What You Need To Know To Join the UK Bitcoin Craze
Thin clients for buying Bitcoin Anonymously
You need a secure wallet for buying Bitcoins. Most thin clients leak the addresses that belong to you to the SPV (Simple Payment Verification) server that they are connected to. They don’t store the block chain publically, either.
They query a SPV server for all the transactions that have been used by the addresses in your wallet. This is faster and also more efficient than the usual block chain, but each bitcoin address that you make is submitted to your Simple Payment Verification server.
So, make sure that if you would rather trade bitcoin anonymously instead of quickly and efficiently that you don’t use a thin client. An example of a thin client is MultiBit, which is popular for being both easy to use and fast.
Hosted wallets
In some cases, hosted wallets are worse than thin clients when it comes to privacy. All of your keys (both private and public) are kept on 3rd party servers, so the operator will know which addresses you own. Plus, the operator of the 3rd party can also access any information that you submit to the server, too.
If you want to get a wallet that is a bit more secure, then you should check out some full clients, such as Armory, which is well known for being great at keeping your address and identity safe.
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