For Bitcoin, and especially in today's world, privacy is important. Blockchains are public, but, herein I describe steps and services that can help safeguard your Bitcoin and Crypto investments and protect your personal information.
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Use a VPN: A Virtual Private Network (VPN) encrypts your internet traffic and hides your IP address, making it more difficult for others to track your online activity. This can help to increase anonymity when buying, selling, or storing Bitcoin. Popular VPN services include NordVPN, ExpressVPN, and ProtonVPN.
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Use an anonymous email address: When creating accounts on cryptocurrency exchanges or wallets, use an anonymous email address that is not linked to your personal information. ProtonMail and Tutanota are popular email services that offer end-to-end encryption and anonymity.
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Use Tor: The Tor browser can be used to browse the internet anonymously and access websites that are not available through normal web browsers. This can be useful when accessing cryptocurrency exchanges or wallets that require verification. However, be aware that some exchanges and wallets may block access from Tor.
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Use privacy-focused exchanges: Some cryptocurrency exchanges, such as Bisq and Hodl Hodl, prioritize user privacy and do not require verification or personal information to use. However, these exchanges may have lower liquidity and higher fees than mainstream exchanges. Bisq is a decentralized exchange that allows users to buy and sell Bitcoin and other cryptocurrencies without a central authority. Hodl Hodl is a peer-to-peer exchange that allows users to trade Bitcoin without the need for identification.
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Use privacy-focused wallets: Some Bitcoin wallets, such as Samourai Wallet and Wasabi Wallet, prioritize user privacy and offer features such as coin mixing and transaction obfuscation. These wallets can help to increase anonymity when sending or receiving Bitcoin. Samourai Wallet is a privacy-focused mobile wallet that allows users to send and receive Bitcoin anonymously. Wasabi Wallet is a desktop wallet that uses coin mixing and other privacy features to enhance user anonymity.
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Use a hardware wallet: Hardware wallets, such as Ledger and Trezor, are physical devices that store private keys offline and require a physical button press to confirm transactions. This can provide increased security and anonymity when storing Bitcoin. Ledger is a popular hardware wallet that supports a variety of cryptocurrencies, including Bitcoin. Trezor is another hardware wallet that supports Bitcoin and other cryptocurrencies.
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Use multiple addresses: When receiving Bitcoin, use multiple addresses to obfuscate the amount and origin of the funds. This can make it more difficult to track your Bitcoin holdings and transactions. Many Bitcoin wallets, including Samourai Wallet and Wasabi Wallet, support multiple addresses.
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Use a mixer: Bitcoin mixers, such as CoinJoin and Whirlpool, combine multiple transactions to obfuscate the source and destination of funds. This can help to increase anonymity when sending or receiving Bitcoin. However, be aware that using a mixer can raise red flags and may be viewed as suspicious activity. Wasabi Wallet includes a built-in coin mixer called CoinJoin. Whirlpool is a coin mixer that is compatible with several Bitcoin wallets, including Samourai Wallet and Wasabi Wallet.
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Use cash: Buying Bitcoin with cash, through services such as LocalBitcoins or Bitcoin ATMs, can help to increase anonymity by avoiding bank transfers or credit card payments. However, be aware that cash transactions can be risky and may require meeting strangers in person. LocalBitcoins is a peer-to-peer platform that allows users to buy and sell Bitcoin with cash or other payment methods. Bitcoin ATMs are physical machines that allow users to buy and sell Bitcoin with cash.
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Use a pseudonym: When buying or selling Bitcoin on peer-to-peer platforms, such as LocalBitcoins or Paxful, use a pseudonym or nickname instead of your real name. This can help to increase anonymity.
Here are some hyperlinks for methods I mentioned earlier to increase anonymity when buying, selling, or storing Bitcoin:
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VPN services: NordVPN (https://nordvpn.com/), ExpressVPN (https://www.expressvpn.com/), ProtonVPN (https://protonvpn.com/)
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Anonymous email services: ProtonMail (https://protonmail.com/), Tutanota (https://tutanota.com/)
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Tor browser: https://www.torproject.org/
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Privacy-focused exchanges: Bisq (https://bisq.network/), Hodl Hodl (https://hodlhodl.com/)
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Privacy-focused wallets: Samourai Wallet (https://samouraiwallet.com/), Wasabi Wallet (https://wasabiwallet.io/)
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Hardware wallets: Ledger (https://www.ledger.com/), Trezor (https://trezor.io/)
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Multiple addresses: Samourai Wallet (https://samouraiwallet.com/), Wasabi Wallet (https://wasabiwallet.io/)
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Bitcoin mixers: CoinJoin (https://academy.binance.com/en/articles/coin-mixing-and-coinjoins-explained), Whirlpool (https://samouraiwallet.com/whirlpool)
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Buying Bitcoin with cash: LocalBitcoins (https://localbitcoins.com/), Bitcoin ATMs (https://coinatmradar.com/)
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Using a pseudonym: LocalBitcoins (https://localbitcoins.com/), Paxful (https://paxful.com/)
Not Investment advice. Do your own research. Good luck out there.
