Using a bitcoin mixer is a must
Bitcoin transactions aren't as anonymous as you think they are. We live in a world where hackers want to steal your cryptocurrency assets and the regulators want to track down your bitcoins and control them. Bitcoin wallets are created in such a way that they don't reveal the identity of the owners, but it's possible to link your real-world identity to your bitcoin address.
Let's say you purchase bitcoin at an external exchange, where you have to provide some form of personal information. When you withdraw your coins from your exchange wallet to your personal wallet, that bitcoin can be traced to your wallet and your identity revealed. Methods like blockchain analysis can tie your real-world identity to your bitcoin address.
With a bitcoin mixer, you avail yourself of the risk of your bitcoin getting stolen by hackers or your identity getting exposed by private agencies.
With a bitcoin mixer, you protect your virtual currency from prying eyes.
Bitcoin mixers are software solutions that give you the ability to mix your bitcoin with that of other users on the platform in order to keep your identity private.
In this article, we will look at what a bitcoin mixer is, how it works, how to go anonymous using bitcoin mixers, what a bitcoin tumbler is and how it works, what to do with your tumbled cryptocurrency, and finally, why you need to preserve your digital wealth.
What is a bitcoin mixer?
In simple terms, a bitcoin mixer is a specialized tool for making your bitcoin anonymous. It is a known fact that bitcoin transactions are far from anonymous or private. First, blockchain is a public ledger and everyone can view every transaction made on the blockchain.
If you've ever associated your name with any wallet while purchasing or transferring your bitcoin to your wallet, your name can be traced to your bitcoin deposit, and hackers can have direct access to your digital asset. A bitcoin mixer works by anonymizing your digital currency.
How does a bitcoin mixer work?
A bitcoin mixer works like a cement mixer. You put in sand, concrete, and water to output cement. This new product is distinct and the different parts used to create the cement are untraceable. Bitcoin mixing involves a third party that protects the identity of the sending and receiving wallet addresses. You send your bitcoin in and it's mixed with others on the platform, at the end of the exercise, a completely new and untraceable bitcoin is sent to your wallet.
Go anonymous on the blockchain using mixers
The number one reason why bitcoin owners use bitcoin mixers is to make their transaction anonymous on the blockchain and keep their assets secured. Bitcoin owners also prepare for the unpredictable future in the bitcoin industry by mixing their bitcoin. Government regulations on bitcoin change on a daily basis and you don't have a clue what might be considered an illegal bitcoin transaction.
If for instance, your assets are seized, your physical assets might be seized, but your bitcoin assets will be untraceable. You also need a bitcoin mixer to protect your assets from hackers. A lot of bitcoin exchanges have been breached by hackers and relevant data has been stolen. You protect your bitcoin from hackers by mixing your coins with a bitcoin mixer.
What is a bitcoin tumbler?
A bitcoin tumbler is a mixer that works with the principle of a normal blender. You put in your ingredients and blend them up to bring out something entirely different. The origin of the ingredients can never be traced from the new output.
This principle has prompted bitcoin mixers like Tumbler.io to create services that help to keep cryptocurrencies anonymous. They blend bitcoin from different users together and send you new and untainted bitcoin that can never be traced to your wallet.
How a bitcoin tumbler works
A tumbler anonymizes your bitcoin transaction in a simple and straightforward manner. Tumblers like Tumbler.io is a perfect example of how easy it is to mix your bitcoin.
When you and on the homepage of the website, you will be given the option of inputting the wallet address you want to send your newly mixed bitcoin. After that, you can select a mixing delay. This is the time you need between different transactions to the wallet. You can have delays of up to 2 days on Tumbler.io.
The service fee is set for you automatically. It's always between 1% and 5%. The next step is to input your mixing code. The mixing code ensures you never have to receive the same bitcoin twice. If it is your first time using the platform, you don't need a mixing code. The mixing code is only given to you when you've done a previous transaction on the platform.
When you submit your request to mix your coin, you will get a unique bitcoin address where you can send your bitcoin, the address is accessible for a limited time. When you have sent your coins, the tool attaches your old bitcoin to the end of the mix and issues a new bitcoin from the mix to you. These newly shuffled coins are sent there giving a dress you provided.
The process is easy and straightforward.
How to use anonymous BTC
Your newly acquired bitcoin from the mixing process is untainted and can never be traced back to you. So you can spend your bitcoin with as much freedom as you want. The reason you used the service is to get bitcoin that's completely anonymous and safe to use.
So, once you get your newly mixed bitcoin, use it however you want to use it. You can buy stuff online or pay for a service with it. But whenever you're trying to receive new bitcoin to your wallet, for the sake of privacy and protection, use the bitcoin tumbler.
Preserve your digital wealth
You want to preserve an asset that's taken you so much time and effort to accumulate. Hackers and not only them are always looking for ways to target bitcoin owners and get access to their information. Using a bitcoin mixer gives you a shield against external interference to your transaction on the blockchain.
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.