Privacy and Security in Bitcoin and Cryptocurrency Trading

Remember that private keys must be kept secure. By the address of your wallet, you can track its balance and transaction history. Keep the bulk of your coins in addresses that you don't directly use to buy bitcoin and other cryptocurrencies. To date, there is no identification information about who owns this or that wallet. That is, we can see how many bitcoins are in the wallet, but we do not know whose bitcoins these are.

You must understand that after passing the KYC Know Your Customer, special services can track transactions made, for example, on the BTC blockchain with other user accounts, including their wallets. Identity verification (KYC) on the OKX exchange Today, most of the largest cryptocurrency exchanges require KYC. Now, when you buy bitcoin, the funds are tied to your name. If you send coins to another wallet, they can be tracked on the exchange. To date, the most popular exchanges are not decentralized and require verification of personal data.

When registering an account on a cryptocurrency exchange, it is important to remember safe online practices: Use a secure Internet connection every time you buy cryptocurrency. Do not buy coins via wifi in a cafe, hotel room, or other public internet connections. 2FA (using two-factor authentication). A unique password that includes various letters (lowercase and uppercase), special characters and numbers. Remember, your password should not be used anywhere else! Binding to the phone (SMS). A trading password that includes various letters (lowercase and uppercase), special characters and numbers. This password must not be the same as your login password. Phishing phrase. This is your custom phrase or word that will appear every time you log in. If you do not see your phrase when you log in, then you are on a phishing site (fake). Look carefully at the site address. Also, this phrase can be displayed in each letter from the exchange to be sure of the authenticity of the mailing list. Not all exchanges have this feature.