A severe misconception floating among inexperienced crypto investors or simply uninformed users of digital coins is the belief in cryptocurrencies’ absolute confidentiality and security as a means of payment. Any current blockchain system with its crypto coin cannot provide 100% anonymity. This is due to the technical specifics of cryptographic money.
The popularity of digital coins is increasing due to ignorance of the nuances or the lack of need for good secrecy of transaction and conversion operations. Despite the 2017-2018 crypto market crisis, virtual currency quotes are recovering. However, for maximum protection of their capital, modern owners of crypto money require additional security mechanisms, which form special services – crypto mixer.
Let’s look at the key aspect of the purpose of such coin mixers. What is their immediate use in the context of the current progress of digital technology?
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Crypto mixers – what are they?
Special services that mix virtual coins to confuse the history of completed transactions are called anonymous cryptocurrency mixers. According to the algorithm involved, coins of different owners are intensively mixed and repeatedly transferred across a network of technical crypto-wallets. The transaction history becomes so tangled that it is impossible to track the origin of the coins. In other words, coin mixers obfuscate the traces of transactions to minimize the possibility of tracking the movements of crypto coins and obtaining specific information about the participants in the transactions.
There are two types of mixing services – peer-to-peer and centralized coin mixers. Peer-to-peer crypto tumbler models are more modern, providing the highest quality obfuscation of the history of transfers in the blockchain! Services that mix crypto coins hide (confuse) the following data through their work:
- where did the coins come from in the crypto wallet;
- who is the owner of the crypto storage;
- what is the balance of virtual currency accounts;
- where does decentralized money go?
The most important information is hidden in the blockchain, so there is an assumption about the exclusively criminal function of Bitcoin mixer. Naturally, such mixing of coins is necessary for criminal individuals; however, law-abiding users often also need to mix crypto assets.
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The main purpose of cryptocurrency mixers
Of course, the primary task of digital currency mixers is to create maximum difficulty in identifying the organizer of a cryptocurrency transfer. Various schemes are involved here, the basic idea of which is identical – to make the last entries in the blockchain utterly unrelated to the sender of the coins.
The widely advertised bitcoin anonymity is, in fact, almost a myth. The developers intended anonymity to have a different meaning. It needs to be clarified among current coin holders that buying bitcoins anonymously needs to be more accurate. The true anonymity of digital currencies is the absence of the need to disclose individual information and the lack of systemic control over funds transfers and control of their destination. Regardless of its type, the crypto coin itself is a database embedded in the blockchain with its sidechains, whether hard forks or soft forks. This distributed ledger stores the historical sequence of transactions made.
Yes, the personal information of the parties involved in the operation is not entered into the blockchain, and the address belongs to a cryptocurrency wallet without personalized identification. This is the only way to explain the anonymous cryptocurrencies, praised by many.
There is sufficient security here because personal data is not stored on the blockchain. However, a single connection of individual information with any cryptocurrency operation (online payment, conversion in an exchanger, etc.) is enough for the distributed registry to store a cryptographic code that can personalize the user. Special authorities, using special programs, can quickly track and reveal the nuances of transfers or exchange actions. Now it’s possible like this:
- learn ways to earn crypto coins;
- obtain information about the introduction/withdrawal of digital coins;
- see the crypto wallet balance;
- View payment purposes and buy bitcoins anonymously;
- determine the owners of crypto storage.
These capabilities of government agencies are proven by the increasing number of arrests of criminal elements working with cryptocurrency and making “black” payments using altcoins or bitcoins.
Something to remember! Financial control and the fraud community are typically interested in reputable transactions involving large sums. It is not necessary to implement illegal manipulations. Unauthorized cryptocurrency transactions, even with a small volume, can attract attention!
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Conclusion
Cryptocurrency mixers are a functional, high-quality way to deeply confuse the traces of past transactions and prevent outsiders from monitoring coins in a crypto wallet. The true uses of digital coins are not necessary – for legal or illegal purposes. If fewer people know the wallet data, the greater reliability and safety of virtual currencies will be guaranteed.
Among the services that mix cryptocurrencies, there are also fraudulent resources whose organizers brazenly steal digital coins. Multiple scrupulous inspections of sites are required to find guarantees of high-quality, stable, problem-free operation of the Bitcoin tumbler in question. Such regular monitoring is necessary since thieves can temporarily disguise themselves.
https://tumbler.io/
http://tumbler222jbg3jjkr7zezg4xp6q3fmbqpjlk5cy4kqxvh5xfmxgosyd.onion/
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