June 9, 2020, 6:39 p.m.
Bitcoin has a well-documented anonymity problem. The revolutionary blockchain technology that underpins Bitcoin’s functionality also means unprecedented transaction transparency. You can see the activity of any address or wallet, making it potentially possible for blockchain analysis firms to deduce patterns and identify the real owner of any bitcoin. While there are many privacy coins that address the issues of privacy and anonymity inherent in Bitcoin, they are not as widely accepted by merchants and also do not present as appealing an investment opportunity. Bitcoin remains the most popular cryptocurrency for payment and holding funds.
Unfortunately, bitcoin does not offer the privacy you might be hoping for in a cryptocurrency. It's natural that you wouldn't want all your financial information to be completely public, so how can you be comfortable knowing that your bitcoin transactions are traceable? Using a bitcoin mixer helps to restore the privacy you need to keep your crypto finances safe. Used correctly in conjunction with a VPN and Tor, bitcoinmixer offers you the top-level anonymity you're looking for. Here are our top reasons for using our service.
1. Financial privacy
The blockchain allows easy access to financial information you may consider private and personal. For example, say you get paid in BTC and want to move your payments to cold storage. If you have the payment sent directly to that cold wallet, the person paying you can see exactly how much you're holding and where else you've sent payments. Would you let your boss look at your bank statements? If you think your financial activity isn't the business of the people who pay you, use a bitcoin mixer before moving your BTC to their destination wallet. When you take this step, all they can see is that your payment went to the mixer’s address. After that, they have no way of knowing where it went or accessing the activity of the destination wallets.
Blockchain analysis is always improving. According to a CipherTrace report, 87% of crypto transactions are now traceable-- including bitcoin transactions. Some transactions are more sensitive than others. Bitcoin combined with a mixer has helped many people whose situation requires a high level of security, such as journalists and lgbt individuals facing oppressive regimes or violence. If your bitcoin activity requires true anonymity, you need to use a bitcoin mixer.
The legal framework surrounding Bitcoin and other cryptocurrencies is constantly shifting. Even with the best intentions, you might end up on the wrong side of the law from one day to the next. There are no laws that explicitly forbid mixing your Bitcoin, and keeping your bitcoin stored anonymously today with the help of a bitcoin mixer may help you avoid legal entanglements in the future. Of course, you retain the ability to declare your bitcoin at any time should you need to.
Bitcoinmixer is committed to providing you with the best possible anonymity with a simple user experience and low fees. Please see our other blog articles for more tips for keeping your bitcoin anonymous and secure.