For example the Wasabi wallet is a privacy focused wallet, that automagically sets up Tor for you, for network anonymity and provides an easy to use interface for CoinJoins (for cleaning/washing/tumbling coins). Having your own wallet not only gives you more privacy and security, but can also gives you more options. In Bisq there’s currently not much liquidity, so expect to lose a bit of coins ( ~2-5% at the time of writing). This is also why DEFI (decentralized finance) could be so revolutionary and why decentralized exchanges should be used if your aim is privacy. If you keep your funds in your exchange wallet, you have no hope of ever anonymizing your Bitcoin (we’ll get to that later). Not only that, chain analysis companies and software are a real thing. Bisq, locally acquiring coins) has KYC/ AML requirements, by law. (If you purchase with the link, I get a bit of revenue which helps a lot)Įvery single exchange that is not p2p (e.g. Probably the best you can do for your crypto security is getting a hardware wallet, I can highly recommend the Trezor Model T, which is stellar and fully open-source. Also if an investigation into an exchange gets launched, your funds might get frozen. Well, as it turns out exchanges being hacked is quite a common occurrence, do, I, need, to, keep going? Anyways, you get the point.īesides external risks, the actual exchange company owners have the keys to your keys and have every incentive to get them. Now, you might say, an exchange probably has better security than I ever will, therefore it’s safer to just let their engineers take care of it. This means your coins are not in your custody and belong to the exchange. Whenever you use your exchange to transfer funds (or store them) you are relying on them to keep it safe. Antonopoulos Security #Įxchanges don’t actually allow you to see your keys (a seed phrase phrase being one form of key combination). “Not your keys, not your coins” - Andreas M. The setup I will describe will allow you to connect to your Electrum wallet from any supported Electrum clients (Win/OSX/Linux/Android at the time of writing) through a secure and private connection, remotely. This is the first post in a series to reclaim your privacy, autonomy, sovereignity and independence of your coins. Let’s fix this mess… Recommended article on Bitcoin privacy. So you bought some bitcoin from an exchange, and your privacy is violated… You can practically hear voices coming from the dark corridors of the NSA, throbbing through your ears…
0 kommentar(er)
