Buying Bitcoin is a smart investment decision these days, but the registration process can often be daunting. Today, most cryptocurrency exchanges/brokers require a know-your-customer (KYC) protocol which is mandatory before you can trade Bitcoin on their platform. This is discouraging for traders who want to buy Bitcoin without ID verification.
This guide explores how to buy Bitcoin UK with no ID and the platforms that offer such options.
How to Buy Bitcoin with No ID – Quick Steps
- Step 1: Sign Up with Bybit: Navigate to the Bybit platform and click on the ‘Signup Now’ button to open the registration page.
- Step 2: Deposit: The minimum deposit required by Bybit is 30 GBP. You can always top-up at intervals.
- Step 3: Buy Bitcoin: Buy the required amount of BItcoin in GBP that you want to purchase.
Your capital is at risk
How to Buy Bitcoin with No ID – Tutorial
If you reside in the UK and are looking to buy bitcoin UK with no ID, this short guide will help you locate where to buy Bitcoin without ID.
Step 1: Sign up on Bybit
To buy bitcoin UK with no ID on Bybit, head over to the Bybit homepage and click on ‘Signup Now’ to open the registration page. Here, you will only need to provide a valid email address and choose a unique password. Once this is done, Bybit will send over a verification code, and that is it. No government-issued ID is needed or address verification.
Step 2: Deposit
The next step is to fund your Bybit account, which can be done through a multitude of options. You can select direct crypto transfer, but this will require sending the relevant digital asset to your Bybit account.
You can also choose to deposit funds through your debit/credit card, apple pay, bank transfer, etc. Currently, you can only buy Bitcoin, Ethereum and USDT.
Bybit requires a minimum deposit of 30 GBP for UK users to buy BTC or ETH. The minimum could be higher, but it depends on the payment partner chosen.
Step 3: Buy Bitcoin
- From the homepage, simply click on ‘Buy Crypto’
- Toggle the currency options on the left-hand side of your screen and choose ‘GBP’
- You have to make a minimum deposit of 30 GBP to buy Bitcoin.
- To your right-hand side, you will see the list of available crypto from which you should choose BTC
Best Platforms to Buy Bitcoin with No ID
1. Bybit – Overall Best Platform to Buy BTC Without ID
Bybit is a cryptocurrency derivative exchange platform. The firm was founded by Ben Zhou in March 2018 and has since garnered up to 3 million registered users.
The trading platform, although not regulated, is headquartered in Singapore and mostly operates in the Asian region.
ByBit is regarded as the best platform to buy Bitcoin with no ID because of the leverage and margin trading route it offers. The platform allows up to 100:1 leverage for four cryptocurrencies on offer, including Bitcoin (BTC), Ethereum (ETH), USDT, EOS and Ripple (XRP). The platform offers access to 11 other cryptocurrencies, making the crypto selection list 15.
Trades on the Bybit platform involve two parties, the maker who places the order before the trade and the taker who places a trade that matches the maker’s order. On the exchange platform, makers are paid -0.025% in rebate when trading perpetual contracts, and takers are charged 0.075% per order. For spot trading, makers pay no fees while takers pay fees set at 0.10%. Withdrawals on ByBit vary for each cryptocurrency.
The firm accepts crypto transfers, electronic transfers, Visa/Mastercard debit/credit cards and cash deposits as payment methods. The cash deposit option will allow you to choose from over 59 fiat currencies but, you can only use the currencies to purchase BTC, ETH and USDT.
- Up to 100x leverage on crypto assets
- Educational resources
- Advanced trading tools
- Crypto derivatives are risky
- Not regulated
Your capital is at risk
2. Changelly – Top Platform to Buy Crypto Anonymously
Changelly is a cryptocurrency exchange platform founded by Konstantin Gladych in 2013. The firm specialises in offering users fast and secure transactions through non-custodial means.
Changelly is not regulated to operate in the US. The firm is regarded as one of the best Bitcoin exchanges to buy crypto with no ID because the platform has a user-friendly interface, allowing users to navigate and perform secure transactions at low costs. The exchange promotes the anonymity of users, so KYC information is not required.
On the platform, users can trade in about 200 cryptocurrencies. Changelly has a simple fee structure, charging only a 0.25% floating exchange rate and a 5% rate to buy and sell cryptocurrencies using fiat currencies.
The platform only allows credit/debit cards and Apple Pay as valid payment methods.
- Wide range of cryptocurrencies
- Anonymous trading
- Enables integration with other wallets
- Limited payment options
- No regulation
3. Evonax – Top Platform to Swap Crypto Seamlessly
Evonax is a crypto exchange platform founded in 2016 by Dennis R. Mortensen. The exchange specialises in exchanging cryptocurrencies without users signing up or providing any KYC information.
The firm is not regulated by any financial body but provides high security and anonymity for users.
Evonax is regarded as one of the best platforms to buy Bitcoin with no ID due to its anonymity and providing easy and secure transactions.
The platform offers users access to 18 cryptocurrencies to trade and exchange. Fees on Evonax are flexible. Users are charged based on the crypto pair exchanged and the exchange amount. Trading fees are above market averages of between 1-3%.
- Intuitive platform
- Instant transfers
- No sign up required or KYC information
- Live chat support is absent
- No wallet service
Why Buy Bitcoin with No ID
These are some of the benefits attached to buying the decentralised currency without an identification.
Quick Deposits and Withdrawals
Platforms that allow users to buy Bitcoin with no ID have very simple structures and do not need the input of validating information such as passwords to process transactions. This reduces the time spent trying to withdraw or deposit Bitcoins.
Since no personal information is required on such platforms, the chances of a hacker accessing investors’ financial information are slim. Platforms that are also non-custodial hold no access to users’ funds and provide high security.
Platforms that do not require users’ personal information have a very simple mode of operation. Onboarding is easy since the process of collecting KYC is eliminated.
Mobile apps are also an integral part of the trading process. This way, users enjoy seamless transactions without constantly logging into the web platform.
Low Deposit and High Withdrawal Limits
Platforms that do not need any means of identification to onboard new users allow for higher withdrawal rates and very low minimum deposits. This enable users who are big on anonymity in the crypto space to transact with as much crypto as they want without being flagged.
Is it Legal to Buy Bitcoin in the UK With No ID?
The UK’s policies on cryptocurrency rules have been cautious, but it has grown in the post-Brexit financial environment. Although the United Kingdom affirmed in 2020 that crypto assets are property, it has no cryptocurrency regulations and does not consider cryptocurrencies despite these benefits.
Currently, there are no specific laws in the UK that make Bitcoin’s purchase without an ID illegal. In fact, you can buy Bitcoin without an ID on certified exchanges in the UK such as Bybit.
Although it is not illegal to buy Bitcoin anonymously in the UK, it might be considered a legal grey area. Bitcoin and cryptocurrency transactions are mostly untraceable and relatively anonymous. The extra layer of anonymity created by buying Bitcoin without an ID is suspicious and might raise certain brows.
How to Withdraw Bitcoin with no ID
Some investors prefer to carry out Bitcoin transactions under anonymity. Below are some ways to withdraw Bitcoins without completing a Know Your Customer (KYC) process.
1. Withdraw Bitcoin on Exchanges
Using exchanges like Bybit makes withdrawing BTC with no ID easier and safer. To withdraw on Bybit, you do not need KYC verification. All you need to do is click on the ‘Withdraw’ button and select your preferred payout medium.
2. Withdraw Bitcoin using Bitcoin Automated Teller Machines (ATMs)
Bitcoin ATMs are similar to traditional ATMs. While traditional ATMs dispense fiat currency such as the British Pounds (GBP) or Euros (EUR), Bitcoin ATMs send Bitcoins to your wallet address when you input cash.
Most Bitcoin ATMs do not demand any kind of identification verification. Before withdrawing or buying Bitcoin from a Bitcoin ATM, keep in mind that while Bitcoin ATMs are secure, they come at a cost. Bitcoin ATMs charge a 5-10% markup on Bitcoins. This is the price individuals have to pay for the anonymity provided by Bitcoin ATMs.
3. Withdraw Bitcoins Using Peer-to-Peer (P2P) Transactions
This is another effective method of withdrawing Bitcoin without identification. All you need to do is use a P2P network and set the amount you want to sell your Bitcoin. A buyer will reach out to you and transfer the required funds. Once this is done, you can now transfer the requisite crypto asset to the buyer. You can also use P2P exchanges, just ensure that they come with a Bitcoin wallet to receive and store funds.
How to Buy Bitcoin Anonymously Without ID
Below are some ways you can buy Bitcoin without providing your name, address, phone number or other forms of identification.
Buying Bitcoin without ID on Platforms that Accept Cash.
Buying Bitcoin from a platform that accepts cash payments allows you to acquire Bitcoin anonymously. There are no paper trails using payment merchants or credit/debit cards.
Buy Bitcoin without ID from a Bitcoin ATM
Bitcoin ATMs also enable you to deposit cash and get BTC in return. They take it a step further by delivering purchased Bitcoins to the Bitcoin wallet you specify.
Buy Bitcoin Anonymously with Direct Payments
You can buy Bitcoin online or in-person without an ID. This service allows you to pay directly for Bitcoin without verifying your identity or entering personal information. The process enables users to trade Bitcoin anonymously, and users have the option of paying with cash or trading with proxy information.
Buying Bitcoin with No ID Vs Using Regulated Exchanges
There are numerous benefits for those who buy Bitcoin UK anonymously without an ID. It is often faster, cuts down the paper trail, and safeguards your data from hackers and other malicious actors.
Buying Bitcoin without IDs also allows users who can not present IDs to acquire a piece of the world’s most popular cryptocurrency. These benefits have prompted some investors to seek ways to buy Bitcoin without disclosing their data.
Despite all these benefits, there are quirks to buying Bitcoin without ID verification. The first drawback is that such platforms are not regulated, which leaves room for misappropriation of user funds.
Since a regulatory body does not supervise these platforms, users’ funds can be misappropriated without any means of tracing the culprits.
Also, there is the likelihood that the platform can be hacked and the obvious absence of investor protection in the event of a collapse. All these issues make regulated exchanges a favourite among several crypto investors.
Buying Bitcoin via regulated exchanges offers some measure of safety because your data is secured by strict privacy rules and regulations when you transact on exchanges.
Buying Bitcoin from a regulated exchange also comes with more crypto options.
Cryptocurrency trading platforms that are regulated find it easy to offer more crypto options as they have the backing of regulators. They can also partner with more payment options and gateways, unlike unregulated brokers that don’t require ID verification.
Where to Buy Bitcoin with a Regulated Exchange
This section explores the best regulated exchange to buy Bitcoin today.
1. eToro – Top Regulated Platform To Buy BTC
eToro is a crypto brokerage platform that was founded in 2007. The trading platform ensures that trading is accessible to anyone at affordable rates.
eToro is one of the most regulated platforms available on the market and ensures the security of investor information and funds.
The platform is licensed by top regulatory bodies, including Cyprus Securities and Exchanges Commission (CySEC), Australian Securities and Investment Commission (ASIC), the Financial Conduct Authority (FCA) and the Securities and Exchange Commission (SEC) in the US.
eToro is the most reliable and one of the best FCA-regulated brokers in the UK. The platform ensures the security of investors by storing their assets in top tier banks and guarding their information with the use of Secure Socket Layer (SSL) encryption.
New traders on the platform can also make good gains from their traders using the CopyTrade feature.
Payments on the platform are affordable, with a minimum deposit of $50 (£37.72). Withdrawal attracts a fee of $5 (£3.7). EToro supports 27 cryptocurrencies for trades, transfers and conversions. The spread on each trade ranges between 0.75% to 5% depending on the crypto asset.
The platform supports buying Bitcoin with PayPal, debit/credit cards, Skrill, Neteller and bank wire transfers as valid payment methods.
- User information are completely secure
- Very regulated
- Large crypto trading options
- Low transaction fees
- Withdrawal fee of $5 (£3.7)
eToro – Buy Bitcoin UK With No ID
Buying Bitcoin anonymously is not an easy task to complete. However, if you are keen on privacy and want to keep your financial transactions strictly confidential, Bybit can meet that need.
But this desire is not for everyone, and you should not try this option if you are big on regulation and investor protection. In this respect, you can turn to trusted crypto brokers like eToro to buy Bitcoin.
The social trading leader boasts of a healthy stock of crypto assets and you get to trade these virtual assets for low fees. This is further compounded with access to unique trading tools like CopyTrade, which allows you to mirror the trading strategies of other crypto traders.
68% of retail investor accounts lose money when trading CFDs with this provider.
FAQs on How to Buy Bitcoin UK With No ID
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