Bitcoin mixing is a term used in a service that mixes ones bitcoin with others in the aim to end the connection between the sender and the receiver. It utilizes offshore accounts with strict bank secrecy laws and mixies other bitcoins with other bitcoins, sending a bitcoin amount either lesser or bigger to confuse any person or company whose motive is about tracing a particular bitcoin transaction.
People always ask if it’s really necessary because no one is offering it but a 3rd party service provider. That is actually up to you but just so you know, even if your wallet address looks anonymous, it’s really not. People are even referring to it as pseudo-anonymous”. The point is that it’s not really that anonymous to the people that know how to make it not anonymous. That capability is already existent today since bitcoin does have entities that use it on illegal things and there are agencies that are tracking these types of transactions. The fact is it can be used both good and bad but as you know using it can get you in trouble. A bitcoin mixer resolves issue of being “pseudo anonymous” by cutting the paper trail making your fund transfers untraceable. If you’re already sold with Bitcoin mixing, below are things that you should take note of.
It’s a business of trust: The fact that most of these bitcoin mixers don’t require you to register requires a leap of faith. Think about it, you send them your Bitcoin in the hopes of mixing it and sending it back to you. Not all people are open to that. The only thing that you can do if you really want that service that bad is identify the commonly used, most popular and highly rated Bitcoin mixing sites.
It mixes with other bitcoins: Part of its safety feature is to erase doubts and with that, they mix your coins with other coins. This is the reason why when you receive your coins it won’t be the exact amount. It can be lesser or more than what you sent minus their fees that usually rates 1% to 3% if not free.
It can have fees: There are bitcoin mixing services that offer their services free and there are also ones that charge 1% to 3% as mentioned above. It’s not always a guarantee that the ones with the fees offer the best services nor the free ones, for all you know these free services are funded by private or illegal organizations and the ones that offer mixing for fees are for the maintenance of the site, you can’t really tell if you based the service on fees alone. What you need to do is do a bit of digging to identify the most credible and the best one for you.
Bitcoin mixing is a term used in a service (as the term goes), mixes bitcoin with other bitcoins and sends it back to the sender with the aim to cut the connection of the sender and receiver making it anonymous. If you are sold in using this type of service, you need to keep in mind that it’s a business of trust, your bitcoin is mixed with other bitcoins and it can also have fees depending on the site where you mix your coins from. If you want to know more about the highly recommended sites for Bitcoin mixing, visit cryptalker.com for more details.