In today's digital age, Bitcoin transactions, as a form of decentralized cryptocurrency, have attracted much attention. However, with its widespread application in the financial field, a controversial topic has surfaced: Does Bitcoin trading now require a real-name system? This issue involves privacy protection, anti-money laundering supervision, security risks and other factors, which has triggered widespread discussion and controversy.

From the perspective of privacy protection, some people believe that the real-name system will infringe on personal privacy rights and undermine the essence of Bitcoin as an anonymous trading tool. They are worried that personal information may be leaked, leading to problems such as privacy leakage and identity theft. For example, in 2019, the Bitcoin exchange Binance was hacked and a large amount of user personal information was leaked, which aroused widespread attention and controversy. In addition, the real-name system may also make users feel insecure and worry about government monitoring and infringement of personal rights. In this case, some Bitcoin traders prefer to maintain anonymity to protect their privacy and security.

However, on the other hand, those who support the real-name system for Bitcoin transactions believe that this will help prevent financial crimes and money laundering activities and improve the transparency and compliance of transactions. According to some research data, global money laundering activities cause economic losses of up to trillions of dollars each year, and cryptocurrencies such as Bitcoin often become a tool for criminals to transfer funds. Therefore, the real-name system can effectively monitor and combat these illegal activities and protect the stability and security of the financial system. For example, Japan, as a country where Bitcoin is a legal means of payment, has implemented strict real-name system requirements, effectively curbing money laundering and terrorist financing activities.

In addition, the real-name system also helps to build trust and protect consumer rights. By verifying the identity of users, Bitcoin exchanges can reduce transaction risks and prevent fraud and theft. Some well-known cryptocurrency trading platforms such as Coinbase require users to complete real-name authentication to ensure transaction security and compliance. This practice not only enhances the reputation of the platform, but also provides users with a safer and more reliable trading environment.

In general, whether Bitcoin transactions now require real-name systems involves considerations of privacy protection, financial supervision, security risks and other aspects. Seeking a balance between privacy and security is an urgent problem in the current digital currency field. In the future, with the continuous development of technology and the improvement of regulatory policies, it is believed that the real-name system for Bitcoin transactions will find a more appropriate balance between privacy protection and financial security, and provide better protection for the healthy development of the digital currency market. May we find the best solution in this game of privacy and security and jointly promote the sustainable development of the digital currency industry.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Since Bitcoin was issued in 2009, rumors of Bitcoin fraud and Bitcoin money laundering have been circulating in the market. Seeing this, some newcomers in the currency circle will ask, can't we find criminals based on the real-name system? After all, nowadays, all walks of life require real-name systems, even buying a ticket requires real-name systems, so, does Bitcoin trading require real-name systems? The following currency circle editor will give you a detailed analysis of whether Bitcoin transactions require real-name systems now?

 Does Bitcoin transaction require real-name system now?

Bitcoin transactions do not require real-name systems. As we all know, many of Bitcoin's core programmers are hackers, and they are closely related to drug trafficking and money laundering. The most important thing for these people to use Bitcoin is anonymity, which is also the reason why they strongly oppose expansion, because small blocks can be transmitted more smoothly in the TOR anonymous network. But the problem is that Bitcoin runs on the Internet, and the Internet, that is, telecommunications, is controlled in any country, so in the end I think if it is to be a government-approved financial service, it is difficult to avoid anti-money laundering and real-name authentication systems, otherwise it can only go underground and rely on the TOR network to hide.

This is also a very important choice on the development path of Bitcoin, that is, to make Bitcoin a currency exclusively for criminals, or to make it a value certificate that any ordinary person can use. If it is the latter, it is almost certain that anti-money laundering and real-name systems will catch up sooner or later. After all, the code is changeable. As long as the government puts pressure on major exchanges and merchants, and then these institutions put pressure on programmers, it is easy to implement such functions.

 Bitcoin transaction process:

From the working principle of blockchain, it can be seen that Bitcoin transactions are essentially a data structure, which is a data structure in which blocks containing transaction information are connected in order from back to front. The Bitcoin blockchain is the general ledger of the world's blockchain, and each Bitcoin transaction is a public record on the Bitcoin blockchain.

The basic unit of Bitcoin transactions is unused transaction output (UTXO). UTXO is a certain amount of Bitcoin currency that can be recognized as a currency unit by the network. It can be any value, but it cannot be divided.

In the actual transaction link, the situation that the UTXO is usually greater than the amount required to be paid, then the UTXO will be reduced as a whole in the transaction, and a fraction will be generated at the same time.

For example, if A has a UTXO of 10 bitcoins and needs to pay 2 bitcoins to B, then in the transaction, the transaction input is the 10 bitcoins, which will be consumed as a whole, and two outputs will be generated: 2 bitcoins paid to B, and the remainder of 8 bitcoins returned to A's wallet.

Through the above introduction, investors should know that Bitcoin transactions do not require real-name registration. However, if Bitcoin transactions are to be carried out, investors need to conduct real-name authentication when opening an account at a Bitcoin exchange. Therefore, if investors want to ensure that they will not be deceived during Bitcoin transactions, they must choose a regular Bitcoin exchange. If you want to know more about related issues, you can pay attention to the Coin Circle. The editor of the Coin Circle will continue to update related reports in the future!