What Are Bitcoin Mixers and How to Stay Incognito with Their Help?

Bitcoin Mixer

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.

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Malware From The Pirate Bay May Hijack Website To Steal Crypto

The movies downloaded from The Pirate Bay bring a malware to the user’s computer. That was the conclusion reached by a security researcher, with the nickname  0xffff0800 in Twitter. He told that when he downloaded a movie ‘The Girl In The Spider’s Web’ from TPB, a .LNK shortcut with CozyBear malware got to his computer.

However, the Cozy Bear malware is just a decoy, the real thing that brings damages is Powershell commands. Once the malware reaches the computer, it carries out malicious actions, like disabling Windows Defender and installing viral extensions in Firefox and Chrome browsers. Moreover, it edits the appearance of the website on the user’s computer.

The movie is an application itself which links the computer to the external malicious servers.

Source: Bleeping Computer

Moreover, the newly installed viral extensions can modify the JavaScript code and add some advertisements to the main page, like it is shown below.

Source: Bleeping Computer

What is the most dangerous is that the malware can edit the appearance of the web page and add or change the information without the user’s awareness, this ability allows the malware to steal the crypto. For example, if the user open Wikipedia page on a compromised system, he/she is likely to see the message saying “Wikipedia now accepts donations in form of bitcoin” and a ‘DONATE’ sign. All the donations will go to the hacker.

Source: Bleeping Computer

In addition, the malware is able to change crypto wallet addresses provided on the pages. Unfortunately, you will not even notice how the hacker stole your money.

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Cryptocurrency Prices Today, January 18: Cryptocurrencies Are Relatively Stable

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the Coingecko online platform, Bitcoin (BTC) added 1% over the past 24 hours. The price at the time of writing is $3611 per coin.

Cryptocurrencies are demonstrating both slight increase and decrease:

Bitcoin Cash added 0.61% over the past 24 hours and costs $129 per coin;

Ripple grew by 0.21% and costs $0.32;

EOS increased by 2.72%, and its price is $2.51;

Litecoin gained 1.1%, and its value is $31;

Cardano added 1.62%, and its cost is $0.046;

Stellar gained 2.44% and costs $0.10;

IOTA increased by 5.41%, and its cost is $0.31;

Dash grew by 2.21%, and its price $72;

Monero became more expensive by 0.35% and costs $45.

Over the past 24 hours, Ethereum added 0.66%. The rate of the coin is $123.

The total market capitalization is $122 billion. Bitcoin accounts for 52.4% of the total volume. In monetary terms, this is $64 billion.

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BitPay Transactions Surpasses $1B in 2018, B2B Payments Records 225% Increase

BitPay is a US-based bitcoin payment provider which has recently announced its financial results of the past year. The company has processed over $1 billion in transactions alone. Moreover, its B2B payments record 225% increase in compare to 2017.

The main reason of such a lift-off is that Bitpay added a lot of new clients, like Dish Networks, HackerOne, and the State of Ohio, as well as many other law firms, data center providers, and IT vendors.

The CEO of BitPay, Stephen Pair, commented on this development:

“BitPay’s B2B business continues to grow rapidly as our solution is cheaper and quicker than a bank wire from most regions of the world. To process over a $1 Billion for the second year in a row despite Bitcoin’s large price drop shows that Bitcoin is being used to solve real pain points around the world.”

BitPay mostly supports Bitcoin transactions, however, it also supports payments with Bitcoin Cash, Gemini, and Paxos. During that year a lot of companies had to lay off their employees due to the market situation, yet, Bitpay conversely increased its manpower by 78 percent in the past year.

In addition, BitPay is attractive to the investors, in 2018, it raised $40 million in Series B funding round taking the total raised capital to $70 million.

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Cryptocurrency Prices Today, January 17: Cryptocurrencies Are on the Border of the Red and Green Zones

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) lost 0.8% over the past 24 hours. The price at the time of writing is $3582 per coin.

Some cryptocurrencies slightly decreased, others added in price a little:

Bitcoin Cash lost 2.6% over the past 24 hours and costs $126 per coin;

Ripple dropped by 1.1% and is $0.32 in rate;

EOS added 0.34%, and its price is $2.44;

Litecoin decreased by 2.66%, and its value is $30;

Cardano grew by 1.3%, and its cost is $0.044;

Stellar fell by 1.73% and costs $0.10;

IOTA lost 3.42%, and its value is $0.29;

Dash dropped by 0.52,% and its price is $71;

Monero became more expensive by 1.21% and costs $45.

Over the past 24 hours, Ethereum lost 2.17%. The exchange rate of the coin is $121.

The total market capitalization rose to $121 billion. Bitcoin accounts for 52.4% of the total volume. In monetary terms, it is $63 billion.

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Crypto Exchange Bittrex Partners With Bitsdaq To Conquer Asia Market

One of the biggest US-based cryptocurrency exchanges, Bittrex, announced that it was partnering with Bitsdaq to open a special trading platform in Asia. This platform will provide different digital assets to the Asian investors.

Moreover, Bitsdaq will operate on Bittrex technology and will be built based on Bittrex’s experience in the blockchain.The platform will allow users to trade various digital tokens, including tokens a available on the Bittrex exchange.

The Chairman and CEO of Bitsdaq, Ricky Ng, said:

“We are honored to bring Bittrex’s extensive cryptocurrency options to the Asia market.….It takes a unique combination of advanced technology and financial expertise to launch an efficient, reliable and secure platform for trading digital assets in Asia. We found the ideal partner to help provide a safe environment for our customers and the entire community.”

In accordance with the statement, the Bitsdaq platform will control a lot of things connected to the management of the platform, such as customer support, marketing, sales and customised development. In addition, it will take care of customer operations.

The day of the launch is yet to be announced, though customers can pre-register for an account on Bitsdaq’s website.

We remind you:

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Coingecko Publishes Its Annual Crypto Report for 2018

The online platform Coingecko published it crypto report for the passed year of 2018, where it analyzed the most important events in the crypto industry, including the market trends, crypto thefts, ICO news, stablecoins, Bitcoin Cash wars etc.

As for the market tendencies, there is no doubt that 2018 was the year of collapse. The total market capitalization decreased by whopping 78.85%, with the main period of decrease falling onto Q4. Meanwhile, the trading volumes remained quite stable.

Regarding the top-5 coins in the rating, they decreased as follows:

  • BTC – by 73%;
  • XRP – by 82%;
  • ETH – by 84%;
  • BCH – by 93%;
  • EOS – by 66%

The largest crypto exchange by the end of 2018, according to the trading volumes, turned out to be Bithumb, followed closely by ZB.com and Binance.

As for stealing cryptocurrency, the estimated money loss from criminals and scammers amounted to around $867.45 million. The biggest crypto theft was Zaif hack which took place in September and resulted in the theft of $23.5 million.

The most popular blockchain platforms for creating decentralized apps became Ethereum, EOS, Steem and Tron.

The synopsis of the stablecoin development in 2018 looks the following way:

Thus, we can definitely see that though 2018 was a hard year for crypto and there were much more downs than ups, the industry is still afloat and developing. Hopefully, 2019 will be a better year.

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