CryptoBank acts as an anonymous payment system. At the same time CryptoBank is the most transparent payment system in the world. If use the service correctly, CryptoBank can provide the necessary level of privacy. Do not forget that in order to protect your personal data, it is worth using only the best practices.
To protect your personal data when you use CryptoBank you will need to make some actions. Since all transactions in CryptoBank publicly and permanently distributed over the network, everyone can watch the balance and transactions of any CryptoBank coins address. However, the user identity behind an address remains anonymous until then you complete the payment or others. This is one reason why you should not use the addresses CryptoBank more than once. Do not forget that the using of best practices protection your privacy, first of all, is the guarantee of your security. Read more about the personal data protection.
About CryptoBank transparency
CryptoBank has an unprecedented transparency, which most people simply are not used to. All CryptoBank transactions stored in the blockchain are public and tracked. CryptoBank addresses include the information that makes it possible to understand the location of CryptoBank coins, as well as the location of their sending. These addresses are generated by each user’s wallets. However, after using any of the addresses, the address is tied to the history of all transactions in which it has participated. Everyone can watch the balance and transactions of the addresses. CryptoBank addresses are not completely anonymous because the users usually have to reveal their personal information to obtain services or goods. In this regard, to preserve confidentiality, addresses CryptoBank should be used only once, and the user should be careful.
To receive payments you should to use the new address
To maintain confidentiality, you need to use the new CryptoBank address every time you want to obtain payment. Also, you can use a separate wallet for each individual target. In this case, nobody will be able to link your transactions with each other. People that send their funds, will not be able to know what wallets you own. Always remember this, this point is very important.
Be careful using addresses to public place
Of course, if public donations or payments with full transparency are not your main objects. Publish your address in a public place, such as a web-site or social network is not a very good idea in terms of confidentiality. But if you do decide to take this step, don’t forget that if you transfer any amount of funds from this address to another one, your actions will be recorded in the public blockchain history. It’s also possible you should not publish information about your transactions and purchases that will allow calculate the CryptoBank address that you own.
Your IP can be tracked
Because CryptoBank is a decentralized network, everyone may watch transactions’ relays and log their IP addresses. The node shows all the transactions of users along with their. This means that the source of any particular transaction can be tracked, but any node CryptoBank can you mistakenly take for a transaction source, although it isn’t. To hide the real IP address of computer may help, for example, such tool as the Tor browser. When used software was developed to increase of user privacy level, to track is minimized.
To improve privacy due to mixers
Some online services called coins mixers or tumblers propose to improve the level of privacy by distribution the same coins between different users with independent CryptoBank addresses. Noteworthy that the legality of using such services depends on the rules of the jurisdiction in which the user is located and is subject to different legislation in different countries. Such services also involve a trust exchange, so you exchange your funds at your own risk. Because the user can’t be sure that his funds will not be lost or stolen, and your requests are not subject to accounting. Even if such services may prevent to follow up privacy for small amounts, in the case of large transactions, it becomes harder to do.
Privacy improvement plan
The development has a number of changes that improve privacy. For example, efforts to change payment API aims to prevent the distribution of payment addresses, thereby neutralizing any connection between them. In the user interface, you can add convenient functions of the payment request and thus prevent re-use of addresses. Also Cryptobank Core are working on implementing other features that potentially can enhance privacy, such as the ability to join random users transactions and also replacing the coins in the coins sent to the user on the new wallet you just created in exchange for replaced coins received from the storage.