Wait! What?
Bitcoins are anonymous, essentially! Aren’t they?
This is the first thought that pops into every reader’s mind. I know! By its virtue, bitcoins are anonymous, as they do not link to a specific person or identity. Bitcoin’s function in a way that the name, physical address, or email id of an individual is nowhere in the transaction. A public address is common in all transactions because they are alphanumeric strings that go out on public records on the blockchain network. But these features don’t stop someone from tracking down an individual’s identity with the help of a public address and IP address.
Scary! Right? Do not worry! There are still several ways to secure your privacy on the network and become an anonymous user.
The first thing you must never do on the network is, let your bitcoin address become a subject of exposure in public. You must use a new bitcoin address every time, via the help of various bitcoin wallets, which has the feature that enables you to create a new address for every transaction you make.
This way, your address remains secure.
Or another way is, you can start using Anonymous Bitcoin Wallet. These wallets keep generating new addresses for every transaction you make, in the backend for you and thereby protecting your address and digital money. Now when we are talking about anonymous bitcoin wallets.
Let’s talk about it in detail? Shall we? Assuming a lot of you, said yes! So, how do we go about creating an anonymous wallet? And how do we use it efficiently?
Are there any specific guides to it? We have got your back! This blog is going to talk about everything running through your mind right now. When you make transactions, traditionally via a debit card/bank, you expose your identity numerous times. Because these institutions already consist of all your personal information. They know how much you are sending/receiving and who you are sending to and receiving from. That’s where Bitcoin comes into the picture. The best thing about transacting in bitcoins is it doesn’t make you go through a third-party channel. And bitcoins anyway, are linked to a Bitcoin address, which doesn’t have any documents consisting of your details. The main aim behind allowing individuals to transact anonymously was to eliminate third-party channels and protect individuals’ details.
It’s very unfortunate that a few who use the system for their benefit and commit serious crimes take complete advantage of the anonymity provided by it. And as a result of anonymity, the law is not able to figure out the real identity for the transactions. Nevertheless, you must always keep in mind, when attempting to buy Bitcoins for the first time, to remain anonymous. Because the bitcoin address is exposed for the public to view that way, the chances of being hacked or theft is high. So, keep in mind that the purpose of keeping an individual anonymous is just that your identity remains protected. And you must be careful with the same. Because I’m sure you wouldn’t want to bid goodbye to your digital money, right?
