Bitcoin mixer: Mix it up to keep it safe!
The crypto world can’t afford to blink when hackers out there are armed with the fastest two-edged swords to make away with peoples funds. The goal has been to ensure that every coin is secure and as private as possible while they remain anonymous. But as we all know, the best bet with bitcoin and other cryptocurrencies is partial anonymity.
What you may not always know is that the blockchain technology allows anyone with an appreciable knowledge of the crypto market (trader, miners, bitcoin users and so on) to monitor your moves and transactions. While a newbie can afford to sweep that under the rug, for crypto traders who know the ropes and pitfalls, looking the other way is not an option for you. The best option is to get into bitcoin mixer.
You leave hackers and other third-party traders in a bind when you mix your coin. Bitcoin mixers (also known as blenders, shufflers, or tumblers) basically use systems that randomly blend your coins to hide your address or web identity from others.
Bitcoin mixer in layman language
It's really not too complex a term. Plainly, this is just a software that disconnects bitcoin addresses from their real-world identities by allowing users to randomly mix their coins with other users. Picture a chef whipping up some ice-cream or mixing a barter; the individual ingredients represent your original coins and the ready to eat meal is same as your mixed coins. It takes a third party the same time it will take to separate the yoghurt from the strawberry to get hold of your funds. That will probably be forever!
Don’t get it wrong, bitcoin addresses wont just outrightly give up your identity of their own accord. However, your transactions and other interactions with the coin market can actually link your address to you. With more complex techniques like bitcoin analysis, you can risk your address being tied to you, or worse case reveal how much coin you have, your other coin wallets, what you spend your coins on, and so on. With the different mixing strategies that are out there one can adapt the best techniques to ensure funds privacy.
What you stand to gain by mixing your coin
If you are up to date with the trends and happenings in the coin market, you would have noted the verdict ICOratings passed on the security strength of over 100 exchange sites. With this alarming number falling short the recommended security measures, then coin mixing is not a choice; its core for every bitcoin investor. Aside from the basics of keeping from criminals at bay, the benefits are far more reaching.
Think of the immense possibilities when you know that there's no link between your sending address and the receiving end; imagine all you can do with your funds knowing that they are not traceable to any specific wallet – it stretches beyond the horizon! With your bitcoin in a wallet that is known and accessible by you alone, you can guarantee the security of your bitcoin asset and manage your funds properly.
Mixing effectively augments for the anonymity that the blockchain technology has failed to provide. The standard mixing services conceal your personal info and permanently erases your transaction history within 24 hours; that way, a third-party will never scratch your honey pot.
We can’t underestimate the need for fund privacy and fund security management. Lets dwell a little on the privacy aspect; there are uncountable reasons! When it comes to certain money habits that one is not exactly proud of or rather wouldn’t want to air in the open (take porn addiction for instance), coin mixing it’s the only trusted savior in such moments.
Best way to use your bitcoin mixer
It’s always best to start by hiding your tracks from your remote internet provider; therefore your first step should be to download a VPN. Then re-route to Tumbler.io and follow the promptings. Once you click on the bitcoin icon, a one-time bitcoin address will be sent to you, then transfer the amount of bitcoin you want to be mixed to the address. Note that this address will be erased after 24 hours.
Now to the actual mixing, you will be assigned three pool options with which you can mix your bitcoin till they are completely untraceable. Following the basic mixing rules, your bitcoin will be automatically shuffled with those of a number of users until an ghost combination is created that cannot be traced.
The last step is to receive your new bitcoin. At this point, Tumbler.io will send your coin with a new identity that even they do not have access to. It’s advised you send it to a wallet that is known and accessible to you alone.
Are there drawbacks to bitcoin mixing
The blockchain technology ushered in an open and transparent ledger to crumble the power of centralized payment systems and transactions technically open to everyone. Interestingly, the bitcoin mixer has made up for the privacy leaks that came with this. Now the big elephant in the room is whether or not the whole bitcoin mixing that is current on every lip in the crypto world is hundred per cent – are they loopholes that users may not be aware of?
As one would expect from any juicy trend, there are certainly a few cons. Hackers for one can also protect their stolen funds with the same software that protects you from them, the fact that mixers cant identify stolen funds is not a pleasant taste – life has never been fair anyways.
In a nutshell, as the digital currency market is evolving and rapidly gaining global acceptance, it wont be out of place if investors consider fund security management a non-negotiable priority. Therefore, till any other technology proves better, bitcoin mixing services remains your best bet to call the shots on hackers, and identity thefts.
Disclaimer: This article is not intended to provide financial advice or promote the use of Bitcoin and other cryptocurrencies. Its main purpose is to inform, explain, and educate. Readers must make their own decisions regarding the use of such services.