There are no names and no accounts in the Bitcoin ecosystem: only anonymous Bitcoin wallets. It makes transactions with people less of a hassle and doesn't require you to input confidential data such as your personal information or credit card details.
you must figure out how to buy enough btc without providing any personal data, sadly most mayor exchanges now follow kyc and aml policies so those are out of the question, this leaves only a few services or using a btc atm or mining (but that is no longer realistic)
you must tumble the coins after to further obfuscate their origin
the merchant you are buying from will know your delivery address, the btc address that the payment came from and the ip used when ordering which they will happily give to law enforcement should they get in trouble (and most eventually do get caught)
All the interactions between your wallet and the internet should be done over tor as should any purchases and you must find a way to get the products delivered to a fake address.
Only after all of this are you at least close to anonymous. Unless law enforcement is really trying to get you (unlikely unless you are also distributing the products in large amounts, buying smaller quantities for personal use is safe).
Bitcoins are stored in digital wallets, which is a unique identifier for your balance. You can choose to keep your bitcoins offline, but there are also hundreds of online wallet services to keep your bitcoins in.
Bitcoins can be converted to 'real' currency in online marketplaces. You'll often pay a small fee, but that's negligible compared to the average charges. The worth of your sold bitcoins can be transferred to your bank account. This also makes Bitcoin an ideal solution for global payments with different currencies.
Bitcoin payments take place in the 'blockchain', and must be processed before a payment is completed. This can take anywhere from a couple of minutes up to a couple of hours. However, if you pay a small fee, your transaction is more likely to be completed faster.
Altough the popularity of Bitcoin is on the rise, there aren't many individuals who use bitcoin as a payment method. Hewever, webstores and services that allow Bitcoin payments are increasing.
Users can secure their wallet though encryption all while keeping this info offline. They can be backed up as well, meaning many encrypted copies of the wallet (and the funds contained) can be stored securely.
Skrill is an extremely popular and fast payment method for online casino's, but these are only available throughout Europe, with New Jersey being an exception. US and Canadian citizens might have trouble finding the service.
This peer-to-peer payment system focuses highly on the social aspect of making transaction. There's a feed where you can view Venmo activity of your friends which makes the app ideal for splitting purchases.
Venmo features a very clean and easy to use interface and mechanics. Signing up is quick and won't require you to validate your information for small transactions.
The app is meant to send and receive money through simple transactions, which means there are no online stores or services that can accept Venmo payments.
All transactions in Venmo are tracked and some of them are even features on an overall activity feed. Enabling privacy options is possible, but it requires some work and will be overlooked by most users.
Banks usually offer their own exchange rates, which is usually a pretty hefty "hidden fee". TransferWise uses the mid-market rate and charges you for the transactions in a more transparent way.
When your account is not verified, PayPal can decide to (temporarily) freeze all your funds until all proper documentation has been provided by the user. For example, European users who have received more than 2.500 EUR in a year will have their funds frozen until user identification is provided.
After having $6K worth of fraudulent chargebacks taken from us, and several arbitrary fund freezes by AI bots, we were given no recourse other than suing PayPal, as suggested by one of their reps. Unbelievable.
Although PayPal won't charge you for buying items and services or sending money to friends and family, there are some fees that could be an additional cost. There are fees for getting paid/sending money as well as merchant fees.
PayPal has a very strict policy on defending their users for fraudulent activities from vendors. If you are unhappy about an order or a transaction and are in your right, you can appeal to PayPal Support which will help you undo the transaction.
You can transfer money to other PayPal users simply by entering their email address and the amount you wish to transfer. Payments are instant and can also be sent to users who don't have a PayPal account yet.
Wepay closed our account and refunded dozens of customers automatically instantly after the orders had shipped with no recourse when one of their AI bots discovered we sold natural supplements, which apparently is against their policy, although we never saw it in their terms of service.
Square Cash features an intuitive feature that allows you to collect money from anyone in the world with a $Cashtag, a variation of the popular hashtags. If you specify a cashtag - for instance $Mike - anyone can send money to this particular cashtag and it'll be transferred to your Square Cash account instantly.
You can scan your credit or debit card with the camera on your smartphone to instantly link the two payment methods. Sending and receiving money is also very simple via the Request and Pay buttons. You can also send or request money from non Square Cash users with a message that includes a link to the App Store or Google Play Marketplace.
Add to Chrome
Add to Edge
Add to Firefox
Add to Opera
Add to Brave
Add to Safari