How to use Bitcoin Secretly
Bitcoin is a digital currency and based on blockchain technology. It is not controlled by any bank and government. Bitcoin is a decentralized currency work on peer-to-peer networking system. It provide all the information publicly. As well as it uses the cryptography techniques to secure the transaction. With these property of bitcoin it is tough to maintain the privacy. So, is it possible to send or receive bitcoin anonymously? Let’s take a discussion on this.
As we know that bitcoin use the blockchain technology. Which is a public ledger maintain the records of transaction. In this record it consist the address and amount of transits. Bitcoin can be use secretly without verification of ID. But how we can buy bitcoin without verification? CoinMama, is provide the option where you can buy bitcoin without verification process. Because it accept payment through credit card. But bank have already warned investors not to purchase bitcoin through credit card. Bitcoin price is volatile so sometime it increase or decrease.
As we know that bitcoin is traceable so it’s difficult to hide transaction. There are some methods which make it anonymous. These methods are Bitcoin Mixing, Tor- Onion Router, Joint Market and etc.
Bitcoin transaction can be accessed publicly so bitcoin mixing is used to hide its identity. Bitcoin works on distributed system so it create a link between these systems. Bitcoin mixing is create a crack between these links. In result, it will create a temporary address. Bitcoin mixing is also referred to as Bitcoin laundering, Bitcoin washing, or Bitcoin tumbling, and it is a paid service.
Another option to use bitcoin secretary via hide the proxy of your system. Tor browser is a better option to hide the proxy. After hiding the proxy it can connect you bitcoin network anonymously. Tor browser change your IP address so it will hide your location. Tor browser always work as an incognito window. An incognito window doesn’t save your cookies and history. So, it helps that NSA won’t be able to observe you.
Now a question is raised that how to connect bitcoin network with tor. Tor browser can run on different devices. When we are using tor on windows have to establish a connection between bitcoin network and tor need a standard tor port 9050and localhost 127.0.0.1. There are some more tricks like HD wallets which helps to use bitcoin secretly.
HD wallets provide the facility to change the bitcoin address. It will give you every time a new address. HD wallets like Ledger Nano S, MyCelium, Trezor etc. These wallets help to generate the receiving addresses of bitcoin as you want. Apart from bitcoin, Dash and Monero are the cryptocurrencies which offers to use it as anonymously.