When it comes to bitcoin transactions or any other topic involving cryptocurrencies, the first thing that comes to people’s mind is the safety matter. Whether because it’s a new reality for many or any other reason, this practice is still a sensitive topic that is often negatively seen by those who don’t understand it.

People refer to blockchain technology as money laundering and many other stereotypical things when, in fact, it is a transaction like any other. Due to the numerous rumors around, people often ask themselves whether these operations are anonymous and how to make them. 

If you’re an enthusiast or just want to learn more about the topic, this article is for you. We will show everything you need to know about cryptocurrency exchanges, including how private they are and how to safely add funds to your wallet address.

Make sure to follow all steps carefully to understand the process and avoid any problems with your private keys or any other aspect. But first, here are some essential concepts you should know:

As previously mentioned, the world of crypto exchange is still a new topic for many people, so it is important to clarify what operations count as transactions. They go far beyond just Bitcoin addresses, and you can have a cryptocurrency exchange of numerous different coins.

Cryptocurrency transactions are any operation that happens in the blockchain and regards any crypto movement from one account to another. Whether you’re on the Bitcoin blockchain or any other, if the operation involves sending these coins to wallet addresses, they’re considered crypto transactions.

Now it’s time to answer one of people’s main doubts regarding the crypto world. Are Bitcoin transactions anonymous?

The answer is valid for Bitcoin and almost any cryptocurrency available today. Even though these operations offer a much more secure level of privacy and anonymity when compared to traditional transaction methods, you’re not 100% anonymous.

There were already registered cases where people could trace transactions of this kind of financial activity even when using stealth addresses or an anonymous wallet. Even though these confidential transactions are much harder to trace than other types, no user is completely anonymous, so keep this in mind when trying to process transactions.

There are several allegedly private cryptocurrencies that promote 100% anonymity in all transactions. It is vital to understand that, as proved by the US government, it is almost impossible to have completely anonymous operations.

There are lots of currencies that offer extra features to protect users’ identities. Still, even those are traceable to a certain level to prevent suspicious transactions, compromising the promised user anonymity.

The same works for anonymous wallets. Even though there are several options with great features that protect the user and dismiss the participation of financial institutions in the process, they can be traced in case of any illegal activity.

The most secure option is to have a hardware wallet. It is a physical device that saves all your private keys and important information. Since it is not connected to the internet, people from the outside can not access data such as IP addresses and user keys.

Even though there’s no such thing as untraceable cryptocurrency, multiple users still prefer them over traditional money operations. There are several reasons why you should also consider this option. Here are some of the main advantages of using a crypto address for your monetary operations:

Privacy Features

Even though they’re not completely anonymous, crypto operations are still the safest way to do your transactions. The same works for digital assets. They are considerably safe to transfer and preserve important data regarding the users' privacy, like their public address.

Different methods are not entirely transparent regarding how the operation is happening and who’s taking care of it. Plus, in traditional operations, you’ll need to provide your real-world identity, making it easier for people to track you.

On the other hand, anonymous cryptocurrencies might not be perfect, but they do dismiss the need to present such information. This makes it much harder for banks and other financial institutions to track your transaction history.

Third-Party Involvement

One of the best parts of using the Bitcoin network or any other crypto blockchain is dismissing third-party involvement. On other transactions, you’d need someone mediating and authenticating the operations, but here, the process happens only between you and the other user.

This adds more security to the operation and stronger privacy. Dismissing third parties doesn’t mean you have to be an expert in the subject. Even with zero knowledge about blockchains, you can still do BTC transactions and preserve your true identity from others.

Lower Transaction Fees

Another reason many people like doing crypto transactions over traditional ones is the more accessible fees. Digital coins usually have much smaller fees when making any payment or purchase, different from dollars or euros, which can result in enormous fees depending on the activity.

Even though some coins have a massive value, like Bitcoin and other cryptocurrencies, the fee is proportional to the amount being transferred, so you’ll pay a fair price when making your payments. Thanks to this, more and more businesses are accepting crypto as a payment option for their products and services.

We know you can’t completely anonymously make Bitcoin transactions or any digital payment without leaving traces, but there are several ways to make these operations safer. One of them is through Ring Confidential Transactions. 

A RingCT works like a traditional operation but hides the transaction amount sent to the user. This helps keep your data private and hidden from Bitcoin explorers looking for targets and breaches.

RingCT works by authenticating the amount sent and seeing if it matches the one received by the user. This way, you can see the Bitcoin address to which you sent the payment but with the official amount hidden. Once the ring signatures authenticate the values, the transaction gets approved.

Why Is a Ring Confidential Transaction Safer

Hiding the amount being transferred isn’t enough to keep a user safe and its data anonymous. RingCT is a popular technology among crypto users because all traded values must pass through the Ring signature system.

This system makes it much harder to trace the users involved because it obscures the destination of the funds with the help of a stealth address. If you don’t want the government or criminals to easily track your operations, RingCT should be a standard for your activities.

One of the reasons for most crypto activities being considerably safer is that, even though they’re not anonymous, most blockchains give users pseudonyms. This helps preserve their privacy and makes operations harder to track. It is almost like a VPN for crypto.

Most blockchain explorers will find this feature when trading or transferring assets, whether you’re using Ethereum, Bitcoin, or almost any other coin. But what do these pseudonyms do?

The main objective is to give the user a “fake ID,” so when authorities or any person tries to reach the transaction's destination, they won’t be able to find the right person. This allows you to make all the operations without exposing your real name or sensitive data.

Even though this increases security to a high level for the community, it is not failure-proof, and with the right tools, the government can identify the real person.

This is one of the main reasons why the dark web market operates almost entirely with crypto transactions. People can easily make purchases and don’t need to reveal information that might lead to them.

Even though many people prefer this kind of operation thanks to the extra privacy layer, the blockchain’s main principle is transparency. Crypto anonymity goes against that idea in every way. We have many features to help preserve anonymity, but all of them were added as extra features by the engineers of each blockchain.

Undoubtedly, these additions are what many people look for when choosing crypto over traditional transactions, so going back to the 100% transparent system seems almost impossible. The technologies featured in Bitcoin and any other cryptocurrency on the market are evolving daily, and it’s just a matter of time until these operations become completely anonymous.

The market is growing faster than ever, and so does the development of new technologies. It is surely good to invest in it and wait for what the future holds for the blockchain universe.

You can add funds to your crypto wallet and use them in several ways. From transferring from one account to another to mining them, each one requires a different procedure and knowledge.

Among all the options, adding funds through a crypto voucher is the easiest and guarantees more privacy than the other methods. If you don’t know where to get them, we've got you covered.

RoyalCDKeys offers crypto vouchers from all price ranges to ensure you find the perfect one for your budget. Moreover, we accept multiple payment methods, including credit cards, so you don’t have to worry about other details and can pay however you want. Since we offer a variety of services and keys, your purchase won’t be highlighted as crypto or anything like that, ensuring your anonymity and making it safer.

One of Crypto Vouchers’ main perks is that it dismisses the need for KYC, so every purchase you make doesn’t need ID or any other official identity. If you want the best when it comes to privacy, make sure to check them out.

After purchasing a voucher, you simply need to visit cryptovoucher.io, redeem your code, and select the wallet to which you want the funds to be transferred. Undoubtedly, it is the safest and most accessible way to buy crypto quickly.

Cryptos are an undeniable reality when discussing new transaction methods, but since it is a fairly recent technology, there are still many doubts regarding the topic. One of the most asked questions is anonymity, and as you can see, being 100% anonymous isn’t a reality yet.

Still, Bitcoins and other cryptocurrencies are a great choice and one of the safest ones, offering numerous features to help preserve your identity and privacy. But to start investing in this method, it is crucial to understand its basic concepts, like what a public key is, what zero-knowledge proof means, and many other aspects.

Now that you know everything you need, it is time to start setting your account up and adding funds for your monetary operations. Remember that crypto vouchers are the safest and easiest way to buy Bitcoin, and RoyalCDKeys offers a series of payment methods to find the best one for your needs.