Buy crypto anonymously on the Incognito pDEX   

Make shielding/unshielding untraceable

#1

I’m using Binance chain. I shielded some BUSD into my incognito wallet, then unshielded (withdraw) to a different Binance wallet.
To my surprise, I see you are using the same binance address to receive and send funds out.
It’s very easy to trace and match incoming with outgoing coins.

Is it possible to implement burner addresses for outgoing transactions??

Also, I keep getting the same shielding address, it’s been 3 days and every time I shield I get the same address.
Is it possible to expire and force a new address for shielding??

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#2

Hello and welcome to the forum!

Incognito uses one address for all of the coins it holds. The idea would be that with everyone depositing into the same wallet address that your coins get combined with everyone else shielding the same coin or token. If you are depositing and then withdrawing the exact same amount of coins, that is probably easy to trace. Consider using different amounts. Also, generally the longer you coins are shielded the better as more people will have a chance to go in/out of the address used for privacy.

That being said, you should also consider how many other coins are there—you want a large anonymity set. BTC/ETH/DAI/USDT/USDC are fairly large to accomplish this. I don’t know about BUSD.

Off topic: Which chain does BUSD live on in incognito system?

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#3

I’m using BUSD-BEP2 tokens (on Binance Chain), but there are also BUSD-ERC20 available on ETH.
I’ll check out the transactions on the ERC20 tokens, maybe there is more usage there which would make the mix better.

#4

Just FYI the gas costs using incognito on ethereum are very expensive. There doesn’t appear to be a lot of BUSD on ETH—I checked earlier but you can double check here.