The sole purpose of making financial transaction through Bitcoins was to hide the identity. Even though it does the job, but it still leaves some hole. When you are doing the money exchange, you will seem anonymous to the receiver. However, someone with little programming skills can easily track you down. The digital route of the transaction is enough to do so.
What
are Bitcoin mixers?
The Bitcoin
mixer is a solution, a form or service, or you can call it software.
The software programmes to mix the coins of the users and protect their
personal information.
How
do the mixer software work?
There
are two main mixers options, out of a hundred that was developed over the years:
- Centralized mixers- It does not directly mix
the coins of the users. Instead, it accepts the coins as payment and then
sends different coins to the actual receiver. But using this mixer can be
a little tricky, as the mixer is well aware of the user's identity.
Moreover, with this mixer, you require the utmost trust. Because the mixer
may accept your coin and not make the final payment. To avoid such
scenarios, it is better to use authorised centralized mixers.
- ChaumainCoinJoin Mixers- it is a more modern
version of mixer solution. It allows a group of users to create a large
payment together. When users make the Bitcoin payment in one single group,
it conceals each other identity. No one can be sure whose coin belongs to
whom. Over the top, this mixer solution works so well that not even the
receiver getting the final transaction can distinguish between the coins
and their owners.
When a celebrity is buying a product they do no promote, it will create a buzz in the media that they betrayed their brand. Sometimes some artists like to stay anonymous and would like to receive the payment for their work secretly. They often make payments through Bitcoins, and the mixer can help in a situation like that.
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