Cryptocurrencies are non-anonymous, although many believe otherwise. In 2014, scientists from the University of Luxembourg developed an effective method of de-anonymizing users. Hackers, corporations and states obtain the IP addresses of participants in crypto transactions by placing their own nodes around the world. So, to work with cryptocurrencies and not disclose your IP address, you need to use an anonymous cryptocurrency wallet.  

In this article, we will tell you why VPN or Tor are not enough for private and efficient crypto transactions, as well as explain on the example of crypto wallet for business BitHide, with the help of which technologies it ensures the privacy of users. In addition, we will give step-by-step instructions on how to connect it and get started. 

Anonymous bitcoin wallet – only with Dark Wing technology 

VPN changes the IP address of the participant of cryptotransactions, but the owners of these services provide user data at the request of the states on whose territory their servers are located. So the use of cryptocurrency with the help of VPN cannot be called anonymous. Tor is more effective in the issue of ensuring privacy on the Web, but the confirmation of a transaction sent through Tor, you will have to wait for days, and most likely, you will not be able to wait for it. Nodes block such connections. 

The team of cryptocurrency wallet for business BitHide has found an effective solution to the anonymity problem – Dark Wing technology. It is a synthesis of VPN and Tor, the latter reliably hides the real IP address, and the former provides fast synchronization with the node. The address will be changed three times and no one will be able to recognize the real one. 

Anonymous crypto wallet on the client’s server is a guarantee of security 

No one will be able to track the data, if the user himself is their owner. This is the case only when the wallet software is installed on its own server. BitHide is a non-custodial product, and it runs on clients’ hardware. 

Together with Dark Wing technology, it is a reliable protection of the wallet structure and transaction data, no third party can find out. In addition, when the wallet runs on the client’s hardware, the latter decides whether its customers will undergo KYC checks or not. 

AML verification of a cryptocurrency wallet – know everything about the riskiness of your crypto assets

Anonymity when using cryptocurrencies is important, but along with that, businesses need to understand the risk assets they are working with. BitHide has a built-in AML funds verification feature for this purpose. In a couple of seconds, it’s easy to find out how many high-, medium-, and low-risk assets there are at a particular address. At the same time, addresses can be both internal and external, and the user can check them manually or set up automatic verification of all cryptocurrency when it is credited.

Step-by-step algorithm for connecting a crypto wallet for business BitHide

The first thing to do is to leave an application on the website. After receiving it, managers will write to the potential client, clarify exactly how he plans to use the wallet. After that, they will calculate an individual tariff plan for him. Further the algorithm of connection will look like this:

the client pays for the purchase of the product;

the cryptocurrency wallet software is installed on the client’s server; 

the client will receive a unique 512-bit key, which will be used to encrypt the history of transactions, as well as to enter the wallet; 

at the stage of the first login, the owner comes up with his own PIN code, which will also be used to log in to the product, as well as to confirm important actions in the wallet, such as setting up auto-withdrawal; 

entering the wallet for the first time, the client receives a seed-phrase, which no one will own except him.  

After completing all the described procedures, the anonymous cryptocurrency wallet will be ready for use, if the owner has any questions at the connection stage or in the course of work, they will be quickly answered by the competent and friendly technical support service.