Bitcoin is one of the primary and most advanced coins on the Internet. This cryptocurrency is popular, reliable, anonymous, and currently under active development. However, this crypto coin has some privacy issues since any user can find out the history of its transactions. So, how to deal with this, and what are the benefits of crypto-mixing?
When should you mix bitcoins?
It would help if you mixed coins every time you were going to send or receive them from a new source. It will increase your chances of remaining anonymous. For example, when buying cryptocurrency for the first time with fiat money, mix them before conducting further transactions with them. Crypto-mixing will make tracing the connection between you and your crypto asset harder. The same applies to the sale of digital currency for fiat. Mix the bitcoins so the buyer cannot trace the crypto’s origin. If you do not use mixers, anyone with the right skills and abilities can find out where you bought your bitcoins and to whom you transferred them. This information can be used to identify you and, accordingly, against you.
What are the advantages of Bitcoin mixers?
Bitcoin mixers are a reliable option for making transactions. They have certain advantages:
- provide complete anonymity and confidentiality of any transactions, thanks to the mixing of Bitcoin transactions;
- have excellent transaction speed;
- offer users a low commission.
The system works as follows: the user transfers the coins to the anonymization service of his choice, after which the coins are placed in a typical “cauldron,” mixed with the stock available on the service. After that, new “clean” coins are sent to the user’s address. Most mixers have a particular supply of Bitcoins on their balance sheet, which they mix with the coins of their clients.