One of the major factors that people do not compromise on in the digital world is privacy. In our world today, sensitive data breaches are becoming increasingly common and large technologies are deploying more and more sophisticated methods to harvest the data about their users. For all of these reasons, internet users need to do all they can to stay anonymous. It is also the reason why people that own bitcoin continue to look for innovative ways to complete their bitcoin transactions anonymously.
When cryptocurrency first gained ground in the world markets, people could easily buy BTC (Bitcoin) without the fear of having their data exposed to the world. Government regulations had not yet been put in place to curb this new online currency. In fact, most financial and government institutions couldn’t predict how fast and potent bitcoin take up would become. All this implied that financial regulations that demand that institutions know their customers hadn’t yet been implemented on cryptocurrencies.
Currently, the popularity of Bitcoin has reached almost every continent in the world. However, it is also evident to almost everyone that there is nothing anonymous about Bitcoin technology. In fact, it is commonly referred to as a pseudonymous form of online exchange.
WHY SHOULD I PURCHASE BITCOIN ANONYMOUSLY?
Every transaction carried out on every Bitcoin platform is documented on an online ledger stored in a set of blocks called a blockchain. This ledger is easily accessible to any Bitcoin user that is registered on the network. Records of the amount of bitcoin sold, the amount of bitcoin received and the address of the sender, as well as the receiver, are documented on this ledger. Check this website to learn more.
The physical address and identity of the user may not be publicly disclosed to others. However, skillful hackers can easily trace the identity of the bitcoin owner by using the IP address that is documented on the ledger. This exposes the owner of the bitcoin account to several risks. This clearly highlights the importance of purchasing bitcoin anonymously.