Forum

Sending money with bitcoin anonymously
 

Hey everyone, wanted to know what the best way to send bitcoin from USA to China would be as anonymous as possible. Is it possible to purchase bitcoin from say your bank account, then send it as anonymous to china? Were it just looks like your investing money into bitcoin

Re: Sending money with bitcoin anonymously
 

You need to ask your Chinese counterpart what is the best way,as there are rules he knows better than you

Re: Sending money with bitcoin anonymously
 

Bitcoin is just about banned in China. My understanding of Chinese BTC law is that they're allowed to hold cryptocurrencies but they aren't allowed to use them as money (in commercial transactions) or exchange them for fiat currency.

Buying bitcoin with your bank account is just about the least anonymous way to go about obtaining BTC, but for whatever your purposes are that method would probably suffice. Just keep in mind that if you're buying crypto directly from your bank account, it's not anonymous at all because it's tied to your identity.

I use both coinbase and gemini. Coinbase allows card + bank purchases, gemini only allows bank (ACH) purchases. If you buy with a card on Coinbase you can send the BTC instantly. If you buy with a bank account on Coinbase or Gemini, your BTC is held for 5 business days before you can send it anywhere.

Honestly it sounds like you're pretty un-savvy with all of this. Let me know what exactly it is you're trying to do and I can try to give you relevant advice.

If it were me, this is how I'd handle it.
1) make BTC purchases on both gemini and coinbase
2) wait for those purchases to clear
3) send all of the BTC I bought to an electrum wallet on my desktop
4) send the BTC to xmr.to's onion site, converting the bitcoin to monero and thus breaking the bitcoin chain tied back to my identity from purchasing with my bank accounts
5) convert the monero back into Bitcoin and send it back to my electrum wallet
6) get supplier's BTC wallet address and pay them

Steps 4 & 5 are extreme and are generally reserved for highly illegal activity where the parties involved are worried about going to prison because of what they're trading. Only you can determine if those steps are necessary for you. They are one of the only true ways of anonymizing bitcoin transactions since bitcoin itself is not anonymous at all.

Re: Sending money with bitcoin anonymously
 

Good lord,is that what you have been doing?
I mean the last 2 steps.

Re: Sending money with bitcoin anonymously
 

No. I said that's how I would handle it if for some reason I needed to anonymously send money overseas. I've never had any reason to anonymously send money overseas. I just use wire's, lol.

Bitcoin and the industries surrounding it have evolved a lot over the past few years. Criminal enterprises started using bitcoin for payments, thus blockchain analysis has become an industry and nerds are paid to trace bitcoin transactions back to their source/destination.

It was a hypothetical answer based on the opsec research I've done.

TL;DR - using bitcoin you bought straight from your bank account isn't safe if you're concerned about anonymity.

Re: Sending money with bitcoin anonymously
 

Easiest/fastest way would be for you to buy the BTC anonymously via cash in person or look into something like bisq network. There are ATMs all over the US that you can buy with cash and as long as you stay under their ID requirement limit, you should be pretty anonymous

If you buy BTC with bank or anything tied to your identity you'll need to do something like converting to XMR as suggested above

Re: Sending money with bitcoin anonymously
 

I am in awe of your knowledge

Re: Sending money with bitcoin anonymously
 

can you send them US cash instead ,you know well disguised in mail.
that will be a low tech way

Re: Sending money with bitcoin anonymously
 

Such knowledge only brings sadness and frustration. :shocked:

Re: Sending money with bitcoin anonymously
 

Firstly thank you so much for giving me your time to explain in such great detail... i appreciate you man. & yes I am completely new to all of this. The main goal is being able to send money to china through bitcoin, through purchasing the bitcoin with my bank account, where at the end of the year I wont have the IRS asking me why i'm sending so much money through bit coin to china... where it would just look like i'm investing into bitcoin for the sole purpose of an investment you know? It's just for clothing how ever I would just prefer to do it this way opposed to withdrawing funds and sending money gram every week, I can go into more detail with you on a private message maybe?

Re: Sending money with bitcoin anonymously
 

I cant sadly, I sell clothing on ebay and poshmark and it gets deposited into my bank account

Re: Sending money with bitcoin anonymously
 

Hey did you get my last message brotha ?

Re: Sending money with bitcoin anonymously
 

send the btc to a regular wallet, download incognito wallet, send btc to the incognito wallet as pbtc. have him download the incognito wallet and send the pbtc and then he can convert it back to btc within the wallet.

Re: Sending money with bitcoin anonymously
 

Sorry bro. I did get your PM but I have dozens of PM's and rarely respond to them.

Honestly there's no reason for you to mess with crypto for what you're wanting to do. You would just be cutting into your profit margin big-time by paying with crypto, because regardless of where you get BTC there will be fees involved. At a minimum you'd be shaving 3-5% off your profit margin before you even place your order.

There is nothing wrong with sending money to China. The IRS does not care about that since it's legal. In fact, unless you're planning to just never pay any income taxes, it would be beneficial for you to use traditional payment methods. Because it would be much easier for you to reconcile your expenses at tax time if you didn't use bitcoin.

You would be making yourself look more suspicious by using crypto for this, compared to just sending fiat currency by Wire/WU/MG/PP. If you were ever investigated for some reason (which is highly unlikely) it would look like you're buying Fentanyl instead of phony branded clothes.