The importance of anonymity and privacy in cryptocurrency

[uptrendfinancialsignal]

Cryptocurrency membership expansion brings increasing scrutiny toward the issue of privacy as well as anonymity. Personally, the privacy feature is one of the reasons I prefer using crypto for my financial transactions. No third party interfering on how I spend my money. What are the importance of anonymity and privacy in cryptocurrency?

 

[magnus2022]

I think it is the anonymity and privacy that makes cryptocurrency what it is today. People want to have full control over their finance without government interference. Anonymity gives cryptocurrency users ability to use their money without government restrictions and interference. Secondly, cryptocurrency is synonymous with speed. If you want to send money anywhere in the world, you will bypass all the unnecessary government procedures.

 

[Kross]

The balance though is that if crypto enthusiasts wants the crypto system to be integrated into mainstream financial systems, they should be ready to give up some of the anonymity that the crypto space already has. Governments would want to regulate crypto exchanges to some extent of crypto would go mainstream.