Bitcoin was designed as an anonymous and decentralized currency. But transactions are never truly anonymous, as they are recorded and available on the Blockchain — the distributed ledger which keeps a record of every Bitcoin transaction.
When you use Bitcoin to pay for goods and services, you need to provide your name and address to the seller for delivery purposes. This means that a third party can trace your transactions and find ID information. This is the reason why there are such services as Bitcoin mixer, for example, which allows you to exchange your Bitcoins for different ones which cannot be associated with the original owner.
Martin Albert, Bitalo Owner, explains to CoinTelegraph: “You cannot overcome the general principles of the Bitcoin network, that means in the end you can only make it very complicated to track individual coins, but still you can track every coin back to the block where the coin was mined.” Martin Albert, Bitalo Owner What is CryptoMixer?
One of these platforms is CryptoMixer and its spokesperson tells CoinTelegraph: “We do not track the source of funds’ services. The one who has signed the transaction is considered to be a valid owner of the coins. The thing we are responsible for is providing you with good and secured mixing algorithms and making your experience fast and reliable.” CryptoMixer is rather different from Bitmixer ; it has a mobile version of the website and an attractive affiliate program. It is also preparing to launch an Altcoin mixing feature.
The spokesperson says: “We are already on an internal test phase — it is what everybody was asking us to do and we did it, although I’m sure we’re not the only ones. Anyway, we believe it is always good for the market when there are several players. We think that […]
