Bitcoin

Bitcoin mixer: how to protect yourself from “dirty” crypto coins?

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The Bitcoin mixer is an online service that allows owners of cryptocurrency funds to maximize the confidentiality of their transactions on the Bitcoin network. This article will present a guide on how to make Bitcoin anonymous in just a few steps. 

Anonymity and transparency of cryptocurrencies

Anonymity in cryptocurrencies is a topic with two sides. On the one hand, cryptocurrencies do not require personal identification to carry out transactions, unlike traditional banking transactions. On the other hand, all transactions are recorded and viewable on the public blockchain, making them transparent and traceable. It means that while transactions can be performed anonymously, the anonymity can be broken through the blockchain mining process. This method is used to view and interpret data on the blockchain. Such analysis could allow outside observers to establish connections between different transactions and addresses. Even if your cryptocurrency addresses were not directly associated with your personal ID, they could be matched by an investigator with other addresses or transactions that were associated with it. Therefore, users prefer the following crypto mixers to stay private:

  • YoMix
  • BitMix
  • SmartMix
  • Blender.io.

Protect your assets with the Bitcoin mixer

The principle of operation of peer-to-peer Bitcoin mixer is that here, the digital funds of the participants are mixed with previously cleared coins from the reserve fund of the site itself or borrowed from foreign cryptocurrency exchanges. In this case, mixing bitcoins occurs without the participation of an intermediary. All the most reliable Bitcoin mixers are representatives of peer-to-peer tumblers.

Participants pay a commission for the services provided by the service. Its size can be either strictly established or dynamic. In the second case, the commission is variable, and each user determines the best option for him based on the desired level of confidentiality—accordingly, the higher the commission percentage, the higher the level of anonymity.

Tripp Frank

Why is it necessary to use the Bitcoin mixing service?

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