Bitcoin mixers are services that make your transactions untraceable in the crypto network. A website or an application accepts the client’s coins, divides them into small parts, and mixes them with other users. As a result, the user receives the required amount but consisting of shares that previously belonged to other clients.
Previously, mixers used to be applied mainly for illegal financial transactions. Now they are often used to provide security or hide the fact of owning a cryptocurrency.
All such services charge a fee. Usually, its size depends on the amount of the transaction and the number of mixes. Ideally, not a single particle of the resulting sum should be associated with the original user.
How to Choose the Best Bitcoin Mixer?
There are several parameters that one should especially pay attention to when choosing a mixer.
- The service must have a large reserve. If the transaction is larger than the pool of coins, then after mixing, new funds will be allocated in installments.
- Reputation. It is desirable to find out as much information about the service as possible.
- Blockchain analysis for identification. Some bitcoin mixers have unique labels that allow analysts to connect users’ wallets. In this case, the client can be traced.
You do not need to create an account to work with that mixer. The system has a customizable fee rate. For transactions of 20 BTC, one confirmation is required, for the rest — 6. The service peculiarity is a weekly waiting for a deposit. Logs are kept for 7 days. There is a thread on Bitcointalk. The mixer’s operation principle is based on so-called chips, i.e. bitcoin-addresses funded by certain amounts (0.001 BTC, 0.002 BTC, 0.004 BTC, etc., up to 4.096 BTC). The clients, depositing their crypto, receive the amount in blender. The blender are anonymous. They can be spent for any purpose, but only with the help of a secret key.