Decentralised Exchanges, Which to use and how to be truly anon vs banks

dkbit98

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Quote from: LetGoTrudeau on February 21, 2022, 09:50:44 PM

I would like to know the best/most secure and easiest way for a person to buy and sell bitcoin and to turn that into fiat if needed without alerting banks and government bodies since this excessive use of power shows how vulnerable bitcoin and crypto as a whole has become. it undermines the entire concept of free movement of money and ownership.

Best and real decentralized exchange would be Bisq, it works everywhere in the world, you hold the coins and you can exchange it with fiat currencies without passing any kyc verification.
Nobody can freeze your coins or block your accounts because there are no accounts, just open source software and people who use it for trading p2p.
Second option would be using some p2p trading centralized websites like LocalCryptos or something similar, but it's possible governments can ban their website or forbid access to it.
Last option is risky and it involves using some centralized that donb't have strict kyc rules like kucoin or okex, but never use any exchange for holding your coins.

hatshepsut93

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These decentralized exchanges still use banks and other payment systems for the fiat side. And these systems closely monitor any transactions that they may deem suspicious, and there can be lots of factors for deciding if a transaction is suspicious or not. Sending large transactions or having large transaction volume in short time is very likely to raise suspicions, but even smaller amounts can trigger this. So, if the government can identify certain individuals and order financial services to monitor and block their transactions, then even using decentralized exchanges will not be enough. Only direct transfers of Bitcoin or bitcoin for cash transactions will be truly secure (barring the risks of physical transactions, of course).

PrivacyG

hero member

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Crypto Swap Exchange

Quote from: tranthidung on February 22, 2022, 03:01:41 AM

Anyway, if you don't get your money from illegal activities, you might not like the complicated procedure.

I hate these kind of statements. I complicate things every single time and never do I have illegal income. I have to repeat every single time, looking for privacy is NOT equal to being a criminal.

Considering you are from Canada, I advice you to avoid using any kind of Centralized Exchange. Since the government has turned against you, using Tor as often as possible for browsing the Internet and particularly using Decentralized Exchanges may help you in the long run. If my government suddenly turned against me, I would think of the worst and be very preventive. Since they are working with Centralized Exchanges to freeze funds of protestors, you can safely assume that at any given time the government may make you responsible for trying to avoid this by using other exchanges conspiring against Canada's orders.

I am not trying to induce fear. The situation over there is really bad and this is what I would do. Stay away from what is centralized at the moment as long as you can. You will learn to be more independent and will avoid having your funds frozen all of a sudden as well.

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Regards,
PrivacyG

witcher_sense

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🔐BitcoinMessage.Tools🔑

Quote from: S3300 on February 22, 2022, 01:27:47 AM

For every first crypto buy you need Fiat now ask yourself where the anonymity is? Using fiat is giving away your everything that has to do with anonymous, this is what ruined privacy coins too, you need Fiat money to buy.

Cash transactions are relatively anonymous, especially if during your P2P transaction you will cover your face with something like a medical mask (thanks to covid) or sunglasses. Your counterparty will know nothing about your identity or your financial transactions, whereas you will only know which bitcoin address belongs to that person whom you're transacting with. I wouldn't say this is the safest way to buy bitcoins, but it is definitely more anonymous, especially when compared to decentralized exchanges like hodlhodl where you need to provide your email address and some banking details like card number in order to purchase bitcoin. There are numerous other ways to acquire bitcoin that don't involve interactions with the banking system. For example, you can offer services in exchange for cryptocurrency, or you can sell goods which you previously purchased with fiat. You usually don't need to provide personal information when selling or offering something, so there is always an opportunity to do that anonymously. Make sure you are not selling or offering something that is illegal in your country because this will attract unnecessary attention to your person.

Quote from: tranthidung on February 22, 2022, 03:01:41 AM

Anonymously, you can achieve it with Bitcoin Coin Join transactions, good mixer like Chip Mixer, and use Monero. You can mix between Bitcoin Coin Join transactions, Monero transactions and move them around. Anyway, if you don't get your money from illegal activities, you might not like the complicated procedure.

Obfuscating your transactions won't make your initial purchase more anonymous.

tranthidung

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Farewell o_e_l_e_o

Let's check that website https://kycnot.me/ and you see non KYC exchanges: Hodlhodl, Localcryptos, Bisq exchanges are aforementioned.

TradeOrge, Kucoin are KYC free too but because they are not decentralized exchanges, you should be careful because they can turn to be KYC-exchanges in future. Now you can enjoy it but trading volume on TradeOgre is not good. Kucoin is a choice to go if you want CEX and no KYC.

Anonymously, you can achieve it with Bitcoin Coin Join transactions, good mixer like Chip Mixer, and use Monero. You can mix between Bitcoin Coin Join transactions, Monero transactions and move them around. Anyway, if you don't get your money from illegal activities, you might not like the complicated procedure.

Oshosondy

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Gamble responsibly

Quote from: LetGoTrudeau on February 21, 2022, 09:50:44 PM

My reasons for looking to use decentralized exchanges is for Canadian truckers, the government has stepped in and have started using Centralized exchanges against people who want to help, including freezing not just their crypto but their actual bank accounts linked to it. I think this (regardless how you feel about the protest) is a truly terrifying thing and an attack on everyone.

You are on the right way, many people have forgotten that centralized crypto exchanges are regulated just like banks and government of any country can tell the exchanges to freeze any account they want, an example is what is going on in your country, the best you can use are decentralized exchange. But always try all means to avoid scammers.

https://localcryptos.com/ and https://hodlhodl.com/ are good, you can also try https://bisq.network/ which is currently the most that can offer you more privacy among decentralized exchanges but some people may not be using it because only its alerting support mobile app, if you will have to use the site, you will need to use a computer.

Quote from: S3300 on February 22, 2022, 01:27:47 AM

For every first crypto buy you need Fiat now ask yourself where the anonymity is? Using fiat is giving away your everything that has to do with anonymous, this is what ruined privacy coins too, you need Fiat money to buy.

If you do not have any other means than to use fiat to buy crypto, then what are you going to do? This is the best option you can go for. You use fiat but in a P2P way that is not linked to buying crypto.

mk4

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Paldo.io 🤖

Quote from: S3300 on February 22, 2022, 01:27:47 AM

For every first crypto buy you need Fiat now ask yourself where the anonymity is? Using fiat is giving away your everything that has to do with anonymous, this is what ruined privacy coins too, you need Fiat money to buy.

The goal was to not have pure 100% anonymity because that's very unrealistic in the first place. The goal is to have enough anonymity to make it extremely hard for the authorities to track you down.

S3300

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For every first crypto buy you need Fiat now ask yourself where the anonymity is? Using fiat is giving away your everything that has to do with anonymous, this is what ruined privacy coins too, you need Fiat money to buy.

pooya87

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Quote from: LetGoTrudeau on February 21, 2022, 09:50:44 PM

this excessive use of power shows how vulnerable bitcoin and crypto as a whole has become. it undermines the entire concept of free movement of money and ownership.

If anything this whole emphasizes and empowers bitcoin while showing how vulnerable the centralization and banking system is in a dictatorship. If you read your own question again you'll realize that the problem is not even with bitcoin, the problem is when people start converting bitcoin to fiat through a centralized service that is controlled by the government.

Quote from: LetGoTrudeau on February 21, 2022, 09:50:44 PM

1.) What is the best anon ways of trading bitcoins and selling.

The best way is to stop using centralized money and use decentralized money (ie. bitcoin). Meaning next time you go to the grocery store, pay with bitcoin directly instead of first converting bitcoin to fiat and then using your bank to buy groceries.
Obviously this is not going to happen overnight but the process won't start as long as you are asking the wrong question of "how to sell bitcoin".

Bitbtc8

full member

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You can't be 100% anonymous when transacting with crypto, you need Fiat to buy crypto that's where everything goes south, unless you mine coins yourself and sell them through Dex platforms, using money to buy crypto breaks it's anonymity part.

jackg

copper member

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https://bit.ly/387FXHi lightning theory

For the ease of use part, if you haven't already, I'd get comfortable with using bitcoin addresses (or any cryptos) to send and receive coins. This'll also help you to see whether the device you're using is trustworthy if you can check the first few, last and some inbetween letters of your address to make sure it don't get replaced by clipboard malware for example.

I think there's ways to not be censored at all this way (unless by the seller) dexes in the UK used to have people willing to do cash deposits straight into bank accounts which would be quite hard to trace.

mk4

legendary

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Paldo.io 🤖

LocalCryptos[1] and HodlHodl[2] might be your best bet.

I wouldn't say that you're guaranteed to not end up being censored, but you're far far less likely to be if you're doing peer-to-peer transactions. Just make sure you're transacting with the decently reputable merchants so you don't run into problems.

[1] https://localcryptos.com/
[2] https://hodlhodl.com/

LetGoTrudeau

newbie

Activity: 1

Merit: 5

Hi,

My reasons for looking to use decentralized exchanges is for Canadian truckers, the government has stepped in and have started using Centralized exchanges against people who want to help, including freezing not just their crypto but their actual bank accounts linked to it. I think this (regardless how you feel about the protest) is a truly terrifying thing and an attack on everyone.

I would like to know the best/most secure and easiest way for a person to buy and sell bitcoin and to turn that into fiat if needed without alerting banks and government bodies since this excessive use of power shows how vulnerable bitcoin and crypto as a whole has become. it undermines the entire concept of free movement of money and ownership.

TLDR

1.) What is the best anon ways of trading bitcoins and selling.

2.) The best decentralized exchanges.

3.) Ease of use for 40-50 yo rednecks would be appreciated.

Topic: Decentralised Exchanges, Which to use and how to be truly anon vs banks (Read 97 times)