Coinbase, Exchanges

Can Coinbase Transactions Be Traced?

If you’re using Coinbase to buy or sell bitcoins, know that your transactions are not anonymous. Coinbase is a US-based exchange, and US lAWS require exchanges to collect identifying information from their users.

When you sign up for a Coinbase account, you must provide your name, address, and email address. You will also be asked to provide proof of identification, such as a scanned copy of your driver’s license or passport.

NOTE: WARNING: Coinbase transactions can be traced. Coinbase stores and processes transactions on its network, which makes it easier for law enforcement to trace transactions. If you are using Coinbase to conduct any type of illegal activity, you may be at risk of being discovered. It is highly recommended that you use alternative methods to conduct such activities in order to remain anonymous.

Once you’re verified, you can link your bank account or credit card to buy or sell bitcoins.

All Coinbase transactions are public on the blockchain, which means that anyone can see the details of the transaction including the sender’s and recipient’s wallet addresses and the amount of bitcoins exchanged. However, Coinbase does not publicly display its users’ names or other personally identifying information.

So while Coinbase transactions are not anonymous, they are pseudonymous. If you’re looking for true anonymity, you’ll need to use a different bitcoin exchange or find a way to mix your coins before sending them to your wallet.

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