Topic: Make Bitcoin anonymous ? (Read 269 times)

Baically it's much harder to do it. You need more steps to be completely anonymous

There is nothing wrong in using a centralized exchange to make purchases or sell cryptocurrencies and even if one does that, they have all the rights to stay anonymous and private, it doesn't necessarily mean that they are trying to stay anonymous for everyone but maybe for some people that they don't want to see if he has Bitcoin.

Using Bisq or mixer won't help him at all, mixers are getting regulated and closed down, and if authorities start investigating all the details they have and the people who used the services.

Binance has requested our KYC. And from the start we are no longer anonymous. They know all about our transactions. According to what I have learned is that they are very good at tracking every transaction.

This means that of course wherever the form of transaction that we have issued from Binance they will know where the funds have been withdrawn. Unless in the first place you are not on binance or you are withdrawing your balance and holding cash then you create a new wallet to transact.

Binance knows that you own that certain amount of bitcoin on that certain wallet address, but you can still cut the traceability to only that point by using coinjoins/mixers. So if you use coinjoins/mixers, any transaction you do that point forward, they won't be able to trace you (assuming you do everything correctly).

Nope. That's not possible. You send your coin from binance to your wallet, now the exchange knows who the owner of the wallet is. Since binance requires KYC and additional verification, they  know everything about you. Your name, address and other related things that is enough to identify you. From that wallet, where ever you send your coins, you can still be backtracked to your Binance identification. Bitcoin keeps you pseudonymous, not anonymous. Using the centralized exchange, you ended up losing your pseudonymity. And like other user said, using mixture also won't help you much.

If you want high levels of privacy: CoinJoins or mixers

If you want just enough privacy for the typical person to not track your transaction history: just deposit on a no-KYC exchange and withdraw after a day

^Each methods has their own risks, so DYOR.

That is what I was also going to say that on one side you are interested in using Binance giving them all your details and ending up privacy also with KYC regulations so why asking how to make it anonymous when you are not taking any step for it? The best is to use mixers only if you want no trace but involvement of centralised exchange already ended up.So this is what users should look for when they are serious about their privacy.

You can use any method for big sums, but:

1. Where you heard if using Lightning network will provide anonymity? creating your own channel don't really make you completely anonymous.

2. Both CoinJoin and Whirlpool aren't really a good options, each of them has their own drawback's CoinJoin Alternatives to Wasabi

3. Aside from using a trusted mixer which you can find it here 2023 List Bitcoin Mixers Bitcoin Tumblers Websites, you can convert your Bitcoin to Monero and convert it back in DEX, Monero is 100% private coin.

hmmm that's stupid...

So I'm only left with these options:
Mixer
CoinJoin ( Wasabi )
Whirlpool (Samourai)
Lightning

Which of these options would be most appropriate for really big sums ?

Using the services of mixers is the way to anonymouslyjave bitcoin transfered go some wallet but, there're steps to this though as, direct transfers could result in traces.

You should as well ensure your not sending or receiving mixed coins on same address or having this exchanges done directly with exchanges as this calls for suspicion and a need to keep an eye on the wallets involved.

Creating 3 wallets and spreading these coins between them makes no difference. Its still going to have a single source that can be linked.

Sure, the wallet could belong to anyone. But did anyone else send funds to that wallet address, or was it just you? Blockchain transactions leave a trace, and anyone with basic know-how can connect your wallet to your Binance account. And if they have the power to ask Binance for your personal information, then your identity could be compromised.


There have been suggestions from other users about alternative choices.

You have a deposit address in Binance, it will be yours or credited to your account as long as you send the BTC to the address assigned to you.  No matter how many times you route your BTC address before sending it to your Binance address, it will always be credited to your account.



True that, as long as  Bitcoin users don't use mixers, the source address of the transaction can be easily traced.

Its not that hard to find either you moved the coins from one address of yours to another that belongs to you as well even some explorers will give the tag such as probably self transfer so splitting them into many can reduce the traceability but if you want to erase the trace the best option is using mixer but if you really care about privacy then don't use centralized exchanges at all anymore or swap to privacy oriented coins.

Binance will send you your Bitcoin from their cold wallet, which does not show that the Bitcoin is from your Binance wallet, making it somewhat anonymous because your electron wallet belongs to you and cannot be traced to obtain your identity, whereas sending from your electron wallet to Trezor and BitBox wallets does not provide any anonymity because the transaction can be tracked.

And I think only Mixers will offer you the best anonymity you want.

I had to use Binance to exchange my USDC into BTC, unfortunately there is no swap for BTC, only for AltCoins.
And with BISQ the limit is not sufficient, it was too low, even for several attempts the limit was too low in my case.

When Binance sends the BTC to my Electrum wallet and I send it to my Trezor and from there to my BitBox, how does the government want to know that it's still my coins?
The wallet could belong to anyone.

I generally don't use mixers, it's too risky for me and I could get dirty coins.

Can agree with franky partly, don't use mixers you know to be flagged. But this isn't to say mixers aren't your friend. You can still increase privacy from prying eyes in many other cases. A supplier you're dealing with in crypto, or even p2p trading, or even your employer. You don't need or want them to know what you're doing.

For exchanges, there are other non-mixer services to break the links to your wallets.

That said, only a handful of exchanges actually have any kind of KYC worth their salt. Here's a recent example of Gate allowing sanctioned individuals and blacklisted emails to verify on their exchange despite "compliant KYC".

I believe many of us or all of us touch Binance.

OP possibly did not think about privacy at debut in cryptocurrency and it is not bad at all and we can help OP to gain privacy.

You don't understand difference between transactions and trades. You can make transactions when you don't trade with anyone else.

Decentralized exchanges are for anonymous tradings when you need to trade.
Non custodial wallets are needed when you need to self responsible for your coins and its transactions.

They are interacted with each other. You can store your coins in non custodial wallets but if you move it to a centralized exchange for trading, your privacy will be broken.

Why did you use Binance in the first place to store your coins if you wanted privacy ? You provided them with your information and they already know that you are the one that has transferred you coin to mixer. This means that you can easily be identified through your wallet because Binance is a centralized exchange and will monitor closely any of their users that transferred his coin into a mixer.

If you need maximum privacy,you should use a decentralized exchange for whatever  transaction that you want to do,either from bitcoin to your local fiat or vice visa. This will give you the kind of privacy that you need to stay anonymous,when using a mixer with a decentralized platform and wallet. Bisq is among one of the trusted decentralized exchanges.

You can use Binance or centralized exchanges when you are newbies or for your very first trades. You still can get privacy and anonymity later if you know how to do your trades and transactions with better methods and platforms.

Not all no-KYC exchanges are good for privacy. If they are centralized exchanges, they can collect user data and can give those data to governments when time comes.

If you use a mixer to mix your bitcoins, it does not lead to privacy and anonymity. It depends on how you pick anonymity set, how you use your coins after Coinjoin or Mixing. It depends on how that mixer service is valid and good, how they keep their promise for user privacy and anonymity, do they keep user log-ins long enough to cause data leak.

It's hilarious how you're talking about privacy matter but you're use Binance to buy or sell your coins.

Binance is a centralized exchange, they have recorded all of your IP logs, your device and ask your KYC, so the coins you've linked with Binance is already traceable and monitored by them.

Even you route your coins through 10 wallets, they can still trace your coins, the difference is it will take more time.

Use Bisq to trade and mixer if you want to protect your privacy.

https://kycnot.me/

Use that website to get exchanges without KYC to use.

You can use them as alternatives for mixers. You can use private coins like Monero to exchange your Bitcoin to Monero, withdraw Monero. Sell Monero somewhere and convert it back to Bitcoin if you only want to store your money in Bitcoin.

The final wallet you use to store it should be a very new wallet.

Challenge to achieve anonymity if you don't want to use mixers is higher fee from on-chain transactions for deposits, trading fees for a few times, withdrawals.

Yes, anyone can be traced any transaction using the public blockchain. Even you use an exchange it will still be possible to trace you. Your only choice is using a mixer or privacy coins like monero.

by using a mixer, two things happen
a. binance sees your withdrawal went to a mixer. so they flag your account (regulation requirement)
they share that information with other regulated services.

b. after mixing. if you then use another financial service thats regulated. they see your deposits came from a mixer. they flag your account and share your information with other services

they then see your name made a withdrawal and deposit. and link the values from the ends even though you cut the middle

yep using mixers does not hide you from financial services. using mixers FLAGS  and HIGHLIGHTS you for more scrutiny and tracking compared to other users that dont use mixers. and more information about you is shared due to mixer usage

here is the cheat
mixers are actually wrote into regulations as a red flag
soo... use something else thats not a mixer or promoted as anonymity enhancing. but whereby the funds you hand in are not the funds you get handed out. thus you break the taint without the flags

the silly thing about mixers is that they are promoted as such. they offer nothing else but the thing regulators get financial businesses to watch for

however if there are other services that offer a different features/functionality/service thus not defined as mixers. regulated services wont flag that. yet if that service as a un-promoted side effect gives people different taint with their withdrawal compared to their deposit. then they can escape the flags

think about it.. but just dont use the things regulators have actually got wrote into regulatory policy for businesses to watch for.. mixers are not your friend. they end up being what gets you watched more closely

It is better you should use a mixer for it if you do not want anyone to link the coin to you. If you do not want to use Coinjoin or centralized mixer, you can exchange the coin for monero and exchange it back to bitcoin. But I will prefer mixers.

Yes, providing that you still send them from the same wallet to another new wallet, it will show that the coins are still yours or that they still circulate around a few wallets that can easily be linked to you.

So the best thing for you to do is to use any mixing service; I am currently advertising one on my signature space. You can mix your Bitcoin there and split it into your preferred different wallet without it being traced back to your old address, and no one will know you own them again.

Hey Guys,

Is it possible to anonymize my Bitcoins that I have transferred from Binance without using Whirpool or CoinJoin?
Would the coins still be assigned to me if I route them to 3 different and newly created wallets?


Best regards