Blockchain is a decentralized distributed network of data. There is a widespread opinion among users about the anonymity of cryptocurrency and transactions with them. This is not quite true, since the data is recorded in a register and also stored on the computers of the network participants. It is possible to trace the operation, recover information about the origin of each coin. Bitcoin mixers are used to anonymizecoins. They differ in the principle of operation and the degree of mixing.
What is a bitcoin mixer (Bitcoin mixer)
Because of the mistaken belief in the anonymity of digital assets, attackers are sure that they can use crypto-coins with impunity to evade taxes and conduct illegal transactions. But this is not the case, as all transfers and participants in the process are tracked.
The anonymity of transfers is ensured by programs – bitcoin mixers. These are resources that significantly complicate, and ideally make it impossible to track cryptocurrency transactions in the blockchain network. The transaction is divided into small parts, mixed between the addresses of wallet owners. After the recipient receives the required amount, but for several transactions.
The mixer acts as both an application and a website. Such services accept crypto coins, mix them with others and send them to the right address.
What it is for
Bitcoin is a convenient means of payment. With the help of these coins, fast P2P transfers are ensured. The payment is unknown to the fiscal authorities, transactions are not carried out through bank accounting registers. At the same time, the distributed network stores information about all transactions, albeit without linking them to a specific person. Analyzing the data will make it possible to trace the chain of transfers and identify the initial or final owner.
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Attackers use services to anonymize transactions. Their goal is to conceal income and evade taxes. Law enforcement agencies are fighting this.
In addition, cryptocurrency is used for settlements on the black market, including in the Darknet.
However, not always the anonymization of the transfer is related to illegal actions. There are justifiable reasons to hide the use of crypto coin:
- Security of the transaction.
- The reluctance of a particular user to show the presence of an asset.
Mixing programs:
- Close the possibility for attackers to track the transactions of law-abiding owners of digital coins.
- Protect personal information.
- Keep fraudsters from stealing assets.
Principles of operation
The functioning of the digital asset blender is based on the principle of splitting and blending. The total amount of the transfer is broken into small fractions: the more parts, the higher the anonymity. All of them are blended with pieces of other transactions into a single whole. “Pure” coins are sent to the user. It is difficult to trace such transactions.
Legality of use
It may seem that the anonymization of bitcoin transactions is not quite legal. Legal regulation of cryptocurrency in different countries differs, there is no unified approach. Some states allow digital assets as means of payment, while others prohibit them. The approach to the very definition of cryptocurrency also differs. In some countries it is equated to property, in others it is recognized as a legal tender.
The legality of using bitcoin mixers depends on the position of the state on this issue and its policy towards cryptocurrency. There is nothing illegal in the very fact of the existence of services for anonymization.
Different structures analyze transactions with digital assets. Fraudsters are also interested in this. But the goals of information collectors are different:
| Law enforcement organizations | The digital world is completely unexplored, not regulated in the legal field. Attackers can use cryptocurrency to launder money, finance terrorism, trade in illegal drugs. Law enforcement agencies of different countries want to take control of transactions. |
| Fraudsters | Attackers are analyzing the blockchain to figure out wallets with large amounts of cryptocurrency, hack them and steal assets. |
| Blockchain researchers | In order to improve the algorithms of blockchains, it is necessary to analyze the processes in the network. The collection of such information is ongoing, some of the data is in the public domain. There is a possibility of cooperation between analysts and law enforcement agencies, cybercriminals. |
Features
The use of programs for anonymizing cryptocurrency has nuances. Features of the application of bitcoin mixers:
- A connection through a proxy is recommended for connection.
- Each resource issues a letter of guarantee, which contains the wallet number and code. This information confirms the owner’s rights to the coins sent for mixing.
- Techniques to increase anonymity – deferred withdrawal, dividing the deposit into parts.
Varieties
The following types of Bitcoin mixers are offered on the Internet:
- Peer-to-peer.
- Centralized.
They differ in the principle of action, the level of confidentiality, the peculiarities of application.
Centralized
They include the first generation of transaction anonymization services. The essence of the method of centralized mixing – the user sends his bitcoins, receives back the cryptocurrency of another client. The principle is simple: the more users, the higher degree of anonymity the mixer can provide.
Services keep cryptocurrency on their balance sheet, which is also mixed with the users’ assets.
Some programs use additional methods to anonymize transfers:
- Service fees are determined randomly. This makes it difficult to track a transfer over a fixed mixer fee.
- Deferred transfer. The user receives “clean” coins a few hours or even days after contacting the service. Such a procedure is more difficult to track by the time of recording in the blockchain.
- Using multiple transactions – cryptocurrency is split into fractions, then sent to the user from different wallets.
Peer-to-peer
They act as an alternative to centralized transaction mixing services. Peer-to-peer mixers are platforms where BTC holders join groups to form transactions. None of the participants have information about other users, mixing stages, and proportions. Transactions go through several mixes before reaching the wallets. The order and number of coins are determined randomly.
Different protocols are used to form peer groups:
- CoinSwap.
- CoinJoin.
- SharedCoin.
The best Bitcoin (BTC) mixers for 2024
To enhance the anonymity of bitcoin transactions, there are dozens of programs. The list of the best ones includes:
- Yo!Mix
- ChipMixer.
- BitBlender.
- CryptoMixer.
- Blender.
- FoxMixer.
Yo!Mix
Yo!Mix service uses an innovative mixing technology that provides maximum anonymity. The developers guarantee: the user will not be identified if he used a clean address to receive coins. Bitcoin mixer is distinguished by such features:
- Instant mixing. The client can independently set the desired delay.
- Does not store logs about operations.
- There is support for the Tor browser.
- A clean version of the site without JavaScript.
- Low commissions.
ChipMixer
This service does not require registration. It uses mixing in the past tense, which excludes getting your own coins. The principle of the method is that the service creates addresses in advance, to which certain amounts of cryptocurrency are deposited. The user receives coins that appeared before his address. Sent BTC are immediately available for further use. Commissions for the service are not charged.
CryptoMixer
The service is known as one of the fastest. Assets amount to about 2000 BTC, which causes the trust of users. From the features can be distinguished:
- Customizable payout delay.
- Splitting the transaction to several addresses for withdrawing bitcoins.
- Guarantee letter as a confirmation of the user’s right to cryptocurrency.
- Reserve on your own wallet in the amount of 2000 BTC.
- The function of identification of one’s own coins.
Blender
Mixer of cryptocurrencies using CoinJoin protocol. Output to several addresses, there is a possibility to choose the time (delayed transaction). Protection from own coins is provided – the service guarantees that the user will not get part of his assets back. The commission for the service is from 0.5%.
BitBlender
One of the first mixers, which has been operating since 2013. It has the following features:
- High speed of processing requests.
- Commission in the range of 1-3%.
- Customizable withdrawal delay up to 99 hours.
- Irrevocable deletion of user data.
- It is possible to use several addresses for withdrawal.
- Deletion of logs of all operations.
It is worth noting two-factor authentication, which is bad for the anonymity of mixer users.
FoxMixer
Service with a simple interface and a transparent payment scheme. Mixing cryptocurrency using different methods – classic, dynamic.
Among the features can be highlighted:
- Letter of guarantee to confirm the user’s right to digital assets.
- Customizable payout delay.
- Availability of API for developers.
- Control of the mixing process in real time.
The commission for the service is 1%.
How to choose the best service
Among the above crypto-mixers there are solutions with different mixing methods and degree of anonymity. Each has advantages and disadvantages that affect the user’s choice.
During the search for the best service, you need to focus on:
- Positive reviews on cryptocurrency forums.
- The history of the service.
- A large reserve of own cryptocurrency for mixing.
- Lack of complaints from users.
- Acceptable commission.
- Ability to delete the account and usage logs.
- Onion address in the Tor browser.
Instructions for use
To clean the cryptocurrency from the traces of past transactions it is necessary:
- Select a service for mixing.
- Send the cryptocurrency to the generated address.
- Save the guarantee letter or personal code received in response to confirm the right to bitcoins.
- Choose the level of mixing, delay time of the operation (optional, depends on the mixer).
- Receive “clean” coins to your wallet.
Enhancing anonymity
To increase the level of privacy of cryptocurrency, BTC mixers, in addition to the standard mixing of coins, use additional methods:
- Withdrawal to multiple addresses.
- Protection against receiving your own coins.
- Delaying the withdrawal date (it is more difficult to track the transaction over time).
- Using the Tor browser.
Advantages and disadvantages of using
The advantage of the programs is the removal of the history of previous transactions, receiving a “clean” coin.
However, the use of bitcoin mixers does not provide a 100% guarantee of anonymity. It is possible to decipher the transaction history of a coin that has undergone the mixing procedure. For this purpose, clustering analysis is used.
Algorithms have been developed that identify addresses with high accuracy. Such programs have been created – Bitfury, Chainalysis and others. As a result, it is possible to identify people who used mixers to purge crypto coins.
Among the programs for anonymizing digital assets, there are services that deceive users. It is possible to identify the attackers only by reviews on forums, none of the victims will complain to the police.
There is a risk of getting after mixing coins with a “dirty” plume, obtained illegally. As a result, there are problems with the organs of order.
Frequently asked questions
💸 What happens if I send less than the specified amount for mixing?
Many mixers set a minimum amount for mixing. Transferring a smaller amount will be considered as a donation to the project developers.
📜 What if I lost the guarantee letter from the service and closed the tab?
The document and identification code are necessary to confirm the right to the tokens sent to the mixer. Once the guarantee is lost, it will be very difficult to prove ownership.
❔ The service generated a transfer address, can I use it for my own purposes?
The mixer creates a direction for internal operations. It is not allowed to use it for other purposes.
🔼 What does the speed of increasing anonymity depend on?
The speed of mixing is affected by the features of the crypto coin itself, the amount of the transaction, the number of wallets used for mixing. When using deferred withdrawal, the user himself customizes the term of the transaction.
❗ Is the use of a mixer associated with money laundering?
No. Mixing does not mean laundering, it is a procedure to anonymize the transaction and the user.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.
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