Anonymity is one of the main ways to keep your assets safe on the crypto market. With blockchain technology, we are the sole custodians of our assets. It means having a minimal amount of personal financial data online is crucial to avoid malicious scrutiny.
However, anonymity and privacy don’t come automatically with crypto. Although transactions are pseudonymous and don’t contain private data, they can be easily traced back to their owners.
For this reason, we will provide you with three anonymous exchanges that will allow you to retain your privacy when converting IOTA to BTC.
Why Is It Important to Remain Anonymous?
Anonymity is often taken for granted in the crypto industry. Many users mistakenly think that their data is hidden because their wallet addresses don’t provide any personal data. However, malicious actors and criminals can link your blockchain data to your identity and find out about your holdings. This leaves you vulnerable to $5 wrench attacks, hacks, or extortion.
Additionally, if you use cryptocurrencies often and for daily payments, you wouldn’t want everyone to know how many assets you hold. For instance, if you are a freelancer receiving payment in crypto, you wouldn’t want your clients to know how much money you have at all times.
What Do We Know About IOTA?
Iota is a unique distributed ledger that uses the Tangle technology for confirming transactions. This consensus mechanism allows for smart contract capability while remaining highly scalable and provides cheap transactions.
Due to the minimal costs of transactions on Iota, this network aims to become the go-to solution for internet-of-things (IoT) devices. This would allow them to communicate freely, while at the same time retaining the immutability of blockchain technology.
In addition, the network can be used to provide a decentralized ledger for digital identity and allow users to seamlessly exchange assets and data. You can check some price predictions of the MIOTA token on the following link: https://godex.io/blog/price-predictions-miota-iota-2020-2025.
BTC Review
Bitcoin is the original crypto. It was created to provide a decentralized, peer-to-peer payment network for the masses. It allows for bypassing the shortcomings of centralized traditional fiat currencies and creates a new financial paradigm.
As the pioneer in the industry, Bitcoin has become the go-to crypto asset for institutional investors. It provides stability and acts as a strong store of value, despite its short-term volatility.
Although some consider its proof of work consensus to be wasteful and archaic, the Bitcoin network is easily the most secure payment platform in the industry.
Top 3 Anonymous Exchangers
Anonymous crypto exchanges remain an ideal solution if you don’t wish to share any of your personal data with these platforms. Let’s take a look at three of the best ones on the market.
Godex
Godex is a cryptocurrency exchange that focuses on ease of use and privacy. As a user, you will never have to provide any personal data to access its services. You can keep your crypto financial data and personal information separate.
It provides more than 300 different cryptocurrencies to swap from and to and offers fixed rates that shield you from the volatility of the market.
Atomic Wallet
Atomic Wallet is, as its name suggests, a cryptocurrency wallet app for both mobile and desktop devices. In addition to this non-custodial service, the app provides an integrated token swap, allowing you to exchange different tokens for one another on the go. The only caveat is that the number of exchange pairs is fairly limited.
LetsExchange
Similar to Godex, this swap platform allows you to exchange hundreds of cryptocurrencies for one another. This means that you can swap cross-chain without having to go through an extra step by converting into stablecoins.
The exchange also provides a decentralized exchange option for five of the most popular smart contract networks currently available.
Anonymous Exchanging Experience
Privacy is often underestimated in crypto, even though it’s your #1 solution to keep your funds safe. While privacy coins can be a good option, they aren’t often accepted as payment or present on exchanges. Consequently, the best way to go around this is to use anonymous exchanges like the ones listed in this article.