How to Enjoy Privacy With Crypto

These days, many of us are more conscious about our privacy and are looking to protect our Data online. After scandals like Cambridge Analytica, many of us are more aware of how our information can be misused and are looking to protect it.

If you are particular about your privacy, you might want to consider cryptocurrency. Based on distributed ledger technology, cryptocurrency is a form of currency that is issued by private entities as opposed to governments and can be a major way to avoid giving out your sensitive information online. Here are a few ways to protect your privacy with cryptocurrency.

Use Blockchain-Focused Platforms

Blockchain, by its very nature, can be used to preserve privacy as wallets can be opened anonymously, tokens can be sent without confirming identity, and so on. So, your first step should be finding a blockchain-based platform for whatever need you’re trying to meet. Take gambling, for example. Usually, you’d have to provide your government ID, name, bank details, and so on. But if you use a blockchain casino, you can essentially gamble with complete privacy. The best no-KYC casinos for crypto users only need you to connect your crypto wallet to begin playing, and to do this, you don’t need to provide any sensitive details.

The same applies to other things, such as lotteries, insurance platforms, and the general DeFi space.

Use Privacy Tokens

While cryptocurrencies are already very privacy-centric, there is a niche of tokens that go even further. dubbed privacy tokens, assets like Monero and Zcash are completely untraceable. Where funds originate from and are sent to cannot be tracked even on the blockchain, and thus, the identity of users is completely anonymous. Privacy tokens can be obtained as easily as any other token from exchanges and other trading platforms. By using privacy tokens as your main cryptocurrency, you can trade, spend, and send funds with ease while no one is the wiser.

Use Coin Mixers

While cryptos are generally private, a very determined individual could trace the movement of a token from one wallet to the other. After all, this is the entire basis of whale watching, which sees crypto wallets with huge deposits of tokens monitored by others. The good news is that there are coin mixers which will, as the name implies, mix a bunch of tokens so that the origin and destination are much harder to track. If you’re moving larger amounts of crypto and want to protect your privacy or simply want your crypto dealings kept to yourself, you might want to use a coin mixer. At the same time, make sure you avoid coin mixers that have faced government sanctions, as has happened in the past.

Use Zero-Knowledge Proof Platforms

Blockchain, the technology behind cryptocurrency, can be used for zero-knowledge proof confirmation. This means that computer networks can confirm certain information about a user without actually revealing the information. An example of this is confirming that an individual has a high enough credit score to access certain services without actually revealing the credit score. Prioritizing businesses that use zero-knowledge proof can also be a great way to remain private.