A Bitcoin mixer is a service that helps users hide their funds from the public. Mixing allows you to send funds from your wallet to another wallet without being identified. However, there are some drawbacks to using a mixer.
One of the major drawbacks of using a mixer is that it can be used for illegal activity. If you use a mixing service to launder your bitcoin, you may face the risk of being caught by authorities.
Mixers have been largely used by criminals to conceal their activities. Governments in some countries have imposed restrictions on coin mixing services. But some mixers are legitimate and legal.
You should also be aware that a good mixer can help you protect your online privacy. Mixers blend up your transaction records, so you will be untraceable.
Unlike a virtual wallet, a mixer does not save information about your transactions. This means that inspectors will not be able to identify your funds. In addition, all your information will be deleted once your transaction completes.
Decentralized mixers are a more secure way of handling your funds. Most of them do not store your personal data.
Mixer exchanges work by sending your funds to an address, then using a “mash-up” to create a new address. During the process, you will be charged a fee, which you can specify.
When you receive your mixed coins, you can choose to delay the transfer for up to 24 hours. Setting a delay time will increase your anonymity. Using a delay is preferred over instant mixing.