What is a Bitcoin Tumbler or Bitcoin Mixer?

What is a Bitcoin Tumbler or Bitcoin Mixer

Bitcoin is supposed to be an anonymous currency; however it is not entirely true. Bitcoin transactions, even though are mostly nameless, can still be traced back.

Ledger Nano S - The secure hardware wallet

First, Most cryptocurrency exchanges will ask you to submit an ID and transfer funds using a bank account in your own name.

Second, the fact that all transactions are publicly recorded on the blockchain, means that every movement of your coins can be traced from your initial purchase.

Third, people don’t know that Bitcoin wallet software may be associated with your computer’s IP address.

A Bitcoin tumbler is used to disguise the path that your bitcoins came from. Technically speaking, using a Bitcoin tumbler or a Bitcoin mixer is sending your coins to a third party – the mixer. The mixer breaks down the coins into small parts and mixes them with other client’s coins.

You get the coins back, cleaned, minus a small fee.

How to choose a genuine Bitcoin mixer?

It is difficult to separate phishing scams from the real mixers. So what can you do?

you should verify every onion link and choose mixers with good feedback from several online sources.

If you are going to mix a large sum of bitcoin, start with smaller amounts to test the service.

If you found a good and reliable service, you should save the link. Next time you look for it you can be redirected to a phishing site.

Don’t forget to get a wallet – Keep your coins safe!
ledger-nano-s-bitcoin-wallet What is a Bitcoin Tumbler or Bitcoin Mixer?It is strongly advised not to store your cryptocurrency on an exchange, only on a dedicated wallet that you own. Here you can read more about what is a Bitcoin Wallet.

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