Is Bitcoin anonymous?

Is Bitcoin anonymous?

Bitcoins are one of the cryptocurrencies that were created for the purpose of anonymous transactions in mind. Nakamoto Satoshi the creator of bitcoins, invented them by considering making a transaction that is without any third party involvement. When you transact your national money using traditional payment systems, your government and authorities have the ability to see how much money you are transacting to whom.

Moreover, you need to pay some money as tax to the government and it is depending on the money that your transaction holds. That is with the transaction of traditional money there will be involvement of the government bodies and banks. But when you use bitcoins to money your payments, there will be literally no third party service in between the sender and receiver.

This way, you will be able to send any amount of bitcoins to anyone and also since you are using public address as an identity instead of your personal details, no one can know that you are the person you are using cryptocurrencies. As personal identity is not given in bitcoin payment, you will be anonymous and your identity is not known to anyone.

Thus you are allowed to send as well as receive any amount of bitcoins to and from anyone who has your public address. Once you have decided to transact bitcoins you must need a digital wallet, this way you can use these currencies. Because of the bitcoin price, more individuals are interested to use this as a mode of payment. Even you are thinking to make more money in a short time, you can definitely make use of this technique.

You do not need to give any of your personal details to anyone to get this bitcoin wallet and thus your bitcoin transactions can be achieved easily and anonymously.

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