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Bitcoin tumbling and bitcoin mixing are practically the same thing, allowing users to mix their bitcoins, making them anonymous. This article will focus on various topics and concepts associated with this technique. But first, let’s quickly recap what a bitcoin tumbler is, how it functions, and let’s explain why anyone would use it.
What is important to know about Bitcoin tumblers?
Bitcoin tumblers, often referred to as bitcoin mixers, are tools, services, platforms, or procedures with the sole purpose of increasing a user’s anonymity. It’s all possible thanks to various tumbling strategies where coins are aggregated from all participating users and then split randomly. In the end, every user receives the same amount, minus the mixing fee.
There is a good reason why anyone would use the bitcoin mixer, despite the fact that this could appear insignificant or even strange to newcomers to this crypto world. This reason is simple: improvement of privacy. More than ever, it is clearly obvious that bitcoin is pseudonymous rather than anonymous. In fact, once bitcoin users link their identities to their bitcoin wallets, it becomes simple to trace any user’s bitcoins.
However, services like tumblers offer a perfect opportunity to regain privacy. Even if this privacy was previously breached, thanks to bitcoin tumblers, anyone can keep his financial privacy under control. And while many people would assume that services like these are largely prioritized by criminals, the opposite is true. The majority of bitcoin tumbler users are regular, ordinary people who do not wish to disclose all aspects of their financial situation, and bitcoin tumblers provide exactly this.
Why Bitcoin tumblers might be problematic?
These services might have some issues, though. We have specifically examined the mortality issues and legal implications of bitcoin tumblers. However, there are several other issues with these services, such as traceability.
While it may appear at first glance that the coins that emerge from the tumbling process are untraceable, the opposite is true. They may still be tracked since they continue to be broadcasted to the blockchain, which is a public record. The relationship to the user’s individual identification was the only thing altered. And this might not even be true if the users chose to employ a centralised tumbler. Centralised tumblers might eventually turn into a single point of failure. Since these platforms are not open-source, many believe that they keep transaction records. This would mean that even after the coins have been mixed, they may still link the identity to a new wallet address. However, the fact that, after the tumbling all subsequent transactions will essentially be the same presents a more serious concern. The wallets used in the tumbling process may be tracked and traced by on-chain analytics organizations, and they may even attempt to connect them together, therefore making bitcoin tumbling useless. The tumbler’s size is also important, since the larger the tumbler is, the more difficult it will get to trace the user’s identity back to them.
Furthermore, there aren’t many bitcoin tumblers or mixers that have been in existence for a longer period of time. The majority of these services and platforms have issues, either as a result of exploitation and hacking or from the perspective of regulators and politicians. Some of them were scams that just ripped off their users. Trust is the most important factor, and while decentralized tumblers typically have issues like higher transaction fees, longer transaction processing, or more difficult interfaces, they are more reliable than centralised tumblers.
Anonymize your Bitcoin with WHIR
Have you heard of any issues with the bitcoin tumblers mentioned above? Or perhaps you’ve had some other unpleasant experiences that have discouraged you from using these services and forced you to only purchase, store, or trade bitcoin on KYC exchanges. Don’t worry, there is a simple solution to that. This solution is called Whir.
Whir provides consumers with a very simple solution that enables them to ensure that their transactions are both anonymous and safe. Users only need to enter the recipient address where they wish to transfer their bitcoins or satoshis and that’s it. Whir then generates a new address for the transaction where you will send your desired amount. The funds will be anonymously and instantly sent by Whir to the recipient’s address.
Whir employs CoinJoin to guarantee top-level anonymity in the bitcoin space and runs all of these services through private browsers like Tor. This option to anonymize bitcoin with Whir is now available for transactions up to 1 BTC, with a 0.001 BTC minimum. This brings a wonderful compromise between the opportunity to produce small amounts of money privately and the inability to launder huge sums of money that might have been stolen.
Finally, Whir charges are exceptionally low. With only 1% of the transaction fee, Whir is undoubtedly one of the least expensive solutions available for anyone who wants to make their bitcoin stash anonymous.
Conclusion: Since bitcoin’s creation, it has been popular to mix or tumble bitcoin. The idea of making bitcoin anonymous is very appealing to libertarians, privacy fanatics, and other groups of individuals who want their money to be both safe and private. However, it is far from finished because there are drawbacks that might cause bitcoins to be traceable, even if users employ a bitcoin tumbling service. Therefore, Whir offers a rather straightforward option that anyone can use without the need to download a new wallet or use any special software. If you want to ensure that your bitcoins are private and anonymous and do not want to go through any bitcoin tumbler or mixer, use Whir. Whir service can be simply used just like any other bitcoin transaction.