Many people, especially those still new to bitcoin still believe transactions on bitcoin are anonymous. The truth is opposite. Bitcoin is termed as pseudo-anonymous, which means it is relatively anonymous.
But how do you stay under the radar? That is the big question and we are going to answer together.
What are bitcoin transactions like?
In order to understand how to stay hidden, it is essential to know what happens with bitcoin transactions. Here are the facts.
- A bitcoin transaction can be delayed for up to 72 hours. This is because transactions depend on the workload of the network at a given time. It also depends on the specified commission.
- To carry out a transaction, recalculations of wallet balance are done. Together with this is the data entered in the public ledger. Once a transaction is finished, it cannot be reversed.
- Any user can track Bitcoin transactions. This is why you cannot call the transactions anonymous.
Here is how the information can be leaked:
- When you mention the real delivery address while buying goods with Bitcoin.
- When you withdraw funds over exchanges to credit cards. Debit cards can also be a target.
- Even though you don’t mention names during transactions, someone can still track the information and link it to your real life.
Can you make bitcoin anonymous?
There are several ways you can transact bitcoin without anyone being able to track you. With these tips, no one can get to you.
- Use secure services like VPN to encrypt your IP address. You can also connect to the internet using the TOR search engine.
- For every transaction, generate a new address.
- For goods that need a physical address of delivery, avoid paying in bitcoin.
- Work with Bitcoin mixers.
Bitcoin mixers are third party developers that have come up with ways to shield transaction information from leaking. They are not related to the Bitcoin network, which makes them very secure. They act as mediators who mix the transactions, then send it to the wallet of the recipient.
This is the most popular way to go incognito. The amount of Bitcoin you may wish to send is divided into parts to make it anonymous, the send to other accounts. A similar amount is send back to your account.
There are certain applications found on the DarkNet one can also use to perform anonymous BTC transactions. But you should be careful how you use these sites.
How to use the mixer sites
The interface of most sites is pretty much similar. In this case, we are going to use Bitcoin Mixer
- Go to the official site of the resource and create a new transaction.
- You will be prompted then enter the wallet address you want the Bitcoin to send to. Give a specific number and how long you want the delay to last.
- Fill in the captcha (this is a rule).
- Choose a sending method for the service account.
- Save a special guarantee letter as confirmation.
Even though the BTC network is not anonymous by default, these resources can help you make secure transactions. Bitcoin mixers make anonymization possible, as seen above. Just be sure to pick a reliable one.