Bitcoin is one of the most widely used cryptocurrencies in the world. The growth of the Bitcoin community and the rising value of the cryptocurrency has also made it the hackers’ favorite target. The growing interest in crypto trading and other Bitcoin-related activities has made it much easier for those looking to steal private data and in turn, the cryptocurrency one owns.
It is a well-known fact that Bitcoin is pseudonymous at best, and not anonymous as some tend to believe. The records of any transaction happening over the Bitcoin network is registered on the blockchain, which acts as a public repository where anyone can query such transactions. However, the wallets by themselves do not have any personal information of the user attached to it and remains a string of alphanumeric characters. But, with the increasing sophistication of hackers and advancements in chain analysis tools, it is easier than ever to deduce the identity of wallet owners by making using additional available data like KYC/AML information provided one exchanges or trading platforms, etc. and tracing all transactions made between wallets or merchants to launch a targeted attack with the intention of stealing funds.
What’s the use of Bitcoin Mixers?
If cyber threats aren’t enough there is also a risk of physical harm or attacks as hackers can find out where one lives based on the personal information provided on various platforms that could be compromised. However, it is not hard to ensure complete privacy when it comes to Bitcoin transactions to avoid finding oneself in a situation where the safety of funds or the owner is compromised. The use of Bitcoin mixing services, commonly referred to as Bitcoin mixers, Bitcoin blenders or Bitcoin tumblers could potentially address most of the privacy concerns related to cryptocurrency transactions and holdings.
BitMix is one such service that has been offering reliable and efficient mixing service in the industry. The fundamentals of BitMix is like other mixers where it receives funds from users and mixes it with other deposits and returns the same amount as deposited to a wallet of choice. Once mixed, the bitcoins received will be different from those sent to the platform which will offer anonymity by making it impossible to connect back the tokens to the original owner.
What Makes BitMix Stand Apart?
There are many players offering Bitcoin mixing services, but not everyone can claim that their service is efficient and foolproof. BitMix, on the other hand, can proudly proclaim that it is different from the rest when it comes to the quality of service it provides due to the robust mining infrastructure it has developed.
For starters, BitMix is a global service that can be used by anyone from anywhere. In order to support a broad crypto community, the platform is available in multiple widely spoken languages including English, Russian, Hindi, Portuguese, Korean, Indonesian, German, Dutch and Polish. Users can not only interact in the language of their choice but also use the network of choice to make the transactions as it supports Clearnet, Tor and NoJS for maximum privacy.
With anonymity being the primary purpose for mixing cryptocurrencies, the BitMix system seeks very little information from its users and any information on the platform’s servers are stored on encrypted hard drives. The platform itself doesn’t maintain activity logs for more than 72 hours for additional security and privacy. Even users can choose to erase their activity after receiving clean coins by hitting “Clear Logs” button so at any time, even if someone tries to forcibly gain access to platform records, they may not find anything actionable.
Other unique features on BitMix to ensure 100% anonymity includes the option to set custom fees ranging from 0.4% to 4% so that there are no evident patterns of mixing fees in transaction history; and the use of special code to lock the deposit tokens from being sent back to the same user at any point of time. Combining these features with randomize options will further obfuscate transactions by sending the mixed coins in not one but multiple tranches.
Assured Flexible Service
BitMix’s services are not just confined to Bitcoin. The platform offers the same quality of mixing for Litecoin and Dash as well. Users also have the freedom to get the desired mixing performance out of the platform through manual as well as automatic settings. Those who are in a hurry to get their cryptocurrency mixed, BitMix always maintains a reserve of pre-mixed cryptocurrencies from which the return transaction can be processed immediately after receipt of deposit.
There are minimum deposit criteria to avail the mixing service which is set at as low as 0.005 BTC/LTC/DASH (0.1 BTC, 1 LTC and 1 DASH in the case of randomize option) Each deposit comes with a Letter of Guarantee which is a digitally signed confirmation verifying that the funds have been transferred to the platform’s own Bitcoin address. The Letter of Guarantee confirms BitMix’s obligations towards the customer, for their peace of mind. In an event where any issue arises after 72 hours of an order being placed, the letter will help restore the order and complete the transaction.
Fostering Innovation and Supporting the Crypto Ecosystem
BitMix is committed to creating a world-class mixing service, and also help others who wish to offer services by providing them the necessary infrastructure. The partner program and API solutions on BitMix allow project creators to build their own Bitcoin Mixers and earn instant payouts for referrals made to the platform.
Using mixing services is one of the best ways to ensure the privacy of all transactions on the blockchain and ensure that the main wallet with a considerable amount of funds stays isolated. Whenever a transaction is being made from the main wallet to other wallets, it is a good practice to make the transfer through mixer by setting a higher mixing time. This will prevent hackers from backtracking the transactions to the main wallet and keeps the funds safe from potential phishing or hacking attempts.