If I sent shielded ETH from Coinbase to incognito, will Coinbase or other entities know where I sent it? No right? That’s the purpose of shielding I’m assuming. I just don’t like the idea of filing taxes. And if a governing body can’t see or track what I did with my ETH…too bad so sad for them.
Shielded funds from Coinbase to incognito
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Your transactions within the Incognito environment are anonymous, your transactions into or out of the Incognito environment will show up in the explorer of the external chain.
The transactions won’t link directly to your Incognito address, there is an Incognito “recycling” deposit/withdraw address in between.
Incognito is about anonymous transactions, not so much about hiding for taxes.
If you do want to stay under the radar, you have to keep your coins inside the environment. This won’t discharge you from having to file taxes if the laws in your country state you should.
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