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Is Bitcoin really anonymous ?

By Gotama (Kushu Creator) | Kushu Token | 25 Apr 2021


The basics

The Bitcoin "anonymity" concept is probably not the one you think! The guy who told you that bitcoin is anonymous isn't completely right, but it's not completely false either. Let's talk about it more deeply. 

Blockchain explorer

For those who don't know that, bitcoin keeps a trace of all transactions ever made on the BTC blockchain, it means that, every transaction can be seen by everyone who know your wallet address! Not really hidden, right? Again, Yes and no at the same time... It's obvious that if you are doing some bad stuff on the dark side of the internet, and that you are doing everything from home without knowing anything about cybersecurity, the feds could knock your door at six in the morning. 

Mainstream exchanges

Nowadays, trusty non KYC exchanges are really rare, almost everybody use mainstream exchanges, but how can we talk about anonymity when you share your ID, your bank account, your phone, your email with anyone? Well, we can't! The purists will say that, it's possible to stay a bit under the radar even if you bought BTC on a KYC exchange, let's talk about it right now. 

Bitcoin mixers 

In overall, a bitcoin mixer will make the life of feds a bit harder, I mean, it's a program that allows you to make multiple transactions between a lot of addresses you don't own. You will have to send your funds to a certain address and enter an exit wallet (the wallet adress that is not linked to your name/ip), the BTC mixer will just mix your coins with other users to hide the origines of all these coins. If you do things right, you will be a bit more under the radar. But pay attention to scams! A lot of BTC mixers are scams, so be careful and inform yourself before using one. 

Conclusion

Governments are really trying to fight money laundering these days, they have some big weapons like KYC and the average user isn't that anonymous while using BTC, but the ones who know how to proceed can stay under the radar easily.   

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Gotama (Kushu Creator)
Gotama (Kushu Creator)

Kushu Token ($KSH) Creator.


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