When bitcoin for first introduced to the world a decade ago, everyone who knew the technology was excited. The reason behind this was because it offered a better alternative for money related transaction.
Just think about it, here is a type of money transaction that does not involve a third party. That means you do not need to worry about anyone else having control over your money. It is exciting knowing you could buy anything you want or pay anyone without being seen by prying eyes.
Since blockchain technology is built on high level security, everyone would want to have piece of the technology. No wonder, bitcoin grew so famous so first.
Bitcoin is the future
There is not denying the Bitcoin holds a really special place in the financial world. The fact that it is a world currency puts it in a better position as a mode of transaction.
Whereas other forms of currency are controlled by a central body, like a bank, Bitcoin does not require a third party. It is independent of any government policies. That means no country can lay claim to owning Bitcoin.
The world of cryptocurrency keeps growing with better currencies coming up after Bitcoin. But even with all great features of altcoins, none has managed to come close to bitcoin in terms of market capitalization.
Is bitcoin really anonymous?
Well, those who are new to the technology can easily assume bitcoin is anonymous. But the truth is, the real description of its status is pseudo-anonymous. This means it is not completely anonymous as anyone would thing.
This is to say, someone can still view your transactions and trace them to your real identity. There are inputs and outputs for a bitcoin transaction to be complete. Inputs receive transactions and outputs send the transaction.
All transactions are recorded to a public. Anyone can access a full blockchain (which is easy); they can track your transactions. This leaves you vulnerable to hackers and governments prying eyes.
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So if you thought you are completely protected when working with bitcoin, you better think twice. But there are many ways to restore anonymity. Among them is using Mixer Tumbler and similar services. They are called bitcoin tumblers.
Are they really helpful?
Bitcoin tumbling is a process of mixing your bitcoins with those of someone else so that no one knows where they came from. Bitcoin mixers take your coins and give you a similar amount from another account. The input account does not therefore have any link to the output account.
But then, since anyone can access a blockchain, they will easily tell that you have used a mixing service. That is, if there were a way to block you from accessing bitcoin services, they would.
Besides, the mixing service has full access to your information. They know what is happening in real time. That also poses a huge threat.
Conclusion
Bitcoin mixing can really help you stay anonymous. However, you need to ensure you have chosen the right company. Identify a company that does not for instance keep logs. Consider how much safety you are looking for.
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