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Trusted Crypto Tumbler To Protect Your Wealth

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crypto tumbler

Back when Bitcoin originally emerged, over 11 years ago at this point, cryptocurrency transactions were believed to be fully anonymous. This belief stuck around for years to come, but today, we know that, in most cases — this is no longer the truth.

Since the invention of blockchain explorers, it became possible to track every Bitcoin transaction, all the way back to the genesis block. This came as a part of blockchain transparency which promises to eliminate corruption, theft, and other such issues.

However, there is still a need for a certain level of privacy, as people like to keep their wealth to themselves, and not let everyone know how much money they have, or how much they sent for whatever purpose. This is why many are now using crypto tumblers, or mixers.

What do crypto mixers do?

As the name suggests, crypto mixers/tumblers mix up the coins in order to hide/disguise/make it difficult to discover where the coins came from. Things like the amounts, transactions, and wallet addresses to and from which the coins travel are fully traceable, which is why tumblers exist.

In a way, you could say that mixers can add an extra layer of privacy while using Bitcoin, Ethereum, Litecoin, and many other cryptocurrencies. There are many Bitcoin mixers, as well as mixers that focus on these other cryptos, specifically, such as Ethereum mixers. There are also services that offer mixing for multiple coins.

But, they all work in the same way. When you obtain your coins through purchase within exchange (where your identity is known due to current regulations), the exchange knows exactly who you are and how much money you have. The same is true for everyone else who has the authority to request such data from the exchange.

If you simply transfer the funds to your private wallet, anyone will be able to track this transaction. They will see where the funds came from, where they went, and what amount made that trip. With your identity known on the exchange, it is easy to conclude that the wallet address belongs to you as well.

If you send the money to a mixer first, however, it will still deliver the money to your wallet, but it will change the time of the second part of the transaction, as well as the amount that arrives, and the path from the exchange to the wallet will be interrupted. 

This brings additional security and privacy, and makes your use of crypto difficult to track.

Keep your identity safe with cryptocurrency tumblers

Using tumblers for cryptocurrencies has a number of benefits. For example, it allows you to stay anonymous. It can also discourage hackers, who would otherwise be attracted by your wallet if they knew that significant amounts are going in and out. It would also allow you to stay private, as people would be able to see that the coins are entering or leaving, but they would not know whose those coins are. As a result, you can spend them without the transactions being traced to your name.

Not to mention that you still need protection from the real-world criminals, who might go after you if they discover that you own a wallet filled with coins that have become highly-valued.

Shopping with crypto is also becoming more and more popular, with the number of merchants accepting coins growing almost on a daily basis. With additional privacy that comes from the use of Bitcoin tumblers, you can easily purchase anything online without people knowing that it was you.

Bitcoin fungibility

Finally, you can also use crypto tumblers to make your Bitcoin more fungible. The fungibility issue has attracted the attention of many, as people ask the question of whether a certain quantity of BTC can be swapped for another of equal value. Of course, the answer is yes. All Bitcoins come with the same value, regardless of whether the coin you gave is the same that you got back or not.

But, due to the protocol that makes each coin have its own unique hash and signature, it is still possible to track a particular coin. That is why using mixers to give away your particular coins and get others that have the same value can help you stay truly anonymous. No one will know who you are, even if they know where your coin came from, which gives you the ability to hide your identity completely.

Image by WorldSpectrum from Pixabay

Bitcoin

Bitcoin Price Dumps Below $41,000 Amid Uncertainty

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Bitcoin price dumped hard on Monday, briefly slipping below $41,000, erasing gains recorded in the previous week. The premier cryptocurrency seems to have exhausted its recent rally propelled by industry vulnerabilities. At the time of writing, the world’s largest cryptocurrency was trading slightly lower at $41,385. Bitcoin’s total market cap has dipped by 2% over the past day, while the total volume of BTC tokens traded over the same period climbed by 58%.

Fundamentals

Bitcoin price has been facing retracements and a rollercoaster over the past few days after recently rocketing to a 20-month peak. On-chain data has suggested that many investors used the opportunity to take some profits, leading to a decline in the asset’s price.

Bitcoin’s price slump is mirrored in the wider crypto market, with the global crypto market cap decreasing by 1.85% over the past 24 hours to $1.55 trillion. The total crypto market volume has increased by 32% over the same period. The Crypto Fear and Greed Index has plunged from a level of extreme greed to a greed level of 70, suggesting a decline in risk appetite.

Ethereum, the largest altcoin by market capitalization, is currently trading at $2,167, down almost 3% for the day. Meme coins have been hit hard by the market slump, with Dogecoin and Shiba Inu down by more than 4% over the last day.

Last week on Thursday, cryptocurrency experts took notice of…

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Bitcoin

Bitcoin Price is in Consolidation Mode Despite Market Optimism Post-Fed Decision

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Bitcoin price edged lower on Thursday despite optimism in wider markets on the back of the Fed’s interest rate decision. The flagship cryptocurrency has been consolidating above the critical level of $42,000 after briefly topping $44,000, its highest level in 20 months. Bitcoin was trading 0.71% lower at $42,569 at press time. BTC’s total market cap has increased by more than 3% over the last day to $832 billion, while the total volume of the asset traded over the same period jumped by 22%.

Economic Outlook

Bitcoin price has been trading sideways over the past few days, suggesting a pause in its recent rally towards $45,000. The premier cryptocurrency has decreased by 4% in the past week but remains 15.22% higher in the month to date. The digital asset has staged a significant recovery this year after a torrid 2022 in which a string of scandals, including the collapse of FTX, led to a market meltdown, undermining the credibility of the sector.

The crypto market has been buoyed by the Fed’s latest interest rate decision. The US Federal Reserve on Wednesday held its key interest rate unchanged for the third consecutive time, in line with market expectations. With the easing of the inflation rate, members of the Federal Open Market Committee (FOMC) voted to keep the benchmark overnight borrowing rate in a targeted range between 5.25%-5.5%.

Additionally, the central bank indicated that three rate…

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Bitcoin Price Blasts $44K in Spectacular Surge as Spot Bitcoin ETF Approval Looms Large

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Bitcoin price has been hovering above the $43,000 psychological level over the past two days amid anticipation about the potential approval of a spot bitcoin ETF. The flagship cryptocurrency has climbed more than 16% in the past week and nearly 170% in the year to date. Bitcoin’s total market cap has increased by nearly 5% over the past 24 hours to $858.9 billion, while the total volume of the token traded rose by 43%. The Bitcoin price was trading at $43,914 at press time.

Fundamentals

Bitcoin price has posted significant gains over the past few days, climbing to its highest level since April 2022, before the crash of a stablecoin that started a litany of company failures, pummeling crypto prices. The world’s largest cryptocurrency briefly topped the crucial level of $44,000 on Wednesday amid rising momentum despite being massively overbought.

According to analysts, with no spot bitcoin ETF approvals yet and the halving event five to six months away, the market is riding on FOMO. Capital has been flowing in the Bitcoin market amid enthusiasm that the launches of spot ETF will bring in billions of dollars of new investment into the crypto sector.

Investors have already started providing capital as seed money for ETF products. Notably, a recent report by CoinDesk showed that the world’s largest fund manager, BlackRock, received $100,000 in capital from a seed investor for its spot bitcoin exchange-traded fund…

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