Maintaining anonymity online is an important aspect of your own security. Users’ personal data is used by criminals to steal money from accounts and sold to third parties. Therefore, bitcoin wallets without verification have become a necessity for people concerned about their security. Some vaults use additional methods and technologies that increase anonymity.
Types of Bitcoin wallets
Access to addresses in the blockchain is provided by special programs and devices. They are called cryptocurrency wallets. They are classified depending on the need for the Internet. The differences of each group by the method of storing the private key are presented in the table.
| Custodial | Non-custodial |
|---|---|
| Internet connection is required for operation | Hardware cryptocurrency wallets store currency without a network, others require the Internet |
| Private keys are held on the developers’ servers | Access codes are stored on a separate device |
| Have many useful features | The number of options is limited |
| Often work in browsers | Function on user devices |
Cryptocurrencies are additionally categorized by the way they store and manage digital assets:
- Hardware. These are separate devices that store private keys to access cryptocurrency. Their appearance often resembles an ordinary flash drive, card or keychain. They have their own controls (display, buttons).
- Paper. The difference from hardware wallets is that the private key is contained on a paper medium.
- Software (desktop and mobile). These are cryptocurrency wallets that are installed on personal computers and smartphones. The private key is stored on the user’s device.
- Online (browser extensions and services).
List of bitcoin wallets without verification procedure
In 2024, there are many vaults from different developers and manufacturers. Most require identity verification, which is potentially insecure. The best Bitcoin wallets without verification:
- Bitcoinwallet.
- Ledger Nano Series.
- Samourai Wallet.
- Bitcoinru.
- Electrum.
Bitcoinwallet
The online service for creating a bitcoin wallet is able to generate a seed phrase and private key from the vault without the Internet. This will allow you to maintain anonymity. The algorithm of actions is as follows:
- Go to the official website of the service.
- Disconnect from the Internet.
- Re-create a seed-phrase of 12 words. It should be written down (printed) and stored in a safe place.
- Click the Create Wallet button.
The service does not require to specify personal information, e-mail, phone number and other data. Also bitcoin-wallet does not use cookies. The procedure of creating a cryptocurrency wallet will take no more than 1 minute. The site is translated into 7 different languages, including Russian.
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It is recommended to use VPN services or Tor to work with bitcoin-wallet. This will additionally increase the level of anonymity.
Ledger Nano Series
The devices resemble a flash drive in appearance. They allow you to accept, store and transfer more than 5500 coins and tokens. Verification is not required to work with hardware wallets. Using a VPN will in addition increase the level of anonymity by hiding the real IP address.
When you turn on the device, you need to configure it. The first step is to set a PIN-code from 4 to 8 digits, which will be used for authorization. The second is to create a cid-phrase of 24 words. It is needed to restore access to digital assets in case of loss of the device. The mnemonic phrase is written on a card that comes with the device.
The Ledger Nano S and Nano X cost in Russia on the official website is 5499 and 13396 rubles respectively (current as of February 2022).
Samourai Wallet
The developers of this mobile cryptocurrency wallet emphasized user anonymity and the security of digital currency. For each transaction, it creates a new address, which is seen only by the sender and the recipient. Registration and identity confirmation are not required. All data used by the application is encrypted with the AES-256 algorithm (key generation method) and VPN.
Additional features increase the security of clients and stored cryptocurrency:
- Scrambled PIN. Protects the user from spyware viruses and hidden screen recording programs.
- Full Offline Mode. Allows you to delete and then restore a bitcoin wallet via SMS messages.
- Stealth Mode. Hides the application icon from the user’s screen. Samourai Wallet is opened using a special code.
- Whirlpool. An algorithm for mixing digital assets with other users’ cryptocurrency. It splits the transaction into many small transactions and then returns the coins to customers. Tracking them becomes significantly more difficult.
Samourai Wallet is available on the Android operating system in February 2022. The website states that an iOS version is in development.
Electrum
This is a cryptocurrency wallet program developed in 2011. There are versions for Windows, macOS, Linux and Android. To work with Electrum Wallet, you need to come up with a login and password. It is not required to specify personal data. The application generates a new address for each transaction.
Additionally, the Tails OS will help to increase the level of anonymity. This is a portable operating system that runs from a third-party media (flash drive, disk or other storage devices). It hides the user’s real IP address with the help of a VPN.
Bitcoinru
A simple online wallet for bitcoins has been operating since 2018. To create a vault, you only need to provide an email address and a password. The service warns that it does not store users’ e-mail for security. In case of loss of mail and password, it will be impossible to restore access to the cryptocurrency wallet. When working with Bitcoinru, it is recommended to use a VPN or Tor. This will increase anonymity.
How to protect your assets
Wallet hacks and cryptocurrency thefts happen regularly. According to the analytical company Chainalysis, hackers stole about $14 billion in 2021. The issue of security of digital assets is important and concerns all market participants. There are ways to improve the security of cryptocurrency storage. Here are some of them:
- Use different wallets. No storage, even hardware storage, can guarantee 100% security. To diversify risks, it is recommended to keep assets on different cryptocurrency wallets.
- Enable two-factor authentication (2FA). This is the second level of protection after entering a login (e-mail) and password. For authorization, you will also need to specify a code from the Google Authenticator application. It is generated anew every 30 seconds.
- Be careful. Attackers create phishing sites that completely copy real services for storing cryptocurrency. When a user authorizes on a fake resource, hackers will receive data to enter the wallet.
- Use proven services, devices and programs. It is necessary to read customer reviews before starting or buying a cryptocurrency wallet.
- Store the seed phrase offline. Access to it will allow attackers to steal digital assets.
Summary
Personal data security is one of the priorities when working online. Users’ personal information is being hunted for. Attackers sell it to third parties, steal fiat and cryptocurrency with its help. Therefore, it is recommended to use wallets for BTC without verification. This will allow you to maintain confidentiality.
Frequently Asked Questions
🏢 What is a cryptocurrency exchange without verification?
It is a trading platform for digital assets that does not require documents to verify identity.
❓ How to buy cryptocurrency anonymously?
🔐 Is it safe to use trading platforms without verification?
Among such services are reputable and verified crypto exchanges: Binance, Bitmex and others.
🙃 Why have many trading platforms started to require verification?
Financial regulators insist on compliance with anti-money laundering and anti-crime regulations.
🧾 What data do I need to disclose during verification?
Often services require any identity document (passport, driver’s license or passport). In some cases, you will need to confirm your residential address. A bank statement or utility bill will do.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.
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