Bitcoin is supposed to be the anonymous cryptocurrency that is widely used over its promised anonymity.
As the transactions remain “kind of” public, hence, the bitcoin transactions are “NOT” completely anonymous like the Monero (XMR).
Bitcoin (BTC) is used in all kinds of transactions that include its use in the dark web, so law enforcement agencies reach out for such loopholes that make the tracing of identities dealing with the illegal stuff easier.
However, the only thing that could provide BTC a level of anonymity from getting into the hands of law enforcement is a process called “bitcoin mixing” or also called “bitcoin tumbling”. This can be done using a “bitcoin mixer” or a “bitcoin tumbler”.
WHAT IS A “BITCOIN MIXER/TUMBLER”?
“Bitcoin mixers/tumblers” are services that mix various streams of potentially identifiable cryptocurrency.
The aim of “Bitcoin mixing/tumbling” is to improve the overall anonymity of the transaction as it makes it really difficult to trace the Bitcoin transactions.
In Bitcoin mixing/tumbling, a set of Bitcoin is mixed/tumbled with another group of Bitcoin having similar value.
Thus, the original identity of the Bitcoin is lost through the tumbling process, and this is what makes the Bitcoin extremely difficult to trace.
When cryptocurrencies are mixed through a cryptocurrency mixer/tumbler it is known as cryptocurrency tumbling, the coin mixing services usually charge a fee anywhere from 3 – 5 % of the total amount to be mixed.
SO THE DIFFERENCE BETWEEN BITCOIN MIXER VS TUMBLER?
Well…… It’s the same thing!
Both refer to the same thing which is a process to clean the cryptocurrency or BTC.
WHAT ABOUT COIN MIXING?
In cryptocurrency, “coin mixing” refers to a service that is provided by a third party. The service providers take the coins from the users along with a small fee and return the coins that literally have no connection to the sent ones.
However, the security and anonymity of these centralized services are still questionable.
Users have no guarantee that their money will be returned to them by the mixer for the coins that have been returned to them are not tainted in any way.
Another thing that needs to be considered is that when using a mixer, IP and the Bitcoin addresses might be locked by a third party and the users give up their control of the funds in the high hopes of receiving unlinked funds back.
The mixed funds are used in various places on the dark web including the dark web markets and darknet forums.
HOW DO YOU DO IT?
Bitcoin can be mixed, taking the help of the popular “Bitcoin mixing services” or “crypto tumblers”.
Bitcoin mixing is done once you have BTC in your wallet, but remember.
- Find the best Bitcoin tumbling services and choose the one you would like to go for.
- Check if the tumbling process can be done using the clear web or the Tor anonymous browser.
- Next, you need to configure the destination or the receiving Bitcoin wallet address, the transfer time delay, fund distribution, and the user’s preferred mixing fee. Please note that some of the data that you need to enter before you proceed might differ from one cryptocurrency tumbler to another. The users are generally allowed to send their mixed coins into a maximum of five Bitcoin addresses. However, this varies from one Bitcoin mixer to the other. BTC mixers like MyCryptoMixer.com provide the users with MyCryptoCode, which is a unique code permitting the user to strengthen the privacy process and prevent previously mixed coins to reappear in their subsequent mixed wallet addresses.
- Now you would need to send the required amount to the Bitcoin mixer after completion of the input of the mandatory fields. The users would be displayed with the required BTC amount as indicated by the Bitcoin mixer. This will ensure that every transaction is unique and devoid of any possibility of tracking these transactions by the user’s activity pattern.
- The final step is to patiently await the confirmation stop before you complete the mixing process the users will be brought to a status page that displays transaction status. At this point, the user is not required to take any action.
IS BITCOIN MIXING PROCESS SAFE?
Although Bitcoin mixers or Bitcoin tumblers are used in the Bitcoin mix service to make the transactions untraceable and do provide some level of anonymity, there is “NO Guarantee” that your transactions will not be traced back to you if the law agencies employ a team of crypto experts to work on your case.
A well-known incident involving Larry Harmon had utilized the Helix coin mixer or coin tumbling service along with the Grams darknet market search engine allegedly. He has been indicted owing to the money laundering conspiracy.
BITCOIN LAUNDERING VS MONEY LAUNDERING.
Money Laundering is termed as a criminal procedure of concealing the origin of the money (in this case cryptocurrency or Bitcoin) by passing it through a complex sequence that would clean the funds returned by destroying its original identity.
Bitcoin Laundering is the other term for cleaning money through bitcoin mixers.
This is all about how to mix coins using the best bitcoin mixers of 2020.
Although “BTC Mixing” is illegal and not a guaranteed way of anonymity, yet there is no other way to clean the coins and block the tracing route, in the end, they can all be linked back to you if there is an investigation by law enforcement.
You need to do thorough research on which Bitcoin mixing services you must go for before you jump into the crypto tumbling procedure to avoid any mishaps.
We suggest all our readers should switch over to Monero (XMR) where possible, read more about Monero here.