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Protecting our privacies, and keeping our Bitcoin transactions and wallets private is a highly desired feature.
Bitcoin is by default not anonymous. Did you know that every transaction on the Bitcoin network is broadcasted to a public ledger. And this ledger visible for anyone to inspect and also trace.
If you know the wallet address of someone you can then easily trace all their previous transactions and find out who they are transacting with. You could potentially even find their exchange wallet addresses.
This is of serious concerns for people that demand privacy and that wants to both transact confidently, but also keep their BTC wallets hidden from others.
Is it possible to protect your privacy and make your BTC transactions private?
Yes, through a Bitcoin mixer service this is possible. And one of the popular alternatives on the market for this is bitmix.biz.
To shed some light on how this exactly work, and to answer common concerns that newcomers might have, is Bitmix.biz legit? And is it safe to use? I decided to try this service out.
What BitMix.Biz and other mixer services do is perhaps not too hard to guess if you go by the name. They mix your coins together with other coins and send you back ‘clean’ coins. That have no previous trace back to you.
Basically a BTC mixer service is a cleaning service, used to remove any traces from your Bitcoins back to you.
Are they legal you might ask? Because it sound a lot like money laundering. Without being able to speak for every country’s view and regulations affecting Bitcoin mixers, they are yet legal in the US and in many other countries.
But we know that they’ve been under the focus from legal discussions, with talks about banning them in the US (read more). But nothing has yet come of those discussions.
This is how BitMix.Biz work
So you would send your Bitcoins (or another cryptocurrency) to a given address by the mixing service. And then they would do their part, and later on you would receive back your coins ‘cleaned’, less the fees.
You need to provide the mixing service with a fresh BTC address, that has no trace back to you for this to work of course.
But that is the overall process of how it works.
Is it foolproof? I am not a analyst, nor experienced enough in tracing data and transactions to make that call. If enough resources and time maybe even the best of mixing services would fall short.
But yes, mixing services work and they can make what is otherwise public data and transactions private.
You can also use the private Tor browser that makes your entire browser sessions impossible to trace in combination with a mixing service. This will further help to protect your privacy online.
If you are concerned about what data and information they store about you, then you can rest assure that all logs from you using the service is deleted within 72 hours.
Step by step guide to using BitMix.Biz
Now I am going to walk you through the service of BitMiz.Biz step by step, I will send some of my own BTC coins to illustrate how it works. And so that you can see for yourself it is safe to use and legit.
The overall process how BitMix.Bix works is:
- Fill out the form
- Send your BTCs to the given address
- Receive back new and clean BTCs
First, you go to its website https://bitmix.biz/ and click on the cryptocurrency you want to mix. They have Bitcoin, Litecoin and Dash. I will use Bitcoin in this example.
After that you will see form to fill out.
Here you can/need to enter information such as a destination address (must), which is where you want your coins sent to after they’ve got mixed.
- You can add several destination address if you want
And then you can enter a unique code, this is if you’ve used this service before. This way BitMix.Biz can make sure you don’t receive coins that you sent in the past.
You need to then set a delay. This is after how long your coins will sent to you, after they’ve been mixed. It is recommended to go above 1h at least.
Preferably longer than so to maximise your privacy potential.
And then you can also set the service fee used. Between 0.4% and 4%. BitMix.Biz says you get ‘cleaner’ coins the higher fee you set.
Depending on your inputs (delay + service fee) you will see a rating of how private your coins will get. It goes from a red average up to a green ‘best’ rating.
- If you are unsure what to put in and you want maximum privacy I recommend you click on Auto adjust button and let BitMix sort it out for you.
When you are ready you click on start mixing
Then you will see a complete receipt of your order form, based on what you entered in the last page.
To complete the mixing part from your side you need to send your BTCs to the address provided by BitMix.Biz.
To complete this order you will have 2 days and 23 hours to complete the transaction. Otherwise, your order will fail.
If you entered some information wrong here, then you can cancel your order and start again.
This is how the order form looks like when you’ve started the mixing service.
If you want to use this mixer service again then I recommend that you save the Code given to you. Copy and save that somewhere safe. You can also screenshot this page if you like.
You can also keep this page up after your sent your BTCs, as it will show when the incoming transfers has been detected.
Wait for your clean BTC to arrive. This is the last and final step on how to use BitMix.biz.
Depending on the delay you set in the first step, this is how long it will take for your to receive your new BTCs.
If you don’t trust this service yet, then you can request to get a letter of guarantee.
Find more information about it and how it works here in the FAQ section.
Why should I use a BTC mixer service?
Why would I ever use a mixing service? Isn’t it just something that criminals engage in? Yes I can speculate that such a service would attract people that are trying to hide from the law. But is that the only use case? No I bet it’s not.
As I said earlier all BTC transactions are stored on this public ledger, and that is permanent. If I knew your wallet address I could with the help of a block explorer trace all your previous transactions.
Now, why would that be a problem? For some it’s not, but for others it is. And not for any illegal reasons, but for reasons such as:
- They want to protect their privacy, and not have their data and information shared with others
- They want to maintain their holdings private. And not flash their BTC portfolio to the world
- They want to keep their wallets secret. To avoid hackers and thieves to trace their wallets and holdings
Those are some of the reasons for why ordinary, non-criminals would prefer that their transactions and holdings were kept private.
I mean would you like someone to have access to view your bank account details. How much money you store there? Who you send money to, etc?
Probably not, so why would you want that when it comes to Bitcoin and other cryptocurrencies?
Conclusion – should I use BitMix.biz?
Now, I don’t know your reasons for wanting to use a cryptocurrency mixer service.
But if we are hypothetically speaking about cleaning your BTCs, or other cryptocurrencies for legal reasons then I think BitMiz.biz offers a service that is easy to use and straightforward enough.
I found it to be easy to use, and my transaction came through to my destination address after my desired delay time.
Can I promise that BitMix.biz will work forever? No, of course I can’t. But it did deliver this time for me. As always if you are unsure try sending smaller sums instead of one big transaction.
Another thing that I wasn’t sure of when using this mixing service is what the difference was between average – high – best ratings?
I think they could make that part clearer. And I guess it depends on your need for 100% privacy, or if you could sacrifice lesser privacy for smaller fees?
The smallest fee possible is 0.4% which seems fairly good.
You can use the BitMix.Biz in ten different languages. At the same time, API keys are available so that it can be embedded on your website for your customers.
There is also an affiliate program that allows everyone who wants to receive additional income from referring other users to this service.
For more information about Bitmix.Biz visit:
TOR (Recommended): http://bitmixbizymuphkc.onion
Find other guides
- What is 2FA?
- Crypto volatility explained
- Best open source crypto wallets
- Dollar Cost Averaging explained
Hello and welcome to Go Cryptowise.
My name is Per Englund and I’m a long-term fan and investor of Bitcoin and other cryptocurrencies. I’ve been around the space for a good few years, learning how it all works and to be a part of this engaging community.
Now it’s time for me to share my experience with others. I am also a business and product developer so I know first-hand what it takes to create a successful product, brand and customer experience.
And I am bringing this vision to my writing and how Go CryptoWise work.
Connect with me on LinkedIn. Ask me anything on here.
Get in touch with me to find out more about Go CryptoWise and what we care about.
Binance to cease these crypto-derivative offerings in Australia
Once upon a time, regulators around the world weren’t confident about handling the crypto-ecosystem. This attitude, however, has changed of late thanks to the industry’s growth and the interest it has seen from traditional institutions and major investors.
The aforementioned change isn’t universal, alas, with some crypto-entities still coming under a lot of regulatory fire. Binance is a case in point. The platform has come under increased scrutiny from a growing number of regulators worldwide, including regulatory authorities from the U.K, the U.S, the Netherlands, and Canada.
Australia too has now been added to this ignominious list.
Binance will cease offering the following products to existing Australian users: Futures, Options,Leveraged Tokens. https://t.co/I7JOJDeWfR
— Wu Blockchain (@WuBlockchain) September 21, 2021
“As Binance constantly evaluates its product and service offerings to comply with local regulations, we will cease offering the following products to existing Australian users: Futures, Options, Leveraged Tokens”
Moreover, it revealed that ‘existing Australian users will have 90 days to reduce and close their positions for these products.’ Post 23 December, users will no longer be able to manually reduce their positions, and all remaining open positions will cease.
What does this mean for Binance and its executives?
Well, the aforementioned step is in alignment with its executives’ aim – To create a sustainable ecosystem around blockchain technology and digital assets. In fact, according to one of its executives,
“Binance welcomes developments to our industry’s regulatory framework as they pose opportunities for the market players to have greater collaboration with the regulators. We are committed to working constructively in policy-making that seeks to benefit every user.”
And the “nightmare” continues…
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Robinhood Testing New Cryptocurrency Wallet as Demand Rises
The millennial-focused trading portal is edging closer to launching a long-awaited app that will enable its growing user-base to send and receive cryptocurrencies.
A beta version of Robinhood’s iPhone app showed the company’s latest upgrades on the new digital asset features, according to Bloomberg.
There is a hidden image showing a waiting list for users eager to get their hands on the app and code referring to crypto transfers, it added.
Delving Deeper into Crypto
Robinhood users can already buy and sell cryptocurrencies on the platform but they need to convert them to and from USD. With a native app, users will be able to send crypto assets to each other directly and set up two-factor authentication for additional security.
Robinhood Chief Executive Officer Vlad Tenev stated that adding crypto wallets is a priority for the company’s developers and they are actively working on such.
“The ability to deposit and withdraw cryptocurrencies is tricky to do with scale, and we want to make sure it’s done correctly and properly.”
He did not specify a launch date, but the beta app leak suggests it is not too far away. Users of the new functions will need to activate crypto sending and receiving and the registration page will require an identity check, the report added.
On Sept. 11, CryptoPotato reported that Robinhood had launched incentives to promote longer-term cryptocurrency investing. The zero-fee recurring purchase feature enables users to schedule digital asset purchases for regular intervals with buys as low as a dollar.
This will encourage customers to build their cryptocurrency portfolios over time and “become a whole coiner,” stated Robinhood.
Robinhood Users Hungry For Crypto
Cryptocurrency trading has been one of the biggest drivers of revenue for Robinhood this year. Dogecoin has been the crown jewel, according to the company. It reported that 62% of its $233 million in second-quarter crypto income came from DOGE trading.
It added that more than half of all transaction-based revenue on the platform came from digital asset trading. The firm did warn that Q3 would not be as prosperous due to “seasonal headwinds and lower trading activity across the industry.”
Robinhood share prices have already fallen 43% since their all-time high of a little over $70 in early August. They are currently trading down 1.68% since Monday’s open at $40.70 according to Yahoo! Finance.
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Snoop Dogg Reveals His Connection With Twitter Account on NFTs
Rate this post American rapper Snoop Dogg tweeted on Monday that he’s the owner of a Twitter account that talks about nonfungible tokens (NFTs). The account, named @CozomoMedici, shares “insights and tales from the wild world of NFTs” and has 27.7K followers at the moment. Snoop Dog Claims to Be Popular NFT Advocate on Twitter Snoop Dogg left the crypto community stunned this week after he revealed himself as the owner of a Twitter account dedicated to NFTs. The account Cozomo de’ Medici, named after an Italian banker, is only a month old. However, it has already garnered attention from industry watchers and even a mention from crypto-focused news outlet The Block. According to The Verge, the person behind the Medici account had been creating hype around their real identity for “at least a few days” and even conducted a poll for their followers to take a guess. The poll featured Democratic congresswoman Alexandria Ocasio-Cortez and Matt Bellamy, the lead singer of the rock band Muse. Snoop, however, was not mentioned in the poll. On September 20, @CozomoMedici tweeted that they were about to reveal their identity from their account. Shortly after, Snoop Dogg tweeted “I am @CozomoMedici.” Interestingly, after making this revelation, the Medici account bought two weed-themed collectibles from an artist named NyanDogg, The Verge reported. Additionally, Snoop’s alleged OpenSea account has been sent “a cloud of blunt and Snoop-themed NFTs” following the reveal. Is Medici Account an Elaborate Prank? The Medici account could likely turn out to be an elaborate prank, one that Snoop might have engineered himself or just participated in. Many reactions to Medici’s reveal have also expressed skepticism about Snoop’s involvement. “I have a hard time accepting that this account is Snoop Dogg. Like seriously Snoop Dogg muted his live stream for a week (?) by accident. And he is that deep into NFTs out here owning crypto punks… Owning Eth using OpenSea. Would love that to be true but I can’t believe it,” Twitter user @Brandolf485 wrote in the comments. Nonetheless, the crypto community will have to continue looking for concrete proof till Snoop’s involvement with the account is confirmed.
The post Snoop Dogg Reveals His Connection With Twitter Account on NFTs appeared first on Cryptoknowmics-Crypto News and Media Platform.
American rapper Snoop Dogg tweeted on Monday that he’s the owner of a Twitter account that talks about nonfungible tokens (NFTs). The account, named @CozomoMedici, shares “insights and tales from the wild world of NFTs” and has 27.7K followers at the moment.
Snoop Dog Claims to Be Popular NFT Advocate on Twitter
Snoop Dogg left the crypto community stunned this week after he revealed himself as the owner of a Twitter account dedicated to NFTs.
The account Cozomo de’ Medici, named after an Italian banker, is only a month old. However, it has already garnered attention from industry watchers and even a mention from crypto-focused news outlet The Block.
According to The Verge, the person behind the Medici account had been creating hype around their real identity for “at least a few days” and even conducted a poll for their followers to take a guess. The poll featured Democratic congresswoman Alexandria Ocasio-Cortez and Matt Bellamy, the lead singer of the rock band Muse. Snoop, however, was not mentioned in the poll.
On September 20, @CozomoMedici tweeted that they were about to reveal their identity from their account. Shortly after, Snoop Dogg tweeted “I am @CozomoMedici.”
Interestingly, after making this revelation, the Medici account bought two weed-themed collectibles from an artist named NyanDogg, The Verge reported. Additionally, Snoop’s alleged OpenSea account has been sent “a cloud of blunt and Snoop-themed NFTs” following the reveal.
Is Medici Account an Elaborate Prank?
The Medici account could likely turn out to be an elaborate prank, one that Snoop might have engineered himself or just participated in. Many reactions to Medici’s reveal have also expressed skepticism about Snoop’s involvement.
“I have a hard time accepting that this account is Snoop Dogg. Like seriously Snoop Dogg muted his live stream for a week (?) by accident. And he is that deep into NFTs out here owning crypto punks… Owning Eth using OpenSea. Would love that to be true but I can’t believe it,” Twitter user @Brandolf485 wrote in the comments.
Nonetheless, the crypto community will have to continue looking for concrete proof till Snoop’s involvement with the account is confirmed.
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