Bitcoin mixers or tumblers have become an integral part of the coin ecosystem. Its use mixing services serves to anonymize the source of the cryptocurrency in your wallet and what transactions the coins were used for in the past.
Digital currencies such as Bitcoin were initially thought to be anonymous, but with KYC rules being consistently implemented by crypto exchanges at the instance of governments, the pseudonymous coins such as Bitcoin can no longer be stored and transmitted without the possibility of having them traced by determined third parties.
These are mainly blockchain analysis companies such as Chainalysis. These companies have been working on de-anonymization of the blockchain through the development of tools with which all cryptocurrency transactions made on the blockchain can be traced to the owner of the coin.
This is especially so when the owner has at some point linked their Bitcoin wallet to their identity. To prevent having your coins directly linked to you it is essential that you mix your bitcoins. This ensures that the coins are not traceable to you.
The realization that all Bitcoin transactions recorded on the blockchain are visible to analysts means that you have to use a bitcoin mixer to foreclose the possibility of having your bitcoins traced back to your IP address or your identity. Remember that your intention of using a bitcoin mixer is to protect your privacy.
In this guide, we are going to see how you can dissociate any bitcoins you have from its history. In essence, using a bitcoin tumbler will make your coins seem as new since its history will be obliterated by the mixing process.
In Bitcoin mixing or tumbling, the service accomplishes the anonymizing of the bitcoins by sending an equivalent amount of the bitcoins you own back to you.
However, the coins sent to you would come from others instead of your original coins. So anyone spying on your transactions will not be able to trace the whereabouts of your original coins, neither will they be able to exactly trace any coins back to you.
In this guide, we shall see how to use a bitcoin mixer using bitcoinmix.org one of the oldest and most reputable mixers in the industry as an example.
However before we commence, it is important that you know that it is not every mixer out there that is reliable. In reality, there are many scams posing as bitcoin mixers and if you make the mistake of sending them your coin you will definitely lose them.
Tumbling Your Bitcoin With Bitcoinmix
Bitcoinmix uses a unique algorithm in mixing your bitcoins and enhancing your privacy. Bear in mind that the minimum amount of bitcoins that will be mixed by this bitcoin tumbler is 0.02 btc.
There are five basic steps to having your bitcoins blended by Bitcoinmix.
- First, visit the website at https://bitcoinmix.org, this points to the homepage of the Bitcoin tumbler, you can click on the “Start Mixer” menu or scroll down the page to locate the mixer.
- At the bottom of the page, you’ll see a provision for inputting “the address where you want your Bitcoin to be sent”.Just paste the wallet ID where you want your bitcoins sent after they have been mixed in this field.
- Set the custom delay time. This is the time required before the mixed coins are sent to the wallet that you specified. At Bitcoinmix, you are required to set a minimum delay time of 30 minutes. Be sure this is set then click on the “next” button.
- The next page that shows up after the next button was clicked will indicate the address you are to send the bitcoins you need to be blended. Below it is a field where you input the amount of bitcoins you are sending to be blended by the mixer.
You should note at this point that there is a small mixing fee of less than 5 percent charged by the mixer, so when you input the volume of bitcoin you intend to mix in the Calculator, the “amount you receive to your wallet” will show a smaller volume than the amount you are sending. The difference is the mixing fee of the mixer.
For instance, if you send 0.5 btc to be tumbled, you’ll receive 0.4873523 btc after Bitcoinmix blends your coin. Your personal fee 2.31% + 0.0001 for every transaction of the mixer
Also note that sending bitcoins less than 0.02 to be mixed will result in the loss of your coins since the mixer does not support smaller volumes of Bitcoin.
Well, you’re now all set, so send the amount of btc you intend to mix to the specified mixing address. Bitcoinmix waits for 3 confirmations of your transaction before your bitcoin is mixed and sent to the wallet you specified earlier.
Other Features of Bitcoinmix
Bitcoinmix is an easy to use mixer with an efficient mixing system that protects your privacy. No personal data is required to blend your bitcoin in this mixer.
The fee is randomized intentionally to make it difficult if not impossible to track your coins after it has been sent to the mixer.
Bear in mind that the coins sent to you are completely different and from other users of the mixer. So your new bitcoins have been completely anonymized.
Is it Worthwhile Using A Bitcoin Mixer?
None of us goes out of the way to expose our banking information or other personal data to strangers. The blockchain is an open ledger and having bitcoins means that there is information on the open ledger about your bitcoins.
This could predispose you to theft or hacks. This is why using a mixer to cover the trail of your bitcoins and dissociating them from your ID is important, especially if you are a holders keeping your coins as a long-term asset.
In any case, keeping your digital assets private makes a lot of sense.