Bitcoin mixers have existed since the inception of cryptocurrency, with numerous services appearing and disappearing over time. There are various reasons that individuals might opt to use them. On one hand, there are certain unethical motivations, but there are also a significant number of legitimate ones. While many believe that using Bitcoin ensures anonymity, it is not as private as people may assume, especially when third parties employ advanced blockchain analysis tools to scrutinize transaction histories.
From a privacy standpoint, given that the blockchain is inherently a public ledger of every transaction made since the genesis block, it is possible for individuals or systems to sift through transaction histories to reconstruct a detailed picture of someone’s transactions. For example, although many hardware wallets allow users to create multiple addresses or change them, when a new transaction is made, it consolidates Bitcoin from various wallets into a single transaction. Thus, if you possess multiple crypto addresses but deposit them onto an exchange or any platform requiring KYC, you inadvertently expose all these addresses to the receiver.
Furthermore, numerous countries around the world are not particularly fond of cryptocurrencies, making any transaction tied to a person potentially risky. This is where Bitcoin mixers can provide a valid function by breaking the connection between one set of wallets or transactions and another, thereby bolstering the confidentiality of someone’s crypto assets.
Enter BitMix.biz Bitcoin Mixer. This service offers an anonymous mixing solution for Bitcoin, Litecoin, and Dash, allowing users to regain privacy over their coins. I recently tested the service to see how it operates. The platform doesn’t maintain logs, and order logs are kept for only 72 hours (though they can be deleted sooner), plus it does not necessitate registration, although it is not accessible to users from the US, Netherlands, or Germany. A TOR service is also provided.
To begin, you select your cryptocurrency, after which you’ll see a few options. A basic mix involves one incoming transaction (potentially from various sources) to one address, with a minimum requirement of 0.0025 Bitcoin (transactions below this amount are considered donations, so make sure your transaction exceeds this before mining fees). You can choose a delay for the transaction’s return, either instantly or up to 72 hours, and then you will pay a fee for the mixing service. The minimum fee is 0.4%, and the maximum reaches 4%, along with a flat rate of 0.0003 Bitcoin for each address you send to. From these, a mixing strength is assigned. A higher strength means the mixed coins originate from more reputable sources (e.g., traders, exchanges, etc.), while a lower fee may suggest that the coins have a less benign history. Ultimately, it’s your decision.
Another feature allows you to randomize the fee of the mixed coin transaction, as well as the number of outputs, making analysis more challenging; however, the minimum for this option is 0.1 Bitcoin (or 1 Dash or 1 Litecoin). A “letter of guarantee” is also provided, offering a signed message that proves the address you are sending to was generated by the platform, which can be verified using any compatible Bitcoin wallet.
In my experiment, I executed a single transaction to a single address and set a delay of just over 22 hours to receive it back. After configuring my settings, I was given a Bitcoin address to send the funds. Following my transaction, I received a tx reference. Once confirmed (in my case, with one confirmation, though it can be up to six depending on the transaction size), it initiated a countdown, and when the time arrived, a new transaction was triggered. This confirmed about two hours later, and I was charged a relatively high fee (~64 satoshi/byte), ensuring quick inclusion in a block.
I conducted a few tests with online tools to determine if a connection existed between my inputs and outputs, and they were unable to draw any links. After your initial transaction, the system assigns a code that, if entered in future transactions, prevents you from receiving mixed coins from the deposits made. It’s important to note that the coins you send may eventually be mixed and transferred to others down the line.
For those with larger amounts of Bitcoin to mix, or seeking enhanced privacy, you can also choose to split your coins across multiple wallets and determine the proportion of Bitcoin for each. Again, there’s a minimum of 0.0025 Bitcoin per output address, and the percentage fee and flat fee apply per output address. Thus, for splitting your coins across three wallets, you would need to deposit 0.0075 after miner fees, and the charges would be three times the selected percentage and three times the 0.0003 flat fee.
Overall, the system was fairly easy to navigate and functioned as described in my case. In terms of additional features, they offer an API (with reduced fees), which enables other systems to provide a mixing service to their users. So if you require a Bitcoin mixer to safeguard the privacy of your Bitcoin, Dash, or Litecoin, BitMix performed effectively in this test.
Promoted post – This review was conducted using our own funds to provide an honest assessment of the service.
