For business
KYT office
Compliance solution to monitor risks, detect sanctions and ensure AML rules.
KYT office
Compliance solution to monitor risks, detect sanctions and ensure AML rules.
AML certification
How industry players can get up-to-date knowledge and professional certification.
AML certification
How industry players can get up-to-date knowledge and professional certification.
Comprehensive transaction analytics that helps to build graphs and trace funds.
Graph
Travel rule
(soon)
For personal use
Telegram bot
Bot for checking crypto for risks, providing AML reports.
Telegram bot
Bot for checking crypto for risks, providing AML reports.
Getting money back
Services are focused on tracking
and recovering crypto assets.
and recovering crypto assets.
Getting money back
Services are focused on tracking
and recovering crypto assets.
and recovering crypto assets.
Docs and reports
All types of documents related
to cryptocurrency.
to cryptocurrency.
Docs and reports
All types of documents related
to cryptocurrency.
to cryptocurrency.
Portfolio tracker
Information about all assets and risk assessment in one place.
Portfolio tracker
Information about all assets and risk assessment in one place.
AML checks
Сhecking wallets and transactions
for illicit funds.
for illicit funds.
AML checks
Сhecking wallets and transactions
for illicit funds.
for illicit funds.
AML-сертификация
Актуальные знания в области AML/KYT от ведущих экспертов отрасли.
AML-сертификация
Актуальные знания в области AML/KYT от ведущих экспертов отрасли.
Graph
Визуализация перемещения активов
и связей между кошельками.
и связей между кошельками.
Graph
Визуализация перемещения активов
и связей между кошельками.
и связей между кошельками.
KYT Office
Мониторинг транзакций и кошельков для вашего отдела комплаенса.
KYT Office
Мониторинг транзакций и кошельков для вашего отдела комплаенса.
Для себя
Для Бизнеса
Travel rule
(Cкоро)
Телеграм-бот
Бот для проверки кошельков и транзакций с выдачей отчётов.
Телеграм-бот
Бот для проверки кошельков и транзакций с выдачей отчётов.
Возврат средств
Услуги по отслеживанию и возврату украденных криптоактивов.
Возврат средств
Услуги по отслеживанию и возврату украденных криптоактивов.
AML-проверки
Проверка кошельков и транзакций на наличие "грязной" криптовалюты.
AML-проверки
Проверка кошельков и транзакций на наличие "грязной" криптовалюты.
Портфолио трекер
Информация о всех активах и оценка рисков в одном месте.
Портфолио трекер
Информация о всех активах и оценка рисков в одном месте.
Отчёты
Все типы документов связанные
с криптовалютой.
с криптовалютой.
Отчёты
Все типы документов связанные
с криптовалютой.
с криптовалютой.
Why keep track of crypto transactions?
Crypto transactions are generally considered to be more anonymous than traditional financial transactions. But are crypto transactions traceable at all? Yes. This is because each transaction is recorded on a public ledger known as the blockchain. The blockchain is a decentralized and distributed ledger that records every transaction made on a particular network. Each block in the blockchain contains a list of transactions, and once a block is added to the blockchain, the information it contains is considered to be permanent and unchangeable. This means that anyone can see the transaction history of a particular cryptocurrency, as well as the current balance of any address on the network.
However, it's worth noting that the traceability of crypto transactions depends on the level of anonymity provided by the specific cryptocurrency and its underlying technology. For example, some cryptocurrencies, like Bitcoin, are more traceable than others, like Monero, due to the specific way they use the blockchain. Additionally, there are also methods like Coinjoin and mixers that can be used to obscure the origin of the funds, making it harder to trace the transaction to a specific individual.
This leads to another problem. You may not notice yourself acquiring crypto, which may have been spotted in illegal activity. We have already written about it in more detail. In short, the purchase of suspicious cryptocurrency threatens to block the wallet. Therefore, you should keep an eye on your cryptocurrency transactions.
Overall, keeping track of crypto transactions is important for several reasons:
However, it's worth noting that the traceability of crypto transactions depends on the level of anonymity provided by the specific cryptocurrency and its underlying technology. For example, some cryptocurrencies, like Bitcoin, are more traceable than others, like Monero, due to the specific way they use the blockchain. Additionally, there are also methods like Coinjoin and mixers that can be used to obscure the origin of the funds, making it harder to trace the transaction to a specific individual.
This leads to another problem. You may not notice yourself acquiring crypto, which may have been spotted in illegal activity. We have already written about it in more detail. In short, the purchase of suspicious cryptocurrency threatens to block the wallet. Therefore, you should keep an eye on your cryptocurrency transactions.
Overall, keeping track of crypto transactions is important for several reasons:
- Security:By keeping your crypto in a wallet, you have control over your private keys and can ensure the safety of your assets. This is especially important when dealing with large amounts of cryptocurrency.
- Accountability:Keeping track of your transactions allows you to keep track of your spending and investment activity, which can be helpful for tax and accounting purposes.
- Traceability:While crypto transactions are generally considered to be more anonymous than traditional financial transactions, they are still traceable. This is because each transaction is recorded on a public ledger known as the blockchain. This traceability can be beneficial for tracking down fraudulent activity, but it also means that anyone can see your transaction history.
- Compliance:Keeping track of transactions can help you to ensure compliance with various laws and regulations, such as AML/KYC.
- Transparency:Having a clear record of transactions and balances can be useful for auditing and reporting purposes.
- Overall, keeping track of crypto transactions is essential for maintaining control over your assets, staying accountable for your spending and investment activity, and ensuring compliance with various laws and regulations.
You can easily monitor your transactions with the BitOK service. For example, if the bank or exchange will have questions about the transaction for 11.25.2020 and requests a proof of funds document - it can be found easily:
- go through a simple registration process;
- add your wallet;
- go to the documents tab and choose "New document";
- from the list of documents select "Proof of source of founds";
- select the sources of the transactions that you want to include in the document, period of transactions, document language and type of transactions.
Your proof of source of funds document is ready! Moreover, you can check all transactions for AML risk in the AML Risk tab if you are unsure of the source of the transaction.
