Many people outside of the space believe Bitcoin is anonymous. It’s often described as so because you can send and receive without your name being on the Bitcoin transaction.
Even worse, the Bitcoin narrative cultivated by the media was of an currency of choice for criminals and terrorists. An anonymous, untraceable means of laundering money, that makes it perfect for criminals to wash money.
However, Bitcoin is probably the worst currency for criminals because every transaction is on an open ledger and is traceable, if you have the time and resources to do so.
The official Bitcoin website, bitcoin.org explains it best:
‘Bitcoin is designed to allow its users to send and receive payments with an acceptable level of privacy as well as any other form of money. However, Bitcoin is not anonymous and cannot offer the same level of privacy as cash.’
So if Bitcoin isn’t anonymous what is it? Read More