Why Protecting Our Privacy Matters More Than Ever
Risks Associated With Sharing Personal Information Online
We value privacy. It is a human right constitutionally protected.
Privacy is not immoral or dishonest to ask for.
Yet, since the launch of Facebook, social media have embarked on a crusade to eliminate privacy and expose our sensitive financial and private information.
Whenever we engage in online activities, our private data becomes vulnerable. Data leaks of personal information pose a significant risk.
Our financial status, wallet balance, ID, balances, and online accounts all contain sensitive private financial information.
Do you think it is safe to share any personal information with a stranger online? The online threats are countless.
Fraudsters have come up with numerous tactics to deceive and steal money from their targets.
Still, many individuals do not fully comprehend the implications of their online behavior, and share sensitive information on social media without considering the potential impact on their privacy.
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Mass Surveillance
“Since you’ve done nothing wrong, you shouldn’t worry about surveillance.”
This message resembles communist propaganda.
We are not asking for privacy because we have something to hide.
Quite the opposite.
We should worry more when we hear someone saying this.
Scammers maintain databases with names, addresses, phone numbers, emails, and even connected crypto wallets and bank cards.
We have to limit access to our information and make it as difficult as possible for anyone to access and link our private data.
Surveillance is a communist mechanism that spies on its people.
Nothing good can ever come from authoritarian procedures.
KYC Is A Vulnerability
For our safety, we also have to avoid all KYC procedures except the necessary.
The KYC procedure is actually a vulnerability on its own.
Its purpose was never about protecting the users of a platform but complying with faulty laws that produce more problems than what they are trying to solve.
There is no website we can trust with our privacy.
They have all had problems with hacks or insiders selling this data to scammers or putting databases up for sale in darknet black markets.
Besides that, do we trust private or state-operated websites with our privacy?
We cannot fully trust any website, so we should only share some information only when it is absolutely necessary and we have no option to circumvent KYC. And clearly we don’t have to share any private documents when asked by LinkedIn, Facebook or X.
Do we have any reason to send our identity and anything else LinkedIn asks for?
Do you think LinkedIn prioritizes privacy or security?
Data of 500 million users of LinkedIn are sold online right now.
Do you think you are safe sending your private details to anyone?
Privacy and Anonymity In Crypto
When the internet started gaining popularity at the end of the previous century, we became massively exposed to surveillance by private companies and government agencies.
Without knowing, all our Google searches are saved indefinitely, scrutinized, and then used to generate personal profiles.
That’s how Google operates, though, since the beginning.
Privacy-concerned individuals use tools such as VPNs, proxy servers, and the TOR anonymous network.
Can we have privacy with cryptocurrencies?
The Bitcoin ledger is transparent and public. It is open for everyone to perform research, connect transactions, and trace the course of money.
Tracing can occur when someone buys or sells with fiat.
There are many ways to buy crypto, yet all are traceable.
Companies with data researchers perform on-chain analysis and develop blockchain tracking tools.
The centralized exchanges provide access to their users’ private information whenever a government demands it, and with the recently created tools, blockchain analysis has become easier than ever.
Sooner or later, criminal networks will gain access to these tools.
The critical information they will obtain will allow them to target selected individuals.
However, some privacy options exist like mixing and shuffling services and some privacy-oriented cryptocurrencies contain extremely difficult-to-break encryption and obfuscation methods.
Conclusion
Maintaining our online security depends on safeguarding our privacy and anonymity.
The reasons authorities and modern websites provide to infringe on our privacy rights are not convincing anyone.
Moreover, the increase in scam activities and the leaks of private data are a threat to our digital wealth.
With a non-custodial cryptocurrency wallet, we are the owners of our funds, not the banks, or third parties.
Any breach of privacy is a threat to our finances.
Protecting our crypto wallets is as important as protecting our bank accounts, securing our homes, locking our doors, and protecting our private information.
Also Read:
Parts of this story were originally published at read.cash. Rewritten for Medium.
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