{"id":1522,"date":"2022-04-24T06:23:32","date_gmt":"2022-04-24T06:23:32","guid":{"rendered":"https:\/\/www.aurumxchange.com\/?p=1522"},"modified":"2022-04-24T06:23:32","modified_gmt":"2022-04-24T06:23:32","slug":"how-to-create-an-anonymous-cryptocurrency-wallet","status":"publish","type":"post","link":"https:\/\/www.aurumxchange.com\/blog\/how-to-create-an-anonymous-cryptocurrency-wallet\/","title":{"rendered":"How to create an anonymous cryptocurrency wallet"},"content":{"rendered":"<p><iframe width=\"100%\" height=300vh src=\"https:\/\/www.youtube.com\/embed\/Foip6-ev7Zo?autoplay=1&#038;mute=1\"><\/iframe>There are plenty of ways to send and receive money anonymously. The most popular way is to pay someone in cash and to use a money-laundering service like Western Union. These services keep track of the sender and receiver and each time you use them, they ask for more information. They know who you are and where you live, which makes them quite popular with drug runners and other criminals.<\/p>\n<p>But there are also things you can do by yourself. One easy option is to use a prepaid credit card that doesn&#8217;t give any clues to its owner. But the best option is a cryptocurrency wallet, which is just a user-friendly Internet interface for keeping track of your virtual money or coins.<\/p>\n<p>Bitcoin was the first cryptocurrency, but there are lots of others, including litecoin, peercoin, namecoin and dogecoin. Each cryptocurrency is like a little computer that can keep track of balances and transactions without revealing who owns it or where it came from.<\/p>\n<p>There are two basic options for creating an anonymous cryptocurrency wallet: buy one from someone else or build one yourself using software that&#8217;s available online for free. Buying one from someone else isn&#8217;t hard; just buy bitcoins on an exchange like MtGox or Bitstamp, then transfer those bitcoins to your<\/p>\n<p>There are a few ways to create an anonymous cryptocurrency wallet. One way is to use a virtual private network (VPN), which creates a secure connection between you and the computer you want to connect to. If you&#8217;re using a VPN, you may want to think about making it truly anonymous instead of using only pseudo-anonymous services like Tor. Another way is to use the Tor anonymity network.<\/p>\n<p>To create an anonymous wallet, first you need an account in the mixing service. Once you have an account, there are two ways to make your wallet. You can either generate a new address for every transaction and then move money between them (this is called &#8220;transaction mixing&#8221;), or you can generate a single key and store it on your computer (called &#8220;hierarchical encryption&#8221;). Either way, it&#8217;s important that the service provides good privacy. You should check the processing time on transactions (it&#8217;s best if they take under 10 minutes) and that the site has strong privacy protections in place against government seizure or other law enforcement requests.<\/p>\n<p>If you want to make money, but don&#8217;t want anyone to know who you are or where you live, you can create an anonymous cryptocurrency wallet. If the people who own the cryptocurrency don&#8217;t like it, they can get rid of it.<\/p>\n<p>Once upon a time there was a company called OneCoin. It was supposed to be a cryptocurrency for people who wanted to make money by investing in businesses that accept cryptocurrency. Well, if everyone wants to invest in businesses that accept cryptocurrency, no one will accept cryptocurrency anymore; and if no one accepts cryptocurrency anymore, nobody will invest in businesses that accept cryptocurrency. And once again nobody will accept cryptocurrency anymore because no one will invest in businesses that accept cryptocurrency anymore. This is how the game ends up: no new investors means no new investors means no new investors means no new investors means &#8230;<\/p>\n<p>What happened next is hard to explain, but it&#8217;s easy to understand: OneCoin was not a scam. It didn&#8217;t run away with investor money; it ran away with investor trust.<\/p>\n<p>If you want to make money investing in something you don&#8217;t believe in, it won&#8217;t help to pretend that you believe in it either. The only thing that matters is whether others believe in it: if they do, then doing what they do makes<\/p>\n<p>Cryptocurrencies are anonymous, untraceable and unregulated digital cash. Although they can be used to buy anything, they are mainly a medium of exchange.<\/p>\n<p>One of the major advantages of cryptocurrencies is that you can create an anonymous wallet and transfer money anonymously. (This is not possible with regular banknotes or bank transfers.)<\/p>\n<p>It is very easy to use Bitcoin and other cryptocurrencies in an anonymous way. The process is simple: you have to create a new wallet and send some Bitcoins to it. Then you do not need any other information to operate the wallet &#8211; no name, no address, no email or telephone number. It&#8217;s just an anonymous wallet.<\/p>\n<p>If you are the government, the safest way to get a cryptocurrency into people&#8217;s hands is probably to let them have their own. But if you are the government, you can&#8217;t let people have their own bitcoins: it would be too difficult for you to monitor every transaction. You could ban bitcoins, but that would make it harder for people to know whether they were getting the real thing and not some imposter.<\/p>\n<p>So what you do is let everyone have an anonymous bitcoin wallet. Then, if you want to track who is sending and receiving bitcoins\u2014which is why governments like the anonymity of cryptocurrencies\u2014you can do it by watching who has wallets.<\/p>\n<p>This means that anyone who wants one of these anonymous wallets has to trust a third party. If they don&#8217;t trust the third party, they don&#8217;t get a bitcoin wallet; they just get their own bitcoin addresses, which are like bank accounts but anonymous.<\/p>\n<p>Anonymity is a way to make money. It is a way to hide yourself from the government, to get around taxes, to buy drugs or guns more easily, for prostitution, and so on. For most of human history, anonymity has been an essential part of everyday life.<\/p>\n<p>It&#8217;s not easy to get away with anonymous transactions today. But it used to be much harder. The ancient world was full of anonymous societies: secret lodges of men who met for mutual support and protection, in the form of initiation ceremonies and other rituals that conveyed degrees of solidarity without linking members by name.<\/p>\n<p>Bitcoin was the first distributed network currency. It is based on the design of &#8220;distributed-ledger&#8221; systems, which are like databases but more resilient and less vulnerable to tampering than conventional databases.<\/p>\n<p>Bitcoin&#8217;s creator, an anonymous person known as Satoshi Nakamoto, invented the system in 2009. Bitcoin is a protocol, not a currency. It defines a system of credits and debits, but no one tracks who holds what. Transactions are recorded not in some central database but in every computer that has been &#8220;mining&#8221; the protocol\u2014that is, creating new blocks of transactions. The complex math involved in mining can be used to verify certain transactions without revealing their contents.<iframe width=\"100%\"\" height=300vh src=\"https:\/\/www.youtube.com\/embed\/s4w6E5tdi-M?autoplay=1&#038;mute=1\"><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are plenty of ways to send and receive money anonymously. The most popular way is to pay someone in cash and to use a money-laundering service like Western Union. These services keep track of the sender and receiver and each time you use them, they ask for more information. They know who you are [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.aurumxchange.com\/wp-json\/wp\/v2\/posts\/1522"}],"collection":[{"href":"https:\/\/www.aurumxchange.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.aurumxchange.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.aurumxchange.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.aurumxchange.com\/wp-json\/wp\/v2\/comments?post=1522"}],"version-history":[{"count":1,"href":"https:\/\/www.aurumxchange.com\/wp-json\/wp\/v2\/posts\/1522\/revisions"}],"predecessor-version":[{"id":1523,"href":"https:\/\/www.aurumxchange.com\/wp-json\/wp\/v2\/posts\/1522\/revisions\/1523"}],"wp:attachment":[{"href":"https:\/\/www.aurumxchange.com\/wp-json\/wp\/v2\/media?parent=1522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.aurumxchange.com\/wp-json\/wp\/v2\/categories?post=1522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.aurumxchange.com\/wp-json\/wp\/v2\/tags?post=1522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}