Cryptocurrency without privacy is pointless. If your coins aren’t fungible, you lose much of the benefits of using cryptocurrency in the first place. Privacy isn’t just won and lost onchain though. In fact, much of the privacy gains to be made when it comes to sending, spending and trading crypto occur offchain, as you go about your business on the web.
Also read: Wasabi’s Privacy-Focused BTC Wallet Aims to Make Bitcoin Fungible Again
The Never-Ending Quest for Privacy
Privacy is like fitness: a way of life rather than a task that can be ticked off. Just as it takes time, perseverance and focus on different muscle groups to build a better body in the gym, strengthening your privacy calls for undertaking regular exercises to stem the flow of doxable information. Every time you perform an action online, you’re hemorrhaging a trove of data. This can be particularly damaging for cryptocurrency users, whose onchain actions will be recorded indefinitely.
When paired with offchain data points such as IP,…