Anonymous Crypto: How to Buy Cryptocurrencies Without KYC (No ID Required)
- Accessing the Exchange
- Step 0
- Step 1
- Step 2
- Step 3
- Step 4
- Step 5
- Step 6
- Loans with Synthetic Cryptocurrencies
- SWOT Analysis
How to Buy Cryptocurrencies Without KYC (No ID Required)
Cryptocurrencies emerged as a solution and alternative to FIAT currencies. However, their primary advantage is anonymity. But the big question is: for small amounts, it’s fine. But for large amounts, how do we do it? Above all, we will need two things:
- An email account.
- A VPN of any kind.
Therefore, I want to present to you the two ways I buy/sell cryptocurrencies (read: Bitcoin). I will detail each step so all of you can use them.
How to Transact Cryptocurrencies and Remain Anonymous
First, we need to understand the concept of P2P (Person to Person). It is nothing more than negotiating directly with people, without intermediaries—in this case, exchanges or banks. When you visit the Bitcoin.org website, you can analyze the available exchanges.
Personally, I really like Hodl Hodl. I tried Noones and found it quite expensive. As for Bisq, I don’t like the idea of having to install software on my machine to transact. Once you become a developer, many security concerns cross your mind.
Before we begin, I recommend activating the VPN on your computer and accessing your email. I recommend both from Proton.
Let’s start by accessing Hodl Hodl and creating an account.
Step 0
Let’s create an account. Since no authentication is required, we only need an email and a 2FA (Two-Factor Authenticator). I use Apple’s, but you can use 2FAS, for example.
Activate your account by accessing your registration email.
Step 1
After registering, it will prompt you to set up 2FA. For this, you can scan the QR code or use the access code. Then, it provides some backup keys in case you lose your 2FA. Store this carefully where you will remember later.
Step 2
Choose which side you will act on: buy or sell. I will act as a buyer in this example.
Step 3
Select a proposal.
Step 4
In the first transaction, it will ask you to create a payment password. Download a password generator/manager like Bitwarden, which I use here.
Step 5
Fill in: the amount you will negotiate. In my case, this seller only accepts a minimum of R$1,000. Enter the Bitcoin address and also the payment method.
Step 6
The next steps are as follows:
- The seller deposits the Bitcoin amount into escrow. This sum remains held there until payment is confirmed.
- Once the Bitcoins have been confirmed in escrow, the payment option is enabled for us, the buyers. We proceed with the payment.
- When the payment clears in the seller’s account and they release the Bitcoin from escrow on the other side, the Bitcoins are sent to your specified wallet.
- The transaction is only completed after both parties signal positive. If there’s an issue, Hodl Hodl will open a dispute and hear both sides. Judges (experienced users) will make the best decision. They are always fair to both sides.
Account Information
You can access your account and notice there is no association with your real identity. Only email and 2FA are required.
Loans with Synthetic Cryptocurrencies
I haven’t tested it yet, but the company itself allows lending or borrowing synthetic crypto assets: Liquid, Ethereum, Tron, and Omni. You can estimate the term, interest, and loan coverage. This is quite interesting. However, I still need to verify how margin calls would work if the price plunges.
Quantitative Analysis: RSI2 and EMA200
For the sophisticated investor, anonymous acquisition is only half the battle; entry timing is critical. When accumulating Bitcoin or major altcoins, we utilize the EMA200 (200-day Exponential Moving Average) as our primary trend filter.
Strategic Insight: Maintain a bullish bias only when the price is trading above the EMA200. To optimize entries, monitor the Connors RSI2; a reading below 10 indicates an oversold condition within a macro uptrend, providing a high-probability ‘buy the dip’ signal for anonymous accumulation.
SWOT Analysis