A new study has revealed that most crypto consumers are worried about their crypto wallets being linked to their identity.
In other words, consumers are not confident that crypto is safe enough.
According to the research, titled 2021 Privacy & Trust on Cryptocurrency Exchanges, of the 404 participants, 73% claimed that they didn't feel safe when transacting anything on the blockchain, because they feared their wallet address would become public, making it easier to pinpoint their identity.
Another 84% stated outright that a wallet simply doesn't offer enough privacy, which is one of the main selling points of any cryptocurrency in the first place. Wallets are just like nicknames, explained respondents, and they could after all be associated with the real person.
Some respondents reported cases that revealed how easy it was to pinpoint a person's actual wallet worth. “My friend made a lot of money in DeFi. He asked me to guess how much he made. I told him the exact number; he was shocked. It was because he transferred ETH to me before”, said one.
However, trust in decentralized exchanges was fairly strong, although the majority of respondents argued that reputation is the main thing they look for in an exchange. Privacy has been a sensitive issue, too. Most regulators are trying to bring more clarity into crypto tokens such as Monero, and this doesn't seem to encourage consumers.
Then again, there are some private options for you. Casinos such as Bitcasino, BitStarz and FortuneJack provide you with a fun and recreational gaming experience at maximum privacy. Go and see for yourself.