This year, as more individuals and entities are leaning toward Bitcoin (BTC) as a store of value to hedge against inflation, it is worth noting that transacting in the decentralized cryptocurrency is nowhere near private, as many have assumed when they were first introduced to Bitcoin and cryptocurrencies. Bitcoin is pseudonymous, and your publicly available transaction records could be traced to your IP address and, by proxy, an actual identity. Hence, there is a growing need to conceal your Bitcoin footprint for privacy and security reasons, as the risks and costs associated with Bitcoin transactions are too big to ignore.
Fixing Bitcoin’s design flaw
Coveted Bitcoin mixers, such as MyCryptoMixer, have addressed the pain point of the lack of anonymity while dealing with Bitcoin through a simple and effective process. It offers unparalleled privacy and security features to ensure the anonymity of your Bitcoin transactions.
What is MyCryptoMixer?
As global consumers have been demanding more data privacy in recent years, the demand for anonymity in Bitcoin transactions is growing stronger than ever. MyCryptoMixer obfuscates the trace of your Bitcoin transactions by mixing your fund with a random pool of Bitcoins sent by other users of the mixer.
It is one of the few mixers that do not require you to sign-up and allows you to access the mixer from the anonymous Tor network or a regular web browser such as Google Chrome. In addition, a digital receipt known as the “Letter of Guarantee” will be issued for every completed mix. Transaction logs are only kept for up to 24 hours after your mix to facilitate your support ticket if required.
Unique features of MyCryptoMixer
MyCryptoMixer has introduced a number of features that strengthen the anonymity of your mixed coins while making it even harder for blockchain analysis tools to trace these mixed transactions. Some of these features include:
In order to further obfuscate the mixing process, MyCryptoMixer could also allow you to control several metrics, such as the time required to send the mixed coins to the assignee address(es). You can choose to send the mixed coins instantly or delay the sending time by up to 24 hours.
Splitting your funds between address(es)
Split your mixed coins into 5 different addresses to increase the level of difficulty for anyone who tries to peek into your transaction activity. MyCryptoMixer enables you to customize the fund’s distribution rate for each address. A “Mixing Strength” metric indicator helps you to determine the best split combination for your mixed coins.
Irregular service fee
Unlike most mixers where a fixed service fee is incurred for every mix, MyCryptoMixer users can choose a fee ranging between 0.5% and 5% to the mixer, giving you greater autonomy over the mandatory payment. An irregular service fee can also make it harder for others to trace your mixed transactions.
Use cases for MyCryptoMixer
By using a Bitcoin Mixer (or Tumbler) like MyCryptoMixer, users no longer have to worry about the exposure of their transaction activity to anyone — e.g., merchants — who hold their Bitcoin addresses.
Here are some popular use cases to deploy Bitcoin mixing into your trading routine.
Remittance and value transfer
With the usage of Bitcoin mixer, the Bitcoin recipient — e.g., merchants — will no longer find and obtain your personal information connected to your BTC address when you pay for online services, such as hotel bookings, flights and cross-border payments.
Online purchases of physical goods often expose your actual location to merchants. Bitcoin mixers can be used to ensure that such information about your BTC address, which is associated with your residential address, will become completely unobtainable to the merchant.
A timely solution for Bitcoin users
The significance of privacy and anonymity while transacting in Bitcoin cannot be underestimated in the hyperconnected world. Solutions, such as MyCryptoMixer, are your answer to anonymity, privacy and security for Bitcoin transactions.
If you have any other questions regarding Bitcoin mixing services, check out a detailed guide on how to use a Bitcoin mixer safely and anonymously.