It is easy to get carried away by the excitement of the crypto space thinking that your transactions are anonymous. In reality, they’re not despite the fact that Bitcoin was originally made to be used anonymously.
These days with mandatory KYC at most cryptocurrency exchanges, it is not too difficult to link Bitcoin wallets to the identity of the owners.
This has created privacy concerns among users and necessitated the need to enhance the privacy and security of users. This is why Bitcoin tumblers such as Bitcoinmix come handy in helping keep the transactions on the blockchain anonymous.
What is a Bitcoin tumbler?
A Bitcoin tumbler is a service with which transactions on the Bitcoin blockchain are made anonymous. This is especially important because anyone with a copy of the blockchain can follow the movement of all the coins in a wallet. In fact, all the transactions made by a wallet could be viewed to determine its origin and destination wallets.
A tumbling service obfuscates these transactions, making it impossible to trace them. The tumbler accomplishes this by sending unique coins different from the ones sent to you to another address. This breaks the connection linking the incoming and the outgoing coins from the mixer, making it impossible to follow. The owner of the coin is untraceable and anonymous.
Why you should use a Bitcoin tumbler
There are many reasons to use a Bitcoin blender such as Bitcoinmix.org. A blender serves as a bridge to anonymity if you’re a user of Bitcoin and other cryptocurrencies. Even though blending services may not be available for all coins, Bitcoinmix has the service for Bitcoin and Ethereum which are the two most capitalized coins.
Enhanced privacy is the primary reason why you should use a tumbler for your transactions. If you’re making a payment with your Bitcoin wallet, for instance, it exposes all your activities (transactions) on the blockchain. This makes it possible for unwanted scrutiny of your financial transactions by bad actors such as hackers.
We are aware that sometimes, even exchanges get hacked. This is incentivized by the fact that the Bitcoin blockchain is an open ledger that can be viewed by anyone with a copy of the blockchain or through block explorer. Hackers are able to ascertain that such exchange wallets bear a large volume of coins when they breach its security.
Exposing your primary wallet to prying eyes could expose you to such risks, especially if you have a large volume of crypto in it. When you make transactions, your wallet id is exposed to the merchant, partner or freelancer you’re making payment to but using a tumbler conceals it and keeps your identity hidden.
How to use a Bitcoin tumbler
To use a Bitcoin blender such as Bitcoinmix, first choose the coin you want to mix, then paste the address of the wallet where you want your funds sent. Next set your custom time (min. 30 minutes), click on the ‘next’ button.
This would lead you to the next page where you input the amount of Bitcoin you want to mix, the next field would show the amount you would receive after the mixing service has deducted its service fee.
That’s it. Just send the amount you want to be mixed to the mixer’s address displayed, you’d receive mixed coins just like new in your specified wallet.
Disclaimer: This is commercially sponsored content and cannot be considered as investment advice. Publication does not imply endorsement and Micky is not responsible for the products, services, or claims made. Readers should do their own research before taking action on this or any other company and assume full responsibility for their decisions.
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