The crypto industry is associated with significant financial risks due to the activities of cybercriminals. Therefore, for everyone whose activities are related to crypto transactions, it is essential to ensure the reliability and confidentiality of their conduct. To ensure complete anonymity, there is the crypto mixer
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Introduction To Tumbler
The mixer is a specialized platform designed to mix virtual currency with multiple owners of digital coins. Thus, the connection between the origin of the coins and the digital storage where they were sent is broken. Thanks to such an action, it is impossible to trace the financial transaction itself and to establish the persons between whom it was carried out.
The technology of such a Bitcoin mixer is to hide the open code and generate a new one. After that, the updated coins are returned to their owners.
Consider In Detail The Technology Of The Coin Tumbler
If privacy and security in transactions are essential, choose one of the reliable and proven mixing platforms. By the way, it could be MixBTC.
So, what is the process of mixing digital coins? Each service has its own mixing processes, but we will generally consider the basic principle.
Initially, several users deposit the entire virtual currency into the coin tumbler. Then this mixer creates several addresses to which the coins of each cryptocurrency owner will be sent. Then these addresses will be used when distributing already processed coins.
After placing the digital currency in the mixer, they will be divided into several small amounts. It increases anonymity and prevents detection of the transaction and the address of the crypto storage.
Next, the bitcoins of all participants are mixed. All coins are combined into one group for mixing, and after processing, they will be returned to the participants in the operation. To hide the path leading to the vault of the coins’ owner, a transaction suspension is applied, or the coins will be passed through several intermediary crypto wallets.
At the end of the “cleansing” of the history of virtual assets, the distribution of coins between the participants will be performed; in simple words, customers receive their funds back, but without the ability to track the transaction on them.
Completion of mixing ends with fixing it in a special register, which is automatically erased after a day.
Basic Rules For Using A Tumbler
To use the coin mixer, you need to follow some instructions. To begin with, you select the digital coins to be processed while shuffling. Having entered such a service, you must fill out several items displayed in a particular form.
If you are not using this mixing service for the first time, you must indicate the code you received during the initial use of the mixing service. And if you use this service for the first time, the item must be filled. You should also enter the address of the crypto storage to which the “cleaned” virtual money will be sent.
To increase privacy and security, the function of suspending a transaction for a certain period is applied. It will make it much harder to track down. Each service takes payment for the mixing service; pay attention to this:
- There is a fixed price for mixing, and on different platforms, it can differ significantly;
- There is a commission option, the percentage of which also depends on the service and the number of bitcoins to be processed.
As soon as the mixing is completed, you will receive a notification by e-mail with the prescribed mixing code (if the service was used for the first time). Next, you should send the cryptocurrency to the specified address of this mixer.
When the mixing process is over, all participants who contributed coins for mixing receive their virtual money back, for which it is no longer possible to track the transaction. Then there is automated self-destruction of the shuffle register, and all wallet addresses used in this operation are also erased.
The duration of the mixing process for each platform is different and depends on the technical parameters of the software.
Top Benefits Of Using Tumbler
Many virtual currency owners appreciated the convenience and usefulness of using a cryptocurrency mixer. It is due to a number of the following advantages.
It ensured increased anonymity. Thanks to the mixing of digital coins belonging to several users, it is possible to maintain privacy. It is impossible to track the cryptocurrency wallet address where the coins were taken from and identify its owner.
An increased number of cybercriminals try to break into the crypto storage and steal the digital coins of its owner. Since the fraudster cannot find the electronic storage address, it is impossible to track it.
They are hidden from blockchain analysis. This analytical technology is used for various professional purposes – transaction statistics, transaction amounts, etc. In addition, it can be used to identify the participants in the transaction. But by applying the mixing of the virtual currency used in the transaction, privacy will be fully ensured.
Summing Up
Since privacy and security are paramount when dealing with virtual currency, using a cryptocurrency mixer is useful. Thanks to mixing technology, you no longer need to worry about being able to trace your transactions, discover your digital vault and identify your identity. In addition, you can be sure that cybercriminals will not be able to steal your virtual coins. The main thing is to choose reliable and proven platforms to avoid becoming a victim of scammers.
