What Are Bitcoin Mixers and How to Stay Incognito with Their Help?
The vast majority of people that are not really into cryptocurrency topics believe that all transactions on the Bitcoin network are anonymous. But actually this statement does not correspond to reality. It is worth noting that you can still send Bitcoins relatively anonymously. In this article we will tell you what are the ways to do this, and how to use them correctly. Contents: (please, click the topic to scroll down to it)
  1. Briefly about bitcoin transactions
  2. How to make anonymous transactions on the Bitcoin network?
  3. Anonymous transaction instruction
  4. Disadvantages of bitcoin mixers
  5. Conclusion

1. Briefly about bitcoin transactions

We have already published a detailed article on how the blockchain transactions work. But in order for this article to be an autonomous one, let's briefly go over the main aspects: - the time of a Bitcoin transaction depends on the workload of the network and the specified commission, it may be delayed up to 72 hours; - transactions are carried out by recalculation of wallet balances, data on it are entered in the public register, afterwards it is not possible to cancel the transfer; - all users have the opportunity to track a Bitcoin transaction, and though there are no names in the register, you can not call those financial transactions anonymous anyway.

How, then, can you leak info by carrying out bitcoin transactions?

- by paying for goods with Bitcoins and mentioning the real delivery address; - by withdrawing funds from exchanges to credit or debit cards.

2. How to make anonymous transactions on the Bitcoin network?

There are several ways to make a transaction more anonymous:
  1. use encryption services for IP addresses (VPN, proxy, TOR etc.);
  2. generate a new address for each new transaction;
  3. do not pay in Bitcoin for those goods on the Internet, where you need to enter the physical address of delivery;
  4. use Bitcoin mixers.
Third-party developers who are not related to Bitcoin network support have come up with ways to make a transaction and "not leak" the address of the wallet. The most popular method to remain incognito is to use the so-called "Bitcoin mixers". These are special Internet services that act as a mediator and mix the transaction (break it into an unlimited amount of parts), and eventually send it to the recipient's wallet. The larger the amount is, the more parts the transaction can be divided into, and, correspondingly, made even more anonymous. It should be noted that confirmation of the Bitcoin transaction may not occur when using such resources, as Bitcoin mixers are very often closed. You can use them only at your own risk. Also, in order to perform an anonymous BTC transaction, you can use certain applications that you can find in Darknet (the "dark" part of the Internet where illegal activities are usually performed).

3. Anonymous transaction instruction

For obvious reasons, we will not advise you to use a certain Bitcoin mixer, since there are simply no reliable and durable ones. Until the July of 2018, coinmixer.se was quite a popular service, but now it is closed, and such a trend is traced in most of these services. The interface of all these resources is pretty much the same, so we will only mention the basic steps and some nuances that must be taken into account when working with them:
  1. create a new transaction on the official site of the resource;
  2. enter the wallet addresses (yours and the recipient’s), specify the number of coins and the delay time (it is very important to understand that the longer the delay is, the more secure and anonymous the transaction will be);
  3. as a rule, you must then fill in the captcha;
  4. then you need to choose the method of sending funds to the service account;
  5. as a confirmation of the transaction you need to save a special guarantee letter.
That’s all, after this, you must be patient and wait for the operation to be completed.

4. Disadvantages of Bitcoin mixers

The main disadvantage of this kind of services is the dependence of users on third parties (owners of mixers). In fact, in order to use the Bitcoin mixer services, it is initially necessary to transfer coins to their wallet. That is, you can not independently follow the Bitcoin transaction during its execution. You have to trust the service and hope that it will not close, and its creators will not disappear with your money.

5. Conclusion

Thus, transactions in the Bitcoin network are not anonymous by default, if you have the desire and certain resources, you can easily track them. But anonymization of the financial operations with BTC is possible, for this you can turn to the special services - Bitcoin mixers. They mix your transaction among hundreds of thousands of others for a fee, about 1-3% of the total amount, after which it will be almost impossible to track it. But you need to understand that such services are not entirely reliable, and transactions take a long time to be completed. Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/