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Is It True That Cryptocurrency Senders Or Receivers Cannot Be Tracked At All?

  • Thread starter Thread starter Good-Person
  • Start date Start date
Most transactions in the crypto currency market goes through the block chain system and blockchain has a ledger system so the capital and transactions are recorded
 
I believe very soon, their will be a detector, which will detect where and when a transaction takes place as long their is record for transaction carried out by any address....
 
In my opinion, almost 100% of cryptocurrency cannot be traced who is the sender and recipient of crypto, but if you open the blockchain there will be crypto transactions and you can then browse where (crypto wallet or exchange), currently cyber security has collaborated with wallets and exchanges, so it's easy. identified who has with KYC. You can also disguise Bitcoin receipts with a wallet mixer, making them harder to track.
 
Well, whether you're talking about money being delivered to one address or the other, the address is always obvious, but you can't link any personal information to such addresses.
 
The faceless nature of the cryptocurrency makes it practically impossible for you to trace any cryptocurrency related transactions. That's the basic features.
 
Your right,
Ehizzy1 said:
I think some crypto currency are still trackable except from monero coin and dash coin which are more hard to track ,and most people actually have a lot of device they make use of in actually tracking crypto currency i think, so that's the mode and how it actually looks like i thinj
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You are right, Monero, Dash, Zcash are all privacy coins. These coins are specially designed for no one to trace them easily, but other coins are traceable through their transaction ip. So many countries are against privacy coins because criminal minded people miss using them.
 
Honny143 said:
Your right,
You are right, Monero, Dash, Zcash are all privacy coins. These coins are specially designed for no one to trace them easily, but other coins are traceable through their transaction ip. So many countries are against privacy coins because criminal minded people miss using them.
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I learned about private coins such as Zcash and Monero and how they cannot be traced. I think that if you want to make a secure transaction, then you could use such kind of coins.
 
Good-Person said:
I learned about private coins such as Zcash and Monero and how they cannot be traced. I think that if you want to make a secure transaction, then you could use such kind of coins.
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Secured transaction This is the best and worst part of these privacy coins.terrorist groups transfer their money one to another securely. Even governments' secure security systems cannot trace these transactions. This is the one reason that so many countries' governments have not accepted crypto.
 
That's one of the characteristics of cryptocurrency. It is a decentralized technology in which every transaction that is occurring in the blockchain network cannot be traced. The FBI or any other security agents will only be able to track your wallet address.. That's all .
 
Sotherefore said:
That's one of the characteristics of cryptocurrency. It is a decentralized technology in which every transaction that is occurring in the blockchain network cannot be traced. The FBI or any other security agents will only be able to track your wallet address.. That's all .
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The issue is that not all the cryptocurrencies are decentralised. Some of them are centralised such as Tether. Some of them are decentralised such as Bitcoin and a few other major cryptocurrencies.
 
Good-Person said:
Is it true that the senders or the receivers of cryptocurrency cannot be tracked at all? Cryptocurrencies are a kind of decentralized digital network and no single organization can control it. It is transferred digitally and no one can reveal the identity of the sender or the receiver. So is it not possible to track down the sender or receiver of cryptocurrency transactions?
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Yes and no.
See, block chain based services gives you pseudo anonymity.
What this means is that even if you could get some data of the user, you could track him.
Suppose your name is John. You creates a Bitcoin wallet and your wallet address is lwhdkehg82638nwjwhje. This is your pseudo anonymous name but as you can see, if somebody gets to know that your name and Bitcoin address, they could track your Bitcoin transactions by looking at the block chain data and tracing every transactions done by or to your address.

So in reality, you're not 100% untraceable in block chain technology but it's still FAR better than other online payment methods like Google Pay, PayPal, etc..
 
Good-Person said:
The issue is that not all the cryptocurrencies are decentralised. Some of them are centralised such as Tether. Some of them are decentralised such as Bitcoin and a few other major cryptocurrencies.
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Tether is a stable cryptocurrency and even with that I was still believing that it is a decentralized cryptocurrency since it has a blockchain technology in it. How sure are you that tether is not a decentralized cryptocurrency ?
 
Sotherefore said:
Tether is a stable cryptocurrency and even with that I was still believing that it is a decentralized cryptocurrency since it has a blockchain technology in it. How sure are you that tether is not a decentralized cryptocurrency ?
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Tether is not a decentralised cryptocurrency. Tether is a centralised cryptocurrency, as it is owned by a company known a iFinex. Such kind of cryptocurrencies are created by many corporations to boost business and revenues.
 
Good-Person said:
Tether is not a decentralised cryptocurrency. Tether is a centralised cryptocurrency, as it is owned by a company known a iFinex. Such kind of cryptocurrencies are created by many corporations to boost business and revenues.
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Well , even if it is a decentralized cryptocurrency or not , we don't usually use it for anything important . It is just to save our cryptocurrency from depreciation in case the market has to drop.
 
Since I have been hearing about crypto, I have never seen someone trace a transaction, if you send a crypto to another address let's say ethereum to bitcoin, once this is done, you can not get your funds back and the only reason why somebody will want to traces transaction is mainly because he or she made a mistake and sent it to another person's address which is untraceable I think.
Concerning if crypto currencies are 100 percent untraceable. Well, I don't know being 100percent untraceable but it is untraceable to some extent especially when an individual send it to an incorrect address, it would be hard or can't be traced
 
As I understand it can't be tracked based on my own research but the wallet address of the receiver and the sender can be tracked since every transaction that is occuring in the blockchain network is being recorded in the blockchain ledger.
 
Well everyone believes that what so ever that has an advantage, most definitely has a disadvantage and that's one of the disadvantages of cryptocurrency trading. it will be very difficult to trace it sender and receiver very easily.
 
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