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azb1

Entrepreneur
1) Buy Gift card


2)Buy Gold


3)Buy Bitcoin loaded ATM/ VCC card

You can get more info inside mentor Group.

4)Register IT corp and Invoice the transaction

I find this four method for spending bitcoin without Raising Red Flag.

Do anybody Know another method ?

Please Do share .


Thanks
 

Admin

Forum Moderator
Staff member
Elite Member
Keep track of Bitcoin is not easy and often impossible. That is why many sell their goods cryptocurrency, especially those products that consumers who wish to remain incognito.
There are still tons of ways to hide your cryptowallet from the public if you think about it, so it is possible to buy stuff for crypto, not big of an issue so far. I believe in a few years this will change, but until then, it is still the wild west regardless what propaganda governments and media try to convince you.
 

thunderfrog33

New member
Keep track of Bitcoin is not easy and often impossible. That is why many sell their goods cryptocurrency, especially those products that consumers who wish to remain incognito.

Be extremely careful! Bitcoin transactions are almost a 100% traceable. I don't know where this myth that your transactions are private comes from. It's all in a public blockchain... You can simply follow the coins around from wallet to wallet. There's an entire industry built around tracing bitcoin transactions.

Using things like mixers and coin-joins are not advised either, as that will most certainly get you blacklisted and assets frozen on exchanges.
 

Admin

Forum Moderator
Staff member
Elite Member
Using things like mixers and coin-joins are not advised either, as that will most certainly get you blacklisted and assets frozen on exchanges.
Have you tried that, any official stories about that statement?
 

John Spectre

Entrepreneur
Have you tried that, any official stories about that statement?

Its a real thing.
All reputable exchanges uses aml checks for the crypto deposits.
Crypto after mixer are clearly flagged and such things could be blocked automatically from exchange site and you will spend long days describing how you get such crypto.
(Its a for people who said that crypto is scam, uses by fraudulent and easy for avoid AML comparing to the fiat and traditional banking rules. Haha good luck :D)
 

thunderfrog33

New member
Have you tried that, any official stories about that statement?
I haven't personally. I stay away from Bitcoin because of it's non-fungible nature and lack of any privacy. I like my currencies fungible ;)

Since I'm new here, I can't yet post links, but if you Google "bitcoin coinjoin exchange account frozen", you'll see multiple instances of this happening to other people.
 

12345

Active Member
if you use wallet without KYC and don't buy BTC on exchanges or places that require KYC then how would they trace you? I don't understand
 

thunderfrog33

New member
if you use wallet without KYC and don't buy BTC on exchanges or places that require KYC then how would they trace you?
All you need is a single transaction that can be tied to your identity and your entire transaction history becomes easy as a book to read.

Example: Did you use your bitcoins to ship something for yourself? If the sender gets compromised in anyway, your wallet address is now 100% associated with your identity along with every other thousands of transactions that you thought were making privately.. All you need is one entity that you transacted with to break your anonymity.

Keep in mind that over time, databases of known wallets addresses will continue to be amassed as time goes on, and your transaction history is permanently, and publicly stored on the blockchain!
 

kurwo2f9hofak

New member
A few keywords for interested people to get smart on: Wasabi Wallet, Samourai Wallet, Tornado.cash, Monero.

Note that there are definitely ways to transact anonymously, but some recipients may freeze your funds if they see that you leveraged one of the above technologies. I think this applies mostly to the large European and American exchanges (think Coinbase). You can still get your money back, but they would typically KYC you.

To reduce the asset freeze risk, there are approaches like Samourai's Ricochet, which basically simulates several "normal" transactions after the coinjoin transaction. Thus, it is more difficult for the recipient to know that it was you and not someone else before you doing the coinjoin.

The best way to learn which companies freeze assets is probably via Twitter search.

PS: Some exchanges have frozen remaining user funds when customers used above technologies AFTER withdrawing some of their funds, even when the coinjoin happened 6 months later.
 
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Admin

Forum Moderator
Staff member
Elite Member
The best way to learn which companies freeze assets is probably via Twitter search.

PS: Some exchanges have frozen remaining user funds when customers used above technologies AFTER withdrawing some of their funds, even when the coinjoin happened 6 months later.
Please explain or your user profile will get removed and banned including your posts!
 

kurwo2f9hofak

New member
Please explain or your user profile will get removed and banned including your posts!
Happy to help, what exactly should be explained further? Maybe the below already helps. FYI, my posts only contain publicly available information that anyone can find on the open Internet, if interested. I'm just trying to help, by summarizing it for interested folks. It's a very fascinating space to watch. Just for the record, I'm not encouraging anyone to break any laws. I'm sharing facts, that's it.

The best way to learn which companies freeze assets is probably via Twitter search.
When people have their assets frozen after mixing/coinjoining their cryptoassets, they often complain about that on Twitter (tagging the respective service that froze their assets). Most people are not breaking any laws, they just want some financial privacy. Thus, they are naturally very annoyed if their funds get frozen and it takes them weeks & experiencing massive privacy invasions to get their money back.

With a bit of searching on Twitter, one can find services that have frozen funds in the past.

PS: Some exchanges have frozen remaining user funds when customers used above technologies AFTER withdrawing some of their funds, even when the coinjoin happened 6 months later.
This was just a warning to make people aware of the massive overreach that's happening. There have been some infuriating examples where users had withdrawn some of their funds from custodial exchanges (to an unhosted wallet), kept their funds idle for 6-12 months, and then obfuscated the trail via a privacy-preserving technology (in this case coinjoin). Some exchanges work with service providers to monitor for such behavior and freeze all funds that are still left on the exchange.

This is obviously totally unacceptable. People are not committing any crimes, they just don't want everyone to know what they do with their money and how much they possess.

Does that help?
 

Piano

Entrepreneur
All you need is a single transaction that can be tied to your identity and your entire transaction history becomes easy as a book to read.

Example: Did you use your bitcoins to ship something for yourself? If the sender gets compromised in anyway, your wallet address is now 100% associated with your identity along with every other thousands of transactions that you thought were making privately.. All you need is one entity that you transacted with to break your anonymity.

Keep in mind that over time, databases of known wallets addresses will continue to be amassed as time goes on, and your transaction history is permanently, and publicly stored on the blockchain!
You are right 100%
 

Admin

Forum Moderator
Staff member
Elite Member

azb1

Entrepreneur
what crypto coin was that?

Meanwhile, Bitfinex and Tether, issuers of the centralized stablecoin USDT, immediately froze a combined $33 million worth of USDT suspected to be part of the funds looted in the Kucoin hack – an action that has stirred questions around the influence of centralized platforms.

Some cryptocurrency where a central authority can freeze the particular address balance. Like in this case.
But In the case of bitcoin, nobody can do that unless he/she has more than 50% of the computing power of the mining Network.
 

CoffeeExpert

New member
The problem with Bitcoin is that it is UTXO based. Every transaction since a coin was mined is carried with it. I prefer account based cryptos like Ethereum and 0xMR. Account addresses are visible but the tokens themselves have no history and cannot be blacklisted or tainted, only wallets. If you send your tokens to a contract and withdraw them to a different wallet, they are washed and cannot be tracked. Account based cryptos don't need mixers like Bitcoin or ring-ct and bulletproofs etc. like Monero because they are inherently more private.
 

thunderfrog33

New member
Every transaction since a coin was mined is carried with it. I prefer account based cryptos like Ethereum and 0xMR. Account addresses are visible but the tokens themselves have no history and cannot be blacklisted or tainted, only wallets.
Account based cryptos don't need mixers like Bitcoin or ring-ct and bulletproofs etc. like Monero because they are inherently more private.


Where are you guys getting your crypto privacy knowledge from?? I've seen so many misleading information about crypto privacy on this forum.

Ethereum provides you with ZERO privacy. You're trading off a public ledger for coins for a public/transparent ledger for wallets. Cool - you still have an information graph that can be trivially traversed by chain analysis software. All of your transactions are still public.

Why would you try and shill a no-name coin like "0xMR" - which describes itself as "currently under development" on it's non-functional website over a battle-tested & well regarded as the gold standard in privacy coin like Monero?
 

dread pirate

New member
yes, i wondered the same thing.
Besides monero there is a coin called firo (formerly zcoin) another excellent privacy solution where anonymized Firos are in a general pool of thousands of other commitments and therefore cannot be traced.
 

CoffeeExpert

New member
Where are you guys getting your crypto privacy knowledge from?? I've seen so many misleading information about crypto privacy on this forum.

Ethereum provides you with ZERO privacy. You're trading off a public ledger for coins for a public/transparent ledger for wallets. Cool - you still have an information graph that can be trivially traversed by chain analysis software. All of your transactions are still public.

Why would you try and shill a no-name coin like "0xMR" - which describes itself as "currently under development" on it's non-functional website over a battle-tested & well regarded as the gold standard in privacy coin like Monero?
Read the 0xMonero whitepaper, it outlines it precisely. UTXO based cryptos, which both Bitcoin and Monero are, carry a history with them of everywhere they have been. That's why Monero requires bulletproofs and Ring-CT etc. to be private. Account based cryptos like Ethereum and Ethereum tokens like 0xMR do not require Ring-CT or Bulletproofs to be private because Ethereum and tokens carry no identifying data other than their name. If you send LINK token to a wallet that also holds LINK token, like an exchange wallet or smart contract without KYC, then withdraw LINK token to a new wallet, there is no way to prove that the person that deposited LINK token is the same person that owns the LINK token in the new wallet. LINK token carries no history, only accounts do and you sent to an account that is not linked to the original account. With Bitcoin for example, you would be able to track every Bitcoin the exchange holds back to it's originating wallet, and the wallet before that, and before that, since it was mined. Ethereum and Ethereum tokens like 0xMR cannot be blacklisted, only accounts. They cannot be tracked, only accounts. The way you hide Ethereum and Ethereum tokens is different than UTXO based cryptos. Most people that haven't researched crypto in depth don't understand this and that's why they flock to Monero. 0xMonero can be mined to a new wallet with no history, it's clean and includes built in coin mixing as it is an account based crypto. Additionally it exists on seven different blockchains and cannot reasonably be tracked cross chain.
 
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