Bridgefy Wallet gets its amount privacy from the Liquid Network, not from anonymity. Those are very different things, and the difference decides what you can reasonably expect. This post takes it apart.

Liquid is a Bitcoin sidechain, launched by Blockstream in 2018 and built on the open-source Elements codebase. A sidechain has its own blocks and its own consensus rules, but assets can move back and forth with the Bitcoin mainchain.

• Blocks arrive about once a minute, signed in rotation by a federation of functionaries rather than mined by proof of work—so there are no reorgs to worry about and confirmation times are predictable.
• Lock BTC into a peg-in address and you receive L-BTC on Liquid at 1:1. A peg-in takes 102 Bitcoin confirmations.
• Beyond L-BTC, Liquid supports issued assets—USDT has a Liquid version, which is the direct reason Bridgefy uses it.

Two things: the amount, and the asset type. Instead of writing the amount into the transaction in the clear, Liquid writes a Pedersen commitment and attaches a range proof showing that the hidden number is not negative and that the inputs sum to the outputs. A verifier can confirm the books balance without ever reading the number.

Put another way: a full node can still independently verify that no money was conjured out of thin air, and that verification requires trusting no one. Only the number itself is hidden.

• The transaction graph: which output was spent by which transaction is fully visible on-chain.
• Addresses: both sides are still written to the chain.
• Input and output counts: how many of each a transaction has is visible.
• Timestamps: when a transaction was included is visible.

Mostly a different trust model. Bitcoin mainchain security comes from not having to trust any particular party; the Liquid peg needs the federation to cooperate before assets can move back. That is an explicit trade-off, not a free performance win.

• Federation trust: a peg-out needs functionaries to cooperate. This is the biggest difference from Bitcoin L1.
• Smaller ecosystem: fewer services, exchanges and tools support Liquid than the mainchain.
• Larger transactions: range proofs take space—though Liquid fees are low enough that you will not feel it.

Once you hand out a receiving address, the other side can see how many payments moved through it and which addresses you deal with—but not how much any of them was, and not how much you hold. It solves amount exposure, not identity exposure.

If what you need is “nobody knows how much I was paid or how much I hold”, Liquid does that. If what you need is “nobody knows this is me”, that is a different tool, and it usually comes with a completely different compliance position.