How to buy Bitcoin without ID in Indonesia

As lawmakers in Indonesia and around the world gradually introduce tighter regulations on cryptocurrency trading, it’s becoming more difficult to buy crypto without ID.

However, if you don’t have suitable proof of ID or if you simply value your privacy, there are still some sites where you can buy cryptocurrency without completing a verification process.

Keep reading to find out how.

Buy Bitcoin without ID verification on these exchanges

Compare cryptocurrency exchanges by fees, fiat currencies and deposit methods to find the right fit for your needs. Click Go to site to get started.

Sort by:

Name	Product	Deposit methods	Fiat Currencies	Cryptocurrencies
Binance Cryptocurrency Exchange		Bank transfer (ACH)	USD, AUD, GBP, EUR, RUB, TRY, NGN, UAH, PHP, CZK & 20+ more	371 cryptocurrencies	Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support. US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US. UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.	Go to site View details	Compare	loading Fetching your data...
KuCoin Cryptocurrency Exchange		Cryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPA	USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more	602 cryptocurrencies	Finder exclusive: Sign up and use code 1xf56 for one month of VIP 1 benefits. Deposit/transfer more than 0.1 BTC to KuCoin within 7 days of registration for 1 month of VIP 2 benefits. T&Cs apply. Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.	Go to site View details	Compare	loading Fetching your data...

loading

Compare up to 4 providers

Clear selection

Compare

Some exchanges have different thresholds for verification requirements. For example:

• LocalBitcoins lets you buy Bitcoin without verifying ID, but only up to 1,000 euros or equivalent per year. It does not let you sell Bitcoin without verifying identity.
• Paxful does not require ID verification for account creation, but requires verification for accounts that reach the equivalent of US$1,500 in trade volume or wallet activity.
• Binance and Kucoin only offer crypto-to-crypto trading, but neither requires ID for trading and both offer withdrawals limits of 2 BTC per 24 hours without verification.

Three ways to buy cryptocurrency anonymously

If you want to buy cryptocurrency without ID verification, there are only a few options to choose from:

Why is it difficult to buy crypto without ID?

There’s a widespread misconception that cryptocurrencies are simple to purchase anonymously, but this simply isn’t true for a couple of reasons:

Increased regulation

Regulators in Indonesia and around the world are gradually introducing legislation that governs digital currency exchanges and the buying and selling of cryptocurrencies. These laws regularly include a requirement for exchange operators to identify their customers in line with Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulations.

For example, since February 2019, digital currency exchanges in Indonesia have been required to:

• Register and enrol their business with the Commodity Futures Trading Regulatory Agency (Bappebti)
• Adopt and maintain AML/CTF programs
• Report suspicious matters and transactions
• Keep records relating to customer identification, transactions, and their AML/CTF program

As a result of this sort of legislation in Indonesia and several other countries, many exchanges will now require you to provide proof of ID before you can start trading.

Bitcoin is pseudonymous, not anonymous

Because it’s possible for Bitcoin users to send and receive BTC to one another without providing proof of ID, the currency is sometimes described as being anonymous. However, a more accurate way to refer to Bitcoin is as a pseudonymous currency.

One commonly repeated comparison likens transacting with Bitcoin to an author writing under a pseudonym – if their true identity is ever discovered, anything they wrote while using the pseudonym can be linked directly to them.

Your Bitcoin address is like an author’s pseudonym, and every BTC transaction you make is stored for all eternity in a public ledger known as the blockchain. So if your Bitcoin address is ever linked to your identity – something cybersecurity researchers say is quite straightforward to do – all your transactions could be traced back to you.

Why might people want to buy crypto without ID?

In the court of public opinion, there’s a widely held belief that the main reason anyone might want to buy cryptocurrency anonymously is so they can pay for all manner of illicit goods and services in the hidden corners of the dark web.

But while there’s definitely some truth in this idea – after all, anyone involved in illegal activities would have good reason to want to cover their tracks – there are also plenty of legitimate reasons why someone might want to buy Bitcoin or some other crypto without any ID.

For example:

• If you’re worried about crypto exchanges being targeted by hackers and your personal information (including your driver’s licence/passport details) being stolen
• If you own a lot of crypto and don’t want to be targeted by thieves
• If you don’t trust the government (this may be less of a concern in Indonesia, but can be a real issue for people living under authoritarian regimes)
• If you don’t have any ID (an estimated one billion people around the world don’t have proof of identity)

Finally, there’s also the simple fact that the ID verification process on some platforms can be frustratingly slow, particularly during times of increased demand. If you want to purchase crypto as fast as possible to take advantage of an anticipated price change before it occurs, buying without ID verification might be a quicker option.

More ways to protect your privacy

If privacy is important to you, there are several steps you can take to protect your identity when sending and receiving cryptocurrency. These include:

• • Using a new address for each transaction. Using a new address for each crypto transaction is a simple way to prevent separate transactions being linked back to you as the common owner. Hierarchical deterministic (HD) wallets like the Ledger Nano S allow you to generate a new address every time you receive Bitcoin.
  • Using multiple wallets. Another option to increase your anonymity when transacting with crypto is to open and maintain multiple wallets.
  • Using a mixing service. Bitcoin mixing services rely on a data anonymisation method known as CoinJoin, which basically jumbles payments from multiple users together into a single transaction. This is designed to make it much more difficult for prying eyes to determine who sent money to whom.
  • Hiding your IP address. Your IP address is a unique address for your computer that reveals where you’re connecting to the Internet. To prevent it being linked to your cryptocurrency wallet address of transactions, you can consider ways to hide your IP, such as using a VPN service or encrypting and rerouting your Internet traffic through a service like Tor.
  • Using a dedicated privacy coin. Coins like Monero and Bytecoin have built-in privacy features designed to provide anonymous transactions.
  • Taking simple privacy precautions. Be mindful of your footprint when using the crypto buying methods listed higher up this page. For example, avoid giving someone your phone number when paying cash for Bitcoin on a local exchange.

Pros and cons of buying cryptocurrency without ID

Bottom line

Whatever your reason for wanting to buy crypto without ID, there are several options available. However, each of those methods comes with a varying level of risk and its own pros and cons, and you’ll usually need to pay an additional premium to get the privacy you want. Make sure you research all of your options before deciding on the safest approach.

Compare exchanges that don’t require ID

FAQs

Disclosure: As of October 2018 the author holds ADA, ICX, IOTA, POWR and XLM.