Cryptocurrency holders often use bitcoin mixers like SmartMix for privacy reasons, not as an attempt to hide illegal activity or income. Despite their dubious reputation, bitcoin mixers are legal services that operate in the open. So who really uses bitcoin mixers and why?
According to a webinar from blockchain analysis firm Chainalysis, the majority of funds sent to cryptocurrency mixing services or tumblers comes from exchanges, which indicates that mixers are primarily used for privacy purposes rather than for illicit activities. In fact, up to 40% of funds that go to bitcoin mixers are coming from exchanges and another 28% comes from other mixers, showing that bitcoin users are trying to add as many layers of security to their online privacy as they can.
You don’t have to be operating a multi-billion-dollar darknet market to want financial privacy. Maintaining anonymity online increases the safety of your cryptocurrency assets, and no matter who you are there are many legitimate reasons to want to obfuscate your bitcoin transactions. If you’re concerned about how much personal data you leak simply by sending or receiving cryptocurrency, remember that SmartMix is an essential tool to safeguard your identity. In conjunction with other security measures, make sure you mix your bitcoins whenever you make a transaction that you think should be private. Check out other articles on this blog for more suggestions for online anonymity. Stay safe and happy mixing!