Step-by-Step Guide to Bitcoin Wallets Without SSN
Bitcoin is a digital currency that has gained much attention in the recent past due to the ability of making payments at a fast rate with low transaction fees without necessarily involving the conventional financial institutions.
Bitcoin wallet is one of the most important aspects of bitcoin as it allows users to store their coins and perform transactions.
Some of the services require users to register both an address and personally identifying information such as social security number during the creation of the bitcoin wallet.
Yet, enforcing the usage of social security numbers for bitcoin wallets is unwise as it counteracts the inherent concept of decentralization and anonymity of bitcoin.
The good news, however, is the fact that there are numerous bitcoin wallet providers that do not ask for social security numbers.
Do We Really Need to Have Our Social Security Numbers to Use Bitcoin Wallets?
This paper focuses on bitcoin as a decentralized digital currency not regulated by governments or central banks. Bitcoin is a Decentralized Currency in which users can make payments without revealing their identities and the transaction can be done from one Bitcoin address to another.
This ensures that there is no exposure of financial information and that the user has control over his/her finances. This is a contradiction of the basic principles of bitcoin which include autonomy and the concealment of users’ identity using their social security numbers.
Social Security numbers are an important form of identification and should not be given out lightly or for any reason other than taxation, employment, or financial matters. It is advisable not to disclose social security numbers in Bitcoin wallets because they store money and other financial details.
However, since the bitcoin protocol is decentralized, users can select wallets which provide varying levels of anonymity and many of these do not store any personal information of the users.
Choosing a Bitcoin Wallet Without a Social Security Number
Here is a brief overview of each wallet and its security model and identity requirements that should be of interest for privacy-conscious users selecting a wallet
Here are some good options for bitcoin wallets without social security number requirements:
Hardware wallets: A hardware wallet is a type of bitcoin wallet that is usually a portable device that is used to store bitcoin in offline mode and some of the best examples include Trezor, Ledger and Coldcard. To use hardware wallets, there is no requirement to disclose any personal information. The user only has to enter security passwords and backup phrases.
Mobile wallets: There are several well-known bitcoin mobile apps such as Edge, BRD, and Blue Wallet which can be used in this way without compromising anonymity. However, there are some mobile wallets which have the buy/sell option and they may demand for users’ identification.
Desktop wallets: Web-based applications like the famous Electrum wallet and newer wallets like Wasabi are installed on a user’s laptop/PC and do not require the user to submit identification documents or personal information.
Paper wallets: Paper wallets: they are Bitcoin private keys written on paper (stored off line) and do not require the use of IDs. Some websites like WalletGenerator.net provide open source paper wallet generation.
Hidely Anonymous Bitcoin Wallet: A no social security number bitcoin wallet that is gaining in popularity is Hidely. Hidely is a bitcoin wallet that claims to be fully anonymous and focuses on the mission of empowering users to make private transactions without being restricted by censorship.
Some key things to know about the Hidely bitcoin wallet:
- No identity requirements: To create an account and use the Hidely bitcoin wallet, the platform does not ask for any documents, verification, or personal details. On signing up, the system will automatically create a user’s private, random bitcoin address.
- Tor integrated: The Hidely wallet works on the TOR network which allows the user to hide his/her IP and remain anonymous. To ensure anonymity, all transactions are completed using the Tor network to prevent identification of the wallet activities.
- There is no limit on the amount of purchase or access: There are no limitations on what one can buy, deposit, and withdraw or the balance one can have. Users have the freedom of the bitcoin system.
- Secure open-source infrastructure: Hidely employs multi signature wallets with strong encryption and secure key storage implemented on audited, open-sourced code.
- Strong privacy model: Hidely does not in any way collect or store personal user data. It is important to note that Hidely wallet does not require one to provide his or her email or phone number to sign up for and use the wallet.
Since the app does not ask for SSN or other forms of identification which may include personal data, Hidely and other bitcoin wallets like it enable the user to manage the bitcoins without the intervention of a third party.
They support the basic tenet of bitcoin as a form of financial freedom and privacy unknown to the traditional banking systems.
Create Free Hidely Bitcoin Wallet Without a Social Security Number Today
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