Buy bitcoin with paypal anonymously
With bitcoin gaining popularity, value and legitimacy around the world, many believe it could change the game in Afrika. So how do you actually buy bitcoin? This question has lots of answers and the most suitable method for you can change. Every year interest in bitcoin is growing. What started as an experiment is now a viable currency and a great option for investors.
The bitcoin market is less established in Africa compared to countries such as the US or Europe. This means there are fewer options available and less information on how to keep your money safe. The history of bitcoin is littered with scandals and security breaches. Exchange platforms have been hacked and companies have stolen users funds. The bitcoin technology itself is secure, but the companies and third parties managing funds are subject to theft and fraud. This means you need to be very careful when choosing where to buy and store your bitcoins.
Your best bet is to choose companies with a good reputation, and solid security features. Once you have bought your bitcoins, be sure to transfer them to your own wallet. Bitcoin exchanges are the easiest place to buy and sell. You can use many of them just like you would use a regular bank. Many countries have a local bitcoin exchange that residents can use.
If not, then there are a few great international companies that make it easy to buy bitcoins from almost anywhere. The safest way to buy bitcoins is by using the larger international exchange platforms. Because the industry is so unregulated, it is possible for a company to just run away with your money.
Reputation is the most important factor when choosing a company to buy bitcoins from. Until recently, it was impossible to buy bitcoins with a credit card. People could buy bitcoins, then call the credit card company and ask for a chargeback.
As it is difficult for sellers to prove the bitcoins were sent, they would be forced to refund even after the bitcoins were sent. IO is one of the largest and most trusted international bitcoin exchanges. You can buy, sell, and invest in bitcoin from across the globe, including GBP, which are rarely traded elsewhere. Paypal is an extremely convenient way of making online payments. Unfortunately, you cannot buy bitcoin directly with Paypal. It is too risky for the seller because of the chargeback problem again and it is actually banned by Paypal.
Due to the high risks, bitcoin exchanges, working with the Paypal, have higher transaction fees. There is a workaround, however.
They have more info on their FAQ page. If you live in South Africa, Nigeria, or Kenya, you may be able to buy bitcoins directly through a bank transfer. This is a very popular method around the world, as it can be cheap and relatively safe. Luno used to be BitX. Luno can so far be used from South Africa, Nigeria and Kenya.
If you already own your bitcoins, especially important is that you mix your bitcoins with other bitcoin owners. A bitcoin mixer, also known as a bitcoin laundry or bitcoin tumbler , is a service that breaks the link between you and your bitcoins, mixing your funds with others, so the trail back to you is unclear.
We recommend using a quality online mixing service such as Cryptomixer or CoinMixer to periodically exchange your bitcoins for different ones which cannot be associated with the original owner. In order to further enhance the security of your transactions they provide the opportunity to use two or more forward addresses as well as convenient time delays.
They immediately delete all archival logs related to your transactions. You can also use Shared Coin for that purpose as it is free but a bit more complicated. Also, if you use anonymous Tor browser, you may want to try Bitcoinfog.
Please note that there are many scams out there that claim to offer bitcoin mixing services. The problem is that you will send them bitcoins and will never get anything back, so please stay with our recommended services to avoid the hassle and check your provider on forums!
As bitcoins are stored in a software program known as a bitcoin wallet and all of the above does not help , if your wallet is identifiable with your personal information. If you wish to remain somewhat anonymous when using bitcoins, such as paying for an adult website, then you should at least use a wallet registered to an anonymous and disposable email address. Also use a different wallet for each transaction to avoid multiple transactions being traced back to you, as this is like maintaining multiple separate identities.
A simple way to keep multiple wallets is to use MultiBit , a straightforward and lightweight software wallet that allows you to manage multiple wallets from one program. As for anonymous bitcoin desktop wallets , we are still searching for the best choice. Currently, the best advice is to use Tor browser to connect to an online wallet.
If you want even more anonymity, we suggest to make a paper bitcoin wallet. Maybe the easiest way is to use the code at bitaddress. The Open Bitcoin Privacy Project has released their first full report on the levels of privacy found in various bitcoin wallets.
The best and most anonymous bitcoin wallet is Darkwallet , another two good wallets in terms of anonymity are also Armory and Mycelium. Their bitcoin debit card is available right now for a very small fee. All it takes is a valid email address and basic personal information to sign up, and once you requested your debit card, it will be sent to your home address.
Unfortunately, this debit card is that is not available to residents of the United States. While using bitcoins is an excellent way to make your purchases, donations and p2p payments, transactions are never truly anonymous. Bitcoin activities are recorded and visible publicly via the blockchain. This is a comprehensive database that keeps records of bitcoin transactions. Almost all exchanges require you to verify your identity by sending scanned personal documents.
Also, they are required to report large transactions to the proper governmental authority. When you use bitcoin to pay for goods and services, you will also many time need to provide your name and address to the seller for delivery purposes.
This means that someone with interest in tracking your activities can use your ID information as a basis from which to track your future transactions or to study your previous activity. In short, you have compromised your security and privacy.
That is why, if you want to stay anonymous, you must do both — get and spend bitcoins anonymously as described above. This part depends on what you want to get for your coins. The main idea to stay anonymous is that at purchase process you do not reveal any personal information. There are many services mostly online that accept bitcoins as a payment method, and they do not require any personal information.