One of the main problems with Bitcoin (BTC) transfers has always been privacy, and it has finally been solved.
For years, it was frustrating that a technology that provides autonomy and freedom from third parties doesn’t also provide privacy.
In fact, most Bitcoin users got into crypto because they thought their transfers would be fully private, which was just a misunderstanding.
Each Bitcoin transaction is recorded on the public blockchain, so anyone can follow the strings and find out the origin of a crypto transfer. At least, that’s how it was before Coinomize’s Bitcoin Mixer came into play.
Go fully private
Coinomize has an innovative algorithm that extends the remittance strings on the blockchain to make your financial activities untraceable.
The process is really easy to understand as you can mix your Bitcoins in just five simple steps:
- Step 1: Generate a deposit address.
- Step 2: Configure your destination address and the send time delay.
- Step 3: Send the Bitcoin to the mixer.
- Step 4: Process your mixed coins.
- Step 5: Enjoy your new untraceable Bitcoins.
All deposited cryptocurrencies are mixed within the selected time in a huge mix pool with thousands of transactions of other users so that it becomes almost impossible to assign the respective transactions to the previous owner.
Plus, as an additional layer of privacy, the platform deletes all user-related data within three days after the process. And if you don’t have that much patience, you are free to delete them manually sooner.
Fees and functions
Your mixing strength depends on the options you choose regarding the transfer delay and the service fee you are willing to pay.
- The transfer delay can be either immediate or within 72 hours. The more patience you have, the greater is the layer of privacy.
- The service fee is 1%–5% of your deposit.
The higher the fees and the longer the time delay, the higher the privacy, making transactions more difficult to find in the blockchain.
Coinomize is also the only Bitcoin tumbler with an anonymous mobile Android application and available in 11 languages.
What are Cryptocurrency mixers, and how do they work?
Since Bitcoin is only pseudo-anonymous, online services are increasingly used to further protect the privacy of BTC users. A crypto tumbler or mixer is a tool where coins can be deposited and mixed in a pool with the cryptocurrencies of other users.
Example:
User A and B each send 2 BTC to the mixer, and person C sends 0.5 BTC.
The coins from person C are now mixed with the coins from person A and B, and person C receives a small part of the BTC from person A and B back.
Thus, it is no longer possible to trace which person was the actual owner of the coins that person C received.
Get to know more
If you want to learn more about the technology behind the algorithm or about private Bitcoin transfers in general, check out Coinomize’s video guides and educational articles. The platform was made for both crypto experts and beginners.
Plus, you are free to check out its YouTube Channel or contact the team directly via Telegram.