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Jul 24, 2022

Crypto Payment Safety

It's never been easier to identify the sender when it comes to payments or money transfers. Any online money transaction leaves a trail, but crypto payments and specific payment rules make this trail impossible to follow.

The genuinely anonymous hosting provider accepts only a crypto payment gateway. But we all may not know that Bitcoin is not as anonymous as some people might think. Bitcoin is only pseudonymous; therefore, your privacy must be well guarded. This article will describe some basic rules for using crypto payments and staying anonymous.

Anonymous hosting and crypto payment safety

Any payments, even done using crypto, leave some trail containing information about the owners of the crypto wallets and their addresses. Companies such as Chainalysis can help governments or organisations identify the real owners behind the wallet.

If the users of anonymous hosting want to keep their privacy intact, they need to stick to some safety routines regarding crypto payments. Following these routines and understanding Bitcoin's pseudonymity correctly are essential to comprehending how people might maintain their payment anonymity in this society. These extra steps are needed because Bitcoin still discloses some data on the users of this vast blockchain network.

With enough knowledge, a Bitcoin address can be linked to someone's identity in several ways, but the most straightforward way is thanks to KYC (know-your-customer) procedures. Cryptocurrency service providers are required by law to gather specific KYC data on their clients.

Nearly every online financial service or cryptocurrency exchange must confirm their end users' identities. Therefore, these services require personally identifiable information (PII). These can range from a person's name, email address, and residential address to more thorough KYC such as bank documents, an ID, or a passport.

In reality, most KYC exchanges or custodians will request at least some kind of documentation, instantly linking your wallets to your identity.

Keep your payments safe

The pricing of our anonymous VPS is based on each instance configuration and the overall time you use it for. Here in prv.to we offer more than five cryptocurrency payment methods. To find out more about their pros and cons, read our article on Bitcoin and other cryptocurrencies.

As was already mentioned, your wallet might be the weakest element of your online privacy. Therefore, it's strongly advised to follow the principles below.

  • Never link your credit card to any services requiring KYC procedures;
  • Buy Bitcoins anonymously (never pay for Bitcoins by credit card or via PayPal);
  • Always generate a new wallet for every transaction;
  • Do not install your anonymous wallet on smart devices or personal laptops.

The reason for not linking your crypto wallet to any services following KYC principles is apparent. Since Bitcoin is pseudonymous, once your wallet is compromised, all your past transactions can be exposed. Be extra careful with whom you share your wallet details.

Buy Bitcoins anonymously; this way, you'll avoid exposure due to credit card or PayPal details. Many platforms still allow you to buy Bitcoin anonymously with cash and other deposit methods, so be careful how you acquire your crypto and always look for services that enable you to buy crypto without KYC.

Each time you complete a new transaction, you should create a new Bitcoin address to maintain anonymity. Furthermore, you may utilise numerous wallets for various purposes. This way, you can isolate each of your transactions so it is impossible to link them together, and Bitcoin senders cannot view the other addresses you hold or the transactions you make using them.

The transfer of Bitcoin might be even more transparent and traceable than standard bank transactions. Therefore, it is not advised to broadcast transactions from your smart device. If users of these so-called hot wallets don't use enough protection, their funds might even be stolen.

Furthermore, when using anonymous hosting, it's advised to secure your connection by accessing your control panel via an anonymous Tor browser. The Tor browser encrypts and reroutes your Internet traffic through a series of voluntarily run nodes in the Tor network, making it extremely difficult to monitor your activity.

An even safer way to access your unknown server settings is by using the anonymous operating system, Tails. Tails is a unique operating system protecting you against surveillance and censorship, connecting you to the Internet exclusively through the anonymous network Tor.

The Bitcoin network is the largest and most sophisticated payment network ever. As the network expands, it gets harder to attack, but targeting specific users is still much simpler.

The biggest threat to your payment system is you. By not following the abovementioned principles, you could open yourself up to various threats or expose your real identity behind your anonymous hosting servers.

Be extra careful when making crypto payments so you don't compromise your anonymous hosting privacy.