Bitcoin Mixing Service – Innovative way for Secured Online Payments

1. Bitcoin Mixing Service – Innovative way for Secured Online Payments There are certain transactions and online payments that people would rather make anonymously in order to keep their privacy and avoid scrutiny. With a Bitcoin mixing service, this is a possibility. It is a common misconception that Bitcoin transactions are instantly anonymous. However, Bitcoin payments, by themselves, are never completely anonymous as every activity you make with Bitcoins are recorded in a public database and are made available to the public through a blockchain. This makes it easy for an observer to track down transactions and pinpoint their sources. This is why you need a Bitcoin mixing service to help make it impossible or at least extremely difficult to trace your bitcoin transactions back to you. Bitcoin mixing services, which are also known as tumbling services work by mixing your funds with other people’s, hence confusing the trail leading back to the original source. This is much like moving your funds through banks situated in countries or jurisdictions that have strict laws on bank secrecy, only you are mixing Bitcoins instead of traditional currencies. In Bitcoin tumbling, you send your funds to an anonymous Bitcoin mixing service, which then combines your funds with their coin reserve. The larger the coin reserve of the service you choose, the harder it will be to pinpoint both the source and the endpoint of each, as your transactions will be combined with countless other activities that the service have handled in the past. As a result, any third party who wishes or tries to track down your activity must face the virtually impossible task of sorting through thousands and even millions of Bitcoin transactions, each leading to even more Bitcoin accounts, making it extremely difficult and impossible to trace the activity back to you. Used correctly, Bitcoin can provide users with acceptable levels of anonymity and privacy, although seasoned users and service providers stress that it is an individual’s responsibility to adopt and maintain good practices in using the currency in order to protect their privacy. A Bitcoin mixing serviceeffectively mixes traceability between users. This said, it is critical to remember that the legality of these services do vary and can be subject to different rules, based on your jurisdiction. Because these services require you to put your trust on the individuals running the network, it is important to choose a service that you can have full confidence in when it comes to keeping your funds safe and untraceable, such as GhostMixer—your partner in keeping your Bitcoin transactions anonymous.