £80,000 which is a real positive when looking to invest in cryptocurrencies, especially given the poor reputation some of the exchanges are getting.

Buysomebitcoins – also a leading site to buy with no ID verification using a Visa/Mastercard. The exchange is registered in the United Kingdom and has gathered some good user-reviews. Commissions are extremely high for buying without ID: expect to pay 30 percent. Fees are lowered if you submit ID. Such discounts are titled “Verification rewards” by Buysomebitcoins. Two exist: an ID “verification reward” and a “card ownership verification reward”. You may be asking how does Buysomebitcoins get around the KYC obligations imposed on exchanges. Well, supposedly their site is a “P2P Marketplace represented by multiple companies in different countries” – thus entitling the same loopholes for buying bitcoin without ID as those localbitcoins buyers currently benefit from.
Shifting sites – a great (much cheaper) alternative. It is indeed possible to anonymize an ID-verified purchase of bitcoin (assuming you got the BTC on a full “KYC” exchange). Such a procedure is sometimes referred to as “altcoin shifting”. Note that specialized blockchain forensics experts can, and sometimes do, follow coins that have been shifted. Nevertheless, the coin shifting procedure is relatively simple:
1. Someone buys bitcoin (or any other crypto asset) on a major exchange such as Coinbase. Their ID is verified and therefore these coins are “tied” to their name.
2. The coins are withdrawn from the major exchange, onto a cryptocurrency-only trading site like Binance, Yobit, or Shapeshift. Because government fiat currency deposits are not available, the exchange is not required to verify users’ ID.
3. The user then trades their bitcoin for any other crypto asset and withdraws the new altcoin to their wallet.
4. Voila! Now only the 2nd exchange knows where those new coins came from. The first exchange only sees the coins being sent to the 2nd exchange’s address. Because the trading happens off-blockchain, it is very hard to trace what went on.
5. Any other crypto-only exchange can then be used to switch the user’s altcoin back into bitcoin – totally anonymously.
6. This process can be repeated using a vast list of alternative trading sites – each time further anonymizing the coins.
Livecoin – very popular in the Russian crypto market (yet gets many English-speaking users). Traders can deposit and withdraw via Captialist, Advcash, Qiwi, Payeer, or PerfectMoney. No form of vetting is required for using such deposit/withdraw mediums. Livecoin gets over 12 million monthly visits, so it stands as one of the most popular options here. Fees are relatively acceptable (expect to pay ~10 percent) compared to other methods for maintaining your privacy.
Indacoin – similar in nature to the Buysomebitcoins website. Customers can use their credit card to acquire bitcoins without registration or proving who you are. The major downside to Indacoin is the huge markup of up to 50 percent compared to standard exchange prices. Transaction limits are set at $100 usd for first-timers, $200 usd after 4 days, and $500usd after 7 days. Aside from the outrageous fee, Indacoin is a relatively hassle-free & beginner friendly website.
Paxful – operating since 2015 in Wilmington (USA) , this is another prominent person2person platform where sellers and buyers make trades directly between themselves. Just like Localbitcoins, the p2p nature of the exchange allows users to keep their real names and identity relatively secret. The major advantage of using Paxful is the amount of payment methods available (300+). The most popular deposits types are iTunes/Amazon Gift Cards, Paypal, Skrill, NetTeller, Webmoney. Users can also make cash purchases via Western Union, MoneyGram, cash in person, cash deposit to bank, or using a Bitcoin ATM. While there are some sellers that ask for your real name for large volumes, I have never been asked for a copy of my passport for smaller orders under $1000 usd. Paxful is currently the best site to buy bitcoin without ID because of the range of choice for depositing money.
WeSellCrypto will allow you to buy small amounts (~15 usd) with PayPal as they don’t bother checking your ID unless you do larger transactions. Update: this site is having issues with PayPal – trading has been disabled for now. Alternatively you can use Localbitcoins or Paxful for Paypal purchases.
CoinATMradar – a super handy website featuring an interactive map of global bitcoin ATMs (aka bATM). Simply search for your location, select the nearest machine, and check the requirements for buying. Note that there are over 55 bATM manufacturers and 125 operators around the globe. Knowing who made and who operates your chosen bATM will give you extra insight into the buying process. I say this because some do sell bitcoin without ID being requested, while others will need a passport before exchanging cryptocurrency for your fiat paper money. Keep in mind that just like buying with cash, bATMs take a higher commission relative to the spot price. Expect premiums of 10 to 20 percent, depending on the machine operator.
Bisq – the most reputed decentralized person2person crypto exchange, in operation since 2016 (previously known as “Bitsquare”). Also a good place to buy ethereum without ID. Read these points before using:
- I only recommend Bisq for more advanced users. You should be comfortable with managing bitcoin private keys, and maintaining your PC’s security.
- Users must download the software to connect up to the network and make trades. Officially the software is still in beta testing, but it can still be used to trade with others without registration – and doing so relatively anonymously.
- No identification is needed to trade, but – just like with Localbitcoins – your name will be visible on the seller’s bank statement.
- What I love about Bisq is that it is essentially a wallet with multisig capabiliites. Such a system allows you to choose an arbitrator for each trade. Arbitrators act as intermediaries for resolving problems – similar to how Paypal disputes work, just in a decentralized manner.
- For a longer explanation, watch this Youtube video of Bisq cretor, Manfred Karrer, giving a presentation of the exchange.
- For those wanting to sell bitcoin without ID using Bisq: be sure that your bank is bitcoin-friendly. In some cases sellers have had their accounts closed for receiving transfers. Although the bank never knows that transfers are arranged through Bisq, such institutions can get nervous when anything new starts threatening their business model. There is a Bitcointalk forum post that keeps tabs on which banks are bitcoin-friendly and which are not.
Tumbling/mixing services – this was a pretty cool idea that worked for some time. Now it’s hard to know which services can be trusted and which are not keeping logs etc. Some new altcoins have built anonymity or mixing right into the core transaction protocol. Look into Dash, Monero, or Zcash.

Some sites have excessive ID vetting

Some exchanges really are worried that they will get shut down by the FinCEN should they not know every single detail about their customers. Others take advantage of the KYC-craze to collect information on their users personal and commercial habits. Of all the major exchanges these three are currently receiving slightly negative reviews with regards to overbearing KYC verification methods:

Bitstamp – by far the worst personal information requests have been made by Bitstamp support. When users go beyond certain deposit/withdraw thresholds they then get sent intrusive information requests beyond the usual passport/utility bill combination.
Gemini – long verification wait times. Occasional account flaggings & automatic closures have been reported.
Bitfinex – very long verification process, significant amount of documents required.

Please note that while the above sites may not have smooth verification processes, they remain very trusted and popular platforms. Millions of users trade on each site every month. Read my guide to get further information on how to recognize a good vs a bad bitcoin exchange.

Protect your documents against identity theft

Just realize that this is the new age where your ID is scattered all over the internet. If a web-server gets hacked, then all files can potentially be stolen and used elsewhere. For this reason I would recommend choosing the safest sites only. Check my list of the most popular bitcoin exchanges to get an idea of secure trading sites that people like to use.

Best practices recommend that exchanges keep users’ personal ID information on a separate server. Such a server should be offline and only connected up when the initial vetting process is underway.

A good method you can use to prevent identity theft is to water-mark any documents you submit. Some users like to write a message such as “for Coinbase only” on their passport copy. Such techniques prevent malicious actors from easily using your ID to open an account elsewhere.

Please note that in most cases your personal information is safe. Large exchanges are increasingly required to follow very strict safety measures and all store users’ files offline.

Have you any advice for ID verification or staying anonymous when buying bitcoin? You can let the community know by leaving a comment below.

Recommended places to buy Bitcoin