Cryptocurrency / How to Buy Bitcoin Without ID Verification on WhiteBIT?

How to Buy Bitcoin Without ID Verification on WhiteBIT?

Updated on August 8, 2022 | by Olivia Reeve

Buy Bitcoin Without ID Verification on WhiteBIT

Sometimes, it may be necessary to buy digital assets anonymously for privacy reasons. Usually, traditional payment systems require identity verification before or during financial operations. However, when it comes to cryptocurrency trading, there are ways to carry out transactions without passing this procedure. 

In this article, we will tell you how to buy crypto without ID verification on WhiteBIT. Let’s dive in!

How to Buy Bitcoin without ID on WhiteBIT?

Purchasing assets is not that tough if you understand the process. Here is a detailed guide on how to buy crypto on the WhiteBIT crypto exchange platform to earn profit.

Sign-up

To start working on the exchange, you must first create an account. Here is how to do it:

  • Click ‘Sign Up’ in the top right corner of the main menu;
  • enter your e-mail and a password in the corresponding space;
  • tick the boxes to accept the User Agreement and Privacy Policy;
  • push the ‘Continue’ button;
  • complete CAPTCHA;
  • confirm your e-mail by the verification code input. 

Deposit Funds

Then, you should make a deposit to your balance. You need to: 

  • open Total or Main balance;
  • chose the ticker of the desired cryptocurrency and click ‘Deposit’ near to it;
  • copy the address in the field on the right, or type a new one;
  • open the wallet you want to deposit funds from and paste the copied address.

Place an Order

Now that you’ve made a deposit, it’s time to move forward. Here’s how to do it step-by-step:

  • open the Basic trade page;
  • choose the trading pair;
  • select the type of order;
  • specify the price and the asset’s amount;
  • Click the “Buy” button. That’s it!

Advantages and Disadvantages of Buying Bitcoin anonymously

As with most things in life, we must admit that buying cryptocurrency with no ID has some benefits and drawbacks. We have created a list of the most prominent ones.

Benefits:

  • it is possible to keep your data private;
  • you don’t have to waste your time on the verification process.

Drawbacks:

  • it may be challenging to buy cryptos;
  • you are allowed to withdraw a limited amount of bitcoins;
  • your aim to stay anonymous can arouse suspicion.

Alternative Ways to Protect Your Privacy

If anonymity is critical to you, there are three methods you can use to guard your data: 

Applying a New Address for Every Operation

It helps to prevent each operation from being related to you as the holder.

Hiding Your IP Address

An IP address is your device’s unique address that shows the place you connect to the global network. To avert it from association with your crypto wallet, think about concealing your IP address, for instance with a help of a VPN.

Using Several Wallets

One more way to keep your data private is to open and use different crypto wallets.

Whatever your motivation for purchasing assets with no ID is, there are some variants. Before purchasing the asset, think if it is really important for you to avoid verification. It may seem tough and slow, but keep in mind that you need to do it only once.

Next, don’t forget reading: How Can You Make Use of Your Cryptocurrencies?

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