Bitcoin is undoubtedly one of the best innovations in the recent past. However, Bitcoin has come under a lot of criticism for its scalability issues. In 2017, Bitcoin went through a hard fork and Bitcoin Cash (BCH) was born. Bitcoin Cash addresses the scalability issues in Bitcoin. Thanks to Bitcoin Cash, massive on-chain scaling is now possible. BCH has grown to become one of the top cryptocurrencies in the crypto world.
If you want to own Bitcoin Cash, there are few ways to do it. You can either buy from an exchange or mine it. Buying from an exchange is easy but chances are, you are required to go through KYC prior to buying. Buying Bitcoin Cash and other cryptocurrencies anonymously from a regular exchange is almost impossible these days. But, fortunately, there are still ways to buy Bitcoin Cash and other cryptocurrencies anonymously. Here are the best ways to buy Bitcoin Cash (BCH) anonymously:
The easiest way to buy Bitcoin Cash anonymously is by using Local.bitcoin.com. This is a peer-to-peer exchange for Bitcoin Cash. You buy directly from sellers of Bitcoin Cash. There is no KYC requirement when you use Local.bitcoin.com. Although there are 30+ payment methods supported by Local.bitcoin.com, since you want to buy Bitcoin Cash anonymously, your options are limited.
To buy Bitcoin Cash anonymously, you must choose “Cash in Person” or “Gift Card” as the payment method. “Cash in Person” is not completely anonymous since you will be meeting the seller face to face. “Gift Card” method, on the other hand, is much more anonymous since there is no meeting the seller. But, it is very important that you obtain the gift card you are selling, anonymously.
In terms of fees, they charge a fee of 0.25% from the seller and a fee of 0.75% from the buyer. Although fees are lower compared to other exchanges, be aware of the seller’s markup, as it can add significant costs. This is why it is sometimes best to use other methods of buying Bitcoin Cash (BCH) anonymously.
2) Buy Bitcoin Cash with Cryptocurrencies
Another way to buy Bitcoin Cash anonymously is to convert other cryptocurrencies to Bitcoin Cash. But, before you convert it to Bitcoin Cash, it is important that you obtain these cryptocurrencies anonymously as well. There are anonymous P2P exchanges available for few different cryptocurrencies:
LocalBitcoin – Bitcoin P2P Exchange
LocalCryptos – Ethereum P2P Exchange
LocalMonero – Monero P2P Exchange
All you have to do is buy cryptocurrencies anonymously from one of the P2P exchanges above and convert it to Bitcoin Cash. “Cash in Person” or “Gift Card” payment method is the most anonymous way to buy from a P2P exchange.
Now, all you have to do is convert bought cryptocurrencies to Bitcoin Cash (BCH). There are many exchanges available that allow cryptocurrency to cryptocurrency conversions, but it is important to select one that does not have KYC requirements.
Binance and KuCoin are some of the best exchanges to convert cryptocurrency without providing personal details. You only have to provide an email address when signing up. A basic account is allowed to trade up to 2 BTC daily.
Changelly is a similar service that does not have KYC requirements. After you convert cryptocurrencies to Bitcoin Cash, it is important that you withdraw it to an anonymous wallet. Rahakott is one of the best anonymous wallets available today. You can also use a paper wallet.
3) Buy Bitcoin Cash (BCH) anonymously from a Decentralized Exchange
Using a decentralized exchange is another way to buy Bitcoin Cash anonymously. WavesExchange is such an exchange. All trades happen in a peer-to-peer manner. No intermediary and no personal details required to start trading. You can convert cryptocurrencies to other cryptocurrencies. Bitcoin Cash (BCH) is one of the supported coins.
Fiat to cryptocurrency transactions is not supported by the majority of decentralized exchanges. So, you have to buy cryptocurrency using one of the above mentioned P2P exchanges first, and then convert to Bitcoin Cash using a decentralized exchange.
4) Use a Bitcoin Cash ATM
There are few Bitcoin Cash (BCH) ATMs available all around the world. You can check out here. It is important to note that some Bitcoin Cash ATMs ask for ID verification before buying from them. Since you want to buy Bitcoin Cash anonymously, you must avoid these types of ATMs. If you can’t find the perfect Bitcoin Cash ATM, you can always use a Bitcoin ATM and later convert it to Bitcoin Cash.
Using a Bitcoin Cash ATM is the easiest way to buy Bitcoin Cash anonymously with cash. Unfortunately, there aren’t many Bitcoin Cash ATMs available today. If you have a Bitcoin Cash ATM nearby, this is the easiest method on our list.
5) Use VirVox
Update: VirVox has shutdown. This method no longer works.
Create an account at VirVox and deposit funds to your account using the prepaid card. You can now use these funds to buy Bitcoin. As of now, Bitcoin is the only cryptocurrency VirVox supports. Before you buy Bitcoin with deposited funds, you must first convert it to SLL (Second Life Lindens). This is because there is no trading pair between USD and BTC.
6) Mine Bitcoin Cash
If the cloud mining service you use doesn’t support Bitcoin Cash, you can always mine a different coin and convert it to Bitcoin Cash.
Essentially, you are using someone else’s rig to mine Bitcoin Cash for you. Since you want to mine Bitcoin Cash anonymously, you must join a Bitcoin Cash pool that doesn’t require registration. Check out these pools here.
Above are some of the best methods to buy Bitcoin Cash (BCH) anonymously. In all methods mentioned above, your IP is still visible to the moderators of the service. If you are that paranoid, you can use an operating system like TAILS or a VPN to hide your IP.