Security and Anonymity when working with Bitcoin cryptocurrency is no less important than for more familiar money. During the rather short existence of Bitcoins, hackers made several attempts to hack online wallets, many of which were successful. Cryptocurrency security, in this case, is under great threat.
Bitcoin is perceived by everyone as a decentralized and very reliable currency, backed by powerful cryptographic algorithms that meet strong standards. At the same time, the owner of this cryptocurrency when conducting transactions in Bitcoins is not required to disclose information identifying him, unlike other popular types of payment, where you need to enter a credit card number or security code.
Technologically, Bitcoin turnover with it can work in complete privacy mode. Nevertheless, the current system implementation is not as anonymous as it is desired since each transaction must be publicly registered. All crypto holders can check the digital currency moving between different addresses. On the one hand, users cannot identify this information, since transaction numbers are random numbers. On the other hand, if at least one transaction can be identified and with the owner, then it is likely that the owners of other transactions will be highlighted as well.
Information about the owners can be obtained from the analysis of the blockchain, through surveillance or using search engines to help find addresses. Protection against identification and complication for hacker attacks is that each new transaction is assigned a new number.
Also, transactions through exchangers can cause the identification of a Bitcoin address. If, after you use the services of exchangers, you go shopping at the trap site, then there is a possibility that a person who wants to track your address will be able to prove that the same person committed them from the same address, after will see two transactions.
Therefore, as in real life, you must take care of the security of your wallet. Bitcoin allows you to transfer amounts anywhere in a very simple way and allows you to fully control your money. Such great opportunities are accompanied by an increased level of danger. However, Bitcoin can provide a very high level of security if used properly. Always remember that protecting your money is your responsibility.
Encrypting your wallet, or your smartphone, allows you to set a password against anyone trying to withdraw funds. This will help protect against thieves, however, it will not be able to protect against devices or keylogger programs that monitor all the characters you typed.
How to remain anonymous on the Bitcoin network?
Tracking your money transfer history can be used to identify your address. Keep in mind that Bitcoin is not a completely anonymous means of payment. Anonymity is perceived as the user’s unconditional right to keep secrets about their transactions, and in addition, it has an invaluable impact on the protection against theft of cryptocurrency. There are several ways to maintain anonymity.
- Mine Bitcoins on your own or within the pool, because in this case, they appear in the miner’s wallet as if from nowhere.
- Use different addresses for incoming and outgoing transactions.
- Try to avoid transactions with large amounts of money that may allow unambiguous identification of their owner, as well as the storage of such amounts in one place.
- To use the services for mixing crypto coins of resources that mixes all money transactions, and then in a random order returns the invested money to different addresses, with time delays, etc. The amount is credited to the user’s account minus a random commission. Combining Bitcoins in a large transaction pool allows you to hide the transaction chain.
The work of Bitcoin tumbler BitMix.Biz is based on this principle, which, thanks to some additional functions, significantly increases the privacy of transactions in Bitcoin network, thereby increasing the security of your coins and personal data.
Using BitMix.Biz mixer, you get the opportunity to use randomizing functions that confuse the traces of your previous transactions much more and do not allow you to connect your identity and your Bitcoin wallets:
- The function of increased randomness allows you to get coins distributed between dozens of transactions at more than one address.
- The transaction delay function does not allow you to connect different transfers with the time of their implementation since a lot of transactions for the same amount of cryptocurrency can occur in up to 72 hours and it will be very difficult to determine which one of yours.
- The randomization of the commission taken by the service for mixing crypto coins does not allow attackers to determine the exact amount of the crypto transfer. The difference in 10 times from 0.4% to 4% is significant and therefore the range of amounts is large for accurate detection by the transaction amount.
- Immediate removal of information about the mixing transaction in the crypto mixer after confirmation in the blockchain. This is available in manual mode, or happens automatically after a few hours.
In addition to the main functions that ensure Bitcoin privacy, BitMix.Biz provides its users with guarantees in the form of a guarantee letter, which they receive immediately as soon as they enter the cryptocurrency into the system. This letter not only confirms that the money was deposited at the correct address but also ensures the security of your digital funds and guarantees that any problems or failures that could arise from the user or service will be resolved.
For business representatives, Cryptocurrency tumbler BitMix.Biz offers additional opportunities to attract customers and increase their loyalty to your company. By inserting an API key on your business website you can ensure your customers the security of payments and their Bitcoin wallets and coins. Most customers will appreciate such care and ease of use. There is also an opportunity for everyone to earn money on BitMix partner program by becoming an affiliate partner.