Tone Vays , head of research at BraveNewCoinCT r: 54 , talks on how to buy BTC preserving your anonymity , and what he thinks the real uses of the cryptocurrency are now, as well as what to expect soon. Online Exchange vs. BTMs vs. In-Person
CT: Why do some users choose to buy their Bitcoin in person, instead of via an online exchange or BTM?
TV: Because BitcoinCT r: 8 is the only asset in the world which cannot be confiscated by authorities, it’s important to make sure no one knows you have Bitcoins for this property to hold. By only buying your Bitcoins using cash in person from other people, you eliminate all digital traces of the acquiring of this asset, making it impossible for your BTC to be associated with your government identity. You can then store or use these Bitcoins with the confidence that they will not be accused of being used for tax evasion, hiding assets in a divorce, or even traced to be used in illicit transactions by the entity that sold them to you.
CT: How does buying Bitcoin from an online exchange, like Coinbase , differ from buying from a BTM, or buying in-person?
TV: CoinbaseCT r: 2 requires that you use your digital identity and your personal identity, i.e. they know who you are and you have a bank account.
BTMs require that you use your identity, though you could pretend to be someone else if you had their ID, i.e. they know who the buyer is, but only by their government ID/picture/palm print, but since you pay cash, this government ID does not have to be your digital id.
In-person Bitcoin purchasing with cash is the only anonymous way to buy Bitcoins. CT: What’s the danger of linking […]
