Perhaps you have never heard much about Bitcoin mixing, but it is essentially a service that allows Bitcoin owners to mix their coins together in order to protect their anonymity. because the nature of the block chain is such that it is a ledger which can never change, all transactions cryptocurrency, with the exception of privacy coins, are public, although your Bitcoin address is private in that it does not reveal your identity, it can still be linked to you if you are signed up for a cryptocurrency exchange, which is attached to your name.
However, signing up for a coin mixing service does not necessarily resolve your problem. You also need to be able to trust the service, since they know the originating addresses of all parties who are mixing Bitcoins. the links to Bitcoin mixing services on this page on our website will give you the best Bitcoin mixers and 2021.
There are any number of reasons why someone would want to mix/tumble their Bitcoins:
- Keeping your transactions/holdings secret if you offer a service that accepts Bitcoins
- Restricting a politically and economically unstable government’s ability to track and confiscate your finances (Myanmar, N Korea, Venezuela, etc)
- For the same reasons why you would not want businesses or individuals to be able to read your banking statements.
Naturally, the Bitcoin mixing services we recommend are found on the dark web and you will need to have the TOR browser installed. You can read more about the process of mixing bitcoins in this article. Time will tell whether the services can be banned, since a number are centralized, but because legislation often lags the technology curve by years, it is doubtful they’ll go away. For this reason, however, the best services are decentralized or peer-to-peer, and impossible to take down.
Very few Bitcoins are mixed for illegal purposes, however…only 2.7% according to Chainalysis. Most people who mix their Bitcoins simply want more privacy.