Cryptocurrency tumbler or cryptocurrency mixing service wiki Wikipedia
As digital currency is gaining momentum around the world, bitcoin holders have become more conscious about the confidentiality of their purchases. Everyone thought that a crypto user can remain unidentified while depositing their coins and it came to light that it is not true. Because of the implementation of government policies, the transactions are identifiable which means that a user’s electronic address and even personal identification information can be revealed. But don’t be frightened, there is an answer to such public administration controls and it is a Bitcoin mixing service.
To make it clear, a cryptocurrency mixing service is a program that breaks up a transaction, so there is a straightforward way to mix different parts of it with other transactions used. In the end a sender gets back an equal quantity of coins, but blended in a non-identical set. Consequently, there is no possibility to trace the transaction back to a user, so one can stay calm that identity is not uncovered.
As maybe some of you realize, every crypto transaction, and Bitcoin is no different, is carved in the blockchain and it leaves traces. These marks play an important role for the government to trace back illegal transactions, such as purchasing guns, drugs or money laundering. While a sender is not associated with any illegal activity and still wants to avoid being tracked, it is possible to use accessible cryptocurrency tumblers and secure sender’s personal identity. Many digital currency holders do not want to let everybody know the amount they gain or how they spend their money.
There is a belief among some web users that using a mixer is an criminal action itself. It is not completely correct. As outlined above, there is a possibility of coin mixing to become illegal, if it is used to disguise user’s illegal actions, otherwise, there is no point to worry. There are many platforms that are here for cryptocurrency owners to blend their coins.
However, a crypto holder should be careful while choosing a digital currency scrambler. Which service can be trusted? How can one be certain that a scrambler will not steal all the sent coins? This article is here to answer these concerns and help every bitcoin holder to make the right choice.
The cryptocurrency mixing services presented above are among the top existing mixers that were chosen by users and are highly recommended. Let’s look closely at the listed coin tumblers and explain all options on which attention should be focused.
Surely all crypto mixing services from the table support no-logs and no-registration rule, these are critical aspects that should not be overlooked. Most of the mixers are used to mix only Bitcoins as the most regular cryptocurrency. Although there is a couple of coin scramblers that mix other cryptocurrencies, such as Ethereum, Bitcoin Cash and Litecoin. Additional currencies provide a sender with more options, some mixing services also allow to combine coins between the currencies which makes transactions far less identifiable.
There is one option that is not displayed in the above table and it is time-delay. This option helps a user and a transaction itself to stay incognito, as there is a gap between the sent coins and the outcoming transaction. In most cases, users can set the time of delay by themselves and it can be a couple of days or even hours and minutes. To get a better understanding of crypto mixers, it is essential to review each of them separately.
Based on the experience of many users on the Internet, Blender is one of the leading Bitcoin tumblers that has ever appeared. This mixer supports not only Bitcoins, but also other above-mentioned crypto coins. Exactly this mixing service allows a user to exchange the coins, in other words to deposit one type of coins and receive them in another currency. This process even increases user’s confidentiality. Time-delay feature makes a transaction untraceable, as it can be set up to 24 hours. There is a transaction fee of 0.0005 for each additional address.
One completely extraordinary crypto tumbler is ChipMixer because it is based on the absolutely another rule comparing to other services. A user does not just deposit coins to clean, but makes a wallet and funds it with chips from 0.01 BTC to 9.121 BTC which a user can divide according to their wishes. After chips are added to the wallet, a wallet owner can deposit coins to process. As the chips are sent to the mixing service prior to the transaction, next transactions are nowhere to be found and it is not possible to connect them with the wallet owner. There is no usual fee for transactions on this tumbler: it applies “Pay what you like” feature. It means that the fee is applied in a random way making transactions even more incognito and the service itself more cost-effective. Retention period is 7 days and every user has an opportunity to manually clear all logs prior to this period. Another mixing platform Mixtum offers you a so-called free trial period meaning that there are no service or transaction fee charged. The process of getting clean coins is also quite unique, as the tumbler requires a request to be sent over Tor or Clearnet and renewed coins are obtained from stock exchanges.