Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
Bitcoin is unique in that there are a finite number of them: 21 million.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.
As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.
To ensure the security of bitcoins, they are often kept in digital wallets. These wallets can be either on your computer or stored offline on what’s known as a hardware wallet.
The first step to buying bitcoin is to create a wallet to store them in. There are several quality mobile, desktop, and hybrid wallets available.
If you want the highest levels of security for your bitcoins, then you’ll need to use a hardware wallet such as the Trezor or Ledger Nano S.
Once you have a wallet, you’ll need to find somewhere to buy bitcoins from. There are several exchanges that will allow you to buy bitcoins without having to go through an extensive KYC process.
However, if you want to avoid this altogether, there are also peer-to-peer marketplaces such as LocalBitcoins that will allow you to buy bitcoins without ID.
The easiest way to buy bitcoins is probably through an exchange like Coinbase or Gemini. These exchanges will allow you to link your bank account and make purchases with just a few clicks.
However, if you want more anonymity, then you’ll need to use an exchange like LocalBitcoins that offers cash transactions.
If you’re looking to buy large amounts of bitcoin without ID, then OTC markets are probably the way to go. These markets are designed for large trades between institutions and usually don’t require KYC documents.
However, they can be difficult to find if you don’t know where to look.
Bitcoin ATMs are another good option for buying bitcoins without ID because most of them don’t require any verification at all. All you need is cash and you can get your bitcoins in minutes.
However, not all ATMs allow you to buy bitcoins without ID so make sure you check before trying one out.
The best way to get bitcoin without ID is probably through an exchange like Coinbase or Gemini that will allow you link your bank account and make purchases with just a few clicks. However, if you want more anonymity then LocalBitcoins or OTC markets might be better options for you.