What is an anonymous wallet? How do they work?

Bitcoins are anonymous. But rarely would new joiners know that bitcoins are pseudonymous.

Meaning, your transactions won’t be associated with a person or an identity, but users can track your transactions using the private keys if you are careless in exposing your transactions to public view.

Bitcoins work in a way that name, physical address, or email id of an individual is not required in the transaction.

Public addresses are common in every transaction because they are alphanumeric strings that go out on public view on the blockchain network.

But if you think that just these will help you remain anonymous and safe on the wide network of blockchain, I fear you might be wrong here!

That sounds pretty scary, right?

But some options might help you remain safe and anonymous on the network, and keep your digital currency and transactions secure.

• Never let your bitcoin address get exposed to the public on the blockchain network.
• Use a new bitcoin address every time you make a transaction.
• Use wallets that facilitate you with the feature of creating a new address for every transaction you make.

These are the points you must keep in mind while making transactions from any wallet. This is how you ensure your address remains secure.

Another alternative for this is, you can start using Anonymous Bitcoin Wallets.

• Anonymous wallets are blessed with the feature of generating new addresses, in the back, for every transaction you make and help you stay protected from the potential threats on the network.

While bitcoins, is a vast topic, anonymous bitcoin wallet is even wider than it. 

It’s not only important to use anonymous wallets, it’s also important to understand all what options are available to you and what is more aligned to the features you are looking for in a wallet.

Let’s get going.

A lot of you must be eager to know how we create an anonymous wallet?

So, how do we go about creating an anonymous wallet? And how do we use it correctly, so that it yields the best results while also keeping us safe? 

Are there any specific step-by-step processes to it? 

Do not worry! 

We have you covered! 

This blog is about clearing all your doubts and giving answers to some of the most important questions you might have.

When you make transactions, traditionally via a debit card/bank, you expose your identity numerous times. Because these institutions already consist of all your personal information. They know how much you are sending/receiving and who you are sending to and receiving from.

That’s where Bitcoin enters into the climax. 

The best thing about transacting in bitcoins is it doesn’t involve a third-party channel and allows you to trade on a peer-to-peer basis.

Now, the best thing people find about bitcoins is that it is linked to a Bitcoin address, which does not contain any documents consisting of your details.

The purpose behind allowing individuals to transact anonymously was to eliminate third-party channels and protect individuals’ details. 

It’s very unfortunate that a few who use the system for their benefit and commit serious crimes take complete advantage of the anonymity provided by it.

Because, where there are positives, there ought to exist the negative aspects of it.

And as a result of anonymity, the law is not able to figure out the real identity for the transactions.

But, on a serious note, you should always consider, when attempting to buy Bitcoins for the first time, to remain anonymous. 

Because the bitcoin address is exposed for the public to view that way, the chances of getting hacked or your bitcoins getting stolen are high.

Because once someone has your address, the Bitcoins belong to them. You cannot go to court seeking help and similarly, you cannot file a complaint. 

So, understand how the blockchain network works, in-depth. 

Do your research properly and then decide on an anonymous wallet.