When it involves the fiats, how do keep anonymity with our holdings?

DaNNy001

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Quote from: Helena Yu on January 25, 2025, 06:34:42 AM

I would say privacy has different level, like:

Level 1: Would like to share to anyone
Level 2: Don't want CEX to know, but fine with banks and other entities.
Level 3: Don't want CEX, banks, entities etc to know, but to with strangers.
Level 4: Don't want anyone to know.

Most people are in level 1, but in your case it's either level 3 or level 4. Level 3 you can trade your Bitcoin <> fiat using F2F, where you meet strangers who willing to trade with you physically. Level 4 is really hard, you might need to buy someone else's identity.

Simple as ABC, I really don't know why you guys are sugar coating everything because what I can deduce from the whole thing is that it's not possible to stay unknown b it any level you want to break it out with especially when it's p2p transaction and also it's a matter of CEX, i mean the only is that you are actually using a false account details or credentials for your doings which limits them access to know you or require you submission for these documents.

Perfectbaby

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Quote from: EluguHcman on January 25, 2025, 02:22:19 AM

Fellow enthusiasts, I have long been thinking how can crypto users with concious measures completely stay anonymous with their holdings even when transacting with the P2P.

Whatever that involves p2p is no longer anonymous anymore because exchange is already a centralize place where you must pass kyc, and kyc involves revealing your identity while you trade. We can't clearly talks about anonymity if you are not involving yourself with centralized exchange. If you must maintain anonymity you must avoid anything kyc or centralized exchange. But guess what? Sorry to say in as much as you do converts your BTC to fiat there must be a medium where you would trade you coins to fiat and that involves revealing your identity.

Makus

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Op, from what I understand, p2p is done between two parties without an intermidiary interferening with the transaction. that is even when using a reputable exchange like binance, bybit etc they don't give out your transaction history to anyone but if you still feel unsafe using their service, you could also try making use of a reputable local p2p trader who might get Linked up by a friend and without them knowing and having physical meeting with you, they could make a clean business deal and make transaction into your non custodial wallet, and for more anonymity you could use a mixer to a mix your coins.

Stalker22

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Whether buying Bitcoin anonymously is possible kinda depends on how you define anonymous and where you live. You can probably find some folks willing to swap Bitcoin for cash in person if you look around. Thats likely the most anonymous way to get your hands on Bitcoin or pass some off, but it can also be pretty risky. If you're gonna meet up with someone to buy or sell Bitcoin for cash, Id say do it somewhere public just so its harder for the other person to pull anything sketchy.

Potato Chips

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Quote from: EluguHcman on January 25, 2025, 02:22:19 AM

...but if we considers using the non custodial platforms which does not requires the KYCs, sure it is possible to keep this anonymity but there, the P2P transactions with the non custodial platforms are only possible if the transactions are just within the exchange of cryptocurrencies with no fiats involved.

What do you mean? fiat to crypto and vice versa trades are possible in completely p2p platforms-- you can find plenty of them in kycnot.me then filter them with fiat option.

For years, I have done crypto to fiat and vice versa trades in said exchanges. Personally speaking, I'm fine with just blurring the connections to some of my addresses from an average joe's eyes so it's pretty easy using the go to services-- iykyk. I also try to shift my volume to multiple platforms and/or traders.

Asiska02

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The involvement of fiat in the whole concept has made it impossible to achieve that 100% anonymity. When it has to do with bitcoin to bitcoin transaction without involving a third party into it, it becomes very easy to achieve that 100% anonymity. Getting to convert your bitcoins into fiat through an exchange is already a bridge to privacy which is already telling you that those aspect has already been filtered and you can’t achieve anonymity through it. Only bitcoin can provide that and that is why until bitcoin is accepted globally for transactions should we expect to see some anonymity in the whole concept.

Ojima-ojo

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Run your node and establish your network tor and other privacy-enhanced browsers and apps then stay off centralized exchange, this will help enhance your privacy but note that it won't give you 100% privacy because there is never 100% privacy unless you want to outrightly go off the network at some point.

Satoshi is one such examples of those that successfully went fully anonymous.

Btcdeybodi

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Quote from: EluguHcman on January 25, 2025, 02:22:19 AM

Now my question is... How can we buy or sell our Bitcoin and still keep our reality profiles anonymous when it involves the fiats to execute the transaction?

You can't be totally anonymous while performing p2p operations and the reasons why centralized exchanges ask for KYC information is because if there arose any fraud case, they can be able to trace and track the person through the information they provided. P2P transactions are still anonymous since it's only the exchange that knows about your KYC information except for someone who reveals their contact information to the p2p vendors or merchants that risks harm by those p2p merchants. However, even when sending your banking details to the p2p merchants, your information such as your full name can still be revealed and since some person use banking apps that they use their phone numbers as their account information, their identity can still be known. The way out is just to be very careful with the people you do p2p operations with and if possible, people should stop using banking platforms that they use their phone numbers to create because it can pose a security threat on them.

Hewlet

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Quote from: EluguHcman on January 25, 2025, 02:22:19 AM

Now my question is... How can we buy or sell our Bitcoin and still keep our reality profiles anonymous when it involves the fiats to execute the transaction?

as long as the process of buying or even selling will involve the usage of your bank details, there is no way we can talk about 100% anonimousity and the kyc of most exchanges like the binance, bybit and bitget that are now the most used in carrying out buying and selling and all the forms of p2p transaction requires one to submit your banking details and personal information like the bank verification number and the NIN. with these two items, a lot of your data can be extracted which if the need arise can be used to trace you.

the issue with being anonimous is just of concern because of some regulatory issues some part of the countries are facing if not, the extent of exposure of of your personal details while carrying out a crypto transaction is actually insignificant to have posed a threat to the user.

michellee

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It is difficult to buy or sell your Bitcoin by keeping your profiles anonymous especially if it involves fiats. Maybe you can search for local people or friends help you send the fiats. You send the coins to the seller and the seller sends the fiat to your bank account.

You must realized when you send the funds in a large amount, the alarm from the bank will sound and will check the fund's sources. They will asks you where the funds are from and investigate it and make sure that you are not doing illegal things.

We can not deny that because crypto now become more popular and some bad people use crypto for their illegal business. The banks don't want to have a problem so they will check everything.

Asuspawer09

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Quote from: EluguHcman on January 25, 2025, 02:22:19 AM

Fellow enthusiasts, I have long been thinking how can crypto users with concious measures completely stay anonymous with their holdings even when transacting with the P2P.

We know the flexibility in using the exchanges for transactions especially the P2P when buying and selling but then, we don't feel safe with it due to KYCs involved but if we considers using the non custodial platforms which does not requires the KYCs, sure it is possible to keep this anonymity but there, the P2P transactions with the non custodial platforms are only possible if the transactions are just within the exchange of cryptocurrencies with no fiats involved.

My emphasis is how to stay a full anonymous with our holding especially when buying and selling of assets.

After being thoughtful on this, it really find it hard to keep this concept a 100%
Now my question is... How can we buy or sell our Bitcoin and still keep our reality profiles anonymous when it involves the fiats to execute the transaction?

I mean it would be impossible in my opinion to have fully anonymous since the blockchain is public with that we can already see that the transaction can easily be tracked, so it wasn't fully anonymous in the first place, so it's impossible to be fully anonymous, when it comes to buying Bitcoin, especially today it is almost required to do some kind of KYC at least probably on a custodial wallet or exchanger, if your going to buy in a exchange and put it on a non custodial wallet, there are still some connections that anyone can track in case so probably they just going to determine the owner of the address in a exchange, and then they can its transaction if there are connections they could easily say that both of the address is yours. I guess just do the basic things probably to protect your transactions don't share it to anyone, and post it something like that, other than that there's nothing really much than we can do about it.

Spaceman1000$

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The possibility for you not to be known or for you to remain anonymous is mostly unlikely once fiat is involved, because as far as I know, there is hardly DEX that has P2P network, so most of the P2P are mostly available with CEX which you must register with an ID. So if you have it in mind that you want to get a fiat out from your Holdings, just have it at the back of your mind that a parts of you will be revealed in one way or the other.

stadus

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If you’re using cash, anonymity might be possible, but it’s incredibly risky to deal with people carrying a load of cash.

So you'll be in the option that is popular which is online p2p, however, anything tied to the government like banks or official IDscan quickly lead back to you, which means your privacy is compromised. P2P transactions usually involve Bitcoin and fiat wallets, so using a fake exchange account might offer some level of privacy, but there will always be a trace somewhere, so it’s never truly anonymous.

Things have definitely changed a lot. To really enjoy the benefits of anonymity, crypto would need to be widely accepted so there’s no need to convert it into fiat to spend it. Until then, full anonymity seems like a tough goal to achieve.

Sanitough

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For P2P transactions, I primarily use Binance, but the moment you sign up and complete the KYC, you’ve already given up your privacy. Unless there’s a decentralized exchange that offers true P2P transactions, I don’t think we can achieve complete anonymity when dealing directly with others for P2P trades.

You might want to explore options in the forum. IIRC, there are users who sell Bitcoin for PayPal, so I think that could work especially if you’re using a PayPal account that’s not tied to your personal identity, like one you’ve purchased or set up specifically for this purpose. Just make sure to weigh the risks and choose your trades wisely.

sokani

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As far as I know, before you'd be able to access the P2P market in centralized exchanges, you must be KYC'ed. I think it's the industry standard because I'm yet to see any CEX offering P2P that doesn't require KYC. The only way you can trade your Bitcoin to fiat without needing to undergo KYC is through Bisq. The challenges you may face on Bisq are that the price is much lower, there are fewer traders and sometimes you may place an order and not get matched up.

Helena Yu

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I would say privacy has different level, like:

Level 1: Would like to share to anyone
Level 2: Don't want CEX to know, but fine with banks and other entities.
Level 3: Don't want CEX, banks, entities etc to know, but to with strangers.
Level 4: Don't want anyone to know.

Most people are in level 1, but in your case it's either level 3 or level 4. Level 3 you can trade your Bitcoin <> fiat using F2F, where you meet strangers who willing to trade with you physically. Level 4 is really hard, you might need to buy someone else's identity.

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Quote from: EluguHcman on January 25, 2025, 02:22:19 AM

How can we buy or sell our Bitcoin and still keep our reality profiles anonymous when it involves the fiats to execute the transaction?

It can't be done as long as you use your real account (bank account) either on a centralized platform like Binance or a decentralized one like Bisq. The only way is to use someone else's account (usually a friend's account) to execute the transaction, so your anonymity is maintained, although at least only your friend knows that you are a bitcoin hodler.

- Ammar M. A.

cryptoaddictchie

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Quote from: EluguHcman on January 25, 2025, 02:22:19 AM

Fellow enthusiasts, I have long been thinking how can crypto users with concious measures completely stay anonymous with their holdings even when transacting with the P2P.

Impossible, if you are using Binance p2p for example, you are needed to be verified with your real identity. So anyone you transact there with know somehow your real identity. Thats why when I using it I often used only the same p2p user that I engaged with to at least lessen the users Ive engaged. Of course the lesser the user its more good for your safety.

Being full anonymous is quite hard to do, and I doubt there is 100% anon here that really dont expose somehow himself to others.

Charles-Tim

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You can not be 100% anonymous. But take note that some parts of you can be 100% anonymous. You can use bitcoin to buy something online, including buying fiat on P2P exchanges. But that does not mean you have no coins that you do not link with the ones you are sending to trading platforms or be used to buy something online. Mixers can help you not let it linked together if possible you need coins from your anonymous part to the non-anonymous part of you.

EluguHcman

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Fellow enthusiasts, I have long been thinking how can crypto users with concious measures completely stay anonymous with their holdings even when transacting with the P2P.

We know the flexibility in using the exchanges for transactions especially the P2P when buying and selling but then, we don't feel safe with it due to KYCs involved but if we considers using the non custodial platforms which does not requires the KYCs, sure it is possible to keep this anonymity but there, the P2P transactions with the non custodial platforms are only possible if the transactions are just within the exchange of cryptocurrencies with no fiats involved.

My emphasis is how to stay a full anonymous with our holding especially when buying and selling of assets.

After being thoughtful on this, it really find it hard to keep this concept a 100%
Now my question is... How can we buy or sell our Bitcoin and still keep our reality profiles anonymous when it involves the fiats to execute the transaction?

Topic: When it involves the fiats, how do keep anonymity with our holdings? (Read 137 times)