23 Jul 2020 Anthony Lehrman
Store, Transfer And Manage Bitcoin Anonymously With Bitamp
The world of cryptocurrencies is dynamic-paced and innovations in the sector happen almost daily. One of the newest additions to the innovations scene is the anonymity-oriented Bitcoin wallet Bitamp.
Bitamp is a free, open-source Bitcoin wallet that allows users to receive and send Bitcoin instantly. The difference between Bitamp and other wallet providers is that users remain in complete control of their private keys and seed.
Anonymity has been a go-to term in the world of cryptocurrencies. Coins like Monero (XMR) are chosen over other cryptocurrencies with enhanced anonymity in mind. However, being anonymous in sending and receiving Bitcoin can be hard to accomplish. Bitamp manages to bridge the gap between transparent ledger transactions and anonymous wallet holding by providing a wallet service that doesn’t store information about private keys, transactions, seed, IP addresses, or browser information.
Further, Bitamp’s Bitcoin wallet uses no email addresses or personal information. The access to any given Bitamp wallet account can be done via various browsers, or a dedicated service like VPN or TOR browser, which further enhances the anonymity.
Bitamp’s architecture relies on local, browser-based functionalities, like new wallet generation, logins, sending, and receiving Bitcoin. Bitamp has no stored information about seed and private keys, so the company urges users to write down or print seed and private keys and keep them in a safe place, as the accounts can not be recovered.
The way Bitamp operates closely resembles cold wallet operations, but with a web-based interface, where users take full control over their Bitcoin stash and the transactions they make. Transactions over Bitcoin’s blockchain usually take 10-15 minutes for full completion, as opposed to traditional banking transactions, which may be settled in a matter of days, or even weeks.
Also, Bitamp’s wallet enables users to send and receive Bitcoin worldwide, costing only pennies for transactions. The worldwide usage of Bitcoin, combined with the enhanced security of Bitamp’s wallet, gives users minimized chances of fraudulent actions.
Crypto exchanges and custodial services have been reportedly hacked over the course of their existence, leaving users with no access to their holdings, or no crypto in their wallets. Bitamp takes the thread and mitigates it, by providing users total control over their wallet.
You can join Bitamp’s service with a few simple clicks. You can choose between a seed generation option, which resembles a 12-word code to access your funds, and a private key, which resembles a 256-bit hexadecimal number. Storing your private keys and seed private is crucial for accessing and managing Bitcoin funds, as they are the only option to prove ownership of any given wallet address.
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