All transactions in the Bitcoin network and many other cryptocurrencies are recorded on the blockchain, so this system is as transparent and public as possible. But at the same time, such transparency is a significant disadvantage for cryptocurrency holders who want to remain completely anonymous. For this, the so-called mixers were developed.
Why are Bitcoin mixers becoming popular?
More and more BTC holders are paying particular attention to ensuring their privacy and protecting their funds from external monitoring. It is associated with genuine threats. By obtaining the user’s account identification data and linking it to email and, as a result, to a person, hackers can find out all personal information: how many bitcoins a person has, how many transactions he makes through his addresses, and with whom payments are made in cryptocurrency. Thus, attackers can access email and use it to commit crimes. Therefore, more and more coin owners are turning to Bitcoin mixers to restore a satisfactory level of privacy for their transactions.
The functionality of the service
The Bitcoin mixer breaks each transfer amount into smaller ones, mixed through many random technical wallets. After this process, the user receives the same Bitcoin value but a different set of coins. It makes tracing and breaking the connection between those particular coins and the person difficult. Too much information appears. At the same time, transaction data is encrypted and often automatically deleted after a specific time. It is done according to a transparent algorithm written in the service code.
So, at the output, you get precisely the amount of funds you sent; it will already consist of fragments of transactions from dozens of different users. As a result, the transfer gets confused, and finding where the money came from becomes difficult. At the same time, the complete anonymity of the data of crypto-wallets of all users is preserved.