What is bitcoin mixing exactly?
To understand bitcoin mixing, there are a few basic words you have to be aware of. We already know what bitcoin is and there is no need to go back. But there are several other key terms involved as follows.
- Bitcoin transaction. A bitcoin transaction is simply a transaction involving a sending, and receiving account. When you send bitcoin from one account to another, it is said you have transacted.
- Inputs and outputs. For a transaction to be complete there must be a sending account and a receiving account. A transaction can only be complete if these two are tied.
- Private keys and public keys. You use your username and passwords to get into your wallet to make a transaction. These are related to your private keys. If somebody will find out your email, wallet username or even password it could be harmful for your BTC. These are important components of a bitcoin transaction.
- Anonymity. Bitcoin is said to be ‘anonymous’ because there are no middlemen in the transactions. This means the transactions are directly between two participants. Theoretically, no one can see track your transaction.
- A blockchain. A blockchain is simply a public ledger on which transactions are stored. Every transaction is made freely available for anyone smart enough to put one and one together.
These terms describe what a bitcoin transaction is. Unfortunately, they don’t make bitcoin anonymous. Bitcoin is described as pseudo-anonymous.
Staying anonymous is key to transacting bitcoin. Hackers and bad actors can track your account to your real life and use it to hurt you. If they don’t steal your investments, they will sell the information to other bad actors.
The solution with bitcoin mixing services
Bitcoin mixing services are services that have come up to help bitcoin users stay anonymous. They have been created to specifically ensure no one tracks your transaction.
Bitcoin mixers are also known as bitcoin tumblers and shufflers. They take your bitcoins and give you a similar amount from a different address.
The concept of bitcoin mixing is not a new one. It originates from the dark web where money launderers and similar actors mixed their money to avoid being tracked. For now bitcoin mixing become a common service, because if you are buying Tesla with your bitcoins you don’t want anybody know how many coins do you have on your original address.
Today, bitcoin mixing is used for similar purposes. You can use tumbling to simply hide from prying eyes and hackers. Try bitcoin mixer https://bitcoinmix.org in case you are looking for old and trusted one.
How does bitcoin mixing work?
It is very simple to use a bitcoin tumbler.
- Identify a good bitcoin mixer. There are many mixers today and you need to ensure you get the right one. Then get into the website. You don’t need to create an account with them.
- Input the address you with to send the bitcoins to and choose your delay.
- Wait for the confirmation after the delay time elapses.
These services have provided the best solution to anonymity. Take note however that every traction through them is based on trust.