Cloud Mining Is Best Choice for Anonymity of Your Transactions

Cloud Mining Is Best Choice for Anonymity of Your Transactions

Introduction of cryptocurrency

The government of every nation trusts in real currency because every currency, whether US Dollar, British Pound, Euro of European Union, or currency of any other nation is completely regulated by the country’s government. In the past, people had trust in real currencies and used to trade in popular currencies like dollar, pound, or euro but the trend has changed since launch of Bitcoin, the first digital currency or say cryptocurrency that was not minted or printed in any government mint or press. Bitcoin has worldwide existence in unregulated form because it is a decentralized cryptocurrency not transacted through a central bank of the country. Bitcoin was followed by other forms of cryptocurrencies jointly called altcoins but exist in distinct names.

Why crypto use is highly prevalent

Although governments may not be interested in existence of Bitcoin or other crypto coins, but stopping their use is not feasible for the governments because of mounting interest of investors who look crypto investment as better choice over stocks or forex trade. The Bitcoin and some altcoins like Litecoin are, therefore, finding extensive acceptance among crypto community in the modern time because they find easy to prevent tracking of their transactions by using any crypto coin. Bitcoin or altcoin use is, therefore, more appropriate for illegal transactions and money laundering and highly prevalent in underworld. Bitcoin mining is preferred by most people involved in crypto trade.

Crypto transactions are not actually safe

Do you think that Bitcoin or altcoin use could be ceased failing its regulation? The government has powers to derecognize any currency or not to accept for transactions and there is least possibility that cryptocurrency will get recognition in near future but its use can’t be stopped. There are reasons because crypto currency is not country-specific and has no physical existence. The transactions are not transparent because only a user can have access to the transactions through private key code. This is what considered about use of cryptocurrency but realty is something else. Hacking incidents have also been reported in the past for Bitcoin or other crypto coins. The privacy and security aspect of cryptocurrency is, therefore, doubtful. It means that digital wallets to secure crypto units and crypto exchanges for trade can’t provide assurance of anonymity and security.

Cloud mining for anonymous transactions

For those, who are interested in Bitcoin or other crypto coin mining but have fear of leaking their identity, the solution is available in the form of cloud mining. This is a mixing method that conceals your identity by mixing your crypto units with those of others by a cloud system maintained by the cloud service provider. Whether you own Bitcoin or Litecoin, mixing your coins in cloud is no problem. You can use Bitcoin cloud mining or cloud mining Litecoin in the same manner and with same levels of privacy and security. The responsibility of safe transactions lies with your cloud service provider.

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