Wednesday, August 25, 2021

Many people get this wrong: Bitcoin is not private nor anonymous

People hear on the news that hackers and criminals use Bitcoin for shady transactions, money laundering, and to buy/sell drugs.

In reality, every transaction you make is public in the Bitcoin blockchain: everyone can see how much and when a particular wallet transferred currency.

If someone knows your wallet id (to make any kind of withdrawal or deposit with that wallet you have to share its id, yes this also includes exchange transactions) they can see every transaction you have ever made.

All exchanges are required to know your personal information, this allows the wallet you use on the exchange to be traced to you personally.

Don’t believe me?

These sites allow you to trace a wallet’s history of transactions:


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