You can always shield (anonymize) your crypto by depositing it in your Incognito account. But if you bought it somewhere else, there’s likely a record of it.
Buying crypto anonymously
If you want to buy crypto anonymously, use the Incognito DEX. With transaction fees lower than nearly any other popular blockchain, and totally decentralized confidential trading, it’s never been this affordable or safe to buy BTC, ETH, XMR, etc. privately.
Let’s open up your Incognito app.
Buy BTC, ETH, etc. anonymously
With the update on May 25th, 2020, the need to deposit funds into the DEX was removed. Now, you can trade funds from any of your Incognito accounts.
You can trade anonymously for any other supported crypto with liquidity. The exchange rate depends on the liquidity of the pair you trade, so pay special attention to how much of your desired currency you’re quoted to receive, and the slippage rate.
Trade your USDT for your desired cryptocurrency.
Tap “Trade” from the home screen.
Choose your assets
In the top section, select USDT, and enter the amount you want to trade (remember to leave enough for the transaction fee). In the bottom, select the coin you want to receive. For demonstration, we’ll do bitcoin.
Check the rate, then click “Preview your order”
When you enter the amount of PRV you want to trade, the amount of pBTC you will receive is automatically calculated based on liquidity. Double check that the price is accurate, and then click “Preview your order”.
Check amounts and the fee, then confirm
One more time, ensure the rate is accurate and that slippage is minimal. Verify the fee. Then, click “Confirm”
Wait for the transaction to process
Wait for the transaction to process, then go about business as usual. In a few minutes, your new coins will show up in your account!
You’ve now successfully purchased crypto anonymously using USDT. Way to take your privacy back!
Once you’ve completed those steps, you can send your crypto anonymously anywhere in the Incognito network, or unshield them by sending them to another wallet. You can even trade them again, to anonymously buy other crypto. The possibilities are endless!