Here you will find our extensive collection of cryptocurrency FAQs. If you can’t find the answer here, then you can submit your own question(s) and answer(s) at the bottom of this page. Or you can simply write a comment regarding any of our existing cryptocurrency FAQs.
In many cases, such as questions about taxation and regulation, the detailed answer is country or state-specific so we are unable to give you the full answer in one little faq, but we will try to point this out.
Other questions, such as those regarding cryptocurrency safety and security, often depend on how the cryptocurrency is being used.
Other answers depend on the exact cryptocurrency coin in question. For example, what may be true for bitcoin may not also be true for Ethereum.
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Privacy (2)
The tracing of cryptocurrency transactions largely depends on the cryptocurrency in question. For instance, Bitcoin is easier to trace than the Zcash and Monero currencies. Data associated with cryptocurrency transactions are stored in public ledgers. This leaves a forensic trail that can reveal historical transactions. But note that this tracing generally does not directly reveal personally identifiable information, such as an individuals name, address, phone number. Although, at times your IP address could be revealed.
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A majority of cryptocurrency transactions aren’t entirely anonymous but are instead “pseudonymous”. This means that your transactions itself can be viewed on the blockchain by anyone, such as how much currency was sent and some other data, but your personally identifying information is not attached to your transaction. Cryptocurrency transactions such as bitcoins are associated with a deposit address thus creating the notion of an “identity”. But that address does not directly identify you. It takes a lot of work and luck to be able to associate a deposit address with a real person – but it is possible. There are a few cryptocurrencies which have been designed to be even more anonymous, such as Monero, zcash, and dash,
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