One of the primary concerns for users of Bitcoin and other cryptocurrencies is security. For all the benefits of cryptocurrency, as a decentralised digital payment system, there are threats from hackers and fraudsters that necessitate certain security measures. For many users, one security concern is the ability to use Bitcoin anonymously. Unfortunately, that isn’t possible. Bitcoin is not totally anonymous, though plenty of people are under the impression that it is. Even so, there are measures that users can take to protect their identity as much as possible. The lack of central control for Bitcoin and the fact that transactions are verified by the network, has helped to create an impression that the cryptocurrency is anonymous. Nobody is watching over transactions, but that doesn’t mean that they are not traceable. Another factor is that Bitcoin ‘accounts’ – your wallet, with its public and private keys – are not tied directly
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