So I want to make sure I’m not revealing anything with my current process:
A few questions I have:
Is this the correct way to do this?
Have I sacrificed any privacy by doing it this way?
Should I wait a certain amount of time before I unshield and send to a new ETH address to maintain privacy?
Hi, welcome to the platform.
That is not exactly how it works.
Your coins are only private when they move around on the Incognito chain.
You can store them, transfer them to another Incognito account, stake them, trade them, add liquidity to trading pairs. This will all be in private mode.
Once you transfer coins from your Incognito account to an external account, your transaction will show up on the external blockchain explorer.
If you are just looking for a way to move coins from one external account to another without someone noticing the connection. Like a mixer kind of thing, then yes it would work like that.
Thank you for the explanation. I understand better now.
Should I wait a certain time before I unshield and send my ETH to a public address? I wasn’t sure if doing many transactions over a few hours was the safest way to move ETH without correlating what I’m doing.
If the amount is obscure and the input is equivalent to the output, you can look at the inbound and outbound transactions and take an educated guess. The more transactions made with Incognito, the harder it is to identify one particular transaction. Waiting some time would make it less likely for someone to see the connection. I would recommend making the input crypto different then the output crypto if you really want some hardcore privacy, but it’s unnecessary. Incognito has an exchange platform built in, using PRV.
The ETH you put in, and the ETH you take out, would be completely unrelated on the Ethereum blockchain, if thats what your asking. The only way someone would be able to find out is if they are looking at the Incognito blockchain, and both inputs and outputs are identical (in a short time period).