Recipes for anonymity when working with bitcoin
Is it possible, in the conditions of increased attention to cryptocurrencies by the authorities, to remain anonymous? What is needed for this, and what tricks should not fall for – read on in the article below.
Bitcoin mixer: what is it, and how does it work?
Proper security of your assets is paramount as cryptocurrency hacks hit an all-time high in 2022. Most cryptocurrency users believe that one of its main advantages is anonymity. The ability to make payments while remaining incognito has attracted many and made crypto a popular means of payment.
Bitcoin is sent to the address of the mixer, combined with coins from several other sources, mixed, and redistributed in different quantities to different addresses. This helps to mask the source (transaction amount, recipient address), making it difficult to trace its origin.
The main features of the bitcoin mixer:
- transparency – the mixer stores data on all transactions over the entire history of the system (cryptocurrencies);
- stability – you cannot delete or replace information “retroactively” but only make a new agreement;
- independence – information is stored not on one central server but on many computers of network participants.
Advantages of the Bitcoin mixers
Among the main advantages that distinguish Bitcoin mixers from others are the following:
- Bitcoin mixers are peer-to-peer payment systems with their own internal unit of account.
- Their main goal is to ensure complete confidentiality of financial transactions using special technologies and cryptographic protocols.
Bitcoin mixers can be a useful tool for those who are looking to maintain their privacy. There are several reasons why someone might want to use a Bitcoin mixer. Perhaps they do not want their transactions to be publicly linked to their identity, or they are trying to avoid government surveillance. The desired effect is achieved by mixing coins and sending the amount in small transactions to different wallets.