5 Ways to Keep Bitcoin Transactions Private

By September 23, 2020No Comments
Ways to Keep Bitcoin Transactions Private

Bitcoin is a pseudo-anonymous, which means that all transactions made using the cryptocurrency can be traced. The transaction graph for BTC is public.

This means that anyone having proficiency regarding dissecting private and public cryptocurrency addresses can club them together. And link them to email, IP addresses, and social media accounts of users. 

Apart from this, there are a lot of other ways to trace your bitcoin activity. But there are a few tested methods that can help you make your BTC transactions private.

Use New Addresses To Receive Bitcoin Payments

As per bitcoin.org, as a user you should always employ the use of new addresses every time while receiving BTC payments. On top of this, to maintain privacy in bitcoin transactions, you can consider using multiple wallets.

By doing this, you would effectively isolate all your BTC transactions. This would make them difficult to be associated with each other. Bitcoin.org impresses upon this method as the most important one to make BTC transactions private. Why?

Folks who send you funds through bitcoin won’t get a clue about your other BTC addresses and what you do with them.

Mask Your IP With Tor

It is quite possible to listen to the relays of your bitcoin transactions. Also, the same can lead trackers to log the IP addresses of the devices that you may have used to make your valuable BTC transfers.

There is a solutions for this. You can go private for conducting a bitcoin transaction. Preferably with a tool like Tor. This will hide your IP address and make your BTC activity less vulnerable to be tracked.

Also, you can become a full node in the bitcoin network. As a full node client, you would be able to relay all the transactions, which would make it extremely difficult to pinpoint a particular bitcoin transaction worth a particular value that you made.

Use BTC Mixing Services

A bitcoin mixer can prove immensely helpful in hiding your bitcoin transaction activity or in breaking traceable links to your BTC addresses.

How does mixing achieve this? By receiving and sending back the same value of bitcoin using independent BTC addresses. Also, there is a provision of interchanging bitcoins (BTC addresses) having the same value. The video below will explain it better.

But there are risks associated with bitcoin mixing. Listen to Andreas Antonopolous discuss them in the video below:

Never Post Your Public Bitcoin Address on Public Forums

As a responsible bitcoin user, you should refrain from making your BTC address public. Also, you must never share information pertaining to your bitcoin transactions and purchases made if any using BTC. This could lead someone to identify your bitcoin addresses.

Also never reuse the same bitcoin address again and again. Reusing BTC addresses will highlight you as an active bitcoin user and could make you a potential target for hackers and online robbers.

If you have no choice but to make your bitcoin addresses public (to receive payments) make sure to use mixing or Tor as mentioned above. To remove any trace or proof of your Bitcoin network usage.

Leverage A Logless VPN For BTC Payments

The thing with logless virtual private networks is that they don’t store your browsing history on their servers.

A logless VPN network encrypts all packets of information sent from your computer/phone and routes it through multiple servers (selected by you) situated in different locations before delivering them at the destination.

In some cases logless VPNs provide the same IP address to multiple users thereby making it difficult to pinpoint and trace the online identity of a particular individual.

However, you have to ‘trust’ the VPN service provider to not log your bitcoin transaction activities.

Also you can download the app and Start Trading Now!

Android App – Bitcoin Exchange

iOS App – ‎WazirX

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