CipherTrace: A Way To Check The Transactional History Of Bitcoin

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This week I want to share some details on how you can check the transactional history of any Bitcoin you might own.

Why would you want to do that?

Well, if you’re investing/holding Bitcoin in the professional money management space, you will need to comply with anti-money laundering regulations (AML). This is especially true if you want to create your own investment fund.

Checking the transactional history of traditional assets is fairly simple. But with cryptocurrencies like Bitcoin, it’s much more difficult because of their decentralised nature.

Fortunately, we use a new tool called CipherTrace to help us get around the problem. Here’s how it works:

Step One: You can now risk assess the transaction history of any Bitcoin you hold.

Step Two: CipherTrace uses advanced algorithms to calculate risk levels based on suspicious addresses and wallets. The software also profiles hundreds of global exchanges, ATMs, mixers, money laundering systems, gambling services and known criminal addresses to score transactions and assess risk.

Step Three: CipherTrace then assigns risk levels to transactions based on activity related to suspicious addresses and wallets.

Do you need to check the transactional history of your Bitcoin?

If you want to use CipherTrace, just email me. I’d be happy to talk you through how it works in further detail.

Thanks for reading – I’ll be in touch next week with some more content.