Author

Topic: Anonymizing BTC (Read 56 times)

legendary
Activity: 3234
Merit: 5637
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Today at 06:23:19 AM
#8
Sending conjoined 0.5 BTC from Ginger wallet to a non-KYC CEX (e.g., Margex or Bybit)
~snip~


When a beginner appears and mentions some CEX that no one has heard of before, it looks rather suspicious to me - especially if that same CEX obviously has similar tactics as freewallet, which freezes the user's funds and then requires an insane KYC procedure. In any case, the OP has strange ideas, and if he's legitimate, I hope he doesn't lose all that money with some wrong move.
legendary
Activity: 4466
Merit: 3391
Today at 06:17:35 AM
#7
I would like to anonymize 0.5 BTC that I purchased and convert it to ETH and trade on DEX

I don't know what anonymity capabilities Ethereum has, but I feel like you could simplify your process by buying the ETH directly and then running that through some kind of mixer.
hero member
Activity: 3038
Merit: 634
Today at 04:26:02 AM
#6
Bybit is no longer a non KYC exchange.
This is my first thought upon reading his example. Although it could just be an example but maybe it helped that everyone told him that Bybit is no longer a CEX.

And, if you OP is going to send coinjoined/mixed BTC to these exchanges, you should be ready for consequences.

Withdrawing ETH to Trust Wallet
Why not use Metamask instead?
legendary
Activity: 1554
Merit: 1167
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Today at 04:17:39 AM
#5
Sending conjoined 0.5 BTC from Ginger wallet to a non-KYC CEX (e.g., Margex or Bybit)

Trading 0.5 BTC for ETH on the CEX
Bybit makes KYC mandatory. I am using MEXC . The current minimum withdrawal on MEXC is crypto amount worth 10 BTC. You can use it instead of using Bybit. I do not know about an exchange called Margex but I can recommend you MEXC. Or you can use instant exchange that allows Tor and VPN like exch.cx

Withdrawing ETH to Trust Wallet
Trustway is not open source at all, it is a close source wallet. You can give wallet like Unstoppable wallet a try. It is an open source wallet and I can recommend it.

You do not necessary need to convert your bitcoin to ethereum before you achieve your goal, you can withdraw bitcoin later instead
sr. member
Activity: 1680
Merit: 379
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Today at 02:20:51 AM
#4
You can use eXch to exchange BTC to ETH without any KYC. You can also do it through Trust Wallet, which uses the decentralized cross-chain DEX THORChain. I believe Trust Wallet is not open source so you might want to use Cake Wallet instead, it also uses the same DEX. Swapping BTC to ETH will be cheaper on eXch because it is centralized, so that is one tradeoff to consider.
hero member
Activity: 728
Merit: 612
Today at 01:55:51 AM
#3
Your mistake is send the Coinjoined coins to CEX, it's not even non-KYC CEX because Bybit already force all users to submit KYC. I don't really know with Margex, it's not a popular CEX and risky to use.

Don't link your coins to CEX, instead use no KYC P2P exchanges like Bisq, Robosats, etc.

It's up to you whether you want to use CoinJoin, mixer or trade it to Monero.

User Account: In order to use any of the Services, You must create and maintain an account through the Services ("User Account"). To create or maintain Your User Account, or enable functions on Your User Account, You will be required to provide Us with certain information and documentation, including, as applicable, the information and documentation associated with identity verification and other screening procedures described in Section 3.3, below. You will: (a) create a unique password; (b) provide complete and accurate information; (c) promptly update any information You have provided so that the information is complete and accurate at all times; (d) maintain the security of Your User Account by protecting Your password from unauthorized access or use; (e) promptly notify Us if You discover or suspect any unauthorized access or use of Your User Account or any security breaches related to Your User Account; (f) be responsible for all activities that occur under Your User Account, and accept all risks of any authorized or unauthorized access to Your User Account.

Using Electrum with VPN at all times aren't make you anonymous, VPN could be a honey pot, it's recommended if you use Bitcoin Core and run full node using Tor.
staff
Activity: 3500
Merit: 6152
Today at 01:53:31 AM
#2
Bybit is no longer a non KYC exchange. I don't believe I have heard of margex before. An alternative to that would be to use exch exchange and trade to either ETH as you're planning to, or to XMR which is a better option for annonymity
?
Activity: -
Merit: -
Today at 01:48:04 AM
#1
I would like to anonymize 0.5 BTC that I purchased and convert it to ETH and trade on DEX

I purchased 0.5 BTC with cash and sent it to an Electrum wallet address.
The PC with Electrum is connected to a VPN at all times.

Here are the steps I'm planning:

Sending 0.5 BTC from Electrum to Ginger wallet and conjoining

Sending conjoined 0.5 BTC from Ginger wallet to a non-KYC CEX (e.g., Margex or Bybit)

Trading 0.5 BTC for ETH on the CEX

Withdrawing ETH to Trust Wallet

What are the potential weaknesses in this approach, and are there any alternative methods that could provide better anonymity?
And should I send the entire amount at each step, or break it into smaller amounts?
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