okay today we are discussing about the
risks in privacy when holding Bitcoin for long time. in fact many times you
read that Bitcoins are anonymous and the people who are talking about Bitcoin as
anonymous are also reporting that Bitcoin is used for illegal transactions
or is used for crimes and it’s clear that this is not an information, because
you know everything can be used for illegal transactions or illegal actions.
in fact also fiat can be used for crimes and money laundering and something like
this. so anything can be used for legal purposes or for illegal purposes and
this depends on you. well bitcoin is not anonymous
bitcoin is pseudonymous and this means that transactions are publicly reported.
in fact of the blockchain is a public ledger and so anyone can go and see into
the blockchain transactions informations also addresses informations and anyone
can check transaction can correlate the transaction each other, etc. what is
not reported on the blockchain is the identity connected to each address or
each transaction so it’s clear that you have to be very careful with your
privacy because many times for example you purchase from kyc exchanger and
you are providing to this exchanger your ID card or your address and your
personal informations. for this reasons the exchanger is always able to connect
your identity to your transactions, is able to store your informations and to
correlate your informations to your transactions. moreover when you execute a withdraw transaction then this transaction is
obviously connected and correlated to your ID and the KYC knows of this
information. for this reason you have to be very careful with your privacy:
why? because you don’t want that your informations, that your identity, that
your balances are public accessible because for example with your bank
account you don’t publish your bank statement, you don’t publish your
balances it’s normal. for the same reasons you want to be in privacy also with
your bitcoin. so it’s obvious that it’s better to purchase Bitcoin
in cash whenever the seller is not asking for your ID and your documents so
when it’s possible purchasing in cash is better. or you can also, if you are a
professional working in any field, you can also invoice and get payments in
Bitcoin this is a good way to get bitcoin for your work for example and okay
if you have no other ways to get Bitcoin you have to use an exchanger and the
exchanger is a kyc exchanger in the most of cases. in these cases you should be
very careful when you withdraw your funds: you should put in place some
technique in order to be protected in privacy. for example coinjoin or for
example using onion network to connect to the network and
signing transaction and something like this here in the description I will
leave you a link and you can follow this link in order to get a
document that I prepared with many informations, many tips in order to have the
maximum privacy when you’re dealing with your Bitcoin. so at the moment check
out this document and we will do in the next moments another video with
additional informations regarding privacy. privacy is a human right, you
have to be very careful with your privacy, you have to put in place
everything you can in order to get your own maximum privacy.