San Francisco, CA, 3rd May 2021, ZEXPRWIRE, Bitcoin mixers are the type of services that mix your BTC from different sources to obscure the transaction history. Using such services, Bitcoin holders or Bitcoiners can protect their privacy and key the spying eyes away from assessing the history of their funds, transactions and any other information about them.
Though Bitcoin addresses are anonymous or pseudo private, and they don’t really reveal the specific information or identity of the owner or holder. But they can be traced back to the exchanges or other points through which the owner may expose and reveal their real world identity. For example, if you withdraw bitcoin from an exchange where you’ve identified yourself, the exchange knows that the withdrawal address is yours. There are also more advanced techniques — such as blockchain analysis — to tie Bitcoin addresses to real-world identities.
What are Bitcoin Mixers?
Bitcoin mixers are a type of software (in some cases a solution or service or SAAS) that let the holder or user to mix their coins with other users in order to achieve more privacy and maintain anonymity.
As explained in the above example, The next time coins move from these addresses, users risk revealing all sorts of personal information. Depending on how they spend the coins, they could reveal how many coins they own (even on other addresses), what they spend their money on, and more.
By mixing their coins, users can obscure the ties between their Bitcoin addresses and real-world identities. This allows them to use Bitcoin more privately.
WHY USE A BITCOIN MIXER?
There are many reasons some bitcoin holders and users don’t want the history of their BTC holding or transaction to be discovered.
Bitcoin Mixing software or services can obscure this analysis in many different ways. These software, services or platforms can be centralised or decentralized platforms, Lightning Network-style payment channels and projects that use privacy-focused altcoins as intermediary mixing steps.
Coinomize bitcoin mixers, for instance, identify the groups of users that send the same amount of BTC to a new Bitcoin address that they control and then merge all of the individual transactions into one main transaction. Users then take the same amount of BTC they originally sent back out, and now they have effectively obscured the previous activity of their bitcoin. Other services charge fees that are then used to financially motivate people to offer their own bitcoin to be mixed, thus improving the mixing efficiency.
Introduction to Coinomize
Coinomize offers fast and accurate Bitcoin mixing for users, as soon as the transaction is made. It then severs the link of that transaction, making it impossible for anyone to trace back the original Bitcoin wallet used to deposit the coins.
No history or transaction log: Coinomize doesn’t keep the transaction logs or any other user-related data traced back to the user after transacting with them. Here, clients have the opportunity to erase the records themselves, or if not, an auto-deletion occurs after 72 hours removing the records permanently. The procedure allows for utmost accuracy in ensuring user private data security and anonymity.
100% User identity protection: Coinomize offers users a payment mixing system through a bitcoin mixing, also called bitcoin blender, making a transaction untraceable for both the sender and the recipient. Coinomize also protects the user’s identity through the use of an anonymizing feature.
When coins are mixed, they are sent to the specific withdrawal address providing every user with complete privacy and anonymity during the transaction.
Steps to perform Bitcoin mixing using Coinomize
- Enter up to five BTC addresses and send the coins you want to mix to the newly generated address. Only one confirmation is needed.
- Coinomize, shuffle your coins and make them untraceable. They don’t save any logs from you even not your IP Address. All orders are automatically deleted.
- Once the mixing process is complete, coinomize will send you new, clean BTCs, with the delay you choose, to your Addresses.
More details about cryptocurrency mixing and the CryptoMixer platform can be gathered through their official website https://coinomize.biz/
Name: Tosha Kendrick
Company Name: Coinomize
The post How Coinomize can help protect your Bitcoin transactions appeared first on Zex PR Wire.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Times of Chennai journalist was involved in the writing and production of this article.