Kyber Just Went Incognito – Protect Your Privacy And Hide Your Trading History
All crypto enthusiasts know how vital privacy and anonymity are these days., especially in the crypto space.
These are two of the main ingredients that Bitcoin creator Satoshi Nakamoto had in mind when he created the king coin.
Crypto as a whole runs contrary to the notion of trust in a third party, and it’s no secret anymore that privacy is an essential issue in crypto these days.
No company or individual wants to publish all their data onto a public blockchain that can then be arbitrarily read without any restrictions by the government, family members, business competitors, coworkers, and more entitites,
Kyber understood this and took an extremely important step – it just went incognito!
Kyber is the most popular DeFi protocol in the world, and it has more than $1 billion transactions. It just became the very first Etehreum DEX that decided to embrace privacy fully.
Kyber goes incognito to protect your privacy and hide trading history
On Kyber, from now on, you will have privacy for smart contracts – this is the Incognito mode for DeFi.
You will not have to compromise your identity any more or reveal your trading history ever again. The days in which you were exposing yourself are long forgotten now.
From now on, we’ll have privacy dApps, and people can now trade anonymously against the massive liquidity on the Ethereum chain.
An important thing worth mentioning is the fact that trading privately with Kyber interacts with both the Incognito and Ethereum networks – and this means that it also incurs Ethereum fees.
The great news is that most of the fees are now covered to celebrate this great launch, and to avoid dust trading a 3 PRV fee will be fixed for each one of the trades.
You can now turn on privacy for Ethereum’s favorite DEX with a couple of taps and all enthusiasts will have to do is download the Incognito app and strat trading anonymously.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.