29 Jul '16, 5pm

Bitcoin Mixer: How to Secure Your Identity

Bitcoin was designed as an anonymous and decentralized currency. But transactions are never truly anonymous, as they are recorded and available on the Blockchain — the distributed ledger which keeps a record of every Bitcoin transaction. When you use Bitcoin to pay for goods and services, you need to provide your name and address to the seller for delivery purposes. This means that a third party can trace your transactions and find ID information. This is the reason why there are such services as Bitcoin mixer, for example, which allows you to exchange your Bitcoins for different ones which cannot be associated with the original owner. Martin Albert, Bitalo Owner, explains to CoinTelegraph: “You cannot overcome the general principles of the Bitcoin network, that means in the end you can only make it very complicated to track individual coins, but still you can track every ...

Full article: https://cointelegraph.com/news/bitcoin-mixer-how-to-secur...

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