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Why do you need anonymous crypto transactions

Why do you need anonymous crypto transactions
Since the cryptocurrency began to spread rapidly and widely throughout the world as a means of payment and investment tool, many ordinary people appeared among its holders who were not familiar with the programming and functioning of electronic currencies and blockchain-based systems. Moreover, most users are accustomed to using credit cards, as well as the fact that both information about them and about the transactions they make, are open and controlled by banks.

Many governments try to influence the crypto world and force companies that register crypto addresses to demand personal data from users when registering new wallets. Most of the newcomers to cryptocurrencies take this for granted. So many people have a misconception that the term “anonymity” refers only to the illegal laundering of criminal money and to the cybercrime that operates on the darknet.

In fact, annual cases of thefts of digital money worth billions of dollars from ordinary users prove to us the exact opposite. If you are completely law-abiding and make exclusively legal money transfers and purchases for your honestly earned money, then their anonymity is the necessary measure that will protect your digital money and will counter criminal activity on the Internet.

It turns out that if your cryptocurrency transactions are not anonymous, then you are very likely to finance terrorists or gun sellers with your money if hackers steal your cryptocurrency.

Why is this so?

 
As it often happens, the disadvantages of cryptocurrency stem from its enormous advantages. Blockchain technology has become a significant breakthrough in the field of computer networks and technologies over the past decades. The peculiarity of networks using this technology is that it is a decentralized system that provides general security for all networks, even if one of its nodes is hacked.

It is impossible to hack all the nodes at once or a lot of nodes so that you can affect the operation of the entire system. The complexity of cryptography and the distribution of information in parts between all its participated nodes in an encrypted form does not allow anyone to manage it from one point. This means that the currency created on its basis will not be subject to manipulation by one person or organization.

Information about each transaction is divided into many parts and recorded in encrypted form between many network participants. This does not allow counterfeiting cryptocurrency units or conducting unauthorized transfers of coins. At the same time, so that every participant in the blockchain can verify the reliability of every transfer, the system must be absolutely open, and any user must have access to information about all transactions.

This provides confidence in the cryptocurrency, the demand for it means its value, because its price depends only on demand, and not on the regulatory measures of central banks or governments, which often lead to crisis and bankruptcy of many ordinary people. This has become very attractive for many, especially for those who have lost their savings and assets in a series of economic crises that occur regularly.

However, these advantages cause the problem of bitcoin analysis. Since all changes in the system should be in the public domain, this makes it absolutely possible to track any transactions of any wallet. Each crypto wallet is an address consisting of a large number of different characters, which makes it unique. Each such Bitcoin address or any other cryptocurrency is tied to a specific email address.

This is the root of the problem of the lack of Bitcoin anonymity. Using specially designed programs by hackers, attackers launch blockchain analysis and track transfers of more or less significant amounts of cryptocurrency. They try to identify the email address of the wallet owner and if they succeed, then they most often easily get access to your email box, gaining access to your crypto addresses and personal data.

No one is safe


But do not think that if you do not have large sums on your crypto wallets, then you are safe, any crypto holder is always at risk of being robbed thanks to bitcoin analysis, if he or she does not take care of the anonymity of the transactions and wallets. Many cases of hacking ordinary users with small amounts tell us that with mass thefts, even small sums of money are of interest to thieves.

Since not many of the recently connected to the use of cryptocurrency payments provide their anonymity on the network, cybercriminals always show great interest even in small amounts. And it is to be expected that their attention will only grow, due to the daily increasing number of new crypto holders.

Hackers use different ways to obtain information about you and your bitcoin addresses. They use phishing sites, malware, trojans, worms and others, as a result of which scammers get your personal data, addresses and passwords, and then they can forward your crypto coins to themselves. Here are some examples of mass cryptocurrencies where millions of ordinary users have suffered.

To begin with, over the past 2018, cryptocurrencies worth more than two billion dollars were stolen. The results of this year on these sad statistics will be summed up already at the beginning of next 2020, but for now we will look at the largest cases of the passing year. Here are some of the most significant crypto thefts of the past year, as there are a lot of smaller cases that aren’t mentioned by everyone.

This spring, various cryptocurrencies worth about $ 20 million were stolen from the South Korean crypto exchange Bithumb. Most of the stolen cryptocurrency belonged to users with small amounts in their accounts.
In the middle of last summer, unknown attackers hacked the Bitpoint cryptocurrency exchange, again stealing $ 32 million from ordinary users of cryptocurrencies. Here, as you see, everything develops again in the same scenario, when they hack into the exchange, and for the most part steal the crypto assets of many users who had small sums on their wallets.
At the end of the spring of the outgoing year, having gained access to user data, such as API keys and authentication codes, cybercriminals withdrew 7,000 Bitcoins worth more than $ 40 million in one transaction from the world's largest exchange Binance. As you know, ordinary cryptocurrency holders who did not take care of the anonymity of their data suffered again.
Another high-profile case is the hacking of the Upbit exchange, which took place in the last days of this fall. 49 million dollars disappeared from user accounts due to the theft of 342 thousand Ether and transferring them to the scammer's wallet.

In addition to large cryptocurrency exchanges, hackers can use the opportunity to access your personal data, addresses and passwords through regular electronic currency exchangers, through which people sell or buy cryptocurrencies using bank cards for fiat currencies.

In most cases, you will not be able to buy or sell crypto for fiat money without providing all the personal data that, at the request of the government, such exchangers should receive from their customers. When using information from such an exchanger, criminals easily connect your identity, bank cards, email and cryptocurrency addresses.

Several times this year, user data from electronic exchangers entered the network. The largest was a data leak from the Coinmama exchange service. Reportedly, just under half a million hashed passwords and email addresses were stolen. This year, various access data for nearly 130 million users were posted on the dark web, which any criminals can now use against them.

Here we mentioned only a few examples in an endless series of data theft and cryptocurrencies that occur annually. This can convince almost anyone that the anonymity of bitcoins is a very important condition for the safe use of crypto even by the most ordinary users with pure intentions and small amounts on their Bitcoin wallets.

How to remove the risk of theft?


When applying Bitcoin analysis, your identity can be determined by identifying your crypto wallet as belonging to a specific email address and IP address from which you went to your email. This data may already be enough to harm you. Cases of theft, extortion, blackmail, and even physical abduction of owners of crypto addresses with fairly large sums are frequent.

If you do not have large enough sums, then the data obtained by the attackers will be enough to try to hack your email account or lure you to a phishing site, where you enter your username and password to enter your email and bitcoin wallet.

The ability to check any transaction on the blockchain actually deprives Bitcoin of anonymity, although at first glance only addresses and transactions are visible there. Bitcoin was conceived by Satoshi Nakomoto as a system that does not reveal the user's identity, but the rapid growth in the popularity and capitalization of cryptocurrencies strongly motivates cybercriminals to look for ways to do this.

Therefore, when the amount of cryptocurrency appears to be interesting enough for thieves on your wallet, you can become a victim, in better case, of theft of your assets, and in the worst, you and your family run the risk of physical damage.

As you can see, now anyone can monitor your wallet, transfers of your cryptocurrency and their amount, no matter what address you send the coins to. Thus, it will not work to confuse the tracks, unless you use the special Bitcoin Mixer service.

The Bitcoin Blender was designed specifically to confuse the traces of your transactions and clear your coins of identity. This has been repeatedly verified and proven to help ensure the anonymity of the cryptocurrency, your wallets, email addresses and your personal data.

A Bitcoin toggle switch such as Bit-Mix.biz will serve as a good example to understand how Bitcoin Mixer enhances your anonymity and protects against theft of extortion and other crimes against you.

To reduce the risk of tracking and carrying out malicious actions against it, it is best to immediately transfer coins to the Bit-Mix.biz blender to clean them, for example, through an exchange service, using Tor, Clearnet or NoJS without JavaScript to anonymize your location. The crypto mixer will immediately provide a break in the transaction chain, regardless of whether you mix Bitcoin, Litecoin or Dash, which excludes the possibility of further tracking and your identification.

You can not worry about the possible loss of crypto in the mixer, since as soon as you deposit your crypto coins, you will immediately receive a guarantee letter from the system that will confirm the specific amount of your cryptocurrency has been received by Bit-Mix.biz for the purpose of mixing.

Since the mixing of coins will begin immediately after you transfer the money to the Bit-Mix.biz wallet, then the traces of your transactions will immediately be interrupted. Further, the amount of your transaction will be divided into several smaller sums and after going through a series of transfers through dozens of different addresses it will return to the wallet that you specify. So all the traces that identify your initial wallet, and therefore your identity, will finally be lost among a large number of sundry transactions.

To enhance this effect, you can use the function available when cleaning large amounts of cryptocurrency. The randomization function returns crypto coins from several different wallets to the wallet you specify, which leaves no chance at all for tracking.
 
Also, the variable commission leaves no chance for hackers to track transactions by their amounts, as for example it is possible in a mixer built into Dash, since changing in a wide range from 0.4 to 4% it will not allow you to determine the amount of transfer, and therefore a specific transaction. In the case of Dash coins, if you want to be sure of their safety, then you should clear them through Bit-Mix.biz.

In addition, when using the Bitcoin tumbler Bit-Mix.biz to clean your crypto coins, you get the maximum mixing speed, due to the use of prepared already cleared cryptocurrency for this. This means that the confirmation of all transactions involved in the process has already occurred and you just have to wait for the confirmation of your only one transaction

Use one of the 10 available interface languages for your convenience, as well as earn money on an affiliate program and let your crypto assets be always safe.