Crypto currency exchange with no trace
There are a lot of cryptocurrencies (around 2068 at the time of writing this article), as are many websites that allow the exchange of various cryptocurrencies. The purchase or sale of a cryptocurrency is currently traceable, despite preliminary assumptions. Popular and trustworthy virtual money exchange require verification (personal ID scan, confirmation of place of residence). For some time, the use of cryptocurrencies has become increasingly popular but also less and less anonymous. Unfortunately, virtual money has become an easy way to launder dirty money. This contributed to greater restrictions in exchange services.
This entry is not meant to show literally how to buy or sell cryptocurrency anonymously. I only want to show how to obliterate and make it difficult to trace from where the given currency was sent. Prevent transaction tracking by using cryptocurrency.
So if you want to buy/exchange/sell your virtual money, you have to make a little effort and not just trust the anonymity of the currency and the system itself. Buying and selling in an anonymous manner is probably material for the next article.
You can search for places in which you can buy an cryptocurrency for cash, anonymously and try to sell it yourself to avoid being targeted. It is possible but also time consuming. Also, that’s not the point, why to buy or sell a virtual currency you have to get up from the computer and go out onto the street.
You can also use different kinds of laundry services to “wash” the currency. These types of services operate in various ways. They carry out many transactions, through many new, generated wallets, trying to make it difficult or even impossible to pinpoint where from and where the funds were sent. Some simply take funds and pay the equivalent of another wallet, not related to the initial transaction. In addition, you can choose the delay with which funds can be sent further. For the most part, these types of services are anonymous and we never know who is behind them. They can disappear as soon as they arise. Convenient and effective, but also dangerous because you entrust your funds to unknown third parties.
The world is moving forward, new possibilities have emerged.
For a time, many companies were founded to allow the creation of anonymous virtual/plastic debit cards that could be credited with cryptocurrencies. You could use these types of cards without verification for certain amounts. Everything beautiful ends quickly. One year ago we could read news like this on many popular cryptocurrency websites:
Because of some new regulations Visa is shutting down WaveCrest - the provider of many ‘crypto cards’.
Since then, the creating of such a card is more difficult, we have fewer suppliers on the market and those who survived do not allow anonymous use anymore.
Life goes on. As of today, it is the safest and easiest way to erase the trace after your transactions by exchanging cryptocurrency for another cryptocurrency. The cost of this type of action is comparable to the use of laundry but safer. One of the largest service providers for instant cryptocurrency replacement is ShapeShift. Unfortunately, ShapeShift has implemented KYC and AML for several months.
Know your customer, alternatively known as know your client or simply KYC, is the process of a business verifying the identity of its clients and assessing potential risks of illegal intentions for the business relationship. The term is also used to refer to the bank regulations and anti-money laundering regulations which govern these activities.
Fortunately, for the present moment we have several efficient, popular and trustworthy money exchange in which we can immediately swap all kinds of cryptocurrencies with each other without any verification.
Please check these sites and read more about them before use. This is list of places where you can swap your crypto coins without any verification. Check also Crypto-Swap GitHub Repo for more details.
You buy Bitcoin in any way you want or you already have some amount you want to withdraw, but you want to do it in way, that nobody knows what cryptocurrency, and from whom you received it.
The easiest way is to change the currency. In the simplest terms, you exchange Bitcoins for a different currency using the above-mentioned pages. Then, by using another (not the same page), you exchange the new currency for another one or, for example, back to Bitcoin.
I do not judge people why they want to do this. I am showing it only to let you know that it can be done, and that the mere use of cryptocurrency does not ensure anonymity nowadays. In theory, each transaction can be traced. In practice, most of them.
Exemplary exchange to blur the trail
Exchange Bitcoins on the SimpleSwap site to Monero. Then transfer Monero between your randomly generated wallets. Next swap Monero to Bitcoins using FixedFloat.
In this simple way you have unrelated Bitcoins. Which you can safely withdraw. For example to Monolith card. If you want to withdraw cryptocurrency on the exchange or deposit to your card, remember not to do it directly from exchange because your funds may be blocked. Before making your final payout, have clean coins in your private wallet to increase the credibility of their origin and to explain their origin e.g. donation on the website, pocket money from uncle etc. ;)
Remember that different sites charge different exchange fees and don’t forget to include network fees for the currency.
Why Monero? Because it is one of the few cryptocurrencies that makes it difficult or even impossible to track transactions.
Here are few more cryptocurrencies you should take a look and use if you want to keep your transactions harder to trace.
- Dash (DASH)
- Monero (XMR)
- ZCash (ZEC)
- Komodo (KMD)
- Bytecoin (BCN)
- PIVX (PIVX)
- Zcoin (XZC)
- NavCoin (NAV)
- Horizen (ZEN)
- Verge (XVG)
That’s all. If you know any good sites where you can exchange crypto coins without any restrictions, other tools/apps or different kinds of anonymous cryptocurrencies, please let me know.
I am happy to keep this post up to date and find out about your ways to keep transactions not traceable. Last update is under the topic at the top of this page.