Choose the Best Anonymous Wallet to Keep Your Freshly Tumbled Bitcoins Safe

Anonymous Wallet

Choosing the Best Bitcoin Tumbler you can find is only half of the job. You also will need the best anonymous wallet to keep your coins laundry fresh for longer.

Almost 32 million bitcoin wallets are in existence as of December 2019. However, there are only an estimated 7.1 million active bitcoin users. So what gives? Well, chances are many users are working to protect the anonymity of their bitcoin.

Protecting the true anonymity of your bitcoin holdings is a two-fold process. First, you have to find yourself the best bitcoin tumbler that you can come by and second, you have to get an anonymous wallet. The second your wallet address is connected with bitcoins, you are connected to those coins. Any personal information, purchases, or transactions that you have assigned to that wallet address is public and forever placed within the blockchain ledger.

This means that if you make multiple transactions with the same wallet address, these transactions can, and will, be traced back to you. Completely destroying the anonymity that bitcoin hopes to offer. This doesn’t mean that you have to be caught up in black market dealings to want to have an anonymous wallet. Anyone who owns bitcoin should indeed want to protect their own identity and assets. As well as the founding principal of bitcoin itself.

How a Wallet Address Can Destroy Your Anonymity

When bitcoin first came about, founder Satoshi Nakamoto, made a proposal for a novel currency and ledger technology that would keep your financials private and outside of the hands of a centralized authority. Unfortunately, as bitcoin began to gain popularity, it also started to pique the interests of governments and powerful corporations.

As more people began to take an interest in bitcoin, analytics groups figured out a way to trace bitcoin spending habits and transactions. They used the wallet addresses and the frequency at which they appeared to trace transactions and follow purchase history and patterns.

From these analytics, they could easily discover which wallets had large holdings and were used often. And because of this, it wasn’t incredibly difficult to find ways in which to associate those wallet addresses with personal details like names, addresses, or even social security numbers.

From this information, governments can gain access to information on your personal holdings. Coming after you for taxes you may not even owe, or jail time for convictions that shouldn’t legally exist.

How to Protect Your Bitcoin With an Anonymous Wallet

Anonymous wallets are a must-have if you own any bitcoin. Any wallet that you set up should be free from personally identifying details. You shouldn’t add your name, address, or bank details if you can avoid it.

That being said, the second you use that wallet in conjunction with personal details, shipping invoices, purchase details for buying bitcoin; are you supposed to just trash that wallet you’ve just spent so much time setting up?

Yes. Unless it’s a truly anonymous wallet. There are wallets that exist that help keeps your information safe, and help you steer clear of blockchain analytics that could put your security and anonymity at risk. With protections against meta-data and address clustering, these wallets are specially designed to keep your purchases under wraps.

One of the best on the market today is the Samourai wallet. The company says “we are privacy advocates who have dedicated our lives to creating the software that Silicone Valley will never build, the regulators will never allow, and the VC’s will never invest in. We build the software that Bitcoin deserves.” Giving an added boost of confidence in their work.

Even if you do choose a higher-tech anon wallet, you’ll have to stock it with clean coins before you take it online. It´s known that even the best wallets can still be traced against dirty bitcoins. Even if it’s not you who got them messy in the first place. Blockchain analytics make it possible to tie dirty coins with clean users. Yet another reason bitcoins anonymity is failing.

Anonymous Wallet: Using the Best Bitcoin Tumbler for Your Wallet

Once you have your wallet setups all figured out and streamlined, it’s time to get some clean coins. If you already own some bitcoin but haven’t had the chance or the knowledge to clean them yet. Now is the time. For extra security, put together a “to be cleaned” wallet. This wallet should be anonymous, and you should transfer your existing coins into it.

From this new wallet, you can then deposit the coins into whichever bitcoin mixing service fits your needs best. There are a number of really great bitcoin tumblers available, so sniff around a little to find the best one, before you make a deposit. Once your coins have been deposited into your chosen tumbler, ditch the “to be cleaned” wallet.

Most of the best bitcoin tumblers have a super quick turnaround with clean coins. This is why it’s so important to have your anon wallets set up and ready to go before you decide to clean your bitcoins. Once you get those laundry fresh coins from the mixer, then all you have to do is direct your tumbling service to place them in the wallets that they’re destined for.

Most tumbling services allow for deposit into more than one wallet. Some even offer delayed deposit services, to further reduce the likelihood that blockchain analytics can snap up your trail. Take advantage of these perks as often as possible. Keep the majority of your cache in an offline wallet. Only transfer what you need, when you need, to your online collection of anon wallets.

This ensures that your coins and your name will always stay clean.

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