Connect with us

Bitcoin

Reaching true Bitcoin anonymity through the use of mixers

Published

on

Bitcoin anonymity

There used to be a time when Bitcoin transactions were considered fully-anonymous. Back then, cryptos were only getting started, and Bitcoin was pretty much the only one that was used, apart from a handful of the first altcoins that followed. However, as the crypto industry continued to develop, current blockchain analyzers were created, and it became clear that Bitcoin’s transparency also includes tracking the coins’ movement, even when you are simply withdrawing them from your exchange to your wallet.

This is why it became necessary to use Bitcoin mixers, also known as Bitcoin blenders or Bitcoin tumblers, such as BitMix.biz, in order to reach true anonymity.

What are Bitcoin mixers, and why do you need them?

Bitcoin mixers, as the name suggests, are online services that mix Bitcoins in order to disrupt their traceability.

Let’s say that you have a certain amount of BTC in your wallet on your crypto exchange of choice. With all the exchanges having to follow KYC/AML procedures, that means that you need to verify your identity, so that the exchange — and therefore, the authorities — will know exactly who you are and how much money you earned through trading and investing.

Once you withdraw those coins to your wallet, blockchain analyzers can track the transaction, and so your wallet will no longer be anonymous — everyone will be able to find out that it belongs to you. This is a dangerous knowledge to leave out in the open, as hackers often hack the exchanges, and steal sensitive data. That way, they can also learn which wallet belongs to you, as well as how much money you have within.

They can then either try to hack the wallet or maybe try to infect you with ransomware and request that you send them your Bitcoins in order to leave you alone.

This is where Bitcoin blenders come in. They act as a middleman between your exchange wallet and your personal wallet. Simply put, you can withdraw the money from the exchange into a mixer. The coins then get mixed with those belonging to other users, and you leave the mixer with the same amount that you entered with, only with different coins.

That way, the coins cannot be traced, and from there on, you can safely withdraw them to your wallet.

Benefits of using Bitcoin tumblers

If you are interested in trying out a reliable and fast Bitcoin tumbler, we can recommend using BitMix.biz. This service is widely known for its efficiency, reliability, and speed. It offers support in a number of different languages, including English, Russian, Chinese, Hindi, Portuguese, Korean, German, Indonesian, Polish, and Dutch.

In addition to that, it doesn’t only let you mix Bitcoins, but also Litecoins and Dash, which are relatively new additions. For even greater security, it offers support for Tor, NoJS, and Clearnet, which might also be attractive to some users.

You can also use the service for mixing even the small amounts of BTC, such as 0.005 BTC (or LTC, or DASH). This is the minimum amount that you can enter and mix BTC. Meanwhile, it also lets you set a custom fee, between 0.4% and 4%. This is also very useful for improving anonymity, as having a fixed fee would allow bad actors to identify your transaction according to the fee you had paid. So, choose your own unique fee and cover your tracks even further.

Also, if you were worried about the amount of time that it might take in order to finish the mixing process and transfer your money back to your wallet — you can rest easy. The transfers are instant, and your funds will be sent to your wallet instantly, as soon as you get the confirmation of your transaction. This is possible because BitMix already has a number of mixed coins in its reserves, so you don’t have to wait for other users to bring their BTC into the mix.

Also, you don’t need to worry about your information being kept by the service, as all entries get removed within 72 hours from the moment of mixing unless you request instant removal. As for those 72 hours, the data will spend them stored on a fully encrypted hard drive, and that doesn’t even include any logs.

The service also provides other features, such as the randomize option that you can select for a minimum amount of 0.1 BTC or 1 LTC. This option lets you withdraw your money in multiple transactions, instead of a single one that would carry all of your mixed funds. That way, you can cover your tracks even further, and pretty much achieve full anonymity.

Lastly, there is a letter of guarantee that this Bitcoin blender provides you with, containing the address where your coins are sent to be mixed. That way, you will know that the address was truly generated by BitMix’s servers and that it doesn’t belong to another individual. 

Conclusion

Bitcoin mixers are a perfect way to hide your real wallet address and maintain some level of anonymity in the crypto world, which also increases your security. After all, it doesn’t matter if someone knows how much money you made by trading if they don’t know where that money has gone to. This is how you can stay safe in a modern crypto world, and why services like BitMix.biz are crucial to maintaining your anonymity.

Image by MichaelWuensch from Pixabay

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

Published

on

Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

Continue Reading

Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

Published

on

Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

Continue Reading

Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

Published

on

Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

Continue Reading

Press Release