5 ways to improve privacy for a cryptocurrency user
This guide presents 5 alternatives to help protect the privacy of a cryptocurrency user more.
Just as it takes time, perseverance and focus on working the different muscle groups to build a better body in the gym, strengthening your privacy also requires performing regular exercises to stop the flow of harmful information.
Every time any action is taken online, a data hemorrhage occurs. This can be particularly detrimental to users of cryptocurrencies, whose chain actions will be recorded indefinitely.
When combined with data points outside the chain such as IP, email address and mobile number, it is possible for an enemy to create a complete picture of their target. Given the increasing capabilities of “three letter” government agencies (FBI, NSA, CIA), it is safe to assume that in the near future, the State will be able to construct a very detailed picture of the activities of cryptocurrency users. current
Privacy matters. Here are five ways to improve it.
1.-Use a VPN: It is assumed that the use of a VPN (virtual private network) requires a certain degree of technical knowledge and is only for the privacy fanatics. In fact, most VPNs are infallible and can be running silently in a couple of clicks, without the need for manual port reconfiguration. Opera even offers a VPN now in its desktop and Android browsers. “Improving online privacy is everyone’s right,” says Opera. Is right. A VPN will provide an additional layer of privacy when logging into the exchanges, in addition to masking the IP address associated with Bitcoin transactions.
2.- Have two emails: It is not practical to create a separate email account for each cryptocurrency service in which you need to log in. However, you can segment all your emails related to encryption into a single account. This will produce a double benefit: if your main account is compromised, the hacker will not have information or access to your cryptographic activities.
Second, if you choose a fully encrypted email account as Tutanota, the intrusive eyes of government agencies will have no idea of your penchant for the cryptocurrency trade.
3.- Stop reusing addresses: More than half of all Bitcoin transactions refer to addresses that have already been used previously. The creation of a new Bitcoin address is free, instant and provides an immediate increase in privacy. If the wallet or platform you are using does not allow you to create a new address at will, stop using it. There are a lot of competing services, and switching to a more private alternative can be done in a matter of minutes.
Unless you’re only making transactions with privacy currencies like Monero, or you’re using an account-based system, instead of a UTXO-based system like Ethereum, you should look for a new address each time you do it.
4.-Keep keys and codes out of line: Where are stored the 2FA codes of your commercial accounts and the private keys of your cryptographic portfolios? Are they written, divided into parts and stored offline in a series of very safe places? Or are they hidden in plaintext (plain text) in a folder on your laptop marked “anime”? It is amazing to know how many people go with this last one.
Even if you have encrypted the folder containing your keys and codes, it is dangerous to assume that it can not be deciphered by a particular attacker since, statistically speaking, ten million people recycle their passwords. Keeping your private keys out of line will protect you in case your computer is compromised physically or digitally. Even if you can not afford a bank vault or a safe, separate your key into parts and store it in multiple locations, with duplicates, to ensure redundancy, it will work just as well.
5.-Use currency mixers: The coin mixers are not for the ultra-paranoid, they are for everyone. If more people passed their coins through these filters before withdrawing them to hardware wallets, Bitcoin would become significantly more fungible, and blockchain companies would suffer a major blow.
Services like Cashshuffle for BCH make it easier than ever to confuse the origin of their Bitcoin Cash currencies, while Coinjoin, incorporated into pro-privacy portfolios like Wasabi, does the same with Bitcoin (BTC). Some consider it a good thing to have a group of cryptocurrencies that can not be linked to their identity securely stored in a hardware portfolio that has been backed up. It’s the digital equivalent of having a bunker in the backyard full of canned goods and ammunition in preparation for something unforeseen.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.