The anonymity tag associated with crypto financial transactions has led the most prominent digital communities to fight over the security offered by the same. Contrary to various beliefs, Bitcoin has emerged to be a traceable identity despite holding its crown of anonymity.
This is one of the primary reasons why many Bitcoin traders have started the use of Bitcoin mixer services to shield themselves from being a part of a financial scam. Cryptocurrencies use strong cryptography or blockchain technology to secure their financial transactions, which are stored in a public ledger. Sometimes, a hacker can use a crypto trader’s account address to trace down several intricate details, causing a threat to an individual’s privacy.
What is Bitcoin Mixing & how it works?
Bitcoin mixing is the process of using a third-party coin mixer space to crackup the connection between your transactions done via Bitcoin (address of sender & receiver) by sending you a new set of coins with no link to your previous transaction history, thereby, ensuring anonymity.
In simpler words, Bitcoin mixing is like pouring your coins and coins owned by others into a blender and muddling up their addresses to reveal new coins, having the same value but a different address link.
What is Ethereum Mixing & how it works?
Just like Bitcoin mixing, Ethereum mixing is the process of using a third-party Ethereum mixer platform to cut all ties between an individual’s old Ethers and its addresses by bringing out a fresh bunch of mixed ETH coins holding a new Ethereum address, thereby ensuring privacy.
In mere words, Ethereum mixing is like spilling your share of Ether coins and coins owned by others into a tumbler and mix up up their addresses to reveal new ETH coins, having the same value but a different address link.
FAQs- Frequently Asked Questions about Bitcoin Mixer & Ethereum Mixer
1. Do Bitcoin mixer & Ethereum mixer services store personal data?
No, Bitcoin & Ethereum mixer does not store or record any personal data of an individual using the services of the platforms like email, log info, etc.
2. Are Bitcoin mixer & Ethereum mixer services safe?
Yes, the Bitcoin & Ethereum mixing services are entirely safe to use. They maintain anonymity & privacy of a user with their 100% automated system that works without any human assistance.
3. What is the minimum Bitcoin amount that can be mixed?
The smallest amount required for using the Bitcoin mixing service is 0.01 BTC. Any amount lower than 0.01 BTC will be deposited as a donation by the third part space.