SmartMixer

Using a bitcoin mixer keeps your cryptocurrency private by incorporating an extra privacy layer that mixes the trail of the transaction.

Anonymity is just a part of cryptocurrency’s fundamental concept. Holding your finances under the radar and away from the prying eyes of third-party entities is what made it a mass appeal for traders today. With the underlying blockchain technology, Bitcoin was a breath of fresh air in a stale vault.

Like other cryptocurrencies, Bitcoin was developed on blockchain technology, a proprietary, stable, and permanently distributed ledger. Although the blockchain is private, transactions performed by those on the network can be viewed by the community because the transactions are distributed to everyone on the web. As a member of the community seeking anonymous transactions, it is critical that you make use of the Bitcoin mixer. Utilizing a mixer obfuscates Bitcoin addresses, making these transactions harder to track.

A Bitcoin mixer is simply an algorithm that has been designed to help you randomize your Bitcoins, thus, enabling you to obscure transactions that any user on the network cannot see. Therefore, it adds a layer of privacy to your bitcoin transactions. Bitcoin mixing involves using third-party services to break the link between wallet addresses sending tokens and the receiving addresses, where they mix the coins with other previously sent coins to the address the user specified. With more advanced technological solutions being developed to make Bitcoin transactions traceable, it is getting even more crucial to keep your identity hidden through a mixer. Even if transactions are made solely for online purchases or donation purposes, it is still essential that you use this advanced algorithm to shuffle your coins.

One of the primary purposes of mixing is to conceal the identity of users. Mixing allows users to carry out anonymous transactions while protecting one from fraudulent or malicious hackers seeking to get their hands on the digital asset. An increasing number of hack attempts have been directed at stealing cryptocurrencies, mainly Bitcoins. It is, therefore, necessary to keep your coins safe from hackers. Currently, most people dealing with cryptocurrencies rely on exchanges and other software wallets with no cold storage features. These storage options are highly susceptible to security compromises by hackers. Also, more centralized cryptocurrency exchanges seek their users to complete the legally-binding KYC and AML procedures. While it ensures the regulators the legitimacy of these exchanges, it comes at the expense of users’ privacy. Therefore, one way to keep your coins untraceable will be to mix your BTC with a pool through a trusted mixer. The mixing procedure on the platform is straightforward and quick as well.

The trusted Bitcoin mixers with high liquidity like SmartMixer offer users the highest level of protection and anonymity to personal data. They are designed with several functions that minimize and even eliminate any chances of transaction analysis by bad actors or government authorities. For instance, measures such as multiple transactions, random service fees, and deferred transactions remove the traceability of the mixed coins sent to assigned destination addresses. A randomized service fee or commission to the mixer disallows anyone from discovering the mixed coins’ source and the original amount within the transaction. Multiple transactions are highly recommended as mixers can send the mixed coins across multiple addresses, complicating the pursuers’ work and increasing the complexity by many folds.

Finally, users could also select the time the mixed coins took to reach the assigned destination addresses. This function is called deferred transaction or delayed transaction of the mixed coins. A deferred transaction prevents hackers from determining the origin of the bitcoins quickly, thereby impeding their progress in deciphering information about one’s Bitcoin transaction. As a result, hackers will have to spend several hours or even days to locate the transaction via the blockchain, rendering the hack operation an “utter waste of time.”

With appropriate measures in place, reliable mixers can offer total anonymity to users. Although a centralized third-party provider provides the service, finding the anonymous crypto mixer will also keep your peace of mind as they do not store any logs anywhere on their server. In the unlikely event that a provider is forced by organizations or regulatory bodies to reveal any data from its user database, users are guaranteed the untraceability of their activities using the mixer as no logs are stored. Additionally, users are not required to create an account using the mixing services, thus reducing the chance of transaction details being traced back to the user.

When regulatory entities often convince the cryptocurrency community that the Bitcoin mixer is an instrument for bad actors since the primary purpose of a mixer is to remove the traceability of the cryptocurrency transactions to its origin, many people have misunderstood the true intent of bitcoin mixers – to offer anonymity and privacy to users in today’s world where financial privacy is of paramount importance. It is not as sinister as what regulators have claimed it to be. Consider that traditional banks have been withholding information such as account balances and other personal data of their customers to the public, as they are well aware of their customers’ privacy concerns. Similar actions have been taken by governments, educational institutions, and even eCommerce sites such as Amazon and Alibaba to protect the users’ information from disclosure to the public.

It’s not just lawbreakers who should blend their coins at a Bitcoin mixer. For decades, the laws of many countries have protected the integrity of personal data and the privacy of financial information. On the contrary, popular cryptocurrencies such as Bitcoin and Ethereum are not built to be anonymous. Anyone who obtains a Bitcoin address (similar to a bank account number) can track and view the account’s transaction record through a blockchain tracker readily available online. In that case,
cryptocurrency holders should also have the right to protect their transactional information and privacy, just like how banks and governments are doing to protect the interest of the people. As such, bitcoin mixing services offering Bitcoin users complete anonymity and financial privacy should not be considered ‘illegal.’

Bitcoin and the rest of the cryptocurrency market are emerging as a legitimate form of investment asset, and the underlying blockchain technologies are being applied across various industries worldwide to solve issues in multiple areas. However, as with most cryptocurrencies, the distributed ledger on blockchain networks is public. It is a privacy issue: anyone on the Bitcoin network can access transactional records on tracker sites like Blockchain.com. Should an intervention by bad actors occur, the transparency offered by the Bitcoin network could also allow them to easily access users’ transaction history, as long as they can access the user’s public Bitcoin wallet address.

The new asset class, Bitcoin, is popular amongst investors in the market, albeit not privacy-focused. It is where centralized Bitcoin mixers complement by adding the additional layer of privacy to Bitcoin transactions. Therefore, despite allegations by some regulatory entities, mixers may not lose their foothold as a supplementary service for Bitcoin holders. Renowned analytic firms and other regulators have not rendered coin mixers completely useless. Bitcoin mixing has become incredibly popular since the primary evidence of coin traceability was presented. A pseudo-anonymous character of crypto transactions led to the fact that crypto holders began to look for reasonable and effective ways to increase the extent of confidentiality, and Bitcoin mixing platforms became one among them.