If you’re looking for a way to hold and trade Bitcoin privately, then this is the article for you! Here are the 5 best anonymous Bitcoin wallets and the reasons why they are must-try options.
Why you should use untraceable Bitcoin wallets
As you may know, Bitcoin transactions are merely pseudonymous rather than anonymous. Users’ identities are required for KYC authentication, and as they are recorded and stored online, they’re always a target for hackers. While other privacy methods for crypto-asset transfers certainly have downsides, anonymous bitcoin wallets could be the solution we’re all looking for.
Which are the best anonymous bitcoin wallets for you?
Ledger Nano X – Hardware wallet
If you intend to acquire and hold crypto as a long-term investment, a hardware wallet is an essential purchase for storing your assets anonymously. Hardware wallets keep your cryptocurrencies offline and away from the security issues of the Internet.
With outstanding features, the Ledger Nano X, a newly launched product of Ledger SAS, is very high up on the list of the best bitcoin wallet app wallets giving you the totally anonymous experience.
As the successor to the Ledger Nano S, the Nano X boasts several improved features and provides excellent value for money. It is the first hardware wallet to have Bluetooth connectivity, making it easy to pair with any iOS or Android device. Some Bitcoin experts have claimed that this feature may be a security weak point, however, Ledger’s development team claims that the Bluetooth connection is encrypted and so the private keys are safely stored in a certified secure element.
The Nano X supports over 100 wallets at a time, which means you can have millions of unique addresses generated from these wallets.
To use Nano X as an untraceable Bitcoin wallet, you’ll need to obscure your ISP using a VPN.
Bitcoinpaperwallet.com – Paper wallet
The concept of a paper wallet comes from the idea that storing your private and public key as a physical object offline is the simplest and safest option. Even if the paper wallet is stolen or lost, the owner’s identity is safe and cannot be tracked.
Bitcoinpaperwallet.com provides users with an effortless, yet secure, long-term Bitcoin storage solution. By printing out your own tamper-proof bitcoin wallet and generating your own addresses, you will not be at risk from hackers and your identity will be kept secret.
With a tri-fold template, all sensitive details including the private key and QR code are folded up and securely taped in order to stay hidden. For additional security, you can seal your wallets with tamper-evident serialized hologram stickers, which will destroy themselves when removed, preventing stickers from being replaced with new ones.
Paper wallets generated by Bitcoinpaperwallet.com are the best anonymous bitcoin wallets choice for people who want crypto assets but are not tech-savvy.
Electrum on Tails operating system – Software wallet
Although there are hundreds of software wallets available, Electrum is one of the oldest and most established bitcoin wallets on the market. You can download it for free as well as use it on Windows, iOS and Linux.
Electrum provides you with a password seed, which allows you to recover your assets if the private key is lost. As a self-hosted wallet, you have full ownership of your private keys all the time.
Electrum is not an anonymous crypto wallet by default, however, you can keep your transactions untraceable if you use the Electrum wallet on the Tails operating system.
So what exactly is Tails?
In their own words: “Tails is a live system that aims to preserve your privacy and anonymity. It helps you to use the Internet anonymously and circumvent censorship almost anywhere you go and on any computer but leaving no trace unless you ask it to explicitly.”
Electrum is an option worth trying if you are looking for one of the best anonymous bitcoin wallets for your laptop or PC.
Samourai wallet – Mobile wall
Samourai wallet is one of the best anonymous bitcoin wallets to keep your transactions private, your identity masked, and your funds secure.
The developer team of Samourai is deeply committed to creating privacy for Bitcoin transactions, as they state in their introduction:
“We are privacy activists who have dedicated our lives to creating the software that Silicon Valley will never build, the regulators will never allow, and the VC’s will never invest in. We build the software that Bitcoin deserves.”
The Samourai mobile app has robust features that guarantee a high level of anonymity for users when transacting Bitcoin:
- No Address Reuse: Samourai is an HD wallet that alerts you when an address has been used before, helping to avoid unintentional address reuse.
- Protection with STONEWALL: STONEWALL enables Samourai’s transactions to generate higher entropy than normal Bitcoin transactions; as they resemble CoinJoin transactions on the blockchain, they are more complicated to analyze.
- Tor & VPN Enabled: Samourai is enabled with Tor and VPN support, giving you the ability to route all transactions through an anonymous IP address
5. Incognito wallet – Mobile wallet
Despite being a new arrival on the crypto scene, Incognito Wallet has proven that it can stand toe-to-toe with many other anonymous crypto wallets. For those who are looking to send and buy crypto anonymously, this application comes highly recommended.
With innovative features, Incognito turns the cryptocurrency of your choice into its privacy version in just one tap and also gives you full control of your personal data and assets. As a result, you can send, receive and store Bitcoin in total anonymity.
Incognito functions as a sidechain for privacy coins and connects to the Bitcoin blockchain via a trustless portal. Through the utilization of smart contracts and trustless custodians, Bitcoin users can get a privacy version of Bitcoin (or other cryptocurrencies) issued at a rate of 1:1 on the Incognito chain, which can be switched back to normal BTC without involving any third party.
When you turn on “Incognito mode” for your crypto assets, no one can see your balance or the details of any transaction – that’s why Incognito is one of the best anonymous bitcoin wallets to try in 2020.
Best anonymous bitcoin wallets: Final words
Storing bitcoin anonymously is certainly possible nowadays and there is a wide variety of options to choose from. If you want to keep your crypto assets totally offline and away from hackers, then you should be looking at a hardware or paper wallet. If you prefer more flexible solutions that also support untraceable Bitcoin transactions, there are several software and mobile wallets detailed in this article that are great options to try.
No matter what method you use to keep your coins and transactions untraceable, make sure you do the necessary research so you can find the wallet that works best for you.