Learn How to Cash out Crypto Anonymously
Most cryptocurrency exchange platforms guarantee secure transactions, making it difficult for hackers to intercept the information. But people are still looking for crypto anonymous exchange platforms to cash out crypto. Currently, there are two types of crypto exchanges — centralized exchanges (CEXs) and decentralized exchanges (DEXs).
CEXs are known for their ease of use and high trading volume. However, they must comply with KYC practices as they store private keys and users’ information.
DEXs offer users a true sense of ownership and control of their assets, negating the need to comply with KYC regulations.
If you are wondering how to cash crypto anonymously, you will find some of the options below.
How to Cash out Crypto
Cryptocurrency transactions are recorded permanently on a digital ledger. There is direct access for the public to see the addresses of everyone involved in the transaction.
The transparency and traceability of cryptocurrency operations make it difficult to cash out crypto anonymously, especially when you have to use KYC exchange platforms.
Let’s look at some ways you can evade disclosing your identity while carrying out financial crypto transactions.
#1. Cash-out Crypto Anonymously in Person
This is one of the easiest and most underappreciated ways. You can join a social media group to seek buyers.
As the adoption of cryptocurrency is increasing, you will be surprised to find a lot of people who are willing to exchange crypto at a price lower than the exchange rate.
#2. Exchange Crypto in Online Shops
One of the easiest and feasible ways to cash crypto is to trade it for tangible or intangible objects in online shops that accept crypto. Many online shops are gradually integrating cryptocurrency as a possible payment option.
If you don’t trust any websites and you want to be on the safe side, another way to cash out crypto is to buy a gift card. Amazon and Bitpay allow their clients to purchase gift cards using crypto.
You have to choose the gift voucher you want from the catalogs, select crypto as your payment method, and pay. It’s that simple.
#3. Use an Anonymous Crypto Wallet
There is a high demand for anonymous crypto wallets because most people prefer untraced transactions.
There are five top options that you might want to use:
- Samourai Wallet
- Ledger Nano Series
#4. Cash out Crypto on Anonymous Exchange Platforms
Use a decentralized exchange platform. While most services offer guaranteed full-scale privacy for vital data, there are limits on daily deposits and withdrawals.
However, there is one exchange that stands out from the crowd. Godex is completely anonymous, and you don’t have to register there. Personal accounts, verification, limits — none of these applies to Godex.
To start trading cryptos, you would need just to open the page with the converter and specify the exchange pair. The collection is vast — more than 300 coins and tokens are available.
The only thing you will provide is the destination wallet address. After you choose the pair and indicate the amounts you wish to buy or sell (you can fill one of the fields, and the other one will be updated automatically), click on the Exchange button. Godex will lock the exchange rate for you, so it will not change during the transaction all of a sudden.
In 30 minutes maximum, you will get your funds. If you are curious about the details, you can even read the report on the Completed page. That’s it! No KYC, no ID checks, no limits on your operations. Moreover, the team erases all transaction information from their servers in a week. Fixed rates and the speed of the process add to the usability of the service.
On top of that, Godex uses the latest security protocols and SSL encryption. The platform is also protected from DDoS attacks. Are you eager to try it already?
Despite the massive adoption of cryptocurrency, most crypto transactions require your personal information. The KYC policy adopted by some exchange platforms makes it difficult to cash out crypto without revealing personal details.
To avoid risking your private information, use one of the options recommended in this post. In this digital era, it is still possible to maintain confidentiality, at least to some extent. Happy and safe trading!