Anonymity is the state of, or the ability to remain anonymous, i.e. unidentifiable and/or untraceable. A concept closely tied to privacy, the ability to remain anonymous in certain cases is considered by many a fundamental human right. Bitcoin and the majority of other cryptocurrencies do not require any form of identification in order to use them, thus allowing for an anonymous transfer of money - a crucial advantage over, for example, credit cards, where a user's exact name, time and payment amount are always recorded and kept in a database.