Is bitcoin anonymous?

Bitcoins are nothing but digital money and this money is accepted as a mode of payment these days by numerous people. The value of this currency is usually higher than that of other currencies, thus when own it, you will be able to make more money by selling it or exchanging for other currencies.

You may be heard of anonymity that comes with bitcoins and when you do not have any idea about it, this article will assist you in knowing about what bitcoins is and how anonymous it is. Bitcoin is a type of cryptocurrency which is designed to send and receive payments. Also the bitcoin payments are made with certain degree of privacy.  All those transactions that are made with bitcoins are stored in a public ledger called blockchain. In this ledger your public address along with the amount that you have transferred to other bitcoin address of a user will be noted.


So we can say that the bitcoin transactions are partially anonymous. Since there is no trace of your original name and identity, until you revealed your identity nobody can trace you as well as trace transactions that are done by you. But you have to change your bitcoin address more often, as it can make you to get caught by others. Unlike credit card payments in which your identity is revealed to the recipient, in case of bitcoin payments, no one will be able t know you. Also you can enjoy numerous benefits when you transact with bitcoins other than anonymity.