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Crypto isn’t entirely private

I see a lot of people say crypto is private and people can hide money so I thought I would explain the ways it isn’t private.

If you buy from an exchange with KYC, none of your accounts are private. As soon as you transfer your coins from the exchange into your wallet, your wallet address is linked to your name. Then any other account you transfer to from your wallet can be figured out as your other wallets.

If you keep your wallet on your phone, the phone company knows who you are so they could track your wallet addresses.

If you buy crypto from a non kyc exchange on your computer your ip could be tracked and since your cable company knows who you are they could see your wallet addresses and know who you are.

If you use a VPN to buy crypto on a non kyc exchange and store it onto a cold wallet your might be safe. Assuming you don’t send coins to someone you know who has been identified or you send to an exchange to cash out.

TLDR: if the government or irs wanted to figure out who’s public addresses where who they could.

Better explanation- https://youtu.be/2OIO5wBoQlQ



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6 Comments

  1. The IRS isn’t “coming for you” unless you don’t play by the rules.

    Every game has rules. Play, win, prosper. Or lose it all. Whatever! 🤷🏼‍♂️

    But yes, the idea of private anything is largely false.

  2. Yeah, that’s a lot of assumptions here. Try proving that in court. Sent BTC from an exchange to a wallet, from that wallet to another wallet. It gets easier, if you split it into a countless transactions.

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