The identity of cryptocurrency network users remains confidential until a precedent occurs for linking a wallet or even a coin with one’s real name. This guide will investigate how to use a Bitcoin mixer to ensure you do not leave traces.
Bitcoin mixer for secure transactions
The need for secure and anonymous transactions arose with the advent of cryptocurrency exchangers and payment systems. Stories that transactions in cryptocurrencies are completely anonymous are only partly true. Bitcoin addresses can be traced and linked to real individuals. It risks investors having their personal information exposed and their account transactions potentially being monitored. It is the case where crypto mixers or tumblers can help, as these innovative tools are designed to provide privacy and anonymity to users in various circumstances.
Step-by-step guide on the Bitcoin blender operation
The exact process of how a mixer works to provide anonymous cryptocurrency may vary depending on the specific service. But the general approach includes the following stages:
- participants transfer a certain amount of bitcoins to the service;
- coins are crushed into small parts and mixed with the shares of other participants, coins from the site’s reserve fund, or a foreign cryptocurrency exchange;
- the owners return already “washed” tokens to the address they entered or several addresses in the original amount. A commission for services provided is deducted from the total amount.
Almost all successfully functioning Bitcoin mixers are of the peer-to-peer (decentralized) type. In contrast, centralized ones, which require the mandatory presence of an intermediary, have been almost wholly abandoned over time. It is understandable since the effectiveness of “washing” BTC in the case of centralized services was directly dependent on the competence and honesty of the owner or developer of the platform.
Since the purpose of using Bitcoin mixers is to ensure anonymity, registration on such sites is not required, and entering your personal data is not required.