How legitimate are bitcoin mixers?
The present-day digital asset scene is developing gradually. The entire operation is one year shy of a decade and bitcoins have been in existence since then. Efforts are continually being made by regulatory bodies to streamline what is acceptable and what is not. The rules guiding digital coins and bitcoins are transient since regulators do not fully understand how the system can be incorporated into their present operations.
Since there are no standard rules yet, it is necessary that you protect your bitcoin holdings. Most people are not exactly sure about the most effective way of concealing their trails, while using a totally legal method. The use of bitcoin mixers has not been addressed by any law so far. Bitcoin mixers are platforms which enable bitcoin users to combine their coins and that of other bitcoin holders with the sole aim of increasing the anonymity of their digital holdings.
Using of bitcoin mixers on the terms of an official regulator
Globally, there is increasingly more evidence that not only can cryptocurrencies like bitcoin be traced, but also regulated by authorized officials in some countries. Notable cases have been recorded in China and India.
Bitcoin restriction in China
Last year, China enforced a ban on bitcoin transactions, driving their cryptocurrency witch hunt even further. The country was formerly a reputable bitcoin country, however, the ban has made cryptocurrency dealings redundant in the country. It became mandatory for banks to terminate all forms of crypto exchanges and users were left with no choice but to use VPN services to use cryptocurrency services outside their country. Authorities and blockchain analysis firms are relentless in their efforts to uncover the identity of blockchain users in China. It does not matter if crypto users spread their bitcoins over multiple addresses, their transaction history can still be accessed using specially devised methods.
Leading bitcoin exchange service closed by Indian authorities
In 2018, there was a halt in the operations of one of the leading cryptocurrency exchanges in India as a result of an ongoing banking ban connected to digital coins. The ban was imposed by the Bank of India that year and accounts connected to bitcoins were subsequently closed.
Eventually, the crypto exchange was shut down and users were left with a substantial value of bitcoins and other digital coins. Even though the bitcoins could be transferred to users’ preferred wallets, their activities could still be tracked.
The legitimacy of bitcoins
Similar to the way bitcoin cannot be prohibited by regulatory authorities, it is also impossible for them to stop the use of bitcoin mixers. This is due to the increasing number of VPN services that are scattered across the internet.
In the United States as well, bitcoin mixers are not regulated by any laws. This may be due to the fact that bitcoin is not regarded as an exchange medium in the United States, but instead as an asset. Assuming it was regarded as an exchange medium, then efforts would have been made by legislators to classify the transactions as part of a money-laundering scheme. The legality of bitcoin remains intact until legislators decide to put standard laws in place.
Exploring the legitimacy of bitcoin tumblers
Since we are now certain about the legality of bitcoin mixers, it is important to consider using a bitcoin tumbler. The problem being addressed here is that the anonymity of your bitcoin holding and blockchain analysis firms should not hold you back from using your bitcoin in any way you desire.
The inspiration for inventing bitcoin was to create a global peer to peer exchange medium without any third-party interference. Because of the public record system used by bitcoin, anonymity was not entirely guaranteed initially; despite this, regulatory authorities are relentless in their attempts to monitor bitcoin users. Using a bitcoin mixer empowers users to resist excessive regulation.
Tumbler.io: A reliable bitcoin mixer
Locating a reliable bitcoin mixer is quite easy. One of the best bitcoin mixing service providers is Tumbler.io because our major brand objective is complete customer satisfaction and 100% anonymity. Within a maximum of 24 hours, all transaction history in our database is erased to ensure that customers cannot be traced.
For a comprehensive tutorial on the mixing process, watch some of the videos on our website.
As soon as you have completed this simple and direct process, your bitcoin must have been tumbled appropriately and your fresh bitcoin cannot be monitored by any third party.
The ultimate guide to using a bitcoin mixer on the terms of an official regulator
The steps to using a bitcoin mixer efficiently on the terms of an official regulator have been outlined below:
- If you are currently experiencing a restriction, then a reliable VPN service is required.
- Enter Tumbler.io and select the bitcoin icon
- Transfer your coins to the non-reusable bitcoin address supplied. The link is valid for only 24 hours, beyond this, it will expire.
- Write down the code provided. You can use this code to ensure the anonymity of your bitcoins.
- Pick the preferred pool where your bitcoin will be mixed.
- Your bitcoin is sent to your new wallet. Under no circumstances should you send your bitcoin back to a previously used wallet.
To watch a demonstration of how this can be done, head over to our Tumbler.io website and check out the videos.
Once you adhere to these instructions, you can be guaranteed that your bitcoin earnings are not unprotected. Official regulations are inevitable, as evidenced by the most recent actions that have negatively affected bitcoin users around the world.
It does not matter if your country permits bitcoin transactions, your privacy may still be violated. So it is very important that you deploy adequate safety measures such as using a bitcoin tumbler, so that you do not fall victim to privacy violations from financial regulators.
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.