Using bitcoin anonymously
It is not uncommon for people to erroneously presume that bitcoin is a completely secure currency. Although Blockchain technology like bitcoin initially guaranteed anonymity, apparently, there have been modifications in Satoshi's initial blueprint. The significance of conserving your personal information and digital footprint cannot be overstated. Blockchains are publicly available and are not concealed privately. This implies that your account can be viewed by anyone for the purpose of accessing it. This may negatively impact your bitcoin wealth and online identity. Public ledgers would require that you make additional arrangements to use a bitcoin tumbler so that the bitcoin can be used anonymously.
A public ledger can be likened to a list posted on a notice board. It can be viewed by anyone walking past and has basic comprehension skills. For public Blockchain records such as bitcoin, as long as the third party is connected to the internet, they can view your bitcoin wallet account to see your past and current transaction records.
The “pseudo-anonymous’ nature of bitcoin
Your first bitcoin purchase from any of the foremost crypto traders required the creation of a link between your bank details and your bitcoin wallet account. As soon as the bitcoin was added to your account, it became traceable back to you. Further modifications of the initial address can still be traced publicly. In spite of the fact that you are allowed to create multiple bitcoin wallets for your bitcoin to be transferred every day, 100% anonymity is still not guaranteed, mainly due to the public ledgers.
The issue of privacy is continually being addressed in the crypto scene and the number of viable options remains limited. A widely used cryptocurrency converter was recently compelled to record transaction history and verify the identity of their users.
Anonymity-oriented digital coins like ZCash and Monero are not yet completely effective in ensuring complete anonymity. Activating the anonymity feature of these digital coins is quite expensive and typically receives minimal support from other wallets and exchanges.As a result of the scarcity of completely anonymous bitcoins, there is a limit in the options available to users who are looking to increase their anonymity.
Although the identity of the holder of the bitcoin wallet account is not openly displayed. With the constant innovations in the crypto sphere, there have been attempts by regulatory bodies to limit the amount of bitcoin that can be owned by each person.
Using bitcoin anonymously
It is important to understand the importance of anonymously using bitcoin. Otherwise, there is a likelihood that your identity may be discovered and your bitcoin transaction records may be available for all to view.
In the event that you want to shop online while still ensuring that your identity is kept safe from the vendor, or even if you are looking to transfer bitcoin to a different person without disclosing your identity or your previous business partners on the bitcoin network.
In both situations, it is safer for you to safeguard your identity and protect your bitcoin wealth by anonymously using bitcoin.
Using a bitcoin mixer to protect your privacy
A highly effective way of increasing the anonymity of your bitcoin, and eventually your wallet, is by using a reliable bitcoin mixing service such as Tumbler.io. By following a set of simple steps, your bitcoin can be made totally untraceable to you at cost-effective prices and at the fastest time possible. Additionally, even if financial regulators demand records, the bitcoin mixing service does not keep any record of your previous business dealings with them.
Guaranteeing 100% anonymity is the major brand objective of Tumbler.io so mixing coins is done with utmost precision using top-of-the-line technology. You would be sent a guarantee letter to enable you to confirm the authenticity of the fresh bitcoin sent to you, this would ensure that you can be certain that your bitcoin cannot be traced back to you for an in-depth understanding of the process of mixing bitcoins, check out Tumbler.io to watch one of the videos.
How to use bitcoin mixers
The steps involved to use bitcoin without revealing your identity is quite simple.
- Selecting a reliable bitcoin mixer like Tumbler.io is the first thing you are required to do
- Once you have completed the required specifications like the recipient’s address and duration of delay, a one-time deposit address will be sent to you by the bitcoin mixing service.
- Once your bitcoin has been deposited in the account sent to you, await the next step of instructions and then the mixing service provider will send untraceable bitcoin back to you.
- Now the bitcoin in your holding is fresh. The bitcoin can safely be used for payment and transactions without any fears that your identity will be uncovered, provided that the wallet you do not decide to select a centralized exchange wallet or a pre-owned bitcoin wallet address.
Bitcoin wallet with 100% anonymity
Using the bitcoin tumbling service provided by Tumbler.io means that you are severing the connection between your bitcoin account and your identity. There was a thorough mixing of the bitcoin you deposited and bitcoins owned by other people in a giant bitcoin pool, so any past history has been erased.
Your identity and bitcoin wealth is a subject of interest for regulators and tax agencies. Their interest can be attributed to the fact that they want to know the amount you earn and enforce the payment of tax. However, they are not the only ones you should be wary of because if your identity can be discovered by tax agencies, there is no assurance that it cannot be discovered by cyber fraudsters too, and these sets of people would only be looking to steal your entire blockchain earnings.
It is imperative that you select a reliable bitcoin tumbler provider like Tumbler.io whenever a new bitcoin is purchased so that your bitcoin wealth and identity can be kept away from wandering fingers.
Disclaimer: This article is not intended to provide financial advice or promote the use of Bitcoin and other cryptocurrencies. Its main purpose is to inform, explain, and educate. Readers must make their own decisions regarding the use of such services.