Are you in search of an easy-to-understand and detailed explanation of Bitcoin Mixer? You’ve come to the right place. In simple words, a Bitcoin mixing service focuses on helping you gain privacy and security over the anonymity concern of Bitcoin.
Of course, it’s a fact that Bitcoin operates on the blockchain which implies that every other miner or investor can monitor your moves and transactions.
However, thanks to Bitcoin mixer, you can throw your distrust for Bitcoin under the carpet and use your coins with confidence.
In this post,we present an in-depth discussion on the Bitcoin mixing service, paying attention to its appeal to people, and how it helps you keep your coins safe.
Without further ado, let’s get started.
A Bitcoin mixing service mixes your coins via a predefined system or random mixing. The ultimate aim of mixing Bitcoins is to create a misleading situation which disables hackers and spies from tracing your Bitcoin transactions.
Today, many mixers offer reliable and competitive services. Also known as Bitcoin tumblers, shufflers, launderers or scramblers, Bitcoin mixers are capable of blocking your Bitcoin address or web identity to protect you from internet snoopers.
Now, you’re probably wondering why these services are in vogue in the present age of digital currencies and crypto mining. As far as Bitcoin is concerned, anonymity is partial. With Bitcoin and many other cryptocurrencies, pseudo-anonymity is what operates.
Let’s break this down a bit.
The blockchain network is a form of public ledgerwhich records the blocks which individual miners add. It keeps a log of all your activities as well as your Bitcoin address.
While some hold the belief that thieves and criminals love to avoid the public domain, news reports regularly show that exchanges fall victims to hacks. This, therefore, goes to show that the issue of anonymity is vital for every individual who has Bitcoins and values them.
As a result of this, Bitcoin mixing services break down your BTC into smaller, different parts. Next, they mix them up with coins from other addresses so that spies will find it extremely difficult to steal from you.
As an illustration, think about making a smoothie drink. Every small piece of fruit that you put in the blender is analogous to coins from an original address. However, when the drink is all ready, you could never really identify which fruit produces a specific flavor.
Let’s go a little further to discuss people’s reasons for using mixing services.
Just as in older times, when people moved their funds to countries which operate strict bank-secrecy regulations, people now opt for mixing services to keep their coin business private.
Because personal information could go to a third party during the course of a payment transaction, your chances of losing some coins are high. Nonetheless, with a Bitcoin mixer, no criminal can trace any transaction to your Bitcoin address.
Below are key reasons for using Bitcoin mixer:
To reiterate, the crypto space is now fully aware that Bitcoin isn’t anonymous. Everybody can see what everyone else is doing with the coins in their wallet.
Such intrusion serves as a disclosure of how many digital currencies you own and how they can be taken from you by regulators.
Because this reality tampers with the original idea of Bitcoin (to spend money without government control), Bitcoin laundering service has come on board.
Although some coins such as Dash Zcash, and Monero have privacy options, their high fees discourage many users from investing in them. Hence, Bitcoin blenders play the role of disconnecting the link between your original identity (bank account information) and your Bitcoin wallet.
Now that you’re aware of the insecurity attached to using Bitcoin, what steps can you take to secure your Bitcoins?
In conclusion, Bitcoin is insecure. But Bitcoin mixing services make your coins safe and your transactions private.
Are you ready to improve your Bitcoin anonymity? Start mixing!
Read the detailed guide How Bitcoin Tumbler (Mixer) Actually Work...
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