Spend Algorand Anonymously
It is uncomfortable to discover that some people can monitor how you spend your Algorand. Third parties can view your wallet address, the recipient’s address, and the amount of Algorand you spend. Sophisticated technology easily tracks Algorand addresses, transaction hashes, and block numbers.
Furthermore, your exact location can be tracked using your IP address. There have been many ways to make Algorand transactions anonymous, yet they are somewhat traceable. That is why Algorand is currently pseudo-anonymous.
There are various methods and platforms to use online that can help you prevent this unwanted monitoring. This article will teach you how to spend Algorand anonymously without third-party surveillance.
Spending Algorand Anonymously
Every transaction made on the blockchain is stored publicly. It reveals the sender’s address, which is you, and the address you received it from.
It also reveals the recipient’s address and the amount that was transacted. The best way to make your identity unknown is not to use your name or anything that can be linked back to you.
You can make spend Algorand anonymously by following these instructions:
1. Load an anonymous debit card
The most secure, reliable, and fastest way is to acquire a Plasbit debit card. The Algorand card lets you pay online with crypto and fiat currency while retaining anonymity. They do not require any personal information from you.
2. Cash is completely anonymous
It can never be tracked back to you. You retain your privacy when you buy and sell Algorand with cash. With a Plasbit Algorand debit card, you can withdraw money on ATMs and POS machines.
3. Hide your IP address with TOR
‘Tor’ is a web browser; unlike Chrome, it makes your online traffic anonymous. It hides your IP and connects anonymously to the Algorand network.
Every transaction made using ‘Tor’ is obscured and unreachable. Thus, your identity is completely hidden.
4. Use Protected Email
Email encryption is not strong enough for fraudsters. So, it is advised that you use secure emails and encrypt the messages before sending them. This way, you can make unidentified Algorand transactions.
5. Don’t use a wallet address twice
Although Algorand transactions are more pseudo-anonymous, having different transactions from your wallet can give a lead back to you.
The most efficient way to spend Algorand anonymously is to have a cryptocurrency bank account. The best crypto bank is PlasBit. It does not require KYC, so no transaction can be linked back to you.
They only require identification for some essential operations you make on the platform. This makes cryptocurrency banks unique and the most recommended above other methods.
So, whether you are paying directly with Algorand or any other cryptocurrency or fiat, PlasBit is the most secure and anonymous platform to spend and buy your Algorand The advantage of PlasBit cards is that other crypto cards have low card limits, you can have up to $10,000 on the card balance. You can use it anywhere Visa and Mastercard are accepted.