Well, many people refer bitcoins to as an anonymous currency when in fact BITCOINS is not an ANONYMOUS CURRENCY. Every transaction is recorded properly in a bitcoin ledger called BLOCKCHAIN. All the transactions can be traced back to the digital wallets that send and receive the bitcoins. If you are sending bitcoins from your crypto wallet, you can surely be traced back through the blockchain.
Though, you cannot be traced if you haven’t provided your original details while creating your wallet. Still, this does not make you anonymous but it will definitely make it difficult for the authorities while looking for you. In order to make yourself completely anonymous, you will have to cover your tracks by using a wallet that can not get associated with you. To create such a wallet with this level of anonymity you will have to mix the bitcoins before they get into your wallet.
There are multiple reasons why people need to mix bitcoins
1. In order to make anonymous purchases like an anonymous VPN or ordering something from the deep web. So that no one gets to know who you are.
2. Hiding the money that was earned from corruption or something like hiding your black money from the government. So that your assets don’t get disclosed.
3. In order to make anonymous donations or charity to someone in need.
4. If you have the tainted bitcoins, you can mix them and they will be usable again.
5. In order to hide your current net worth from the govt or the public.
The process of mixing bitcoins is also known as BITCOIN TUMBLING. This is a process in which a third-party is used to break the connection between the source and the destination. There are plenty of online services that provide you with the facility of mixing bitcoins.
HOW MIXING BITCOINS is done?
In order to do so, You will need the following
1. The TOR Browser (to get anonymity from the ISP)
2. A BITCOIN WALLET (with the bitcoins you want to mix)
3. An ENCRYPTED NOTEPAD ( to write the ADDRESSES, Ids, and other information)
Once you are done with the above-mentioned stuff, open up the TOR browser and create a wallet using BLOCKCHAIN.INFO. Try using the same link because it won’t redirect you to any other page outside the TOR and it only requires an EMAIL ADDRESS.
Get a temporary email address/email burner. There are plenty of websites that provide temporary emails. Once you have created the disposable email. Open the Tor browser again and get to the BLOCKCHAIN.INFO onion site, click on the wallet and SIGN UP. Once you sign up, you will be taken to the dashboard of your new anonymous wallet(WHICH IS NOT ASSOCIATED WITH YOU)
Open the inbox of your disposable EMAIL and verify your wallet by clicking the verification link that is in your inbox.
SAVE THE INTERMEDIARY WALLET ADDRESS AND WALLET ID IN THE ENCRYPTED NOTEPAD.
NOTE: NEVER ACCESS YOUR INTERMEDIARY WALLET WITHOUT THE TOR.
Once we have successfully created the wallet, we are almost very close to the mix of bitcoins. Now you have to send the bitcoins to your newly created(INTERMEDIARY) wallet from your main wallet.
After sending the money to the intermediary wallet, there is almost one step left.
Create a new wallet using the same method(which we used to create an intermediary wallet) but with a different email and password and transfer the funds to that final wallet.
In order to increase anonymity, you can create multiple addresses within your wallet. To create multiple addresses Log into your final wallet, Go to dashboards, SETTINGS > ADDRESSES. Click on MANAGE and then click ADD NEXT ADDRESS. This allows you to create up to 5 different addresses.
This is the most important part of all the above. There are plenty of providers who mix bitcoins for 2.5% – 5% of the total amount. They are basically called the THIRD-PARTY services. For these services, you can visit BITCOIN MIXING SERVICES. 2.5% is the charge fee but here only $5000 is mixed at once.
The procedure is quite easy and time-saving. You just have to select the number of bitcoins you want to mix and then select the time period and there you go.
There are many other people who are providing bitcoins mixing services. Few of them just take your money and run away while others charge a high fee.
Make sure when you avail of any such service from the market, you do your own research as well 🙂