Securing Your Cryptocurrency: The Role of Bitcoin Mixers
Anonymity is one of the main features of cryptocurrencies. But are both of these technologies really completely anonymous? No! All transactions ever carried out by users are stored in block chains, data from which is available to everyone. Accordingly, any transfers, if desired, can be tracked to any stage. And in order to “confuse” the traces of transactions, bitcoin mixers were invented. What it is and why bitcoin mixers are needed, we will figure out in this article.
How Bitcoin Mixers Prevent Transaction Tracing
To begin with, let’s define what a bitcoin mixer is. In fact, it is a resource that assumes an intermediary role, accepting and sending transactions. That is, in order to “confuse” your translation, it is enough just to go to the site and send it through it.
It is worth remembering that any such resource charges a fee for its services. As a rule, its value is very loyal, especially considering what opportunities it opens up for users. The average commission varies from 1 to 5%. The most popular mixers today are BitcoinFog and Bitpetite. They are characterized by a high degree of “obfuscation” of transactions, very affordable fees, as well as a clear interface.
HOW DOES BITCOIN MIXER WORK?
The basic principle of bitcoin mixers is already laid down in the very name of the services. In fact, the technology of such resources is quite simple – like an ordinary kitchen mixer that mixes several ingredients into a homogeneous mass, bitcoin mixers mix transactions from various accounts with each other.
That is, by sending a transfer through a mixer, you provide it to the service, which in turn mixes coins from other transactions dozens or even hundreds of times, eventually sending them to the specified recipient address. Thus, a huge amount of data about new transactions appears in the blockchain, among which it is already difficult and even impossible to track the primary and final address. Now that we know how the bitcoin mixer works, let’s look at why and who needs such technologies.
WHY DO I NEED A BITCOIN MIXER?
There is an opinion that bitcoin mixers are used only by attackers who need to stay in the shadows, or those who simply launder the earned coins. In fact, the situation is somewhat different. Of course, odd users also resort to the services of mixers, but they were originally developed for wider circles of people.
So, who needs a Bitcoin mixer and why? First of all, such resources should be of interest to ordinary users. After all, even in ordinary banks, no one can view your personal transfer history or track a specific payment, and in the cryptocurrency environment, anyone can get this information.
Accordingly, bitcoin mixers allow everyone to protect privacy, finances and personal data. For example, no one needs to know that yesterday you sent 10 bitcoins to the account of an online store of intimate goods or bought pills to increase potency.
Besides, no one knows what the future holds for us. Perhaps the translation that you made 5 years ago will bring you some trouble in years, because it will be publicly available all the time. Therefore, if you want to maintain your anonymity, now you know why you need a bitcoin mixer and will be able to use it if necessary.
One of the best in our opinion Bitcoin mixer is blender.io
Several advantages of this service:
— Low commission for services (from 0.5% to 3%);
— No logs;
— Anonymous work (JS is not used);
— Mixing of bitcoins occurs through the use of new algorithms of work;
— A fairly simple and intuitive design for users;
— The user can independently set the distribution amounts and the time of transfers;
— The mixing code is available to the users of the service, which guarantees that your transaction will not be mixed with the previous ones.
Among the other Bitcoin mixers Blender.io it occupies a leading position, as it provides modern functionality that other services do not have, as well as increased privacy.