#5 — This is the fifth post in our “Blank in Action” series. In this series, we explore realistic and helpful ways to use Blank Wallet after the upcoming release.
In last week’s post, we delved into how Blank Wallet can be used to achieve privacy when buying and selling non-fungible tokens (NFTs). While interest in NFTs continues to soar, the majority of token trades on blockchains are in fungible tokens. Trading is the act of speculating on price movements in the cryptocurrency market. Currently, the market experiences large-scale cycles of growth and decline fueled by cryptocurrency traders.
While for many, trading can be an excellent source of income and a path to financial freedom, it comes with its own set of drawbacks. The public nature of blockchain has an Achilles heel: a complete lack of privacy. Cryptocurrency is quickly evolving from a speculative asset into something that can solve real-world problems, yet privacy concerns can stem adoption and hinder users. It’s essential to eliminate such concerns and break down barriers to entry.
Blockchain’s Achilles Heel: Privacy
Let’s use an example. Greg is a full-time cryptocurrency trader. He’s been involved with cryptocurrency for years and has been able to earn an income through trading. While he loves the financial freedom that trading offers, he faces an array of challenges and concerns. One of his major concerns is his privacy.
On blockchains, transactions are visible to everyone and connected to the wallet addresses that made them. Every time Greg makes a trade, he leaves a digital trail of information linked to his own wallet address. As someone deeply invested in cryptocurrency, Greg worries about prying eyes following his trading activity. With a lack of privacy, it’s simple for interested parties to use publicly available information to Greg’s detriment.
Traders have a lot of eyes on them, as onlookers try to gauge the sentiment and direction of the market. Greg’s trading strategies may cease to be successful if the wrong person becomes aware of them. Other cryptocurrency traders often respond to big trades, and this could result in Greg being targeted. In a worst-case scenario, someone could even target Greg with front-running bots to profit from his trades. Even if Greg made a new address and moved his funds to it, onlookers would be able to track his new address via outgoing transactions. Greg needs to safeguard his privacy, and without it, he feels at risk and not completely comfortable making financial decisions.
Trade Privately, Go Blank
Greg and millions of users could benefit from taking back their privacy. With full control of his privacy, Greg would be less at risk and could enjoy the benefits of trading cryptocurrency without any overarching concerns. Privacy allows traders to make beneficial financial decisions, without compromises
Blank Wallet lets users take back control of their privacy on the blockchain. Funds are rendered untraceable after being mixed in privacy pools that obfuscate their origins. They remain accessible and visible to users while being hidden from others. Blank Wallet allows users to deposit cryptocurrency to fresh addresses that are not linked to their portfolios in any way.
Greg could use Blank Wallet to make multiple fresh addresses and split his trading activity between them. Splitting his funds between different wallets would make Greg’s trading activity difficult to follow for bad actors. Greg’s new addresses would have unknown origins, making it impossible for anyone to link them to his previous addresses or personal portfolio. With Blank Wallet, Greg could seamlessly transfer funds between his different addresses without leaving a trail of information that could be used against him.
Millions of users have become jaded by years of privacy infringements. Privacy is becoming more valued in a world where it’s difficult to attain. Blank Wallet is filling this increasing demand by allowing users to take back control of their financial privacy. Once free to make financial decisions without privacy concerns, everyday people can reap the benefits of cryptocurrency and blockchain.
About Blank Wallet
Blank is the most private, non-custodial Ethereum browser extension wallet.
Blank allows the user to easily interact with privacy smart contracts on Ethereum to hide the amounts and the origins of cryptocurrency held, in a decentralized, non-custodial, and frictionless manner.
Blank solves the problem of privacy in crypto transactions. Each time you want to make a withdrawal, Blank will create a new wallet address for you with the amount of crypto that you requested. This address originates from the smart contract where everyone’s funds are pooled. All of this is achieved using cryptographic proofs to ensure that the user cannot be linked with the original depositing address.
With crypto transactions increasing, on-chain transaction privacy is being highly discussed to keep you safe from exposing yourself. Blank has developed a system that adds the ultimate protective layer to your crypto transactions while facilitating every function that other wallets offer.
Anyone can easily install Blank and start reaping the privacy benefits in no time at all. Besides the smart contract functionality, Blank wallet offers a higher level of privacy due to Tor integration. Upcoming functionality includes DeFi web3 integrations as well as support for Metamask Snaps Plugins to allow for seamless connectivity and usage.
Reclaim privacy on your Ethereum transfers. Go Blank.