Avoid worrying about privacy in the cryptoverse. This guide will show you “how to keep my bitcoin transaction untraceable” with the Incognito Wallet.
Why do I need to send Bitcoin anonymously?
Bitcoin transactions are traceable
Bitcoin is rapidly becoming a bigger part of the digital world but it’s quite tricky to be completely anonymous when using this cryptocurrency.
Bitcoin transactions, by design, are not linked to a person or identity. Public addresses are used for transactions – like a bank account but with an encrypted name. Neither your name, physical address, nor email address is found anywhere in any transaction, but your identity can still be tracked down using public address information and IP tracking. For a long time making plenty of transactions, have you ever been anxious about the question “how to keep my bitcoin transaction untraceable?”.
Once addresses are used, however, they become tainted by the history of all the transactions they are involved in. Anyone can see the balance and all transactions related to any address. This is what we call Bitcoin transparency.
Since users usually have to reveal their identity in order to receive services or goods, sending Bitcoin anonymously turns out to be quite a difficult mission. As the blockchain is immutable, it’s important to note that something untraceable right now, may actually become easy to trace in the future.
In short, if you own a Bitcoin address and use it to send or receive BTC, the history of your transactions is traceable. Everyone can see your exchanges, the address of your trading partner and the amount of every transaction you’ve ever made. Have you ever thought of any tools that give you the answer for this burning issue: “How to stop people from seeing what i do with my bitcoin?”.
The risk of Bitcoin transparency
Imagine that a hacker knows your Bitcoin address. They can use that to track your balance and work out how much you have stored. What do you think they could do with that information?
The bigger this lack of privacy threat to the Bitcoin space is, the harder the answer for this question “how to keep my bitcoin transaction untraceable?” could be found. For those who value privacy, crypto assets have long come with an unappealing trade-off. Transactions are recorded on public ledgers, displaying the amounts involved and broadcasting the virtual identities of their senders and receivers to whoever wants to see them.
Regardless of cybercrime or other types of financial crime, there’s still no need to tell the world how much money you have, or how many coins you’re holding. Like your personal identity, your financial information is one of the most important things to keep confidential in this day and age. You need to be concerned about your privacy and the safety of your personal information.
All this is why Bitcoin transparency is one of the biggest motivations for the crypto community to find ways to protect privacy. So let’s look at the solution: untraceable transactions.
How to keep my bitcoin transaction untraceable?
There are many ways and methods to keep your Bitcoin transactions untraceable. Most try to avoid the transparency of the Bitcoin blockchain by hiding your real Bitcoin addresses, so that no one can track down your transactions or balance.
Over the last 10 years, the crypto-verse has come up with a variety of ways to improve security and minimize private data usage, such as Bitcoin Mixing, no-KYC crypto exchanges, private web browsers with VPNs and privacy coins.
In any case, the overall purpose is to stop people from seeing what you do with your Bitcoin and there has been a degree of success in that pursuit. Mixing and obscuring addresses definitely can work.
However, it’s still not ideal. You still have to place an element of trust in the service providers not to steal your funds and keep your login history secure. The amount of faith required to do that means that there is still a need for alternative methods.
The rise of private crypto wallets
The idea of finding the ideal answer for this question “how to keep my bitcoin transaction untraceable?” is the main purpose behind private crypto wallets. With one, you can send Bitcoin or other assets without anyone having any details of the sender, receiver or how much was involved.
The benefits of a private crypto wallet are that nobody can see your balance or track your activity on the blockchain. Obviously, this goes some way to prevent harmful attacks on your assets and as a result, you take back control. It’s liberating when you do not need to trust any entity with your personal data or transactional information.
The only real disadvantage is that private crypto wallets are relatively new on the scene. Users have already gotten used to their existing wallets, so they might find it hard to switch over. Moreover, right now, many private crypto wallets only allow users to send Bitcoin and a limited number of popular cryptocurrencies.
If you’re looking for a private crypto wallet, The Incognito Wallet is the one to go for. Based on the Incognito Blockchain, which is a privacy sidechain designed to give access to other blockchains, the Incognito Wallet allows you to store, send and receive all your crypto assets with total privacy.
The Incognito Wallet – incognito mode with untraceable Bitcoin transactions
What is the Incognito Wallet?
The Incognito Wallet is the first privacy-preserving mobile wallet for all your crypto assets. To enable privacy for your crypto, simply deposit BTC, ETH, PRV, or any of your favorite ERC20 or BEP2 tokens into the Incognito Wallet. It’s really as simple as that.
All the transaction details going forward are completely confidential. To turn off incognito mode, you simply withdraw your tokens or coins back into your other crypto wallets, which you can do at any time.
The Wallet itself is based on the Incognito Chain, which is a privacy sidechain that can be attached to any blockchain for the purpose of conducting confidential asset transfers. The Incognito sidechain runs parallel to the main blockchains, allowing for secure two-way transfers of crypto assets whenever privacy is needed.
What can I do with the Incognito Wallet?
As a crypto wallet, Incognito has all the functions you get from a regular wallet but you can also use the Incognito Wallet to:
- Send and receive cryptocurrencies completely privately. Right now, you can send BTC, ETH, BNB, TOMO, ONE and others in incognito mode. The wallet is listing more currencies all the time, so it will definitely support even more coins and tokens in the future.
- Store your assets away from prying eyes. As previously mentioned, by using incognito mode, no one can track your balance or your transactions. This is done by using a system built on zero-knowledge proofs, where the sender, receiver and amount are all obscured on the blockchain – there’s nothing traceable there.
3.Stake crypto to earn more on the Incognito blockchain. Staking POS coins is a trending function of the crypto wallet and you can stake coins directly using the Incognito Wallet.
4. Issue your own privacy token. The Incognito blockchain makes it easy for users to self-issue a privacy token, which is a definite bonus for businesses.
5. Trade crypto privately. The Incognito pDEX is the first-ever private decentralized exchange. This is where you can trade crypto in total privacy and without having to place any trust in any third party.
6. Use privacy-oriented apps. Last but not least, the pApp store is a collection of the first privacy-focused blockchain applications. You can find many interesting and awesome DApps available there.
How is the question “how to keep my bitcoin transaction untraceable” solved using the Incognito Wallet work?
Allow me to give you a simple example of how the Incognito Wallet works.
Say I have 5 BTC and all I want is to keep people from seeing what I’m doing with it; I just want to keep my Bitcoin transactions untraceable.
If I send 5 BTC to my Incognito Wallet (after downloading and installing it on my phone, of course), I can convert it into privacy Bitcoin (pBTC) at a rate of 1:1.
Now I want to send some of my pBTC to another Incognito Wallet address. The app is easy to use and intuitive, so all I need to do is input the wallet address and amount, hit send and it’s done with no details left on the chain.
Then, supposing that I’d sent 3 pBTC, I’d have 2 pBTC left. If I wanted to re-convert that into Bitcoin, it would only take a couple of taps on my screen and be done in a matter of moments.
So that’s it, Bitcoin transactions in Incognito mode. Nobody can track how many coins I sent, who received them, how much I had or how much I have. It’s great to feel secure.
As the crypto sphere has lacked privacy for a while, the need to figure out the answer for this burning question “how to keep my bitcoin transaction untraceable ?” was inevitable. Up until recently, the ways of hiding your transactions and balance had always been a trade-off. You either had to pay a lot of money for the services or had to place a lot of trust in the service providers. Thankfully, the game has changed.
The advent of private crypto wallets, such as the Incognito Wallet, means that now you can make untraceable transactions by using the incognito mode for blockchains. All you need to do is to send coins to the wallet and you can conduct your transactions with total privacy. Considering that it’s totally free and easy-to-use, it’s definitely worth checking out.