THELOGICALINDIAN - One of the pillars of Bitcoins acceptance is additionally one of its bigger misconceptions and that is anonymity It is accurate that Bitcoin is added difficult to trace than added types of affairs but it is not absolutely bearding Because of this bitcoin users are continuously analytic for new and bigger means to anonymize their transactions
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Traditional bitcoin mixers and tumblers amalgamate your bitcoins forth with abounding added people’s bitcoins and the mixer’s own affluence as well. Then they accelerate the agnate of your aboriginal drop in addition else’s bitcoins to the BTC abode you specify.
The botheration with this adjustment is that because all of the affairs are bitcoin transactions, they are all recorded on the blockchain and are accordingly traceable. There is additionally an added accident that if the bitcoins you accept were acclimated for article illegal, that can, in theory, be traced aback to you as well.
ChipMixer is altered than any added bitcoin mixer that has appear afore it. Instead of artlessly accumulation your bitcoins with those of added users, they accept developed a chip-based arrangement that ensures a abundant greater amount of privacy. Here’s how it works:
When a user deposits bitcoin they accept the agnate in chips. Each dent has a pre-determined amount that is backed by Bitcoin addresses that accept already been set up and pre-funded by ChipMixer. There are chips account .001 BTC, .002 BTC, .004 BTC, etc… all the way up to 4.096 BTC.
If you were to drop 0.1 BTC, for example, you would accept three chips account 0.064, 0.032, and 0.004 BTC respectively. Since those chips were already pre-funded afore your deposit, there is no articulation amid them and your drop on the blockchain. That is the aboriginal footfall in accepting your privacy.
Once you accept accustomed your chips there are several things you can do that will added access your anonymity:
1. Split Your Chips
By agreeable a dent you actualize two chips anniversary with bisected the amount of the aboriginal chip. One 0.032 BTC dent would become two 0.016 BTC chips, for example. Any dent can be breach except for the everyman church which is 0.001 BTC.
2. Merge Your Chips
The adverse of splitting, amalgamation takes two chips of identical ethics and combines them into one dent with alert the amount of either aboriginal chip. For example, amalgamation two 0.032 BTC chips would aftereffect in one dent account 0.064 BTC. It is important to agenda that alone chips of identical amount can be alloyed in this way.
3. Bet Your Chips
Betting adds a absolutely accidental aspect to the bond action that helps conceal your bitcoins alike further. You can accept to bet a dent for bifold or nothing. That agency that either you win and you accept alert the chip’s aboriginal amount or you lose and you get nothing.
4. Donate Your Chips
Donating a dent transfers it to ChipMixer’s own account. Since they don’t booty any fees or commissions for the account they provide, the donations are consistently welcome. You can accord any dent bulk you accept except for those that are 1 bitcoin and higher. Using the antecedent drop archetype from above, you could accept to accord the aboriginal dent church you accept (which in this case would be 0.004 BTC) or breach it and accord as abundant as you want.
5. Withdraw Your Chips
The accomplished point of bond your bitcoins is to get them aback afresh so back you are accessible to withdraw, your chips are removed from your account and you are issued a clandestine key for anniversary dent with an abode absolute its amount in bitcoin.
Chip withdrawals are not arresting on the blockchain and back the chips are pre-funded they can generally arise to accept been created canicule afore your drop was made. This adds yet addition band of aloofness to your bitcoin transactions.
What do you anticipate of ChipMixer? How does it analyze to added bitcoin mixers? Let us apperceive in the comments below.
Images address of ChipMixer, AdobeStock
