Ever since the Bitcoin came into existence, the concern over their security has been a hot topic for traders and enthusiasts. Where a big population believes that Bitcoin transactions are absolutely anonymous, there is another group that denies the fact. In fact, it is found to be true when one of the organizations shook hands with the police to help them unveil this “anonymity”.
So, does it mean that Bitcoins are not at all anonymous? Well, you can call it partially anonymous, which may be traced down to you if adequate resources and dedication is put towards it. This is when the Bitcoin Mixer comes to your rescue. In this article, we’re going to understand more on what Bitcoin mixer is and how does it work to help you keep your transactions anonymous.
What is Bitcoin Mixer?
As the name suggests, Bitcoin Mixer is a technology that is aimed to keep your Bitcoin transactions safe and secure. If you’re a Bitcoin holder, you would always look for a technology that can guarantee a secure transaction that goes without being intercepted. Well, this is what the Bitcoin mixers do.
Bitcoin Mixer is way through which the link between your new and old addresses gets eliminated as the technology either sends or receives the crypto currencies from different wallet addresses. For example, if A is trying to send Bitcoins to B using a trustable Bitcoin mixer, the mixer then would break the quantity and send them on different addresses like some BTC from A to X, some from A to Y, and then it would ultimately be transferred to B.
So, Bitcoin mixer is actually changing the ownership of the Bitcoins that are being transacted, which is making the whole transactions impossible to trace. There is another trick that many Bitcoin Mixer providers follow, which is not transacting the exact number of Bitcoins. This means, if you’re transacting some BTC, you may end up receiving either a little more a little less (rarely making changes to actual amount). This is done to confuse the monitoring techniques as no one would be expecting lesser or more than transacted Bitcoins. Now this clears what is Bitcoin Mixer in actual.
How to use Bitcoin Mixer?
Bitcoin Mixer is more of a technology than a specific unit of tool. There are various Bitcoin Mixer providers that you may find online. It is important to know that this service is usually chargeable, and you must check the charges prior to making any transaction. Below is one of the examples to help you understand how to use Bitcoin Mixer:
- Go to bitcoinmix.org website and scroll down to see ‘START MIXER’.
- Enter the destination wallet address. It is recipient’s wallet address. And, choose the time delay.
- Now, enter the Bitcoin volume that you’re depositing to the Bitcoin Mixer to send it further. You’d see that they are charging a fee i.e. 4.93% + 0.0001 for every transaction of the mixer.
- As soon as you transfer and the it shows the deposit is completed, it sends out those bitcoins from various wallets to the ultimate recipient.
Note that you’d not be provided with a QR code to deposit your Bitcoin. So, it is important that you cross check at least twice before making a transaction to the Mixer.
Overall, it is important that your transactions go unseen from the hackers. If you do not trade every now and then, you may be feeling relaxed, but it is always better to apply precautions. Now that you know what Bitcoin mixer is, you may apply it to cover your transactions and deploy a shield that creates confusing sources and destinations of your Bitcoins. This way, your transactions would stay away from the reach of hackers or any other monitoring unit. If you wish to share some tips and tricks related to Bitcoin mixer, do let us know in the comments below.