Let’s be clear; Bitcoin transactions are not completely anonymous as in the case of Moreno. But if you are wondering how to convert Bitcoins to cash anonymously, experts suggest a couple of ways to do this without exposing your identity.
The aim is to avoid the registration of your details in insecure third-party platforms that could expose you. Sometimes, hackers could take advantage of this to access your account and steal your Bitcoins.
Here is how to convert Bitcoins to cash anonymously.
If you have made crypto exchanges for some time, probably you have heard about Bitcoin mixing. It is considered the best way to stay anonymous as it breaks the links between the address of the sender and the recipient. Hence, no one can easily follow the trail on the blockchain.
This process, which is also called Bitcoin laundering, might require some experience or help from a third-party professional to be a success. So, if you are not sure about how to convert Bitcoins to cash anonymously, try Bitcoin mixing, and you will not regret it.
Use Reputable Exchange Platforms
Well, how to convert Bitcoins to cash anonymously is still a big challenge for many investors. But you can do it using reputable third-party platforms. By going here, you will see one that you can trust and start converting your Bitcoins into cash.
Most reputable third-party platforms make sure that they secure the exchange platform or even do Bitcoin mixing for you. They also provide guidelines on how to protect your information during transactions by enhancing the security of your device.
Trade at LocalBitcoins
There is another trusted option for how to convert Bitcoins to cash anonymously; it is called LocalBitcoins and is a Finland-based crypto exchange service that allows Bitcoin owners to exchange them for cash over the counter. Today, their services have expanded a lot, and they are available in many cities around the world.
Furthermore, they have a resolution center for any conflicts that you might face during the exchange process. From the reviews by previous users, this is a reputable platform that you can trust.
Exchange at a Bitcoin ATM
Bitcoin ATMs have increased in number in recent years. They provide an anonymous platform where Bitcoin owners just walk to a machine and exchange their Bitcoins for cash. The reason why it is safe is that you are sending the Bitcoins to a common address of the third-party company that owns the machine. And they tend to protect the identity of those who traded with them.
After all, their platforms are secure, and hackers cannot penetrate their security measures. Hence, you can rely on them to conceal your identity when trading.
Sell Bitcoins to a Friend
If you want to stay safe when trading your Bitcoins, you can still sell your Bitcoins to a friend whom you trust. Chances are that no one will have an interest in ever tracing that the two of you conducted a transaction. After all, the Bitcoins are sent directly to the digital wallet of your friend. Additionally, there is no involvement of platforms that could expose you to hackers or authorities who want to track the transactions on the blockchain.
Purchase Using Bitcoins
Although this is not an exchange from Bitcoins to cash, it is a great way to spend your digital coins buying items from reliable shops like Amazon and eBay instead of spending your cash. These shops keep your transaction secure, which means that they can be trusted.
These are some of the best ways for how to convert Bitcoins to cash anonymously. They may not be entirely anonymous, but it is the best shot you have. Sometimes, you might find it necessary to make a coin swap with Moreno or another completely anonymous option to keep the transaction very discreet.