this post was submitted on 28 Mar 2025
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Explain Like I'm 5 (ELI5)

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How is Bitcoin anonymous? (lemmy.world)
submitted 4 days ago by EfreetSK@lemmy.world to c/eli5@lemmy.world
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So my understanding is, you have a wallet, that wallet has a hash ID and thus is basically anonymous. But if someone connects that ID to you, you aren't anonymous anymore.

I heard you should use a new wallet for every transaction. But if I send money to the new wallet from my personal wallet, won't that be on blockchain forever? Thus making it identifiable? Or if I send euros/dolars to my new wallet, won't that connect me to the new wallet?

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[–] revv@lemmy.blahaj.zone 5 points 4 days ago

It's not. It's at best pseudonymous. You are correct that every transaction is perpetually traceable. If you want anonymous crypto, look toward something like monero.