Cryptocurrency tumbler or cryptocurrency mixing service wiki Wikipedia
Since bitcoin is gaining momentum across the globe, digital money holders have become more aware about the confidentiality of their affairs. Everyone thought that a sender can remain disguised while depositing their digital currencies and it turned out that it is untrue. Because of public administration controls, the transactions are detectable meaning that a sender’s electronic address and even personal identification information can be disclosed. But don’t be worried, there is an answer to such public administration controls and it is a cryptocurrency tumbler.
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 user gets back an equal quantity of coins, but mixed up in a completely different set. As a result, there is no way to trace the transaction back to a user, so one can stay calm that identity is not revealed.
As maybe some of you are aware, every cryptocurrency transaction, and Bitcoin is not an exception, is imprinted in the blockchain and it leaves traces. These traces are essential for the state to trace back outlawed transactions, such as buying weapon, drugs or money laundering. While a sender is not connected with any criminal activity and still wants to avoid being traced, it is possible to use accessible bitcoin mixing services and secure sender’s identity. Many bitcoin owners do not want to let everybody know the amount they gain or how they use up their money.
There is a belief among some web surfers that using a scrambler is an illegal action itself. It is not completely true. As previously stated, there is a possibility of cryptocurrency mixing to become illegal, if it is used to disguise user’s illegal actions, otherwise, there is no point to be concerned. There are many platforms that are here for bitcoin holders to tumbler their coins.
However, a crypto holder should pay attention while choosing a digital currency scrambler. Which platform can be trusted? How can one be certain that a scrambler will not take all the deposited digital money? This article is here to reply to these concerns and help every crypto owner to make the right choice.
Doge mixer / Cryptocurrency tumbler
Let’s first find out which features need to be considered to ensure that a sender trusts their money to a trustworthy platform:
- 1) there is usually a fee which is usually negligible (around 1-3%).
- 2) no logs are kept. It means that no information about your online actions is collected. This option is immensely essential.
- 3) various output addresses can be added which help to diversify risks and send cleaned coins to multiple destinations. These addresses are used as a final destination for the deposited coins.
- 4) types of digital coins involved. There are tumblers that enable to mix some other types of digital money except Bitcoin.
- 5) such platforms usually require confirmation, and the least confirmations it requires, the better.
- 6) If a scrambler gives you 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. In most cases it looks like a text file digitally signed using PGP technology. The defined options are important to choose which cryptocurrency mixing service to use. There are some more features that also need to be noticed and all of them are listed in the below table of the top mixing services.
The crypto scramblers presented above are among the best existing mixers that were chosen by customers and are highly recommended. Let’s take a closer look at the listed crypto mixers and explain all aspects on which attention should be focused.
Surely all tumblers from the table support no-logs and no-registration policy, these are important options that should not be neglected. Most of the mixing platforms are used to mix only Bitcoins as the most regular cryptocurrency. Although there is a couple of crypto tumblers that mix other coins, such as Ethereum, Bitcoin Cash and Litecoin. Additional currencies provide a sender with more opportunities, some tumblers also allow to mix coins between the currencies which makes transactions far less identifiable.
There is one feature 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 outgoing 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 tumblers, it is necessary to review each of them separately.
Blender has a clear interface, it is intuitive to use and straightforward. Time-delay option can be set up to 24 hours. With regard to the fee, there is an additional fee of 0.0005 % per outgoing address. As one of the few, this cryptocurrency tumbler provides a user with a special mixing code which guarantees that new crypto coins are not blended with previous deposits. Additional URL (Blender) is also here to ensure that users can get to the mixer, even if the main link is not working.
As well as others, CryptoMixer has both a clear-web (CryptoMixer). This mixer is notable for accommodating extremely large-volume transactions. After public verification of their reserve of 2000 BTC it is without a doubt that users can trust this mixing platform and their deposits will not be stolen. The number of required confirmations depends on the number of deposited coins, 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 operate on this crypto tumbler, a CryptoMixer code needs to be invented. A user should note it, 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 feature. A delay time is defined automatically and a user can adjust it if necessary. A service fee can be also chosen from the table depending on the sent amount. Each transaction requires additional fee of 0.0005 BTC. Also, a calculator on the main page helps every user to understand the number of coins sent and received after mixing.
Based on the experience of many users on the Internet, PrivCoin is one of the best Bitcoin tumblers that has ever existed. This tumbler supports not only Bitcoins, but also other aforementioned cryptocurrencies. Exactly this mixing service allows a user to exchange the coins, in other words to deposit one currency and receive them in another currency. This process even increases user’s confidentiality. Time-delay feature helps to make a transaction untraceable, as it can be set up to 24 hours. There is a transaction fee of 0.0005 for each extra address.
One absolutely extraordinary crypto mixing service is ChipMixer because it is based on the absolutely different rule comparing to other mixers. A user does not simply deposit coins to clean, but makes a wallet and funds it with chips from 0.01 BTC to 8.192 BTC which a user can split according to their wishes. After chips are included in the wallet, a wallet owner can forward coins to process. As the chips are sent to the mixing platform in advance, next transactions are untraceable and there is no opportunity to connect them with the wallet owner. There is no standard fee for transactions on this tumbler: it uses “Pay what you like” feature. It means that the fee is randomized making transactions even more unidentified and the service itself more affordable. Retention period is 7 days and every user has an opportunity to manually cleanse all logs prior to this period. Another mixing platform Mixtum offers you a so-called free trial period meaning that there are no service or transaction fee charged. 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 steps of this mixing process that include:
- 1. pre-mixing coins and then mixing them with other coins;
- 2. forwarding coins to stock exchanges where they are combined with coins of other traders;
- 3. new coins are returned back to the initial user.
It should be pointed out that random sums are sent in two and more transactions to make them less identifiable.
Another trustworthy mixing platform is BitMix which supports two cryptocurrencies with Ethereum to be added in future. The mixing process is relatively typical and similar to the processes on other mixing services. It is possible to set a time-delay option up to 72 hours and a sender has an opportunity to divide the transaction, so the coins are sent to several addresses. Thus, sender’s money are more protected and untraceable.
Two cryptocurrencies are also supported on SmartMix.io platform. This tumbler is on the list because it works fast and it is trusty. The transaction fee is quite low, only the amount of 0.0001 BTC needs to be sent for each additional address. Dividing deposited coins between 5 addresses is also very beneficial for maintaining user’s confidentiality. Every user is able to choose an additional option of delaying the payout meaning that the transaction is becoming even more anonymous.
Let’s represent another one of the best bitcoin mixers which is incredibly easy to use. Bitcoin Laundry (Bitcoin Laundry) has a user-friendly interface and it should be noted that the service fee is the lowest 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 delete all the logs which are saved 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 coin tumbler only.
Being one of the earliest crypto coin tumblers, BitBlender (BitBlender) continues to be a user-friendly and functional crypto coin tumbler. It is possible to have two accounts, with and without registration. The difference is that the one without registration is less manageable by a user.
The mixing process can be performed and the transaction fee is charged randomly from 1% to 3% which makes the transaction more anonymous. Also, if a user sends more than 10 BTC in a week, the mixing service reduces the fee by half. With a time-delay feature the transaction can be delayed up to 24 hours. A Bitcoin owner should worry security problems as there is a 2-factor authentication when a sender becomes an owner of a PGP key with password. However, this mixer does not have a Letter of Guarantee which makes it difficult to turn to this coin scrambler in case of scams.
And last but not least, there is a coin mixer with several cryptocurrencies to tumbler named SmartMixer (SmartMixer). For now, there are three currencies and Ethereum is going to be represented in future. This mixer offers a very simple user-interface, as well as the possibility to have control over all phases of the mixing process. A user can select a delay not just by hours, but by the minute which is incredibly useful. The mixer gives the opportunity to use a calculator to understand the amount of money a user finally receives. 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 many resources helps the crypto mixer to maintain user’s identity incognito. This last tumbler does not offer its users a Letter of Guarantee.
All cryptocurrency mixers introduced in the article are reported to be trustworthy having all transactions unidentified. It is important to pick a crypto tumbler wisely, as a sender has no opportunity to address any authority in case of scams. Of course, handling your deposits online can be unsafe, however, using scramblers that are introduced in the article will help every user to minimize risks and be sure of success of the transaction.