Bitcoin mixer, also known as tumblers Bitcoin, is a service that mixes cryptocurrency tokens. The primary goal of the process is to obscure or cover the Bitcoin origin. The Bitcoin mixing service disconnects the link between the Bitcoin or the cryptocurrency token with the original Bitcoin wallet address. The mixing service charges a fee between 1% and 5% of the total amount mixed. Tumbling of Bitcoin to remove their past transactions is not illegal. Moreover, there are no clear laws that restrict such services. It is only designed to increase the privacy of the Bitcoin user.
The tumbling of Bitcoin operates with third-party software such as Coinomize, where users can send their coins or cryptocurrency tokens. The third-party software then mixes the coins and accordingly sends back the coins containing the same amount. The process disconnects the trail of the Bitcoin transaction. Once the coins are sent, the third-party software mixes the coins, which breaks the transaction trail. The previous coins will be replaced with a new coin with a different trail.
Privacy concern is a matter of importance. Covering one’s transaction trail is not just a concern for criminals. It is important for every tumblers bitcoin user. Advertising firms usually analyze the buying behavior of the person for advertising purposes. If a person does not cover its transaction tracks, such advertising firms and third parties will access information such as how much a person spends, where does he spend, and how much does he own. It is especially alarming when criminals gain access to such records. The only purpose of covering one’s transaction trail is to protect one’s privacy.
Cryptocurrency promises privacy and accuracy. However, there are loopholes where Bitcoin analysis tools and investigators can track the Bitcoin transaction to its original user or Bitcoin wallet address. Tumbling of Bitcoin services such as Coinomize have been launched to create a layer of protection between the user’s identity and their Bitcoin. Tumbling of Bitcoin, particularly Coinomize has been designed for mobile platforms. It has developed for the Android operating system and is soon to launch for the iOS feature.
Regardless of the strong promises, cryptocurrencies are not totally anonymous. Every user must make use of the available software to protect their trade history and solitude. Coinomize is the next generation Bitcoin tumbler support. It’s available for mobile use readily available for Android apparatus. It’s now working towards developing it for your own iOS operating system too.