5 Bitcoin Best Practices

Quick post today covering some best practices to maintain your privacy with Bitcoin. This is not an exhaustive list - rather some fundamental actions you can take to help maintain your pseudonymous status. Feel free to download the infographic and share as you like!

1. AVOID KYC

   1. KYC or Know Your Customer processes (typically required with a Centralized Exchange) can link your Bitcoin addresses to your personal identity. Consider buying and selling your Bitcoin from a non -KYC source to mitigate this risk.

2. BUY ANONYMOUSLY

   1. Platforms like Hodl Hodl, Paxful, Peach Bitcoin, RoboSats and my favorite - Bisq can be used to purchase Bitcoin without KYC. ATMs and in person exchanges with friends for cash work too.

3. SECURE YOUR SATS

   1. Control your private keys to ensure you control your Bitcoin. Wallets like Samourai Wallet and Blue Wallet for mobile and Sparrow Wallet for desktop can be used for this purpose.​

4. NEVER USE THE SAME ADDRESS TWICE

   1. Use a new Bitcoin address each time you send or receive a payment. This isolates each of your transactions in a way that it’s not possible to associate them all together​.

5. LIGHTNING NETWORK

   1. Bitcoin transactions are broadcast. Everyone can look at them through a block explorer. Lightning transactions on the other hand are done off-chain between two parties.

As I mentioned this is by no means an exhaustive list, but it is a good foundation to build form and I certainly wish I had known these when I first began my journey with Bitcoin! Thats ok however -it is possible to start fresh so to speak. I’ll be covering this i a future post as I migrate from my Ledger devices to another solution that I am excited to try! Stand by……

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