Do you still think Bitcoin transactions are anonymous? It has often been confirmed that crypto transactions can be traced and it is possible to find out the name of the wallet owner if he has ever associated it with the used wallet. Therefore, more and more Bitcoin holders decide to try to mix currencies on the platforms so that they cannot be tracked. Some people have not heard about this process. What is a Bitcoin blender you can ask?
See: This article will provide an answer to this question and the reasons why cryptographers use it.
What is a Bitcoin blender?
Bitcoin blenders work by obscuring the source trails. Using hundreds of microtransactions, coins become almost impossible to track.
Say you open a Bitcoin trading account. To buy your Bitcoin, you must create an online wallet (the address that functions as an account). You will also need to share your bank information to purchase these coins. Therefore, link your personal information to the coins and wallet address and “tainting” the coins. If you want to cut these ties, you will find a Bitcoin mixer. Bitcoin blenders (mixers or tumblers) work by several Bitcoin owners who deposit these contaminated coins into a central account. They are mixed and the amount deposited by any user is paid into the wallet of their choice.
As the original owner of Bitcoin receives coins completely different from those originally deposited, the links between the coins and your personal information are severed. Which makes it almost impossible to trace the coins to the original owner.
How does a Bitcoin mixing work?
Bitcoin mixing service works by running your coins through a mixing process. After sending a Bitcoins you want to discard, the mixing service mixes your Bitcoins with someone else's cryptocurrency to release a new batch of random Bitcoins obtained from a random address. Bitcoin mixing service requires only your Bitcoins, and that's it. You are not required to fill in any of your details.
Bitcoin mixing services often charge a random commission of 0.4 to 4% of their users, which makes it almost impossible to track the two transactions. With the assistance of the mixing service, you can protect your privacy 100% with cryptocurrencies and confusing addresses. Bitcoin mixing service does not store any records, so a hacker can never discover anything about your transactions, even if your security is compromised.
How to use a Bitcoin blender
“Using a Bitcoin blender is quite simple. Most importantly, make sure that any mix service you choose has a good reputation. Double-check that the web address is correct and do your homework when it comes to investigating blenders. So even though the coins are free and do not contain any personally identifiable information, the wallet they have assembled may have personal details.” This means that users must exercise caution when using the appropriate software and operating systems when creating a wallet for their new purchase.
Advantages of Bitcoin mixing services
Who doesn't know about Bitcoins? This new platform has transformed the world into a virtual world. People from different parts of the world are using the mixing service to be part of Bitcoin without giving too much information to the world. But do you think you can do it directly from Bitcoin? The answer is no. Therefore, the only way to remain anonymous is to opt for a Bitcoin mixing service offered by BitMix.Biz.
If you're new to this world, it's probably intimidating for you to understand from the start. So here we try to help you find help to understand what is the need for the mixing service and why so many people around the world trust it.
- It means that you use Bitcoins to buy services or goods; You will always need to provide your personal information, such as name and address, to the person who will deliver the product. Indirectly, a third party obtains the information to track transactions and can find other identifying information. Sharing your personal information can become dangerous and that is where the need to mix services arises. These mixing services allow you to exchange Bitcoins without partnering with the real owner.
- These services are intended exclusively to facilitate the use of the owners. Here, you no longer need to register to create your profile. Most services do not charge users for the first time. They do not request any PGP key verification. These services are performed to ensure that people can be part of an anonymous user.
The article made it clear that Bitcoin blenders appeared after it was demonstrated that crypto transactions are not confidential. Having become a very popular way to hide and clean colored coins, blenders are incredibly popular with people who own Bitcoin and don't want anyone to know about it. Also, they have many other purposes, although not all are considered legal.