Bitcoin Payment: Questions continue to arise regarding anonymity on crypto transactions.

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Investing in Bitcoin, the oldest and most popular cryptocurrency, what remains a secret?

Is there any transparency in investment?

People often ask these questions about cryptocurrencies, which are also valid.

Cryptocurrencies have become a popular investment option in the last one year.

In particular, cryptocurrencies such as bitcoin, ether and tether have shown tremendous growth.

Many people still think that bitcoin transactions are anonymous, that is, the information about its transactions remains secret, but how true is this fact?

Let's first take a look at what Bitcoin itself had to say:

Bitcoin states on its website that all its transaction information is publicly stored and permanently on its network.

That is, anyone on this public network can access information like balance and bitcoin address of any transaction.

However, the company states that the identity of the investor behind this address is protected, it is not made public, this information comes out only at the time of purchase. 

It is said on the website that it is important that you use a bitcoin address only once because you will have to take precautionary measures in order to be responsible for your privacy. 

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More Transparency


Ben Wise, co-founder and COO of bitcoin ATM operator company CoinFlip, said in June 2021 that while many people think that bitcoin transactions remain anonymous or cannot be traced, they are actually virtual currency processes. Contains wrong information about

Speaking in a webinar on digital assets, he said that bitcoin is not anonymous, if it has to say something like this, then it can be called pseudo-anonymous at most. 

Explaining the reason for this, Vice said that no one can buy bitcoin in large quantities without KVIC, ID or driving license.

He explained that the suspicion of bitcoin being anonymous stems from the belief that it is illegal to deal in cryptocurrency and therefore it hides the identity of the trader.

According to Business Insider, he said that in fact, bitcoin investing has more transparency than our current financial system.

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Public Ledger


Not only bitcoin, some private cryptocurrencies like Monero, DASH and Verge are also traceable to some extent, that is because every transaction in the crypto ecosystem is recorded and everyone can access it. .

This public ledger contains information about the amount, timing of transactions and even the crypto wallets of the sender and receiver.

The simple thing is that you remain anonymous until you have not traded or made any transaction in any cryptocurrency.

As soon as you make a transaction, its information is recorded on the ledger, so you cannot remain anonymous in this investment.


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