Disclaimer: This is not investment advice. Do your own research before acting on any of the information provided in this article. Any form of investing including ICO’s and cryptocurrencies cannot guarantee any return and carries the risk of loss. As with any speculative investment, do not invest any capital which you cannot afford to lose.
Many people think Bitcoin is anonymous. This is common among those new to cryptocurrency.
But who can blame them for thinking that way. After all, Bitcoin has some features that make it seem “anonymous”. The features are the main point of reference for many on the market.
Bitcoin is not completely anonymous
First, because bitcoin uses the P2P network, which is not completely secure. There are loopholes hackers can leverage on to steal your bitcoins.
Secondly, Bitcoin transactions involve inputs and outputs which can be linked. The inputs are those accounts you send BTC from, while outputs are the receiving accounts. All these are necessary in the transaction, but if any is linked to your real account, then you can forget about being anonymous.
Third, when you purchase something online using BTC, you are supposed to enter delivery details. This may involve your contact information, which can link back to your account.
And the most obvious one is the way transactions are recorded. Every BTC transaction is stored on a public ledger. Anyone can access a full node and consequently, your transaction.
Hackers are devising newer methods to track transactions. There have been bad situations in the past where people have watched their accounts closed and or investments slip away.
Bitcoin mixing is the solution
Just because Bitcoin is not anonymous, it does not mean you cannot use it anonymously. Third party service providers have come up to ensure you get the best out of the technology while staying under the radar.
These services, called Bitcoin Mixers or Bitcoin Tumblers cut down the bridge between the input and the output. They mix the Bitcoins, making it hard for anyone to trace the origin. Bitcoin mixer https://mixertumbler.com/ is a top-notch service, that was approved by bitcoin community and its popularity keep growing.
Bitcoin Mixing services are becoming very popular. They are the ultimate solution for anonymity in the Bitcoin business.
A random fee ranging from 1% to 5% is applied to make sure nothing is left to chance.
What happens is that, you send your Bitcoins to an account of your choice on the service. Then choose another account where you want the BTC to be delivered. But before you send, you will need to set a delay time. This is the time you want to wait before the system sends the new Bitcoins.
The Bitcoin mixing service will hold onto the Bitcoins and send you new ones not linked to the original account. They can send you Bitcoins from another account, the same amount as your original BTC, only minus the service charges.
What you need to get started
- A Tor browser to access the web/DarkNet. Anything with Tor-enabled interface can do.
- A Bitcoin wallet. It should contain at least the amount you wish to mix. It can be a normal wallet from the clear net.
- Some Bitcoin sending knowledge.
- And encypted plain paper note. This will help you keep track of the process. It should have your addresses, ID and other personal data.
From here, the process becomes clear. Simply get onto the resource you have chosen to use and enter the address you want to send the coins to followed by the delay time. Then wait to receive new Bitcoins. You are completely anonymous.