Paxful P2P Cryptocurrency Marketplace
- No ID for trades up to US$1,500
- 300+ payment methods
- Set your own offer terms
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Buying cryptocurrency without ID has become increasingly difficult, but not impossible.
If you don't have suitable proof of ID or if you simply value your privacy, there are still some ways you can buy cryptocurrency without completing a verification process.
Compare cryptocurrency exchanges by fees, fiat currencies and deposit methods to find the right fit for your needs. Click Go to site to get started.
Some exchanges have different thresholds for verification requirements. For example:
If you want to buy cryptocurrency without ID verification, there are only a few options to choose from:
These platforms, such as LocalBitcoins and Paxful, allow you to interact directly with other users who want to sell their crypto. Many sellers don’t require you to provide any ID before you buy, so you can arrange to meet up in person and pay cash to a local seller. Online trades are also available, but many of the payment methods used for these trades may be linked to your identity.
Another option is to load a prepaid card with cash and then use it to trade on a platform that doesn’t require proof of ID. These cards are similar to a Visa gift card you can buy at a supermarket or convenience store without verifying your identity.
On the vast majority of cryptocurrency exchanges, using fiat currency to buy cryptocurrency without ID is impossible. However, there are several platforms where you can exchange one cryptocurrency for another without needing to verify your ID.
Some of these sites offer “shifting” services that essentially let you trade altcoins with yourself. In fact, some crypto wallets allow you to complete the exchange of coins within your wallet, saving you the hassle of transferring your coins to a third-party exchange.
There are also some crypto exchanges that allow you to trade altcoins without verifying your ID. However, you may need to provide your email address or phone number to sign up for an account. For example, Binance users can deposit, trade and withdraw cryptocurrencies without supplying proof of ID, although this means accepting a much lower withdrawal limit than would otherwise be available should you go through the ID verification process. There are also some decentralised exchanges that don’t require any ID verification.
However, remember that if you want to trade with complete anonymity, you’ll first need to find a way to anonymously obtain crypto using fiat currency before you can start exchanging from one crypto to another.
There’s a widespread misconception that cryptocurrencies are simple to purchase anonymously, but this simply isn’t true for a couple of reasons:
Regulators in Australia and around the world are gradually introducing legislation that governs digital currency exchanges and the buying and selling of cryptocurrencies. These laws regularly include a requirement for exchange operators to identify their customers in line with Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulations.
For example, since April 2018, digital currency exchanges in Australia have been required to:
As a result of this sort of legislation in Australia and several other countries, many exchanges will now require you to provide proof of ID before you can start trading.
Because it’s possible for bitcoin users to send and receive BTC to one another without providing proof of ID, the currency is sometimes described as being anonymous. However, a more accurate way to refer to bitcoin is as a pseudonymous currency.
One commonly repeated comparison likens transacting with bitcoin to an author writing under a pseudonym – if their true identity is ever discovered, anything they wrote while using the pseudonym can be linked directly to them.
Your bitcoin address is like an author’s pseudonym, and every BTC transaction you make is stored for all eternity in a public ledger known as the blockchain. So if your bitcoin address is ever linked to your identity – something cybersecurity researchers say is quite straightforward to do – all your transactions could be traced back to you.
In the court of public opinion, there’s a widely held belief that the main reason anyone might want to buy cryptocurrency anonymously is so they can pay for all manner of illicit goods and services in the hidden corners of the dark web.
But while there’s definitely some truth in this idea – after all, anyone involved in illegal activities would have good reason to want to cover their tracks – there are also plenty of legitimate reasons why someone might want to buy bitcoin or some other crypto without any ID.
Finally, there’s also the simple fact that the ID verification process on some platforms can be frustratingly slow, particularly during times of increased demand. If you want to purchase crypto as fast as possible to take advantage of an anticipated price change before it occurs, buying without ID verification might be a quicker option.
If privacy is important to you, there are several steps you can take to protect your identity when sending and receiving cryptocurrency. These include:
Whatever your reason for wanting to buy crypto without ID, there are several options available. However, each of those methods comes with a varying level of risk and its own pros and cons, and you’ll usually need to pay an additional premium to get the privacy you want. Make sure you research all of your options before deciding on the safest approach.
Disclosure: As of October 2018 the author holds ADA, ICX, IOTA, POWR and XLM.
SPONSORED: Learn how to apply one of the most simple and effective investment strategies to Bitcoin and cryptocurrencies.
If you’re looking for ways to gain exposure to Bitcoin and other digital currencies, cryptocurrency ETFs could be worth exploring. Find out what crypto ETFs are and how they work in this introductory guide.
What you need to know about investing in OnlyFans from Australia.
Everything you need to know about the changes to economy fares.
Taproot seeks to make the Bitcoin network better equipped to handle smart contracts as well as increase its overall privacy.
Shitcoins now litter the cryptocurrency industry, do you know what you’re looking for?
An in-depth review of one of the most popular lending and interest earning platforms in cryptocurrency.
Nexo is a cryptocurrency lending and borrowing platform that offers high interest rates on cryptocurrencies, stablecoins and fiat. We review the features available and look at how safe your funds would be on the platform.
Learn how to stake Chainlink (LINK) tokens and earn rewards through exchanges, lending services and node operation on the Chainlink network.
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money here.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.