Full Article: Bitcon Mixer
What is a Bitcoin Mixer?
Originally designed a decade ago,Bitcoin blockchain is a cryptographic protocol that offers a pseudonymous nature in its design. Although all cryptocurrency transactions, including the address of the wallet and the amount of currency moved, are public and traceable on a public block explorer, all transactions are transparent and public.
For this reason, it is only possible to use a cryptocurrency on a public blockchain anonymously when interacting with a Bitcoin mixer or other cryptocurrency mixers.
Crypto mixers help users keep their transactions private by sending the funds they want to use to a service that can mix them.
A number of Bitcoin and crypto mixer services are available on the internet nowadays, and most of them do not require KYC verification (know your customer).
In public block explorers and other sites that show the underlying transactions of cryptocurrencies, it is shown that person “A” sent funds to a Bitcoin mixer (along with hundreds of other addresses), and person “B” received funds from the Bitcoin mixer (alongside hundreds of other people). In spite of this, it would be impossible to prove who sent which crypto asset to who.
The result of this is that crypto mixers can fully anonymize cryptocurrency transactions, which as a result, provides the possibility for a dirty Bitcoin or another cryptocurrency asset to be laundered.
In addition, the words “Bitcoin mixer” and “Bitcoin tumblers” are frequently used interchangeably. But, there is a key difference between the two. It is important to understand that Bitcoin mixers provide a decentralized mixing service, whereas Bitcoin tumblers are typically offered by third parties and are centralized.
Full Article: Bitcon Mixer
