Anyone who has been around the cryptocurrency scene for a while will know just how important the best cryptocurrency tumblers are in ensuring safer and more private transactions.
The Blockchain and cryptocurrencies probably are the two best inventions of this century. Among online entrepreneurs, the convenience of crypto is both admirable and irreplaceable. However, not all features of this wonder denomination are bright.
It is true transacting in Bitcoin will give you far more privacy than using a bank account would. However, it is also true that it does not take much to wipe off the said allure of assumed privacy. The truth is, most cryptocurrencies are not private. Rather, they are only pseudonymous.
Anyone that is interested in your cryptocurrency transactions can easily get to them because every transaction in a Blockchain is recorded in a public ledger that anyone can access. It is this awakening reality that has made cryptocurrency tumblers or mixers very indispensable in this new era of FinTech.
The Best Cryptocurrency Tumblers – An Overview
The best cryptocurrency tumblers or mixers are online facilities that make it possible for you to disguise your cryptocurrency transactions. There are different approaches to cryptocurrency mixing. However, the most common involves putting the user’s crypto into a pool along with a stash of coins collected from various sources, mixing the same before directing the clean coins to a discreet crypto address provided by the user.
Do note that a few factors are important to consider when choosing a cryptocurrency mixer. These factors are the level of anonymity that a mixer offers, its overall reputation, the innate features, as well as the fees it charges.
With this definition given above in mind, here is a look at the best cryptocurrency tumblers in the market.
AnonyMix keeps both your identity as well as financial transactions secure. There mode of operation here is simple, you send your Bitcoin, and they send out fresh coins to an address you provide. In doing so, the said transaction breaks the continuity between your old stash of coins and the new Bitcoin that the tumbler sends your way.
For increased anonymity, AnonyMix suggests that you delay the mixer payment as well as direct the new coins to several addresses.
Speedy and secure – The platform has a feature called Quick Mix that enables users get their coins after one confirmation. However, users that require heightened anonymity are advised to pick between timed and random delays as this makes the coins difficult to trace.
High Capacity – AnonyMix has a considerably large reserve that consists of both hot and cold storage. For this reason, mixes of up to 120 BTC is possible in a single take.
Multiple Addresses – Allows users to transfer mixed coins into multiple cryptocurrency addresses. At the moment, a single transaction can be sent out to as many as five addresses.
No Logs – Users can delete their transactions immediately. If they don’t, the platform will hold them for up to a week, tops, before deleting them.
2. Wasabi Wallet
Wasabi Wallet is one of the oldest cryptocurrency mixers on the market. Its reputation is solid and anonymity, admirable. The open-source, non-custodial facility focuses more on privacy than any other functionality. For this reason, it is a choice mixer for many cryptocurrency enthusiasts.
The platform mixes cryptocurrency using a trustless coin-shuffling technique referred to as CoinJoin. The process relies on math to give provable anonymity supported by mathematical logic.
Wasabi users put their crypto into the platform, which in turn, combine all the small transactions into one huge deal. Because of the multiple participants in a single deal, CoinJoin makes impossible to determine the corresponding inputs and outputs since they are so many. As a result, the initial crypto trail gets obliterated.
Chaumian CoinJoin – Acting like a whirlpool, this feature dissociates the sender from the recipient usually by integrating Chaum bling signatures. The end result is a transaction with dissociated exit and entry points. The platform does this by grouping the said transactions then scrambling them alongside other concurrent transactions.
Manual labelling and selection of coins – When you send out a coin to a recipient, both the sending and receiving addresses keep record of the transaction. If the recipient sends the same coin to another user, the said user can track the travel loop of the coin back to the initial sender. By manually labeling the coins transacted, you can choose which coins to send out in order to disguise previous transactions.
SmartMixer works a lot more like AnonyMix. However, it is preferred because it has an easy-to-use interphase that is coupled with a straightforward mode of operation. The tumbler has three cryptocurrency pools each with varying features. Depending on the preference chosen by a user, the coins you submit to the platform will go into a corresponding pool before being channeled to the cryptocurrency address(es) a user provides.
Smartly 100% Anonymous – The platform guarantees you complete anonymity since all transaction details can be deleted either immediately or after a predetermined period, usually not more than 24 hours.
Smart interphase that needs no signing up – When mixing coins in the SmartMixer platform, you do not have to provide any personal information. Instead, just navigate to the site, follow the given prompts, send in your coins, and give the recipient address.
Safe Access – You can use the SmartMixer platform on your regular browser, with a VPN, or access it via TOR. Every option ensures that you are safe and that your transactions are guarded according to the safety and security level that you are after.
Smart Marketing – While safety is the key reason for using a cryptocurrency mixer, it does not hurt to get paid while using one. The SmartMixer platform believes in this notion. Their referral program rewards users that refer other users who sign up on the platform. And, you can earn up to 70% of the fees that your referrals pay to the platform.
Getting a credible cryptocurrency mixer is important when you want to be safe online. And, these three will not let you down. Of course, the editor’s favourite, SmartMixer, carries the day!