Privacy is important and no one should convince you otherwise. In this era of enhanced technology and convenience shopping, however, keeping personal information, personal, is almost impossible. Undertaking anonymous purchases online, as such, brings you a step closer to enhancing your privacy and protecting yourself from fraudsters.
Anonymous purchase refers to the ability to buy goods or services without leaving much of a traceable footprint. Convenience shopping, however, makes anonymous shopping a mirage since you have to provide information such as your home address, especially because many of these vendors need the information to make doorstep deliveries.
The flipside of this convenience is that the information you share can open a whole new window into your transactions. Also, it can make you vulnerable to fraud. Any trader can use the information you provide to dig deeper into your financials and defraud you.
The e-commerce space has seen many possibilities fronted as real solutions to privacy. Some of these are:
- Gift Cards
- Prepaid Cards
It is emerging however, that none of these methods are truly anonymous since they may expose you in the end if you have to provide further information. Also, Bitcoin, or other altcoins, for that matter, are only pseudonymous at best.
An admission on the official Bitcoin website indicates that the cryptocurrency is not anonymous. The admission goes further to state that additional effort is necessary to protect your privacy when using Bitcoin since all transactions are recorded in a public and permanent record. The blockchain nature of Bitcoin means that anyone can access the records stored therein. As such, anyone can view the balance and transactions of any address, including the identity when the user makes a purchase.
Though the Bitcoin recommends a raft of measures to help you secure your privacy when shopping online using crypto, not any of these come close to affording you complete anonymity. Using a new Bitcoin address whenever you receive a transaction, taking note of the logging of your IP address, and practicing caution when transacting in the open space, are some of the recommendations.
The Bitcoin website also mentions using mixing services.
What is a Mixing Service?
A cryptocurrency mixer refers to a tumbler with various pools of altcoins. The purpose of these pools is to provide camouflage for your transactions. You put in, say, x amount of crypto and get it out in a new address that cannot be traced to you. In addition, you can use the service to make a payment without revealing your personal information to the vendor.
And in cases where you provide personal information, such data cannot be attached to your transactions since every payment you make originates from an anonymous source.
How Cryptocurrency Mixixng Services Work
A Bitcoin mixer, also referred to as shuffler, scrambler, or tumbler allow you to hide the source of your cryptocurrency when you send or receive money. Bitcoin is an excellent way to make P2P payments, donations, and purchases because of its low transactional charges.
However, Bitcoin transactions, as earlier noted, are public. A tumbler, as such, is a third-party service that breaks the connection between your wallet address (sender) and the recipient address (receiver).
If someone chooses to scrutinize your transactions, they will see that you sent coins to a certain wallet. From the vast transactions undertaken from the tumbler, however, they will not identify your succeeding transactions.
The market has a number of tumblers. The most popular, however, are:
- Wasabi Wallet
Using a Bitcoin Mixer to Make Anonymous Purchases
Mixing coins using a tumbler is a straightforward process. Different mixers, however, provide slightly varied steps depending on the masking routes they use. This narrative will provide the conventional format as well as everything you need in order to undertake a successful mixing. Firstly, a look at what you need.
- A Tor browser (not necessary when using SmartMixer)
- A Bitcoin wallet with sufficient coins
- An understanding of how to buy, send and or fund a Bitcoin wallet
- An encrypted note that tracks the process, addresses, IDs and other important information (not necessary when using the SmartMixer).
1. Start by creating a burner email and attach it to an anonymous wallet.
2. Use your normal browser or the Tor browser and navigate to the SmartMixer platform (https://smartmixer.io
) for the conventional browsers and (smrtmxdxognxhv64.onion) if you are on Tor.
3. Choose the cryptocurrency you wish to mix. (SmartMixer has an option of up to four coins).
4. Key in the destination address. 5. Set your preferred fee. This fee is a percentage of the amount you wish to mix.
6. Set the delay duration.
7. Download the SmartMixer’s letter of Guarantee.
8. Send coins to the destination address.
Privacy when conducting transactions online can save you a ton of headache. It may not be possible when using crypto, as many have wanted to believe. Services such as the SmartMixer, however, ensure that you transact securely and wholly privately.