Good Bitcoin mixers support multiple languages, instant transfers, custom fee selection, and usage on the Tor network. They play an important role in preserving the privacy of the user, it is impossible to link bitcoin transactions to the senders.
Bitcoin transactions can be linked to the owner’s identity through a public blockchain.
Protecting Your Identity
Bitcoin mixer services are meant to ease the use of owners. Signing up is not required to start up a profile. Most of them do not send a PGP key verification. Their logs, transaction history do not require emails, names, and other personal information. Any transaction you make will not be linked to you and the origin.
Bitcoin mixer will not give away the source or the reason for the transaction in case your transaction is linked to your identity. It operates by obscuring the connection between bitcoin transactions and bitcoin users’ identities. Transaction logs are deleted after every 72 hours to protect the user’s privacy. The link between the sending address and receiving address is wiped off.
To Avoid Hacking
Hackers have a habit of striking when nobody is looking. Hot wallets connected to the internet are at high risk of attacks from hackers. Using a bitcoin mixer you will conceal your wallet address.
If you have a big investment, hackers will always be hunting your wallets. Bitcoin mixers will provide privacy by mixing tokens and sending them to a secure wallet that is not exposed in the transactions.
Financial censorship is common in some states, they censor by seizing funds and freezing accounts. Without Bitcoin mixers, the government can track your transactions on the Blockchain and hold your digital funds in your wallets. Preventing censorship is important especially for critics or opposition parties.
The transaction privacy offered by Bitcoin mixer makes bitcoin be used as a tool of speech and expression. Without privacy, opposition groups risk losing support if the state begins to target individuals funding them by tracking any transactions. It becomes easy to maintain anonymity when such groups are making donations.
The work of blockchain analysis companies is to track transactions and monitor the Bitcoin blockchain. They have techniques to connect IP addresses to bitcoin transactions. This means when you are using bitcoins for buying goods and services, you have to provide your personal information and address for delivery purposes.
A third party is not able to track your transaction information and other ID information. This also prevents the information from being shared or sold to third parties.