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Things you can do to enhance your privacy when using crypto

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by COINS NEWS 92 Views

Hello everyone! I've recently made a post about KYC and I noted that the vast majority here really cares about privacy, and for good reasons. I learned that there are simple ways to increase your privacy when operating with crypto and here's a small list.

- Create a new address when you receive crypto from an exchange: for new crypto users is important to specify that you don't have to create new seed phrases to have a new address. Cold wallets often propose you a new address every time you want to receive crypto and your assets will still be "in the same place". In this way, it will be more difficult to follow funds movements with a chain explorer.

- Buy and sell with a non-KYC platform: this is a controversial point, as many CEXs nowadays basically force users to do a KYC. A possibility is to use CEXs that still don't ask for personal data; for example, Bybit allows you to do basic stuff without having to do a KYC, at least in my country.

- Use a mixer: Coinjoin or Wasabi Wallet allow you to mix your transactions with others in order to make it pretty impossible to track a single movement. Please note that this operation usually costs some fees.

- Use a VPN: a tool to crypt your personal data when navigating the Internet. Your IP address, your passwords, and your online preferences will be invisible to any company that could be interested in having those data for marketing purposes.

I would like to know if you always do the best practices to maximize privacy or if you're lazy as me and don't create a new address for every transaction.

submitted by /u/Matth3w_95
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