#1 2019-11-05 13:30

AD555
Member
Registered: 2019-09-25
Posts: 36

sending bitcoin straight from exchange to vendor?

Currently I use a wallet when I purchase bitcoin. I go from the exchange to the wallet to the vendor.
I dont hold bitcoin and only purchase it when using Tor. Is ther a problem with going directly from the exchange to the vendor/market? Saves a lot on fees.

#2 2019-11-05 14:10

squarecircle
Member
Registered: 2019-10-15
Posts: 53

Re: sending bitcoin straight from exchange to vendor?

Just to clarify.
You currently do :
Exchange → Wallet → Tor Market
You want to know if you can:
Market → Tor Market

How anonymous is your purchasing from the exchange. I feel like that determines how secure your method is.

Last edited by squarecircle (2019-11-05 14:20)

#3 2019-11-05 14:10

Ronald McDruggled
Verified Vendor
Registered: 2019-08-14
Posts: 151
Website

Re: sending bitcoin straight from exchange to vendor?

Dude... no


Cheers,
McDrugs - i'm Lovin' It! :D

#4 2019-11-05 14:10

Ronald McDruggled
Verified Vendor
Registered: 2019-08-14
Posts: 151
Website

Re: sending bitcoin straight from exchange to vendor?

If you aren't buying the bitcoins anonymously you should be going through 2 wallets, not none.


Cheers,
McDrugs - i'm Lovin' It! :D

#5 2019-11-05 14:20

squarecircle
Member
Registered: 2019-10-15
Posts: 53

Re: sending bitcoin straight from exchange to vendor?

I recommend:
Exchange → Wallet → Monero → Tor Market

#6 2019-11-05 15:10

AD555
Member
Registered: 2019-09-25
Posts: 36

Re: sending bitcoin straight from exchange to vendor?

Thanks. I use an anonymous online wallet but purchase at exchange is not anonymous.
I'm finding that each transfer in the process costs alot. So for example putting $400 into tor ends up costing around $460.
Any ways to reduce the costs around this?
Thanks for the advice.

#7 2019-11-05 15:20

ScoobySnacks
Member
Registered: 2019-11-01
Posts: 21

Re: sending bitcoin straight from exchange to vendor?

AD555 wrote:

Thanks. I use an anonymous online wallet but purchase at exchange is not anonymous.
I'm finding that each transfer in the process costs alot. So for example putting $400 into tor ends up costing around $460.
Any ways to reduce the costs around this?
Thanks for the advice.

Sorry to say but this is simply the worst OpSec, transactions through the Bitcoin blockchain are completely public so anyone and everyone can see your coin originated from an Exchange which has all your information on file...

I'd suggest using a BTC mixer such as Wasabi Wallets CoinJoin feature, otherwise doing this conversion:

Exchange -> Desktop Wallet NUMBER 1 (eg Exodus) -> Convert coin to Monero (XMR) -> Send to DIFFERENT Monero Wallet -> Convert back to BTC Wallet NUMBER 2 (eg Wasabi Wallet)**

** Please note that if you choose to mix using Monero, when you're sending your coin back to BTC to use a wallet you have never used before (eg make sure NO PAYMENTS have been made directly from the exchange)


Stay safe,
Scooby

#8 2019-11-05 15:30

AD555
Member
Registered: 2019-09-25
Posts: 36

Re: sending bitcoin straight from exchange to vendor?

Thanks again for the replies.
Scoobys process seems great, but for small amounts it is costly when you get charged at every point of the process no?
Do you know the average cost per say $100?
I'm finding even when I buy extra coin to cover transaction costs I'm often short by a small amount.
Thanks. sorry if this is a naive thread.

#9 2019-11-05 15:50

ScoobySnacks
Member
Registered: 2019-11-01
Posts: 21

Re: sending bitcoin straight from exchange to vendor?

As far as I'm aware there will always be a bit of fees, what I like to do is purchase I large amount (eg 500) then mix the whole amount, at the end i'll have a bit less btc, but i'm 100% sure it's untraceable. It really comes down to if it's worth it for you, if you're getting personal stash or dealing on a small scale to a few mates then you wont need to worry too much but be aware, if law enforcement ever decide to look into the transaction in the future they will always be there, I'd be happy to help more but it comes down to the effort you're willing to put in to stay safer (and the fees sad ) and your situation.

Happy to help though

#10 2019-11-05 18:30

MrRobot
Member
Registered: 2019-10-25
Posts: 55

Re: sending bitcoin straight from exchange to vendor?

cash--->random person--->desktop wallet--->Tor market

So is this also an issue due to your ip address linking you to your desktop wallet or for other reasons?

BTW, thankyou everyone and especially Snobbysnacks, I had been looking for a completely private solution for a wee while now.

Another question, would you recommend a bitcoin mixer over fluffing around with converting to Monero then back again? Is the shuffler alone sufficient or should I still be converting?

Many thanks.

#11 2019-11-05 19:00

ScoobySnacks
Member
Registered: 2019-11-01
Posts: 21

Re: sending bitcoin straight from exchange to vendor?

In my personal opinion, I wouldn't trust 95% of BTC mixers out there, that is just personal preference though, if you're moving larger amounts of cash I'd definitely recommend using Monero as the long term solution.

Although, I would trust Wasabi Wallets CoinJoin feature as it has proven to be of high quality. (Do note that CoinJoin requires a few hundred bucks for you to mix your coin)

For a small scale operation, I'm sure a BTC mixer would work well but at least with Monero you always know that shit is well mixed


Here is Wasabi Wallets explanation on their solution to anonymizing bitcoin, a solid read if I say so myself smile
https://docs.wasabiwallet.io/why-wasabi/BitcoinPrivacy.html#transaction-graph

#12 2019-11-05 19:10

ScoobySnacks
Member
Registered: 2019-11-01
Posts: 21

Re: sending bitcoin straight from exchange to vendor?

MrRobot wrote:

cash--->random person--->desktop wallet--->Tor market

While this works well, it all depends how much you trust "random person" it's essentially trusting someone else with your information as opposed to a exchange website, if you know they wouldn't rat you out then you're chilling


EDIT: But no, as far as I'm aware your IP address isn't linked to the transactions, but be aware all previous and future transactions can be tracked so be aware of what bitcoin address/wallet you're using each time

Last edited by ScoobySnacks (2019-11-05 19:10)

#13 2019-11-05 19:20

MrRobot
Member
Registered: 2019-10-25
Posts: 55

Re: sending bitcoin straight from exchange to vendor?

Thank you! Much appreciate. I have already sussed out Wasabi, I was surprised how easy it is to use. Don't take this the wrong way but how can you be sure it's safe to use?

Edit: Sorry question already answered.

Last edited by MrRobot (2019-11-05 19:20)

#14 2019-11-05 22:00

TormarketSupport
Verified Vendor
Registered: 2019-03-31
Posts: 716

Re: sending bitcoin straight from exchange to vendor?

No one has ever been contacted by LE or experienced problems because they sent bitcoin to Tormarket, AFAIK. Will they in future? Maybe. But what is the worst that can happen? No crime has been committed. Worst case is they manage to get a search warrant and use that to arrest you for some other infraction.
So choose a level of mixing for your risk tolerance. Simplest is to transfer direct from exchange. The highest privacy would involve coinjoining or swapping to other currencies and back. If your house if full of drugs then the latter would make sense. You can use a coinjoin wallet currently to mix with fees only around 0.15% which is very good.

Or buy bitcoin with cash to eliminate all this hassle.

Another topic on same issue http://nz53a6eqr3jchq5g.onion/viewtopic.php?id=274

#15 2019-11-05 22:20

MrRobot
Member
Registered: 2019-10-25
Posts: 55

Re: sending bitcoin straight from exchange to vendor?

If someone was caught using bitcoin, how would we even know? I would assume coming on here to warn others would be the last thing they would feel like doing?

This begs the question, has anyone been caught using bitcoin to buy drugs from the darkweb?

Tormarket - I do recall reading that and was interested with how you said they would need to control your wallet in order to determine the money has been used to pay for items on here, is this because the public record does not contain enough information to put two and two together?

Last edited by MrRobot (2019-11-05 22:20)

#16 2019-11-06 00:20

TormarketSupport
Verified Vendor
Registered: 2019-03-31
Posts: 716

Re: sending bitcoin straight from exchange to vendor?

MrRobot wrote:

Tormarket - I do recall reading that and was interested with how you said they would need to control your wallet in order to determine the money has been used to pay for items on here, is this because the public record does not contain enough information to put two and two together?

When analysing a wallet, a txid is needed to begin, and to obtain one would require sending money to an order or being a vendor and receiving funds.

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