Bitcoin and other cryptocurrencies have transformed the execution of transactions. But even more specifically, bitcoin has proven to be an excellent coin and has several benefits. With its use, you can retain your anonymity, enjoy low transaction fees , and faster confirmation of the transactions. Besides, you do not need to trust any person or institution.
However, these benefits of the bitcoin can have a big challenge because those with access to the full blockchain can see your transaction history and those of others. And the people can deduce the owner of an arbitrary address based on the information they get and other external information. This is where the mixing of bitcoins becomes necessary, and this needs the use of mixers.You can checkout the the best bitcoin tumbler 2021.
Here are some of the reasons why people mix bitcoins:
To Secure Your Bitcoins
Since blockchain works with a ledger that is public and notifies everyone when a transaction is made which makes them unsafe. A bitcoin mixer makes the transactions anonymous, increasing their security. In an open network, someone can know the number of coins in your wallet and trace where the coins came from. To avoid this, you can mix the bitcoins and keep them in a different wallet, which makes you anonymous in the network.
To Avoid Hacks
Wallets and exchanges can be hacked. This makes it necessary to use a bitcoin tumbler. With this, you can move the bitcoins from the usual wallet to another one after mixing. It will be difficult for hackers to follow the movement of their assets. There can be malicious threats like clapperboard attacks and dusting therefore, it is necessary to be low profile and avoid being a target to hackers.
Makes You Prepared for Unfavorable Regulations
Cryptocurrency regulation is not certain, which makes it unclear the direction which governments will take in the future. Most countries are still attempting to understand it to come up with relevant laws. The major problem has been the decentralized feature, making some governments attempt to restrict its use or ban it. In case a country bans bitcoins, one stands a chance to lose his balance. The best way out is to mix your coins, which hides the volume of coins you have and your identity.
Blockchain analysis companies can easily follow up on the identity of owners of different wallets and the transactions they made. With such information, it is easy for someone to know the number of bitcoins you have. When the information gets into the hands of criminals, they can take advantage of you. It is a good idea to engage a mixing service that protects your identity when transacting with an exchange. This helps in hiding the total amount of bitcoins and transaction history.