Home Unique and Fast technology for Mixing your Cryptocurrencies, use YoMix.io – Reliable Bitcoin mixer

Unique and Fast technology for Mixing your Cryptocurrencies, use YoMix.io – Reliable Bitcoin mixer

maryam Cryptocurrency, Finance Writing Author expertise
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Cryptocurrencies have become extremely popular due to their anonymity. Especially actively began to use Bitcoin, as it is convenient and confidential. However, there are already problems with privacy. Bitcoin is already easily tracked by transaction. Therefore, the YoMix.io Bitcoin mixer was created. In the article we will understand what it is and why you should use it.

Is there anonymity in the Bitcoin blockchain?

The Bitcoin blockchain has positioned itself as a completely anonymous crypto network. Initially, it really was. However, some enthusiasts decided to use a public ledger with records of all transactions. As it turned out, the owner can be calculated from them. At first it was quite difficult to do. Now special programs have been created that automatically deanonize transactions.

As a result, the anonymity that attracted everyone so much has gone into oblivion. Due to the fact that the tokens have a unique identification number, tracking has become quite simple.

Deanonization began with the emergence of cryptocurrency trading platforms. If it is still possible to carry out transactions relatively anonymously on exchangers and P2P sites, it is not on crypto exchanges. This is due to the law on money laundering and sponsoring of terrorism, which is in all developed countries. It requires KYC procedures to be carried out on the sites. It involves performing a verification procedure. Within its framework, users must provide their personal data, confirming them with relevant documents.

As a result, the circuit becomes absolutely simple:

  1. The user has a cryptocurrency.
  2. Decides to sell it on the stock exchange.
  3. Registers and deanonymizes himself.

If necessary, these personal data are easily disclosed. At the same time, if the user refuses to pass verification, then strict restrictions on the withdrawal of funds are imposed on his account. Therefore, he has no choice.

With exchangers and P2P sites, the situation is somewhat better. It is enough to provide an email address here. However, most users use bank cards for the operation, which are linked to the individual. Therefore, it is also possible to find out who bought the coins.

Why is it dangerous to reveal your anonymity?

Bitcoin is quite expensive. At the time of writing, it costs around $30,000. Therefore, many hackers and attackers are hunting for accounts that have coins on crypto wallets.

Deanonization allows them to gain access to your funds. How does this happen?

According to the transaction chain, the attacker sees what amounts were transferred. He starts following him. If he notices that the operations are repeated, he begins to hunt for access to it.

As a rule, many seed phrases are stored on a PC. With tracking, the attacker learns the IP address. It determines where the account is still registered and finds access. He can also throw a virus on the PC. Having learned the mnemonic phrase, he gets access to the crypto wallet and can withdraw coins from them.

How to maintain your anonymity?

You have probably already understood that anonymity on the network is the key to your security. There are ways how you can keep your anonymity in the crypto network completely. However, they must be used constantly. This is the only way your confidential data will not be stolen.

How to do it?

  1. Use a virtual machine where to place the main crypto wallet.
  2. Use a VPN to work with the wallet on the Internet.
  3. Involve several additional crypto wallets.
  4. Use Reliable Bitcoin mixer.
  5. Conduct transactions through exchangers or P2P sites.

We will dwell on each point in detail so that you can understand the scheme.

Virtual machine
Each PC or device has its own unique Internet identification – MAC-address. If you wish, you can find it out, which will immediately reveal your data and can give access to the intruder’s device.

Therefore, it is worth using a virtual machine. Even though it runs on the device, it is completely offline. At the same time, it registers on the network as a separate PC. Thanks to this, you will hide your device.

Using a VPN

VPN changes the real IP address to a completely different one. In this case, another region or even a country is involved. The main thing is that the VPN service carefully encrypts all the data that passes through it.

Therefore, it is important to choose a reliable VPN. Free services are not able to provide services at the same level as paid ones. The latter have more comprehensive security and privacy features.

Using multiple crypto addresses

However, they must be disposable. They need to be constantly created for the operation. This item should be combined with the next one.

The bottom line is to cut off the connection of your permanent crypto wallet with ongoing operations. That way you can hide it.

How to do it? Make a transfer to a new crypto wallet in small amounts. At the same time, pass the transaction through a reliable Bitcoin mixer. So you break the chain of operation, and the attacker will not be able to track them.

However, we recommend that you spend small amounts. There are a lot of such operations in the crypto network per day. Therefore, they will not arouse interest among attackers.

Bitcoin mixers

They mean special services that mix digital coins. The bottom line is that the user sends his tokens, but receives completely different ones to the specified crypto wallet.

How it works?

  1. You send amount A, another user sends amount B, and a third one sends amount C.
  2. They mix with each other. As a result, the first user receives coins B and C, the second – A and C, and the third – A and B.

In this case, the amounts are distributed according to the number of coins sent. The service itself charges a fee for this.

However, there are certain nuances here. From the example, it can be understood that if the amount A exceeds 50% of the total, then there is a risk of getting your own coins. Then it becomes possible to trace the transaction, since the chain does not break completely.

Therefore, it is best to choose services that have their own reserves in a significant amount. Then the mixing will be more successful and correct.

It is also worth considering additional functionality. A good Bitcoin mixing service provides the following:

  1. Postponement of transactions from one to three days. Due to this, the number of transactions similar in amount becomes large and it will be difficult to track down your specific one.
  2. Use up to 5 crypto addresses. Moreover, they can be used both for replenishment of the account and for withdrawal. In other words. You can carry out an operation from five wallets and immediately withdraw tokens to 5 other addresses.
  3. Changing the size of the commission. You can set it to a certain range. Due to this, it is unrealistic to calculate that the operation was carried out through a mixer.
  4. The distribution of the amount of coins into several parts, which will be sent at different times. It also allows you to hide the completed transaction.

At the same time, it is important that the service constantly uses different crypto wallets. Otherwise, such mixers are easily calculated, and therefore lose their relevance and safety.

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Maryam Cryptocurrency, Finance Writing

Maryam Cryptocurrency, Finance Writing

Maryam Jinadu is a freelance crypto & fintech writer. After completing her pharmacy degree at the University of Lagos, Nigeria, in 2018, she began writing professionally in fintech. She has worked with top fintech/crypto companies such as Bit.com, Equalizer, Koinly, Olymp Trade, Salesgnomics, Scribbr, and Swapzone. She currently freelances on Upwork and writes weekly reviews at 18digits.com. Maryam lives in Manchester, United Kingdom and can be found on LinkedIn @Maryam Jinadu.