Yes, of course, you can protect yourself or hide your wallet address. We know that bitcoin provides us the inbuilt feature to protect or hide our identity on a certain level while the other payment methods do not.
But there are many other ways to hide your identity or protecting your privacy from others, like a private Instagram profile.
Why is privacy Important?
In this digitalization, privacy is the main priority of every individual. People are tending from traditional platforms to digital platforms, and by increasing the number of users on the internet, the risk of fraud and hacking is also increasing day by day.
“If you are thinking you are living in the kind people, then you are wrong; there would be bad people around you.”
There are many fraudsters, and they are coming with new techniques to making people fool.
So, it is essential that you must be aware of these fraudsters, and it is your responsibility to protect your privacy or wallet address.
Ways of protecting your privacy
There are many ways, but in this article, we will discuss the three major ways to protecting the privacy of your bitcoin wallet:-
- Changing your wallet address
- Do not reveal in public places
- Hide your IP address
- Changing your wallet address
This is the best way to protect your wallet because bitcoin is working on the blockchain, which is auditing every single transaction and storing it on the public ledger where everyone can see the wallet address of sender and receiver and amount of transaction.
But changing the address or creating a new address of wallet will help you to confuse other people who want to check your transactions on www.blockchain.info.
Is it possible to create a new wallet address for every single transaction?
Yes, you can change your wallet address for every single transaction, but there is a condition, you must have bitcoin in your wallet up to 1 bitcoin or above. For example, if there is four bitcoin in your wallet and you want to transfer or send 0.50 bitcoin to another person, you can do it by changing your address because the other node will give you that facility for changing.
It will be hard for every person to detect your wallet address; you are using different addresses for every single transaction.
- Do not reveal it in public places
If you want to protect the privacy of your wallet, you must be careful of this step. Do not reveal your bitcoin wallet address in public places. Each and every person uses social media platforms like Facebook, Instagram, LinkedIn, Pinterest, YouTube, Blogs, What’s App, Twitter, Snapchat, and many other social media platforms, and many people reveal their wallet address to their followers or social media users since bitcoin provide us the platform to track bitcoin transactions, so people can look at your previous and recent transaction, it means you are revealing your privacy by yourself.
To keep it secret, do not talk about your wallet address whether you are in a physical public place, i.e., in a friend circle or relatives, or in digital public places like social media platforms.
You can use the first method to protect your privacy by changing the address of your wallet, and the second method is also mandatory with the first way if you really want to protect the privacy of your bitcoin wallet address.
- Hide your IP Address
IP address stands for Internet Protocol which means the address of your node that you are using for suffering the internet. Every transaction is storing on the bitcoin platform, and it is a peer-to-peer network.
You can use other browsers which is privacy protected, such as Tor Browser and many other browsers you can use for protecting your privacy. You can also use VPN, and with the help of a VPN, you can change your IP address to hide your transaction location.
From the above information, you have learner four methods to protect your bitcoin privacy through website like bitcoin trader . The first easiest way for protection is always changing your bitcoin address for each and every transaction. The second is do not to share your wallet address in digital and physical places, and the third is using a safe browser or VPN for hiding your IP address or Location.