This is a promoted article provided by MyCryptoMixer
If you bought 1 bitcoin (BTC) on March 17, 2020, when the COVID-19 pandemic was roiling financial markets, you would have more than doubled your money by late July, when the value of bitcoin soared past $10,000. Some other cryptocurrency assets such as ether (ETH) and ripple (XRP) have also enjoyed favorable price outlook in recent weeks. Stock markets have shot up as well, but their performance pales in comparison to the best performing crypto assets.
Ironically, even as cryptocurrencies gain a foothold in the financial market, their great investment volatility and an increasing mistrust from centralized institutions create a strong call from governments around the world and financial institutions to implement know-your-customer (KYC) and anti-money laundering (AML) compliances on cryptocurrency investments. Although such bureaucratic measures are implemented in the best interest of protecting users of cryptocurrency platforms, they could further infringe the users’ privacy by preventing anonymity in cryptocurrency-related transactions.
Anonymity (or privacy) may seem to be of paramount importance to hackers or individuals who are engaging in illicit activities, but it is actually a critical matter to undertake for any avid cryptocurrency users. With increased anonymity, users will not be limited by regulations hindering the use of cryptocurrency, and they will also be able to enhance and maintain their privacy in the hyperconnected world that we are in today.
Understanding The Bitcoin Mixer
By properly masking your crypto transactions, you can remove the traceability of your pseudonymous Bitcoin transactions and correlation to your online data privacy in the hyperconnected world that we are living in today. Making your Bitcoin transactions untraceable could better protect you with an added level of financial privacy, and the advancement in technology has offered better measures that could protect you right from the beginning, during your cryptocurrency purchase.
In recent years, an easy-to-use crypto privacy tool is gaining prominence among Bitcoin investors, wherein your pseudonymous Bitcoin transaction could be made untraceable and likely achieve complete anonymity from prying eyes.
This method is commonly known as bitcoin mixing, or otherwise known as bitcoin tumbling.
For starters, the bitcoin mixer is often referred to as an online coin mixing service that allows the user’s bitcoin funds to be obfuscated from the public and even blockchain analytics firms. Mixed bitcoin achieve anonymity by having these coins “mixed” with other coins in a mixing pool, and thereafter returned as an equivalent, but not the same set, of bitcoin back to the user. Such processes are known to “break the traces” and thus ensure full anonymity for those who mixed their bitcoin.
Here’s how to mix bitcoin securely and anonymously:
Although it only supports the best performing cryptocurrency — bitcoin, at the moment — there are upcoming plans to roll out support for other pseudonymous cryptocurrencies like ETH based on its community’s feedback. As a customer-centric mixing service provider, it is constantly looking to innovate and provide an ease of use for beginners on how to mix bitcoin.
MyCryptoMixer is also one of the few mixers on the market that supports both TOR and Clear Web mixing, offering tech-savvy individuals access to the mixing service through the anonymous TOR network. Also, it is worth noting that there is absolutely no account registration required for their service, making the transaction much harder to be traced later on.
It is also being suggested through tests that there is no maximum limit, which translates to a wide-ranging amount of BTC accepted for mixing. Users may also choose to select up to five destination wallet addresses, increasing the complexity of transaction tracing from external analytic tools.
Some mixers do store the transaction logs for as long as seven days due to a variety of reasons, but MyCryptoMixer is designed to prioritize its promise to its users. Due to security reasons, logs are only held for up to 24 hours before they are automatically deleted by the provider. This decision is made for unlikely events where the database is compromised, thereby risking the leak of transaction details of its users.
It takes just four steps to achieve bitcoin anonymity:
MyCryptoMixer.com is well-known for its ease of setup through its user-friendly interface. Under most circumstances, the mixing process on the platform is a very simple four-step process and takes less than five minutes to complete as briefly explained in the following:
1. Check that the web address is correct
As mentioned earlier, MyCryptoMixer allows the user to access its mixing service through both the Clear Web and TOR anonymous browsers. The first step is to ensure that the website address (https://MyCryptoMixer.com and http://mymixerxtukle6mo.onion) is correct. It is well documented online that there is a growing number of phishing attacks, in which bad actors create similar-looking websites to trick users into inputting information that may compromise their identity and crypto assets. For an optimal experience, use a desktop browser to visit the website. Click on the Bitcoin icon to proceed to the next step.
2. Input your Bitcoin addresses
The first part of the mixing process involves configuring the destination (or receiver) Bitcoin wallet address, transfer time delay, funds distribution and the user’s preferred mixing fee (between 0.50 percent and 5.00 percent, which is coincidentally one of the lowest mixing fees around). MyCryptoMixer’s straightforward interface allows the user to complete the relevant fields easily, either by text input or adjusting the values through a slider.
Users are allowed to send their mixed coins into a maximum of five destination Bitcoin addresses. Additionally, repeat users who have used MyCryptoMixer.com before would have obtained what they call “MyCryptoCode.” This unique code allows the user to strengthen the privacy process by preventing previously mixed coins from reappearing in their subsequent mixed wallet addresses.
3. Send the required amount to the mixer
Upon completion of the input of the mandatory fields, users will be brought to the next page where they would be shown the “sending” Bitcoin wallet address. In order to enhance the anonymous process, users would be shown the required BTC amount as indicated by the mixer. This is to ensure that every transaction is unique, eradicating any possibilities of tracking these transactions through the user’s activity pattern.
4. Await for confirmation
Prior to completion of the mixing process, users will be brought to a mixing status page where the transaction status is shown. No action is required from the user end at this point. As long as all information as furnished by the user is accurate, the mixing process is done.
As a customer-centric bitcoin mixer, MyCryptoMixer is offering its users transparent tracking and round-the-clock support in the event of a transaction dispute. While most mixers support ends at the end of the mixing process, they are the only one of the few mixers that truly cover the entirety of the user’s Bitcoin mixing experience. To find out more on how to mix bitcoin, you may refer to the detailed guide on how to mix bitcoin using MyCryptoMixer.com.
You can contact the MyCryptoMixer team at email@example.com.
The post MyCryptoMixer.com: How to mix your coins using the Best Bitcoin Mixer (Tumbler) in 2020 appeared first on Bitcoin Magazine.
Source: Bitcoin magazine