Saturday, September 12, 2020

Questions About Monero Anonymity and Privacy

Hi! I am new to the Monero community and I am trying to figure out how this all works. I have tried reading online guides and explanations but I am still a little bit lost about some of this. Specifically, I want to know how Monero is private insofar as it relates to us purchasing the currency through non-private means.

Specifically:

1) If I set up a Monero wallet and then purchase Monero either by using a credit card (with my name on it) or BitCoin (with the public ledger/blockchain and with an exchange having logged my personal information), how does Monero "hide" my identity? Isn't the fact that I purchased the Monero with currency/account/credit card that is linked to my real world identity compromising it?

2) Say I want to make a confidential online purchase through a more traditional currency, such as BitCoin, and I use XMR.to to convert the Monero to BitCoin, using a BitCoin wallet that is not linked to my real world identity (using TOR, TAILS, etc.). Won't the compromised account from #1 expose my identity when I try to use BitCoin transferred from Monero? Would I need to send the Monero to another Monero wallet and *then* transfer to a new BTC wallet, like twice over?

I guess I am trying to figure out at what point my identity is exposed using Monero and at what point my identity is hidden.

Thanks in advance and sorry for the n00b questions.



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