Why is Bitcoin Not Traceable?

A big controversy inside the cryptocurrency market is if the big brother, the Bitcoin, is traceable or not. The theory that bitcoin is traceable or not begins because some criminal situations and this cryptocurrency were related in the past. First of all, Bitcoin is totally traceable unless you don’t want it like that.

The first thing you need to know is that every Bitcoin transaction is stored in a public archive called the blockchain. The data that is stored includes, principally, bitcoin payment amount and both bitcoin address from the sender and the recipient. Why does this happen? Every prior transaction where are involved bitcoins is traceable and can be viewed by anyone.

On the other side, Bitcoin addresses are not linked to a person or entity, that’s why it is often called pseudonymous. Anyway, a Bitcoin address can be associated with a person’s identity through other methods, at the moment that this association happens, it’s possible to access to every transaction backward and forward from that person through the blockchain. Usually, this happens because people made the mistake of publishing their names together with their Bitcoin address online. It is important to know that for being anonymous, at the moment that you use Bitcoin, you must need very careful because every information glitch can reveal your identity.

Nevertheless, some people appeal for applying other methods for keeping their identities in the dark. The easiest procedure is using a different address for every incoming transaction, it works as simple as create a new address to receive each payment for avoiding the balance of your Bitcoin wallet.

In conclusion, Bitcoin can be anonymous as long as you stay alert of every procedure that links the wallet to your identity. Also, if there are some transactions linked to your name, the best advice is to start a new wallet dedicate to use it anonymously and keep it unlinked of your regular wallet to guarantee your anonymity.

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