Best Bitcoin Brokers To Trade Bitcoin Anonymously – No ID!
Current Broker Deals For You (no ID required):
The tables below show the brokers which allow Bitcoin trading without ID verification – trade cryptos on trading sites which don't ask for your real name proven by photo ID. It's even possible to trade Bitcoin completely anonymously on sites which even don't care about data like name or anything personal.
92
(US citizens are not allowed to trade on PrimeBit)
- Password
No fiat money
PrimeBit is a new cryptocurrency margin broker where you can trade perpetual contracts (CFDs) with up to 200x leverage. The platform seems to target experienced traders as they have the MetaTrader 5 trading program integrated and offer the highest leverage available in the industry.
PrimeBit empraces anonymity as there is no option to get verified at all.
93
- Email or mobile number
- Password
No fiat money
10BTC maximum per withdrawal
93
- Password
No fiat money
Unlimited
88
- Password
- Nickname
No fiat money
BaseFEX is a new Bitcoin margin broker offering a maximum leverage of up to 100x. Traders can trade Bitcoin and a few major altcoins as CFDs anonymously, since the account not even asks for a full name or any other personal data.
91
- Password gets sent
Basic accounts don't require any personal data at all
No fiat money
You can trade bitcoin anonymously at Simple FX. Just deposit your bitcoins and start trading without any further verification. Deposits in fiat currencies do require however verification with photo ID and proof of residence.
91
- Username
- Password
US Residents offically not welcome (due to potential legal problems with the US). But inital accounts don't ask for residency. VPN can hide US IP.
No USD
Bitfinex can be used for trading cryptocurrency anonymously, however in this case the account must be funded by altcoins or bitcoin. Fiat deposits require a photo ID and a verification process.
US traders aren't officially allowed anymore to trade on Bitfinex at all, since Nov 2017. However it is technically possible to signup for an initial account by using a VPN as inital accounts don't require ID verifications, neither any personal data. Just note that this would be kind of an unauthorized trick.
88
- Password
No fiat money
Unlimited
83
- Password
- Name
- Phone number
No fiat money
Up on registration at Poloniex, you need to provide your name, your country and an email address, however as Level 1 user, you do not need to provide any further proof for these information, so they could even be fake. However in this case the anonymous trading activity is limited to 2000 USD per day.
Trade Bitcoin Anonymously On Specific Platforms – No ID Verification
Specific Bitcoin Trading platforms allow you to use their services without ID verification. This means that upon registration you do not have to provide personal details such as name, address, date of birth. At anonymous bitcoin trading sites you can start trading instantly after sign up.
Advantages of Anonymous Trading
The benefits of anonymous bitcoin trading is that if you do not provide your credentials to the platform, no authorities (or even hackers searching for wealthy targets for their ransomware campaign) will be able to see your investments, profits and losses in bitcoins, because the account is not connected to your real name. You can hide your identity even from the owner of the platform. Especially when trading through a vpn tunnel, you are completely anonymous even from a very technical point of view.
A verification process would also include providing a proof of your identity in a form of a photo ID and a proof of residence - so obviously validating this information may take long. On the other side, you can start trading right away after sign up for anonymous trading within basic accounts, as you do not have to wait until the verification process goes through approval.
Downsides of Bitcoin Trading Without ID Verification
Withdrawal Limitations
The biggest drawback of trading anonymously on certain platforms is certain thresholds which apply to unverified users both in terms of trading volume and daily or lifetime withdrawals. This can cause potential problems to those who would like to engage into trading activity anonymously with a high amount of funds.
However, this only applies to certain brokers, as shown in the list above. There are enough other Bitcoin trading sites that do not require ID verification by default. So there are no restrictions for certain accounts as there is only one kind of account.
Lack of Deposit Ensurances
A disadvantage that some traders will perceive as such is the lack of security. While deposits with legally regulated brokers are insured up to a relatively high value in case the company goes bankrupt, modern Bitcoin brokers do not provide such security. Especially not the ones on which you can trade anonymously.
On the other hand, state-regulated licensed brokerage platforms that operate on the basis of fiat money deposits usually hold these deposits with external banks. This is because trading companies usually do not have a banking license and therefore have to deposit client funds with banks. If the trading company itself goes bankrupt, the customer funds are still safely deposited with the banks.
Many crypto traders have already experienced that their coins were lost when a cryptocurrency exchange was hacked. For such cases there is mostly no insurance in the area of Crypto Brokers.
In the case of losses due to platform hackings, however, trustworthy brokers try to make up for the damage. Bitfinex has provided a great example of this in the past. Many traders lost their coins in a hack. The platform then decided to pay back the lost coins piece by piece by giving the affected traders a share in future profits. Binance also suffered from a quite big hack when a lot of BTC got stolen, but the company bore the damage themselves, so none of their users were affected.
However, because of this lack of deposit insurances traders are adviced never to leave their coins on a cryptocurrency exchange or broker site, when they aren't actively trading. Trading platforms should never be used as a wallet to store one's cryptocurrency long term.
