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 Bitcoin, or an alternate cryptocurrency (Altcoins). It’s quite simple, but you’ll need to keep your assets from loss with a genuine wallet.
In this guide, I am going to show you how to hide money with any cryptocurrency of your choice easily and safely.
Hiding your money with crypto
Hiding money with cryptocurrency is quite simple, but not for beginners, as you stand a chance to risk 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 purchased and hidden your money for the first time with a crypto-coin!
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.
Frequently Asked Questions
Hiding money with cryptocurrency
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 very long time, I’ll suggest you write a will – incase of unforeseen circumstances that may arise in future.
Do not forget to always keep your investments in an offline cryptocurrency wallet, as it’s the best way to keep your funds away from the internet hacks and thefts.