This article is part five of a five-part series designed to demonstrate to Bitcoin beginners how to install, secure and use a Bitcoin wallet. This part of the series covers purchasing non-KYC bitcoin for your new Bitcoin wallet.
Now that you understand the importance of self custody and the dangers of KYC, and have installed a mobile or desktop wallet, here is how you can start getting bitcoin safely and privately.
There are many ways to get non-KYC bitcoin. You can earn it in exchange for goods and services. You can mine it at home. You can buy it at an ATM. Or you can buy it on a peer-to-peer exchange. This article will show you how to buy a small amount of bitcoin at an ATM, install and set up Bisq and then use the bitcoin to fund your first Bisq trade.
Step One: Buy Bitcoin At An ATM
If you followed the instructions in part two or part three of this series, then you now have a fresh mobile Bitcoin wallet. Take your mobile wallet with you to the Bitcoin ATM so that you can deposit your funds onto your mobile wallet.
Make sure that you have cash on hand. The majority of Bitcoin ATMs will have varying levels of KYC requirements based on dollar-amount thresholds. These thresholds can vary by jurisdiction or ATM operator or a number of other factors. Typically, if you are buying between the $1 to $500 range, the only requirement will be a phone number for a text verification.
Consider using a burner phone number for this to preserve your privacy and not have any Bitcoin ATM transactions potentially traced back to your name through your mobile service provider.
Next you will need to find an ATM near you. I like Coin ATM Radar because it has a handy mobile app and there are a lot of good resources about the Bitcoin ATM industry on its website.
With your mobile phone and cash, travel to your desired ATM location, being cautious of security cameras at the place of business that…