Real cryptocurrency anonymization is difficult to achieve, especially as new companies providing very advanced forensics analysis tools for blockchains are started. One of these startups is Chainalysis. They specialize in bitcoin forensics and work hand in hand with the IRS to trace the links between cryptocurrency wallets and their owners’ identity.
To prevent this, BestMixer.io, in its bid to become the top bitcoin blender, has introduced a strong new level of anonymization by creating their Alpha, Beta, and Gamma reserves from which users can select crypto coins to mix. BestMixer uses these reserves to defy analysis with advanced forensics tools for blockchains and guarantees the total anonymity of the mixed cryptocurrencies.
Users often think that cryptocurrency wallets, tokens, and transactions are anonymous, as crypto wallets don’t have a name attached to them. This is however not true because every time digital currencies are used in a transaction, traces are left behind. Various pieces of information, including the wallet address, can be determined from these traces. This is what companies like Chainalysis specialize in.
A BestMixer.io spokesperson explained that when crypto transactions are done, the wallet’s balance, as well as its address, the crypto’s origin and even the address of the target wallet could be tracked. As details of the individual’s private life are thus revealed, they could become a target for cybercriminals.
Top bitcoin blender has revealed three reserve pools
Chainalysis collaborates with the American IRS and uses blockchain forensics to analyze crypto transaction data. This helps them establish where the crypto used in the transaction originated. To achieve its stated goal of becoming the top bitcoin blender, BestMixer has revealed a number of reserve pools that aim to preserve the digital privacy rights of digital currency users.
The Alpha, Beta, or Gamma pools are user selectable reserves used to mix coins. While crypto in the Alpha and Beta reserves mainly comes from users and are simply mixed and redistributed, the Gamma reserve contains only crypto from BestMixer’s private reserves that has been verified and is reliable. These reserves have never been mixed with coins from the other pools. Although using coins from any of the pools to mix produces clean, untraceable bitcoin, only the coins from the Gamma pool can’t be tracked by using advanced blockchain forensics.
The coins in the Gamma pool are increased by coins from investors. These coins have never been mixed with tokens in the Alpha pool, nor are they related in any way to those coins. Users that want to sever the link between their new and old addresses, but also want to be sure that their coin source is reliable will find the Gamma pool suitable for meeting their requirements.
BestMixer has two additional elements in their favor when vying to become the top bitcoin blender. The first is their low fees, which start at 1% when using the Alpha pool and is reduced to 0.5% when the service's cumulative code is used. The second element is the big range of coins they are able to mix. This includes Ethereum, Bitcoin cash, Bitcoin, Litecoin and Bitcoin SV.
To make their service easier to use, BestMixer has released a video tutorial that guides users how to mix bitcoins and use the site in an intuitive, logical way.
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