Cryptocurrency tumbler or cryptocurrency mixing service wiki Wikipedia
As digital currency is spinning up around the world, digital money holders have become more aware about the anonymity of their affairs. Everyone used to believe that a sender can remain disguised while depositing their coins and it turned out that it is not true. On account of the implementation of government policies, the transactions are which means that a sender’s e-mail and even personal identification information can be disclosed. But don’t be frightened, there is an answer to such governmental measures and it is a crypto scrambler.
To make it clear, a cryptocurrency mixing service is a software program that breaks up a transaction, so there is an easy way to blend several parts of it with other coins. After all a sender gets back an equal quantity of coins, but blended in a non-identical set. Therefore, there is no way to track the transaction back to a sender, so one can stay calm that identity is not uncovered.
As maybe some of you know, every cryptocurrency transaction, and Bitcoin is no different, is embed in the blockchain and it leaves marks. These traces play an important role for the state to track back criminal transactions, such as purchasing weapon, drugs or money laundering. While a sender is not connected with any illegal activity and still wants to avoid being tracked, it is possible to use available cryptocurrency tumblers and secure sender’s identity. Many crypto owners do not want to let everybody know the amount they earn or how they spend their money.
There is a belief among some web surfers that using a scrambler is an illegal action itself. It is not entirely true. As previously stated, there is a possibility of crypto mixing to become illegal, if it is used to disguise user’s criminal activity, otherwise, there is no reason to worry. There are many services that are here for bitcoin holders to mix their coins.
Nevertheless, a crypto holder should be careful while choosing a digital currency scrambler. Which service can be relied on? How can one be certain that a mixing platform will not take all the deposited coins? This article is here to reply to these questions and assist every crypto owner to make the right decision.
Eth-mixer review. Cryptocurrency tumbler
Let’s first figure out which features need to be looked at to ensure that a sender trusts their digital money to a trustworthy platform:
- 1) there is normally a fee which is normally negligible (around 1-3%).
- 2) no logs are kept. This implies that no record about your online actions is gathered. This option is extremely essential.
- 3) several output addresses can be added which help to diversify risks and forward mixed coins to different destinations. These addresses are used as a final destination for the sent coins.
- 4) types of cryptocurrencies involved. There are mixers that allow to mix some other cryptocurrencies except Bitcoin.
- 5) such platforms usually require confirmation, and the least confirmations it requires, the better.
- 6) If a mixer provides you with a Letter of Guarantee, it means that you can use it as a confirmation of your participation in the transaction and it keeps safe your coins in case of swindling. Generally it looks like a text file digitally signed using PGP mechanism. The defined features are critical to decide which cryptocurrency mixer to use. There are some more aspects that also need to be noticed and all of them are added into the below table of the top mixing platforms.
The digital currency mixers presented above are among the leading existing mixers that were chosen by users and are highly recommended. Let’s take a closer look at the listed crypto mixers and describe all aspects on which attention should be focused.
Surely all tumblers from the table support no-logs and no-registration rule, these are important options that should not be disregarded. Most of the mixing platforms are used to mix only Bitcoins as the most common cryptocurrency. Although there are a few crypto mixing platforms that mix other cryptocurrencies, such as Ethereum, Bitcoin Cash and Litecoin. Additional currencies give a sender more opportunities, some tumblers also allow to combine coins between the currencies which makes transactions far less traceable.
There is one option that is not represented in the above table and it is time-delay. This option helps a user and a transaction itself to stay incognito, as there is a gap between the forwarded coins and the outcoming transaction. In most cases, users can set the time of delay by themselves and it can be several days or even hours and minutes. To get a better understanding of crypto mixers, it is necessary to consider each of them separately.
Blender has a clear interface, it is intuitive to use and uncomplicated. Time-delay option can be set up to 24 hours. With regard to the fee, there is an additional fee of 0.0005 % per output address. As one of the few, this mixer provides a user with a special mixing code which assures that fresh crypto coins are not mixed with prior deposits. Additional URL (Blender) is also here to make certain that users can get to the tumbler, even if the main link is not available.
As well as others, CryptoMixer has both a clear-web (CryptoMixer). This mixer is remarkable for accommodating extremely large-volume transactions. After public verification of their reserve of 2000 BTC it is clearly that users can trust this mixing platform and their coins will not be stolen. The number of needed confirmations differs depending on the deposited amount, e.g. for depositing less that 25 BTC there is only 1 confirmation required, in case of depositing more than 1000 BTC a user needs to gather 5 confirmations.
To use this crypto mixer, a CryptoMixer code needs to be created. A user should write it down, so it is possible to use it next time. After entering a CryptoMixer code, users need to enter the output address or several of them and then set a time-delay option. A delay time is defined automatically and a user can change it if necessary. A service fee can be also selected from the table depending on the forwarded amount. Each transaction requires extra fee of 0.0005 BTC. Also, a calculator on the main page helps every user to see the number of coins sent and received after mixing.
Based on the experience of many users on the Internet, PrivCoin is one of the leading Bitcoin mixing services that has ever existed. This tumbler supports not only Bitcoins, but also other above-mentioned crypto coins. Exactly this mixing service allows a user to interchange the coins, in other words to deposit one type of coins and get them back in another type of coins. This process even increases user’s confidentiality. Time-delay feature helps to make a transaction less traceable, as it can be set up to 24 hours. There is a transaction fee of 0.0005 for each extra address.
One completely special crypto mixing service is ChipMixer because it is based on the completely different principle comparing to other tumblers. A user does not just deposit coins to mix, but creates a wallet and funds it with chips from 0.01 BTC to 8.192 BTC which a user can divide according to their wishes. After chips are included in the wallet, a wallet owner can deposit coins to process. As the chips are sent to the mixing platform in advance, following transactions are nowhere to be found and there is no opportunity to connect them with the wallet holder. There is no standard fee for transactions on this tumbler: it applies “Pay what you like” feature. It means that the fee is randomized making transactions even more incognito and the service itself more cost-effective. Retention period is 7 days and each sender has a chance to manually clear all logs before the end of this period. Another coin tumbler Mixtum offers you a so-called free trial period meaning that there are no service or transaction fee applied. The process of getting clean coins is also quite unusual, as the mixing service requires a request to be sent over Tor or Clearnet and clean coins are gained from stock exchanges.
There are 3 phases of this mixing process that include:
- 1. pre-mixing coins and then mixing them with others;
- 2. forwarding coins to stock exchanges where they are mixed with coins of other traders;
- 3. clean coins are returned back to the original sender.
It should be pointed out that random amounts are sent in two and more transactions to make them less traceable.
Another trustworthy tumbler is BitMix which supports two cryptocurrencies with Ethereum to be added in future. The mixing process is quite standard and similar to the processes on other mixers. It is possible to set a time-delay feature up to 72 hours and a sender has an opportunity to split the transaction, so the coins are sent to several addresses. Thus, sender’s funds are more secured and undetectable.
Two cryptocurrencies are also supported on SmartMix.io platform. This scrambler is listed because it works quickly and it is trusty. The transaction fee is really low, only the amount of 0.0001 BTC needs to be sent for every extra address. Splitting deposited coins between 5 addresses is also highly helpful for keeping user’s anonymity. Every user is able to select an additional option of delaying the payment meaning that the transaction is becoming even more anonymous.
Let’s take a look at another one of the leading bitcoin mixing services which is incredibly easy to operate. Bitcoin Laundry (Bitcoin Laundry) has a simple interface and it is worth mentioning that the service fee is the smallest possible, it is 0.0% with 0.0002 BTC per extra address. Retention period is 7 days when it is possible for a user to manually remove all the logs which are stored for this period because of any future transaction-related problems. There is a time-delay feature, however, it is not possible to be controlled by a user but the mixing platform only.
Being one of the oldest crypto coin tumblers, BitBlender (BitBlender) continues to be a easy-to-use and functional crypto coin mixer. It is possible to have two accounts, with and without registration. The difference is that the one without registration is less controllable by a user.
The mixing itself is realizable and the transaction fee is charged randomly from 1% to 3% which makes the transaction less traceable. Also, if a user deposits more than 10 BTC in a week, the platform reduces the fee by half. With a time-delay feature the transaction can be delayed up to 24 hours. A Bitcoin holder should be afraid of security problems as there is a 2-factor authentication when a sender becomes a holder of a PGP key with password. However, this mixer does not have a Letter of Guarantee which makes it challenging to address this coin scrambler in case of scams.
And last but not least, there is a platform with many cryptocurrencies to tumbler named SmartMixer (SmartMixer). For now, there are three currencies and Ethereum is going to be added soon. This platform offers a very easy-to-use user-interface, as well as the opportunity to control all steps of the mixing process. A user can set up a delay not just by hours, but by the minute which is very useful. The tumbler provides the opportunity to use a calculator to understand the amount of money a user finally gets. The service fee is from 1 % to 5 % with fees for extra addresses (0.00045529 BTC, 0.01072904 LTC, and 0.00273174 BCH). Having funds from different resources helps the crypto mixer to keep user’s identity incognito. This last mixing platform does not offer its users a Letter of Guarantee.
All cryptocurrency tumblers presented in the article are reported to be reliable having all transactions nameless. It is important to choose a mixing platform wisely, as a sender has no chance to turn to any authority in case of scams. By all means, handling your deposits online can be risky, however, using coin tumblers that are introduced in the article will help every user to reduce risks and be sure of success of the transaction.