Electrum Wallet’s Anonymity Feature Will Promote Illegal Use of Bitcoin Plus

When you have worth of real currency, you aim is to keep it safe and you don’t disclose it to the public, but your banks have details of your worth what you deal with all banks. The government and tax authorities know what you hold and transact with banks. Cryptocurrencies are insulated by the digital transaction technology that offer anonymity to the transactions. Muddying what you call is the manner which maintains obscurity in these transactions. Privacy and confidentiality is important in all investments, but the purpose is to avoid the risk of thieves and anti-social elements. The cryptocurrency need privacy with a different purpose and that is illegal nature of transactions.

Bitcoin Plus wallets and privacy
Bitcoin Plus is considered as best alternative to most popular Bitcoin cryptocurrency because of anonymity by Bitcoin Plus Wallet. The investors have more trust in its wallet as XBC Electrum Wallet has been rated high for more anonymity because of TOR software and faster transactions. On one hand privacy of Bitcoin Plus transactions is a positive factor from the perspective of its intended users but on the other hand, this has negative impact on dignity of the transactions. Anonymity means concealment of transaction details. No doubt, this has an advantage to the user, but this will promote illegal transactions once people have convenience to hide their transaction details. This raises a question on the working of this wallet and creates controversy over its effective performance.
Illegality concern
Illegality is a real concern for the use of Electrum XBC because it will facilitate money laundering, smuggling, skin trade, and more criminal activities as well as illegal trades. Use of TOR has not been legally validated and how can a software that make use of TOR can have the legal status. Nobody has taken a serious view of this aspect, but critical thinking is needed to prevent illegal use of this new wallet for Bitcoin Plus.

Leave a Reply