If you do not like the idea of some Bitcoin users piecing together various components of Bitcoin and tracing the origin of a Bitcoin transaction, then a Bitcoin tumbler is the solution to your quest. A BTC tumbler is a tool that mixes Bitcoins. Thereby obscuring their origins. The tool hides, disguises, and makes it difficult for anyone to trace the roots of Bitcoins. Let us take this example. Suppose I send you a Bitcoin. You send the Bitcoin to Peter.
And Peter, in turn, sends the Bitcoin to Mary. Based on the fact that the blockchain is completely open, anyone who downloads it for scrutiny can find a direct link between Mary and I. Furthermore, if we made the transactions on a KYC platform, then the entity carrying out analysis on the chain of transactions that took place between the four of us can track us down, thereby bursting our real-world identities.
A BTC tumbler routes transactions to different addresses. Splitting them into smaller tokens, which are reassembled to varying times before forwarding them to a recipient. Consequently, the link between two parties engaged in a Bitcoin transaction is broken. There is no chain between incoming tokens to outgoing tokens.
Connect to a tor browser and create a new wallet transition wallet from a wallet-provider of your choice. Fund your transition wallet not in any way connected to you with your market wallet holding your Bitcoins. The reason why you need your transition wallet is that sending your Bitcoins directly to a tumbling service looks suspicious.
This entails sending your Bitcoins from your first transition wallet to the mixing address. The mixing service will require you to set various parameters, including the address where you will receive the new Bitcoins the second transition wallet , the amount you wish to mix, and the duration in which the mixing should last. Send payment to the address provided your second transition wallet. After you can spend or send the amount, you wish.
Just like any other service run over the internet, Bitcoin tumbling can be plagued by a number of risks. For instance, most law enforcement agencies work against Bitcoin tumbling services. With the view that they facilitate transactions of criminal funds. A notion that is not entirely correct as most tumblers are used for lawful activities.
Notable, before settling for a tumbler, always ascertain the legitimacy of its operations to avoid losing your hard-earned coins to scammers. We cannot deny the fact that tumbling can be a useful tool for someone to launder illegally acquired tokens. However, tumbling your legitimately earned Bitcoins to erase its origins is never a bad idea. The sites owners have made a point of stating that Bitcoin is not anonymous, that it can be traced and that their solution cleans Bitcoins thoroughly to leave them anonymous.
The second screenshot is of Helix by Grams. Some deal! Regardless of the methodology chosen for laundering Bitcoins, the reality is that a failure to do so will weaken the security posture of criminals.
Being cognizant of the activity and techniques of adversaries within the cyber criminal underground is important for several reasons, not the least of which is doing business along side them in common environments such as digital currency brokerages and exchanges. Go Back. Why Go Through the Trouble to Tumble?
February 17, 3 Min Read. Post Tweet Share. Those steps resemble the following: Create a wallet through a Bitcoin brokerage or exchange site; Purchase Bitcoins and send them off to be tumbled in the wallet created in step 1; Create a second wallet using the Tor network; Send Bitcoins from the wallet created in step 1 to the wallet created in step 3.
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