Being able to tell the difference between what’s true and what isn’t, has probably never been as difficult as it is today. Luckily, when it comes to bitcoin mixers, we can clear some of that up.
Separating fact from fiction when it comes to bitcoin is hard. Trying it out with bitcoin mixers? That’s a whole new level of difficulty. Bitcoin and cryptocurrencies have definitely seen their share of less than favorable press. Following the massive spike in value in 2017, proceeded by a bearish downturn that took months to shake off- the media frenzy was nothing short of astonishing.
During this time, public adoption took hold, but so did stories of wide-spread criminal activity and the rumor that bitcoin would dissolve in less than a year. These were just a few of the erroneous highlights that the mainstream media pumped out, which despite their best efforts, seemed to have little effect deterring future investors.
Bitcoin Mixers: Why Your Government Hates Blenders
In fairness, it is rather simple to equate money laundering with bitcoin mixing. The two services actually strive for the same result- to obfuscate a personal connection with original funds. However, there is one glaring difference between the two actions: and that is essentially the means by which they exist.
When it comes to money laundering- criminals will begin the process with fake money, or money that was obtained through illicit activity. Now take a look at the average person that deals in fiat- they don’t need to launder their money, because fiat is generally anonymous and fungible. If you pull $100 from your bank account, it’s unlikely that you’ll be placed on a watch list, or that the $100 you just took from the ATM is going to be tracked back to you, either to keep an eye on your personal finances or to pull analytical data about your spending habits.
With bitcoin, the same is not true. The average person that deals in bitcoin is automatically subject to cryptographic and analytical identification. And not just by governments, but by anyone willing to look- compromising the anonymity and fungibility of everyday bitcoin and its users. So essentially, in order to enjoy the same financial freedoms that any fiat users has, you need to use a bitcoin tumbler.
An anonymous bitcoin user makes it much more difficult for governmental agencies to keep a firm thumb on the decentralized currency- which arguably poses some issues which could be poised as criminal- things like tax evasion. But realistically, most people don’t want to involve themselves in criminal activity and will report their bitcoin regardless- as the second they exchange it for fiat, it will have to be reported anyway.
No, Bitcoin Mixers Aren’t Just for Criminals
First most and definitely foremost- bitcoin mixers are not for criminals. We know that this is still a massive myth that’s being perpetuated, not solely by media sources- but also by governments. Instead, they’re designed to be used by anyone who wants to keep their finances personal and their identity out of the hands of big data. Which realistically makes them ideal for basically everyone.
Yes, You Can Use Bitcoin Mixers On the ClearWeb
There are a number of mixers available to users on the clear web, not just the TOR network. That being said, if you plan on using a clear web blender, you’re going to need to take a few extra precautions- such as considering the use of a VPN, or creating your wallet “off the grid” so to speak. This is because clean coins can only take you so far. If your freshly mixed coins become associated with your computer’s IP address or placed into a “dirty” wallet, you’ve essentially mixed for no good reason.
Yes, Many Reputable Entities Use Bitcoin Mixers and Tumblers
Many large corporations use bitcoin mixers regularly, for the same reason that the public does. They want to keep their finances private. This is even more important when considering companies that use bitcoin on their payroll- as it would be completely unethical for these types of corporate ledgers to be leaked into the public sphere. Realistically, by using a blender, these businesses are just exercising the same rights that businesses that work in fiat do.
No, They’re Not All Good
Not every bitcoin tumbler is a good one. Some are complete and total scams, while others just don’t work very well and are a waste of time and BTC. Some are only really effective for certain types of investors and their individual needs. That’s why it’s so important to do your homework when it comes to deciding which bitcoin blender is for you. There are a ton of decent ones out there, but things like minimum deposit, mixing pools, incentives, and output address volumes can change drastically from one service to another. So make sure that when you choose, you pay close attention to the T&C’s of whichever service you’re going for.
No, It’s Not Free
Bitcoin mixers of any degree of repute will not be free. There are a few reasons for this. One is that these services are not fully automated, so someone has to step in and take control of certain aspects of the service, which means they will also need to be paid. On top of needing to generate admin wages, most bitcoin tumblers will also use a small amount of their service fee to bolster their own mixing pool- which is in everyone’s interest. As the more varied the pool they pull from when mixing, the better and cleaner results you can expect with your output.
Yes, You’re Still Going to Need a New Wallet
You will absolutely need a clean wallet to deposit your cleaned coins into. If you put them back into a wallet address that already has a blockchain presence, you’re effectively undoing all the hard work you just paid for. As there isn’t really such a thing as a wallet cleaning service. If you use certain privacy wallets, specifically one that obscures your transacting address along with the blockchain, then you might be okay, but otherwise, keep your dirty wallet around as a transactional account. Never transact directly from hardware wallets- as they’re generally expensive and hard to replace.
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