As bitcoin is an intangible asset, many of us have this idea in our mind that it is untraceable too. Well, to be very honest, nothing connected to the web is ever anonymous or untraceable. In one way or the other, every bit of information online can be traced, even bitcoin.
Though bitcoin does not has any person’s name or personal information linked to it, the public addresses used in accomplishing transactions are really helpful in tracing the source. Yes, it takes time to do it, but it is not impossible.
But, this is not the answer to the question, Is It Possible To Make Bitcoins Untraceable? Let’s read ahead and find out the answer!
Is it possible to make Bitcoins Untraceable?
As public addresses and IPs are the keys to traceability on the blockchain, these need to be obscured or tampered with to stop traceability. One way is bitcoin mixing.
Bitcoin mixing is just like hiding a candy among other candies of the same wrapper. As all of them are similar, there is no way one can find the original one. In the case of bitcoin, the core is to break the links.
Now, you may say that someone will find out. Bitcoin mixing, also known as bitcoin laundering or bitcoin washing, is a paid service. In this, the links between bitcoin addresses are broken to replace them with temporary ones. Sometimes, the coins are also swapped with other addresses that have the same value.
The Logless VPN
VPNs are one of the best tools to get around on the web. If you’re not able to access your favorite movie on Disney+, use a VPN. But, it is not limited to that. Using a Logless VPN can help you keep the bitcoin transaction private. How?
Well, a Logless VPN does not keep a record of your activities and encrypts all the web traffic coming to and going from your device. Moreover, a Logless VPN also uses a single IP address for multiple users. Thus, making it super tricky to track your anonymous bitcoin wallet transactions.
One thing that may backfire here is that your VPN service provider is keeping logs of your activities.
Use a new address every time
Well, if you are smart enough and know about the basics of HD wallets, you may know that you can generate as many addresses as you want to receive bitcoin. This may seem a bit overwhelming, but it is super crucial to ensure security and privacy.
When you receive bitcoin via multiple addresses, it will be tough to track your transactions, thus keeping you off the grid. Some anonymous bitcoin wallets like Trezor and Ledger Nano X allow you to generate multiple addresses.
So, Is It Possible To Make Bitcoins Untraceable? Yes, it is possible to make bitcoins untraceable, but for that, you need to be extra careful and use the techniques we mentioned above. Also, we would like to tell you that there is no harm in being a little paranoid when it comes to your security and privacy. After all, it is better to be safe than sorry!