Dealing with modern cryptocurrencies often comes at the cost of having little to no privacy at all. Even when using Bitcoin, there is no privacy or anonymity to speak of. That is, unless one is using third-party services to achieve this goal.
Bitcoin has Zero Real Privacy
In the media, Bitcoin is often mislabeled as being either private or anonymous. Neither of these labels can be attributed to the leading cryptocurrency. In the best scenario, Bitcoin users have pseudonymity, which is far from the same as privacy or anonymity.
Many enthusiasts see this as a missed opportunity. The current financial system forces users to give up any degree of privacy except for when they are using cash transactions. Following COVID-19, it seems likely that most businesses will try to step away from cash altogether. This will only fuel more demand for privacy-oriented solutions, yet it seems unlikely that Bitcoin will become the default option from that point of view.
Considering how privacy is a fundamental right of every human being, a solution needs to be found.
Bitcoin developers could work on enabling privacy by default on the protocol level. This would ensure every user can benefit from privacy at all times, without having to opt in. Unfortunately, it seems unlikely that something like this will happen over the next few years.
BitcoinMix is a Possible Solution
In the end, enthusiasts will likely have to keep looking elsewhere to achieve their privacy. One service that stands out in this regard is BitcoinMix. The platform provides Bitcoin tumbling service to ensure all user transactions have their “history” removed. For those who value privacy, and even a sliver of anonymity, such a service will be invaluable.
What makes this service appealing is how it doesn’t keep any transaction logs, nor does it keep a copy of conversations. Even requests sent through the contact form aren’t stored anywhere, adding an extra layer of privacy for Bitcoin enthusiasts.
Transactions are usually completed quickly, depending on the transaction fee one includes. The minimum fee can cause a minor delay in having a transfer processed. In terms of commission, BitcoinMix charges between 2% and 5%. It is a fair price to pay to achieve something that could have been built into Bitcoin’s protocol years ago.
Who is it For?
Anyone who values privacy may want to take a closer look at Bitcoin tumbling services such as BitcoinMix. While most users may not worry about having their identity linked to a Bitcoin wallet, there are many others who think this isn’t the best approach. Until native solutions are available, using a Bitcoin tumbler will always be the most logical option.
A tumbling service can also help users avoid being tracked by blockchain analytics tools. Several companies specialize in tracking all transactions on the Bitcoin blockchain around the clock. This further erodes the pseudonymity of Bitcoin, exposing users entirely. Using BitcoinMix or similar services will help avoid that fate.