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OBTAINING, SENDING AND

RECEIVING BITCOINS

ANONYMOUSLY

We have talked about a large amount of ways to maintain your security, but we have not

really talked about how to actually exchange currency. First thing I want to say as a

disclaimer, is that I am not advocating that you do anything illegal. This is for educational

purposes only and my recommendations are made assuming you are exchanging

currencies anonymously as a means to protect your own privacy.

So you have found something online that you want to buy, and they are asking for Bitcoins

as payment. How do you get the Bitcoins, and how do you get the Bitcoins to them? We

are going to explore these options to a degree and hopefully by then you can make an

educated decision on which method is best for your situation.

The options of buying Bitcoins are as follows.

1. Sign up at an exchange online. Some popular exchanges are BTC-E, BitStamp

and Coinbase

The downside of purchasing Bitcoins at these exchanges, are that you need to

verify your identity with them by means of submitting documents such as a driver’s

license or passport and a utility bill. If you are able to get past this first obstacle,

then you need to find a way to get money into the account. Exchanges generally

only accept wire transfers as a way to fund your account, but some of them offer a

way of transferring money directly from your bank account. You can obviously see

that by doing this you are exposing your true identity to the exchanges in one way

or another, if not at the very least your location.

2. LocalBitcoins.com

LocalBitcoins offers a way for you to find a person in your local area, or if you

want to go to another state or province to meet up with someone further away from

you, you can choose where to look for people in that area selling Bitcoins either

online (bank transfer or cash deposit) or meet them for cash in person. Traders have

reputation lists, similar to a feedback score on eBay and you can find a trader who

has a good reputation to buy off of. You send in a trade request and once the seller

has received the money, he can release the Bitcoins from LocalBitcoins and they

are sent to your wallet. Some people have expressed concern that law enforcement

may act as buyers and sellers on LocalBitcoins, but it does not matter if this is the

case in my opinion as long as you are not looking to buy large amounts. You can

also, if you want, communicate with the buyer over email, arrive from public

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