Yes, there are ways you can opt for to keep your transactions and bitcoins safe. We got you covered here; we’ll talk about all that you can do to keep yourself protected while trading on the blockchain.
Well, come let’s find out.
Bitcoin has been slowly emerging for a decade. But the recent shift to online has given it fuel to speed up and it has been on the rise since. Especially because of the endorsement that it’s getting from the top business tycoons, such as the likes of Elon Musk.
And none of us would be shocked If we say that crypto is the currency of the future.
Keep your bitcoins anonymous, to keep them safe:
Ask anyone who has ever bought bitcoin, they will tell you how exhausting a task it is to keep yourself anonymous on the blockchain. It possesses the greatest of threats, to expose your private address in the public.
And sometimes it so happens that, no matter what you do or how hard you try to keep it all private and safe, something somewhere goes wrong and you’re exposed to potentially great danger.
It’s quite impossible that you do not leave any traces behind and that sometimes makes you traceable.
On that note, I’d like to stress the fact that everyone knows, it’s easy to trace someone on the blockchain network, once their private address is exposed.
While the design of the bitcoin transactions is such that it is not associated with someone’s identity or it does not require individuals to provide their personal information.
It’s a task to protect your bitcoins because you never know who is behind you, keeping a track of all your transactions?
And that’s the primary reason why you should remain anonymous while
You must choose a trustworthy bitcoin wallet.
This blog will give you reasons and logic to understand why it’s truly important to safeguard your digital currency while you can.
We all know, a bitcoin wallet is just an address where one can hold or store their bitcoins.
The bitcoin address enables you to receive and send digital money.
When you send or receive bitcoins from someone’s account, you do not send to or receive from an individual’s account, but it’s just an address, a series of alphanumeric strings.
With this address, you can send money to others easily.
It is always in the best interest to choose an anonymous wallet to trade, to remain safe.
The higher the amount, the higher is the transaction fee. While the charges are lower when you transact in lower amounts.
Either way, risk elements are always there!
However, Bitcoin mixers are a tool to help you keep your digital currency safe.
Bitcoin mixers are often considered to be the best when it comes to making transactions anonymously.
Bitcoin mixers are known to be a public ledger that records the bitcoin data transactions as and when they are made.
Bitcoin mixers help the users to keep their identities hidden, quite efficiently.
With the help of bitcoin mixers, the blockchain network becomes a bit easier to use as it helps to maintain the security and privacy of the user’s address while making transactions.
It is a paid service, which users on the network may choose to keep themselves safe and hidden.
The reason why users are keen on remaining hidden, or keeping transactions anonymous is to stay protected from the complexity of legal proceedings.
- Tor browser may be stated as another alternative to keep transactions anonymous and addresses private and hidden.
This browser provides users with surveillance-free internet use. Anonymity is the prime motive with which the browser operates, so it ensures that users are given complete anonymity.
Users may connect to the network using the Tor browser, for that matter.
You will find another browser inside it that is automatically connected to the Tor browser, Brave browser. It is a built-in feature of the Tor browser.
Hence, there’s no chance that the transactions were made using the Tor browser.
- Logless VPN is one of the other options we can use, that helps in making transactions in a way that no traces are left behind.
- Or New Address can be used.
This is another option we can opt for, generating a new address for every transaction, every sale, and purchase of bitcoins.
These steps and methods can help you remain safe while trading in the riskiest currency on the globe.
Transactions that are made anonymously are secured from the potential threats that are there. As it ensures that none of your addresses goes in public view. So now it’s your job to ensure that all your transactions and private keys are safe with you.