Complete Bitcoin (BTC) Guide
Bitcoin is accepted on Torzon Market, but requires additional privacy measures due to its transparent blockchain. This guide covers private Bitcoin usage techniques.
BITCOIN PRIVACY LIMITATIONS
Bitcoin transactions are recorded on a public blockchain, making them potentially traceable. All transactions, amounts, and addresses are visible to anyone. Advanced blockchain analysis can link addresses and potentially identify users.
PRIVACY CONCERNS
- All transactions are permanently recorded on public blockchain
- Addresses can be linked through transaction analysis
- Transaction amounts are visible to everyone
- Blockchain analysis can trace transaction flows
- Address reuse compromises privacy
- Exchange KYC links addresses to identity
While Bitcoin provides pseudonymity, it does not provide true anonymity. Additional privacy measures are necessary for anonymous usage.
BITCOIN TUMBLERS / MIXERS
Bitcoin tumblers (also called mixers) attempt to obscure transaction trails by mixing coins from multiple users. However, tumblers have limitations and risks:
HOW TUMBLERS WORK
- Users send Bitcoin to tumbler service
- Tumbler mixes coins with other users' coins
- Users receive different Bitcoin from tumbler
- Transaction trail becomes more difficult to follow
TUMBLER RISKS
- Exit scams: Tumblers may steal user funds
- Blockchain analysis: Advanced analysis may still trace transactions
- Legal risks: Some jurisdictions prohibit tumbler usage
- Trust requirement: Users must trust tumbler operators
ALTERNATIVES
Instead of tumblers, consider:
- Converting Bitcoin to Monero for superior privacy
- Using CoinJoin services for transaction mixing
- Employing multiple intermediate addresses
- Using privacy-focused cryptocurrencies instead
BITCOIN WALLETS
PRIVACY-FOCUSED WALLETS
Some Bitcoin wallets offer enhanced privacy features:
- Wasabi Wallet: Built-in CoinJoin functionality
- Samourai Wallet: Privacy-focused mobile wallet
- Electrum: Lightweight wallet with privacy features
- Bitcoin Core: Full node wallet with privacy options
WALLET SECURITY
- Always download wallets from official sources
- Verify wallet software signatures
- Use strong passwords for wallet encryption
- Backup wallet files and recovery seeds securely
- Never reuse addresses
- Use new addresses for each transaction
EXTERNAL RESOURCES
PRIVACY BEST PRACTICES
ADDRESS MANAGEMENT
- Never reuse Bitcoin addresses
- Generate new address for each transaction
- Use HD wallets for automatic address generation
- Avoid linking addresses to personal identity
TRANSACTION PRACTICES
- Use CoinJoin services when available
- Avoid linking transactions to personal identity
- Use multiple intermediate addresses
- Consider converting to Monero for enhanced privacy
EXCHANGE PRACTICES
- Use peer-to-peer exchanges when possible
- Avoid exchanges with extensive KYC
- Never link exchange accounts to personal identity
- Use privacy-focused payment methods
USING BITCOIN ON TORZON MARKET
While Bitcoin is accepted on Torzon Market, Monero is recommended for superior privacy. If using Bitcoin:
- Use new addresses for each transaction
- Consider using CoinJoin or tumbler services
- Never link Bitcoin addresses to personal identity
- Consider converting to Monero for enhanced privacy
- Keep transaction records separate from personal finances
Remember: Bitcoin's transparent blockchain makes transactions potentially traceable. For maximum anonymity, Monero is the recommended choice.