Are Bitcoin Transactions Traceable?

Bitcoin Transactions pic

If you’re planning on investing in cryptocurrency like Bitcoin you may be wondering if Bitcoin transactions are traceable and the answer to this question is yes. Bitcoin transactions are traceable because they are stored in the Bitcoin network.

Bitcoin Is A Transparent Payment Network

The Bitcoin network prides itself in being one of the most “transparent” payment networks in the world because every transaction is tracked and recorded in the Blockchain so there’s never any question regarding transactions because there’s going to be a record to back up the transaction.

Besides having the transaction tracked in the Blockchain, all transactions are also tracked via the user’s wallets because each Bitcoin Wallet has an actual wallet address that can also be used to track the history of a transaction.

Tips for Using Bitcoin Wallets

If you plan on using Bitcoin to conduct multiple transactions, the company advises users to use multiple Bitcoin wallets because they ensure that they will be able to keep their transactions separate and also make it difficult for people to tie those wallet addresses together.

Don’t want to use a Bitcoin wallet? The good news is that there are a wide variety of other wallets that you can use in this day and age.

The 7 best Bitcoin wallets of 2019 include:

  • Coinbase
  • Trezor
  • Electrum
  • Blockchain.info
  • Robinhood
  • Exodus
  • Mycelium

Before investing in Bitcoin make sure that you look at this as a long-term investing strategy and are prepared to hold onto your Bitcoins as the market soars back to the high’s that it reached in 2017.

Got questions about Bitcoin? Feel free to leave us a comment below!

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