Mixing service is a service that helps you stay anonymous when using cryptocurrencies. It breaks the connection between your old wallet and a new one. And BitMix is one of those mixing services that keep your crypto safe.
As you may know, Bitcoin transactions are never truly anonymous. Bitcoin activities are recorded and available publicly via the blockchain — a comprehensive database which keeps a record of bitcoin transactions. And when you finally use Bitcoin to pay for goods and services, you will, of course, need to provide your name and address to the seller for delivery purposes. It means that a third party can trace your transactions and find ID information. To avoid this, such mixing service provide the ability to exchange your bitcoins for different ones which cannot be associated with the original owner.
The platform will take your bitcoin, mix it with other deposits, and give you the same amount of bitcoin in return. It’s designed to reduce bitcoin tracking, “clean” your coins, and help ensure anonymity on the transparent bitcoin network.
How does it work?
On the bitcoin network, your transactions are entirely traceable. Someone can view your bitcoin wallet, then trace all transactions made by that bitcoin wallet over time – including who you sent your coins to, how much money you have, and where you’re spending your coins. However, BitMix promises to anonymize your bitcoin transactions.
The service already has prepared pre-mixed bitcoins (or other coins) for you. So all you need to do is to fill the form and send the required amount of coins to the provided address. The mixed coins will be then sent back to you automatically.
A bitcoin mixer service like BitMix will take your bitcoin, then give you different bitcoin in return. The platform collects everyone’s bitcoin deposits, mixes them up into one central account, and then returns the bitcoins to users. You get the same amount of bitcoin (minus a fee), but different bitcoin from different parts of the blockchain.
With BitMix, you get a letter of guarantee. That letter of guarantee is proof of BitMix’s obligations. When they give you their bitcoin address, they’ll provide a digitally-signed confirmation that this address has genuinely been generated by the server. That letter is always signed from the BitMix main bitcoin account (that account is publicly available on BitMix.biz).
The platform also uses a special 12 symbol “code” to ensure you get your bitcoin back every time you use the service. You save that code. That code also 100% excludes you from receiving your own coins anytime in the future.
Why do I need a mixing service like BitMix?
That may not seem like a big deal because your wallet is still anonymous. However, here are a bunch of cases when it would be wise to consider BitMix or a similar platform:
- If you even once tie your personal data to your wallet (like post your email address online with your wallet address), then someone could trace your bitcoin wallet to your identity. This could put you at risk of being physically harmed by criminals, targeted by tax authorities, or investigated by other law enforcement – among other unwanted problems.
- If you’ve ever used a bitcoin exchange that requires KYC/AML verification (i.e. you uploaded a picture of your ID), then your personal information is tied to any bitcoin you purchased over that exchange.
BitMix Features
- Fully Anonymous
After your order is invalid, BitMix will remove any information about your transactions. Absolutely no logs or personality identifying information is kept regarding your use of the Bitmix.Biz service.
- Instant Transfer
Money is instantly transferred to your address after your transaction is confirmed.
- Partner Program
BitMix pays users when they refer others to the platform. They’ll pay for every transaction made by an invited user.
BitMix Fees
The platform charges a mining fee of 0.4 to 4%. You can set the fee manually when you’re mixing your bitcoins. The address fee is 0.0005 BTC per output address to cover any transaction fees charged by miners.
BitMix.Biz’s mixing process takes up to 24 hours, although it’s usually “almost instant” depending on the current service load.
You’re required to mix a minimum of 0.007 BTC and a maximum of 1000 BTC. Transactions outside this range will not be accepted.
Summary
There are plenty of bitcoin mixers and tumblers available online today, and BitMix is a legitimate option that you can use in order to protect your cryptocurrency.
