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Old 01-09-2017
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elmo elmo is offline
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Arrow Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously

Here is a quick guide for those that wish to either purchase, or withdraw their Bitcoin anonymously.

A lot of people use websites that allow you to enter your credit card or bank information, such as coinbase.com, to cash out or purchase bitcoins. This will give you the best buying and selling rates (you purchase and sell at market value), but there will be a direct connection to you and the Bitcoins.

If you wish to remain anonymous for whatever reason, the easiest and most convenient way to purchase and sell Bitcoin is through www.localbitcoins.com.

Quick LocalBitcoins.com Guide

If you go to the website and click either "Buy" or "Sell" at the top, scroll down and you can select your country at the bottom. This will give you a list of buyers or sellers in your area with prices/fees that vary depending on the method of funding. If you click "show more" under the list of buyers or sellers, you'll get a drop down menu with a pretty big list of options you have. Certain options will have lower/higher fees than others, generally ranging from 3%-30%. Be cautious with who you deal with and make sure to view their feedback/reputation before opening a trade.

Buying Bitcoin Anonymously
  • Meeting up with someone locally in your area and giving them cash (Fees range 3%-5%). This is the best way of purchasing Bitcoins anonymous with no limits to how much you can buy.
  • Cash deposit at bank (Fees range 3%-5%). Only a few banks will request for ID if you're making a deposit into someones account, but most deposits under $1000 do not require ID.
  • Cash in mail (Fees range 3%-5%). Much safer than you can imagine, but always assume the risk and get tracking.
  • Western Union & Moneygram (Fees range 5%-10%). This generally has a maximum of $2000 before they ask for ID.
**Note: Some Bitcoin sellers will require verification before you can contact them, but not all of them require this**

Selling Bitcoin Anonymously
  • Meeting up with someone locally in your area, is the easiest, cheapest, and most convenient way to unload your Bitcoins anonymously. The Bitcoin buyer will generally charge you a 3-5% fee on the amount you wish to exchange. As you establish a relationship with your buyer, they will generally drop the fees (so be kind to these guys!). There are many reputable and friendly sellers out there (you can choose who you trade with by viewing their reputation/feedback on LocalBitcoins.com). If you do choose to meet up with someone locally, assuming you chose someone very reputable, you'll realize they are pretty cool and knowledgeable people. But don't stick with 1, meet up with a few different buyers/sellers and choose the one that is the most professional and you'll have a contact you can keep for life. The professional traders make a living buying/selling Bitcoins at 3-5% premiums both ways.

If you have any questions feel free to reply to the thread. Happy trading

Last edited by elmo; 01-09-2017 at 02:27 PM.
The Following 2 Users Say Thank You to elmo For This Useful Post:
rsot (01-11-2017), Verb (01-09-2017)
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