Bitcoin Users Switching To Monero For Added Privacy

By Daniel Zo Bitcoin, Monero Read Comments

Chances are that you are aware of the fact that Bitcoin isn’t truly anonymous. While it does offer some privacy protection, the transparency of the blockchain allows anyone to see what transactions you’ve carried out.

Unfortunately, monitoring the public ledger, analysis of KYC (know your customer) policies and anti-money-laundering laws can reveal quite a lot about certain bitcoin users, especially if they’re not careful in hiding their identities. While there are a couple of possible solutions, none have been implemented into the bitcoin code, and most bitcoinists don’t have the patience needed to intricately hide their marks.

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