Every BTC has a publicly visible history, that makes some coins "tainted" and AML tools reject them or you will get into trouble for things previous owners of your BTC did, for example, gambling or darknet markets.
This also affects many BTC you buy on P2P platforms.
Hi, would you mind telling me which wallet do you use for receiving and sending sats, plz?
i use several different wallets on phone and desktop
So, I imagine a mixture of custodial and self-custodial wallets then. Im just wanting to decide for a beginner like me, using a custodial wallet won’t hurt much.
Custodial wallets make lazy. If you start custodial you'll keep it that way until you lose it.
Alrighty. Thanks for getting back to me!
the provider of the custodial wallets sees and stores all your transactions, exactly like a bank. Furhermore, they know the address you funded your custodial wallet from - so they can also analyze what you did with your coins in the past. You have zero privacy when you use custodial wallets.
If you want fungibility and privacy, BTC is not what you want to use.
Thank you. In that case, the so called “silent payment” option for Bitcoin transactions in Cake Wallet is just “privacy” in name, not in function?
