This is a promoted article provided by MyCryptoMixer
If you bought 1 bitcoin (BTC) on March 17, 2020, when the COVID-19 pandemic was roiling financial markets, you would have more than doubled your money by late July, when the value of bitcoin soared past $10,000. Some other cryptocurrency assets such as ether (ETH) and ripple (XRP) have also enjoyed favorable price outlook in recent weeks. Stock markets have shot up as well, but their performance pales in comparison to the best performing crypto assets.
Ironically, even as cryptocurrencies gain a foothold in the financial market, their great investment volatility and an increasing mistrust from centralized institutions create a strong call from governments around the world and financial institutions to implement know-your-customer (KYC) and anti-money laundering (AML) compliances on cryptocurrency investments. Although such bureaucratic measures are implemented in the best interest of protecting users of cryptocurrency platforms, they could further infringe the users’ privacy by preventing anonymity in cryptocurrency-related transactions.
Anonymity (or privacy) may seem to be of paramount importance to hackers or individuals who are engaging in illicit activities, but it is actually a critical matter to undertake for any avid cryptocurrency users. With increased anonymity, users will not be limited by regulations hindering the use of cryptocurrency, and they will also be able to enhance and maintain their privacy in the hyperconnected world that we are in today.
Understanding The Bitcoin Mixer
By properly masking your crypto transactions, you can remove the traceability of your pseudonymous Bitcoin transactions and correlation to your online data privacy in the hyperconnected world that we are living in today. Making your Bitcoin transactions untraceable could better protect you with an added level of financial privacy, and the advancement in technology has offered better measures that could protect you right from the beginning, during your cryptocurrency purchase.
In recent years, an easy-to-use crypto privacy tool is gaining prominence among Bitcoin investors, wherein your pseudonymous Bitcoin transaction could be made untraceable and likely achieve complete anonymity from prying eyes.
This method is commonly known as bitcoin mixing, or otherwise known as bitcoin tumbling.
For starters, the bitcoin mixer is often referred to as an online coin mixing service that allows the user’s bitcoin funds to be obfuscated from the public and even blockchain analytics firms. Mixed bitcoin achieve anonymity by having these coins “mixed” with other coins in a mixing pool, and thereafter returned as an equivalent, but not the same set, of bitcoin back to the user. Such processes are known to “break the traces” and thus ensure full anonymity for those who mixed their bitcoin.
Here’s how to mix bitcoin securely and anonymously:
MyCryptoMixer’s rise in prominence is likely due to its…