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submitted 1 week ago by EfreetSK@lemmy.world to c/eli5@lemmy.world

So my understanding is, you have a wallet, that wallet has a hash ID and thus is basically anonymous. But if someone connects that ID to you, you aren't anonymous anymore.

I heard you should use a new wallet for every transaction. But if I send money to the new wallet from my personal wallet, won't that be on blockchain forever? Thus making it identifiable? Or if I send euros/dolars to my new wallet, won't that connect me to the new wallet?

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[-] revv 5 points 1 week ago

It's not. It's at best pseudonymous. You are correct that every transaction is perpetually traceable. If you want anonymous crypto, look toward something like monero.

this post was submitted on 28 Mar 2025
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Explain Like I'm 5 (ELI5)

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Easier to type out this way

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