There definitely are a few advantages when you buy bitcoins anonymously. But, to be true, the majority of people don’t mind sharing their information on cryptocurrency exchanges or trading platforms.
This does not mean that no one tries to keep it anonymous when buying bitcoins. There is an equal set of the population or maybe even more who try to keep it a secret when it comes to bitcoins and other cryptocurrencies.
Why should you buy Bitcoin anonymously
To keep you KYC unregistered (E-mail address, photo, location, etc)
When you usually buy bitcoins in a few top exchanges, you are required to register yourself first and complete your KYC documentation to be able to buy cryptocurrencies.
Only when you register with your email address and provide your address proof and your photo ID to validate your location and a few other personal information, you’ll be allowed to buy bitcoins.
This is the biggest thing which concerns most of the people and they prefer to keep their ID proofs a secret.
To keep your Bitcoin holdings, purchases, and trades a secret
As bitcoin gained huge value in a short period of time, there is no doubt that people would want to day trade using bitcoins for profits.
Many people have known to make a fortune by just day trading bitcoins and other cryptocurrencies and they are living an amazing lifestyle.
When you use exchanges wherein registration and KYC are required and when you buy, sell or trade in these exchanges. You’ll notice that you can track your trades that you’ve done so far using the exchange.
Now obviously, this information is not shared with anyone. And what you do in your profile remains a secret. But there are people who fear about their profile getting hacked and that they might lose their holdings etc.
This is the second reason why most people choose to buy bitcoin anonymously just to keep their holdings etc a secret to avoid getting being hacked and losing their valuable bitcoins.
Though there are people who are open to the world about their trades and their bitcoin holdings, there also are people who don’t consider to showcase it to the outer world.
This is one of the reasons where day traders want to anonymously buy bitcoin so that their portfolio looks clean in front of hackers.
Must read: How to buy Bitcoins without verification
I’ve mentioned the 2 advantages when you buy bitcoins anonymously. number 1 is to keep your Id’s and your personal information unregistered. And number 2 is to keep your bitcoin holdings, purchases and trades a secret.
If you have any suggestions you want to add to the topic of advantages you get when you buy bitcoin anonymously. Then, feel free to comment below.