Money can be hidden from family members and authorities using cryptocurrency.
Some people use different methods to hide their fiat assets from their spouse, during dating or in marriage.
But using cryptocurrency is more secure and safe.
You can hide money in crypto, and it’s quite simple, but you’ll need to keep your assets from loss with a secure cryptocurrency wallet.
In this guide, I will show you how to hide money in cryptocurrency (i.e. Bitcoin and Altcoins) from certain kinds of people easily and safely.
How to hide money with cryptocurrency
Hiding money with cryptocurrency is quite simple, but not for beginners, as you stand a chance of losing everything at an instance.
However, keeping your funds hidden with crypto assets can be better than keeping it in a private bank account.
Below is the process to perfectly keep your money hidden with cryptocurrency…
- Register account on an exchange (e.g. Binance)
- Fund the exchange with your money
- Purchase Bitcoin or Ethereum
- Exchange it for any privacy coin
- Transfer the coin to a wallet (e.g. Ledger).
Congratulations… you have successfully hidden your money for the first time with a cryptocurrency!
Best places to hide money with crypto
These methods I am going to list out are the ways I personally use to keep my money away from the eyes of some people.
1. Cryptocurrency wallets (Best)
Crypto wallets are the most private place to hide your money, when you’ve already bought a coin of choice.
However, it’s not all of them that is secured enough to hold your investment for the long-term strategy, as there are different kinds of wallets in the market.
These type of wallets are well known to be among the most private, anonymous and secure due to their HD (Heuristic Deterministic) feature.
2. Cryptocurrency exchanges
Though, it’s not good to keep your investment on an exchange, but it’s yet another place, where you can store your coins for short-term purposes.
Reason being that many hackers do target popular exchanges, and if they succeed, your investment may be lost for life.
Meanwhile, if you only want to hide your cryptocurrency funds for a short period, then you can use any of the best cryptocurrency exchanges available.
Is crypto a good way to hide money?
In many cases, the best-known cryptocurrencies are often the easiest to uncover, such as Bitcoin and Ethereum.
Other cryptocurrencies may offer higher levels of anonymity; however, in many cases, those assets are less valuable and more volatile than the better-known and expensive digital currencies.
However, all crypto-coins are the most anonnymous way to keep your money from the eyes of people and government.
Which cryptocurrency is untraceable?
Monero’s rise to prominence as a leading anonymous cryptocurrency was not caused by only one factor.
Instead, Monero uses many techniques to provide the highest level of anonymity, but majority of the transactions are open to the public.
Monero’s transactions as at the time of writing are untraceable, but you can still checkout some other anonymous cryptocurrencies.
What is the most untraceable crypto wallet?
At this point, you’re supposed to have understood the process involved in hiding money away with the use of cryptocurrency.
Hiding cryptocurrency from people, family, partner or spouse is not a crime, but you have to do it with the mind of no guilt.
If you must hide your crypto investment for a long time, I’ll suggest you write a will, incase of unforeseen circumstances that may arise in future.
You should always use a hardware wallet to store crypto assets for the long-term purposes, because they’re most secured from internet hacks and thefts.