Why Bitcoin Privacy Matters and How Bitcoin Mixers Can Help
The Bitcoin community has always been privacy-focused. You only need to glimpse into the early days of Bitcoin to see that supposed privacy was one of the main draws for this currency. Notably, the world’s first cryptocurrency found an audience amongst the Cypherpunk community and eventually the dark web due to the common belief that it provided anonymity to the user.
The Truth About Bitcoin Anonymity
Fast forward eleven years later and most investors know that Bitcoin is anything but anonymous. There is an entire industry flourishing based on unmasking Bitcoin wallet owners and their actions. These forensic firms such as Chainalysis provide their services on a paid-basis, meaning that anyone can use their powerful tracing tools to discover our identity.
Privacy is Liberty
Not surprisingly, there is still a strong push by privacy-focused groups advocating for more protections in the market today. These developers continually create new and exciting ways to obfuscate the true origins of your Bitcoin to keep your identity safe. While none of these systems is 100% full proof, there are some firms that have managed to introduce strategies that make it nearly impossible for forensic protocols to unravel the details of a transaction.
Why You Should Always Mix Your Bitcoin
One of the biggest misconceptions new investors make is to assume that because they are not doing anything “shady” they have no need to mix their Bitcoin. However, a closer examination reveals that Bitcoin mixers protect regular users much more frequently than those seeking to cover up their illegal dealings. Here are the top reasons why you need to use a Bitcoin Mixer in 2021.
Bitcoin hackers are more prevalent than ever. These fraudsters continually probe new platforms to find attack vectors and other ways to steal your hard-earned crypto. Recently, hackers have begun to focus their efforts on large investors more frequently. In the past, major exchanges were the primary target of these scamsters because they held massive amounts of crypto for the taking in shared wallets.
Sadly, hackers have found that their chances of escape are much higher when they focus their efforts on large investors rather than exchanges. This shift in tactics was brought on largely by the introduction of centralized exchange regulations. There is way more investigation following the hack of a regulated exchange versus a personal account.
Hacking individuals is much easier as well. In most instances, the hackers are methodical in their approach. They can take months or years phishing for little bits of information to help customize their assault. Worst of all, these hacks can easily see the frequency and the value of your Bitcoin deposits using forensic platforms.
Another very real concern for Bitcoin owners is government confiscation. Bitcoin’s growth directly detracts from the current centralized power structure. There could be a day in the future where governments outlaw this currency in an attempt to regain any lost control.
Impressively, it would be impossible to shut down Bitcoin’s blockchain completely. However, it wouldn’t be hard for governments to lean on exchanges and other platforms to give up the identity of all Bitcoin holders. This process is already started in terms of centralized exchanges requiring full KYC/AML compliance.
How Bitcoin Mixers Work
Bitcoin mixers introduce various anonymity protocols to obfuscate the origins and particulars of a transaction. There are a couple of different ways they can accomplish this task but the overall goal is the same, give you new Bitcoin that is from transactions not associated with you in any way.
Top Mixing Platforms
There are a bunch of Bitcoin mixers available online. Notably, not all of these platforms are legit or provide reliable services that can protect you. Using a subpar Bitcoin mixer can increase your chances of loss. There are also fraudulent sites that intend to keep your crypto. Here are the top three reputable Bitcoin mixing platforms for 2020.
At the top of the list is Bitcoinmix.org. This platform leverages a variety of proprietary protocols to keep your true identity a secret. The developers behind Bitcoinmix.org wanted to create an easy-to-use mixing service that was suitable for both new and experienced mixers.
Bitcoinmix.org earned a reputation for quality service and competitive fees. The platform offers mixing services based on a sliding fee scale ranging from 2% – 5% transaction fees. If you are new to mixing, Bitcionmix.org is a smart place to start.
The Wasabi Wallet is another mixing application gaining steam in the market. This wallet provides users with more than just the ability to send and receive cryptocurrencies directly from the interface. Users also gain access to powerful CoinJoin features.
In August the firm introduced a major design change that allowed users to CoinJoin with different values than their peers. This feature was a first for the wallet’s privacy-minded technology. Additionally, it introduces a variety of new use cases for mixing tech moving forward.
Samurai Whirlpool Wallet
The Samurai Whirlpool wallet functions similarly to the Wasabi wallet in that it integrates a convenient coin mixing feature directly into the user interface. The main difference is that Samurai introduces a Whirlpool feature rather than utilizing CoinJoin as its primary mixing platform.
Bitcoin Privacy is the Only Way
Since its earliest days, Bitcoin developers and users have sought out new ways to keep their identities safe. Eleven years later, and this desire is still a driving force within the market. As Bitcoin continues on its path to greatness, there is little doubt that there will always be a reason to utilize Bitcoin mixers in the future.
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Disclaimer: This press release is for informational purposes only, the information does not constitute investment advice or an offer to invest. The opinions expressed in this article are those of the author and do not necessarily represent the views of CriptomonedaseICO, and should not be attributed to CriptomonedaseICO.