How To Sell Bitcoin Anonymously (BTC -> Fiat)

Source: http://buybitcoinanonymous.ly/sell-bitcoin-anonymously/

5 Best Ways To Sell Bitcoin Anonymously

1. Bitcoin ATMs
   bitcoin atm

Bitcoin ATMs are probably the easiest and quickest way to convert your Bitcoin to cash anonymously. If you have a Bitcoin ATM near you, you can simply show up at the ATM, send the ATM your Bitcoin and receive cash.

Since ATMs are based on physical checking of exchange (i.e. physical notes), they can be much less strict about ID than online exchanges need to be. However, there are several considerations depending on the situation when selling BTC to an ATM, which we will discuss here.

The first consideration is the amount, most Bitcoin ATMs have a transaction limit for sellers. This is doubly so for users looking to sell BTC without ID verification. You will only be able to sell small amounts for cash, maybe $100 or $200 maximum. This is great if you’re just looking for some pocket money, but if you’re looking to cash out large amount of BTC you’ll need to spread your selling out over a length of days or at different ATMs.

Another consideration with ATMs is they require your physical presence which is not completely anonymous, however you can minimize this by obscuring your appearance as much as possible.

And finally most ATMs will charge an extra fee for sellers, you will not get the same price as you do on the exchange, but typically it is worth the extra cost for your privacy.

Click here to find a Bitcoin ATM near you.

1. LocalBitcoins, Paxful and Other P2P exchanges
   local bitcoins logo

Peer-to-peer (p2p) exchanges and websites can offer a higher degree of anonymity since they put you in touch with other Bitcoin users who are not obligated to ask for identity verification depending on the situation. This is at the discretion of the seller. You have the option to carry out transactions either online or in person.

The degree of anonymity possible depends on the seller, but in general you will get more sellers willing to transact anonymously if you opt for a face to face transaction. While this involves obviously revealing your physical appearance to the seller and usually a phone number, if you get a throwaway sim card then the transaction is nearly anonymous. For the ultra-concerned I would recommend a ball cap and a large pair of sun glasses.

The downside is that you will usually pay around 10% of a premium for this anonymous service, often more. Localbitcoins is the most popular and usually offers the highest degree of anonymity, but Paxful also fits the bill (as do other p2p exchanges most of which are locally focused).

Another great way to find P2P exchange opportunities is to search for local facebook groups, meetup groups or businesses that accept crypto payments. Many Bitcoin users are happy to promote the usage and transacting of cryptocurrency, it is likely you’ll be able to find someone to sell to through getting involved in crypto enthusiast groups.

1. Purchase Products or Gift Cards directly
   bitcoin accepted here

This method bypasses the need for fiat currency altogether. In most cases, aside from certain types of investments and general savings, people will exchange Bitcoin for cash in order to spend the cash on goods and services. As more and more retailers and service providers begin to accept Bitcoin directly, you can skip the need for exchanging it.

This option is great for people looking to cashout for buying a specific item. You can simply perform a google search or find a BTC merchant directory to find a retailer that sells the goods you want for Bitcoin. If you cannot find a merchant, in many cases you can purchase an Amazon giftcard with BTC and then buy your item on Amazon. Paxful is a popular site for purchasing Amazon giftcards with BTC.

The option is anonymous in that you can cut out the need to route money through the banking system, only the merchant or giftcard seller knows your identity. You can even hide your identity from the merchant buy shipping to a PO box or amazon locker under a pseudonym.

1. Cash2pm.com

Cash2pm is not a totally anonymous service however for the speed and convenience it is hard to beat. It also anonymous enough for many privacy concerned people. For example, for users looking to avoid taxation in their home country, you can easily sell your BTC for Western Union to yourself in a foreign country. Sure, you’ll have to pay fees, but anything is cheaper than capital gains tax.

Another great aspect about this service is the convenience and high transaction limit. You can cashout thousands of dollars in one transaction and receive a Western Union wire for the amount within 24 hours. Hard to find that anywhere else.

For those skeptical, all I can say is that I was highly skeptical too. Unfortunately I needed the cash fast (lost wallet in Cambodia) so I took a chance. The service is legit.

From their website:

Cash2PM.comis an international digital currency exchange service developed by a team of specialists who have many years of experience working on the market of digital currency exchange. Our main service is to buy and sell e-currencies and cryptocurrencies for cash.

Using Cash2PM.com you can:

Sell Perfect Money, Bitcoin, Payeer, WEX codes, AdvCash, OKPay, Paxum to Western Union, MoneyGram and other urgent money transfer systems,
Buy Perfect Money, Bitcoin, Payeer, WEX codes, AdvCash, OKPay, Paxum via Western Union, MoneyGram, Ria and others.

1. Foreign Investments, Real Estate and Bank Accounts

For the globally minded selling your Bitcoin for currency or assets in a less regulated country is a great option to protect your financial privacy and avoid unfair taxation.

An example of this would be a person from the United States purchasing a condo or apartment in Thailand with Bitcoin. This is completely legal under local Thailand laws and there are many real estate services that will let you transact in Bitcoin. They take your Bitcoin, convert it to local currency, and pay the seller of the property.

The only requirement is you pay a fee and provide The Foreign Exchange Transaction Form for bringing large amounts of foreign currency into Thailand.

In this example, the buyer is not required to report his foreign property ownership to the United States government, and there is no record with any US bank since they paid in Bitcoin. The buyer now has a beachfront condominium in Thailand paid for directly with Bitcoin.

This is just one example. There are a ton of opportunities like this globally for individuals that are ok with traveling for the advantages of privacy. Happy hunting!

We’re constantly looking for new and creative ways to maintain our financial privacy while converting between Bitcoin and fiat currencies. Did we miss one? Let us know and we’ll update the article.