Bitcoin tumbling, bitcoin mixer and bitcoin laundering, it’s all the same. Basically, it’s a way that people can make their transactions anonymous. Bitcoins are unregulated digital currencies, and while bitcoin’s alphanumeric addresses seem to hide anyone’s identity it’s not really the case. The grey area on this is the public ledger called blockchain where all transactions pass through.
The transactions might be anonymous now and not all people have the capability to crack it but it’s only a matter of time and if it does it’s a gold mine. It’s undeniable that the government has already the capabilities to do it but it doesn’t matter whether it’s just the government because the facts is, it can be tapped and this sort of anonymous address that you have can be traced back to you. This only proves that any private individual that has the motives, the right people and capabilities will be able to do it as well.
Who are the people that uses Bitcoin tumbling: Sure you would think, “who cares?” Well… you should. Think about it, do you want people to tap into your financial details? Certainly not. And for people that have the motive and capabilities to do so, they will be able to. There are people that use a bitcoin tumbler and they are:
- People that want their tainted coins untainted
- people that got their bitcoin through gambling
- people that want to hide their tainted bitcoins
- wants their transactions to remain anonymous
- people that are very sensitive to their privacy
Bitcoin is actually “pseudo-anonymous”: Bitcoin might be unregulated but it’s not anonymous, it’s “pseudo-anonymous” and with its nature to be unregulated makes it prone to abuse. There aren’t a lot of companies that are able to decipher the blockchain domain but if they do, if they figured out how to do it, you can expect that there will be an upset in the whole crypto community and when that happens you don’t want to be in a place where you are very vulnerable.
The best bitcoin tumbling service today: There are a lot of bitcoin tumbling platforms today but there are only a few that are very popular. These bitcoin tumbling services mentioned below are very popular and are used by various people or companies to render their bitcoin untraceable and anonymous.
- Grams Helix
- BTC Blender
- Bitcoin Blender
- Bitcoin Fog
Bitcoin tumbling is a term used in mixing bitcoin with other coins thru a 3rd party provider for the intention of keeping bitcoins anonymous. It aims to end the paper trail that is found in blockchain and safeguard the sender’s identity. Since blockchain is a public ledger you can’t really expect that it can protect anyone in the future. With the right people, tools, and motivation any person or company will be able to break it and given that bitcoin is unregulated makes it prone to that. There are a ton of bitcoin tumbling services online but only a very few are at the top of the list. If you want to see a full review of these sites, check out cryptalker.com for more details.