is it necessary to mix Bitcoin that you bought from an exchange?

death69

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Quote from: tjtonmoy on April 17, 2023, 12:10:36 PM

The purpose of Bitcoin mixer is to ensure you privacy and anonymity. If you are transferring your coins from any CEX or DEX, you can always use new wallet every time. Just create any software wallet and send it to that. CEX won't be able to track you that way. But that could cost you more than any mixer services. Or you can use low gas fee and wait a bit long. It's totally your choice.

But if you are really concern about your privacy and can't find any other way to keep your privacy safe. Then why not. Your coins, your privacy, your choice.

to cloak or not to cloak? It's like picking between a mouth-watering chocolate cake and a humble carrot cake – both rock, but one's a wild party for your taste buds. Now, Bitcoin mixers? I've got mixed emotions, bro (wink, wink). Sure, they dish out that privacy sauce and help your transactions fly under the radar. But they're also kinda like sporting a fake 'stache – yeah, it hides your mug, but you're screaming "shady business" to the world.

So, what's a crypto-savvy dude or dudette to do? Personally, I see Bitcoin mixing as a high-stakes game of digital hide-and-seek. You might get busted, but play it smart and ninja-like, and you could dodge the spotlight and reign supreme. And yeah, I agree with you. When the chips are down, using a Bitcoin mixer is a personal call. But if you're craving that extra sprinkle of privacy with a side of adrenaline rush, it might just hit the sweet spot.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Unbunplease on April 16, 2023, 06:33:44 PM

In fact, there is not much point in mixing if you, as an end user, show your IP address or withdraw money from bitcoin or cryptocurrency sales to your card. When you go into a wallet or an exchange, you show your IP address, and it's stored on the network. So you need to think about working with cryptocurrencies, not mixing.

I think the paranoia is more than the real problem. Signing up on an exchange and sending in money there you are getting logged, you might try to avoid these by using TOR, using mixers and using more than one internet connection, whatever you will not be able to completely stay off the grid.

And I ask, what is the point if you are not dealing with something illegal? If your country forbids use of crypto just collect it through signature campaigns, dont buy it or sell and keep it in store for a hopeful future. Unless you are doing money laundering and criminal activity you dont need so many methods to keep clean.

What we rather need is a more lenient government stance to crypto, and for that we have to make people aware and allow them to use crypto more. I have this gut feeling that the use of mixers only leads to governments being skeptical about how common people are using crypto for.

pixie85

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I can give you some examples of when you'd want to mix your coins.

Gambling is illegal in some countries. If you won some cryptocurrency at a casino and want to sell it on a centralized exchange, and it's illegal to gamble in your country, you might want to mix it first.

There can be also a situation where you earn money from signature campaigns and don't want your real name to be linked to your forum account by the exchange employees, or the government that can demand the exchange to provide your registered name and bitcoin address.

tjtonmoy

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Quote from: Flexystar on April 19, 2023, 12:09:37 PM

~Snip

Well, this mixing is only useful to those people who are moving large quantity of coins and are really concern about their privacy. If you are moving a small amount, you can always choose the alternative way with custom gas fee, which could be very low. Compare to the mixing service, that will be the best option.
Correct me if I am wrong, I don't have any strong proof on this, but I have seen this somewhere. Mixed Bitcoins are often seen as a threat to many exchanges. They think that these coins have been involved in illegal activity. So they freeze any kind of mixed bitcoin deposits. As I said, I have no strong knowledge about it. So if you know, please let me know.

Flexystar

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Quote from: tjtonmoy on April 17, 2023, 12:10:36 PM

The purpose of Bitcoin mixer is to ensure you privacy and anonymity. If you are transferring your coins from any CEX or DEX, you can always use new wallet every time. Just create any software wallet and send it to that. CEX won't be able to track you that way. But that could cost you more than any mixer services. Or you can use low gas fee and wait a bit long. It's totally your choice.

But if you are really concern about your privacy and can't find any other way to keep your privacy safe. Then why not. Your coins, your privacy, your choice.

I think that is why we should switch to the Mixer services. You can rely on them since you get higher chances of anonymous coins which surely never used by anyone and trackless. This will always make you anonymous ensuring you can keep using that exchanger again and again all the time.

This is only helpful for the users who are hardcore traders I think and whose volume of trading is huge. This means such user can forget about the mixing fees and give more preference to the mixing.

Though there are plenty of mixers available, I would suggest you to try out one which will provide longer days of wait time. For example, 2-3 days wait time can give you hardest mixing and highest anonymity. Good for the high amount of exchanger coins.

JayTrain

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It's important to consider the potential risks associated with buying and selling cryptocurrencies on decentralized exchanges. While these exchanges may provide greater privacy and anonymity, they also lack the same level of regulation and security measures as centralized exchanges. This means that there may be a higher risk of scams, hacks, and other security breaches.

Using a Bitcoin mixer to mix your bought Bitcoin before depositing them in your own wallet can add an extra layer of privacy and security, but it's not a foolproof solution. Additionally, it's always a good idea to keep your own wallet secure by using strong passwords, two-factor authentication, and other security measures.

tjtonmoy

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The purpose of Bitcoin mixer is to ensure you privacy and anonymity. If you are transferring your coins from any CEX or DEX, you can always use new wallet every time. Just create any software wallet and send it to that. CEX won't be able to track you that way. But that could cost you more than any mixer services. Or you can use low gas fee and wait a bit long. It's totally your choice.

But if you are really concern about your privacy and can't find any other way to keep your privacy safe. Then why not. Your coins, your privacy, your choice.

fullhdpixel

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Quote from: Oneandpure on April 14, 2023, 03:26:46 AM

I don't think its necessary for mixing Bitcoin bough from exchange market, however have been privacy when your Bitcoin purchase from exchange market without know by any one else except withdrawing to other wallet or your wallet have been public like signin BTC in Bitcointalk forum. For public figure or businessmen have linked with politician seems need to mixing their bitcoin fund due how to make it privacy and not transparent about they Bitcoin assets in their wallet.

But if have country with huge taxes better mixing your bitcoin fund and how to protect from government checking your Bitcoin assets, but if not have to pay taxes seems not requiring for mixing bitcoin assets.

Other than for privacy purposes, there might be people who are paranoid and think the Bitcoins that they bought, came from a criminal that is being tracked by the authorities. They are afraid that they will be the one who will be tracked once the Bitcoin is transferred on their possession.

This is where they use a mixer to cut the link of the transaction. I don't see anything wrong if you are a businessman and have a connection with some politicians. Why will someone suspect you if you buy a Bitcoin? Maybe yes if you are dealing with drugs or money directly from that politician and that politicians are also hot in the eyes of the authorities or the public. It's also wrong to evade taxes.

dothebeats

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Coins that came from an address would already be mixed in a way, so IMO if you're an end user that is only doing bitcoin for stashing, it is passable. But if you're one of those in the extremes that wanted to really make sure that the coins are untraceable to you, you will use a mixing service to sever any links and traces to you. Exchanges can still say that those coins they got out of their hot wallet belongs to you, although proving it through chain links and analysis would be hars if a mixing service is used to obscure everything that leads to you.

Unbunplease

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In fact, there is not much point in mixing if you, as an end user, show your IP address or withdraw money from bitcoin or cryptocurrency sales to your card. When you go into a wallet or an exchange, you show your IP address, and it's stored on the network. So you need to think about working with cryptocurrencies, not mixing.

ultrloa

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Quote from: Bushdark on April 14, 2023, 12:33:51 PM

Quote from: Ojima-ojo on April 07, 2023, 10:44:53 AM

In the quest to remain anonymous and maintain privacy without a trace remain our utmost aim in the cryptocurrency industry, what do you think about coins that you bought from the exchange in this discussion our focus will be on a decentralized exchange.

Do you think it is a necessity to use a Bitcoin mixer to mix your bought Bitcoin before finally depositing them in your own wallet?

I don't see any reason why u have to use a Bitcoin mixer to mix the Bitcoin bought from an exchange. Although it all depends on why I bought the Bitcoin and my intentions. Some persons may buy Bitcoin to keep it for long and they may decide to mix it to make sure that no one has idea how much Bitcoin they have in there portfolio. Some investors may decide to accumulate large numbers of Bitcoin and they don't have anyone to have idea on the wallet they are storing them.

Maybe for AMLA reason for government not to trace out each transaction he made. Aside from that I also don't see any reason why do mixing since bitcoin bought on exchange is safe especially when we buy it using our own money. But its still his decision or preference to use mixers and nothing really wrong with this if he want to be more secure and untraceable to the eyes of people who want to search each transaction he do.

Fivestar4everMVP

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Quote from: Ojima-ojo on April 07, 2023, 10:44:53 AM

In the quest to remain anonymous and maintain privacy without a trace remain our utmost aim in the cryptocurrency industry, what do you think about coins that you bought from the exchange in this discussion our focus will be on a decentralized exchange.

Do you think it is a necessity to use a Bitcoin mixer to mix your bought Bitcoin before finally depositing them in your own wallet?

What is the risk associated with Bitcoin trading most especially when the source of the Bitcoin is unknown since you using it as an exchange?

First, how many decentralized exchanges offer bitcoin trading, by this, I mean real bitcoin and not the wrapped version?
If we check, we gonna discover that they are few, and it's mostly those that have crosschain capabilities that offer buying selling of real bitcoin, the rest of the decentralized exchanges offer buying and selling of wrapped version of bitcoin..

Personally, I've never used a mixer bitcoin, and I've never seen the need to, and I doubt if there will ever be a need for me to use it In the future, but then, if I have a strong need for it, that is, if a situation warrants that it is very important to move my bitcoin through a mixer, then why not, I would gladly use it.

rhomelmabini

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Quote from: Ojima-ojo on April 07, 2023, 10:44:53 AM

Do you think it is a necessity to use a Bitcoin mixer to mix your bought Bitcoin before finally depositing them in your own wallet?

What is the risk associated with Bitcoin trading most especially when the source of the Bitcoin is unknown since you using it as an exchange?

If you're concern that someone may know your identity even if you bought it on an exchange then it's fine but if you just sent it on your own wallet that's known publicly then there's no reason to use any mixer, you better use a new one. If you're not someone targeted by AML authorities you don't have to worry about your funds tbh, exchanges wouldn't care on what source you get it.

Bushdark

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Quote from: Ojima-ojo on April 07, 2023, 10:44:53 AM

In the quest to remain anonymous and maintain privacy without a trace remain our utmost aim in the cryptocurrency industry, what do you think about coins that you bought from the exchange in this discussion our focus will be on a decentralized exchange.

Do you think it is a necessity to use a Bitcoin mixer to mix your bought Bitcoin before finally depositing them in your own wallet?

I don't see any reason why u have to use a Bitcoin mixer to mix the Bitcoin bought from an exchange. Although it all depends on why I bought the Bitcoin and my intentions. Some persons may buy Bitcoin to keep it for long and they may decide to mix it to make sure that no one has idea how much Bitcoin they have in there portfolio. Some investors may decide to accumulate large numbers of Bitcoin and they don't have anyone to have idea on the wallet they are storing them.

Quote

What is the risk associated with Bitcoin trading most especially when the source of the Bitcoin is unknown since you using it as an exchange?

I don't see any risk attached to mixing your Bitcoin. The major reason why people mix is for privacy. It is just that many hackers and scammers had hijacked the sole reason why people decide to mix their coins.

Oneandpure

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I don't think its necessary for mixing Bitcoin bough from exchange market, however have been privacy when your Bitcoin purchase from exchange market without know by any one else except withdrawing to other wallet or your wallet have been public like signin BTC in Bitcointalk forum. For public figure or businessmen have linked with politician seems need to mixing their bitcoin fund due how to make it privacy and not transparent about they Bitcoin assets in their wallet.

But if have country with huge taxes better mixing your bitcoin fund and how to protect from government checking your Bitcoin assets, but if not have to pay taxes seems not requiring for mixing bitcoin assets.

qwertyup23

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Quote from: Ojima-ojo on April 07, 2023, 10:44:53 AM

In the quest to remain anonymous and maintain privacy without a trace remain our utmost aim in the cryptocurrency industry, what do you think about coins that you bought from the exchange in this discussion our focus will be on a decentralized exchange.

Do you think it is a necessity to use a Bitcoin mixer to mix your bought Bitcoin before finally depositing them in your own wallet?

What is the risk associated with Bitcoin trading most especially when the source of the Bitcoin is unknown since you using it as an exchange?

I do not think so especially if you are not so concerned with your privacy in terms of your transactions.

Generally, people mix their BTCs when they transact huge amounts from one wallet to another to avoid getting flagged by a current exchange. Sometimes, exchanges question the amount of BTCs you receive but if you are transacting relatively small amounts, I do not think that applying for a mixer is the best course of action.

Though that may be the case, for maximum privacy, a mixer is still recommended but not always.

dunfida

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Quote from: TheUltraElite on April 13, 2023, 12:02:26 PM

I think its a personal choice. In some countries you might need to be more tactful when dealing with local laws and there keeping your privacy intact might need the help of a mixer and therefore you should use it. But I think the lack of trust and the pseudoanonymity of bitcoin has led to a sort of paranoia among the users of this asset and thus the influx of mixers and all, how far actually help you in doubtful since their logs do get leaked to authorities when they get hacked.

So necessity, I dont think so. But to calm that inner voice of getting in trouble because of using bitcoin, yes.

Yes, this is situational on which there are really places on the world on which laws and regulations is somewhat strict compared to other place which its citizens doesnt really have no choice but to deal and comply on

whats been asked.For them to be able to avoid such condition then they would definitely be finding ways for them to avoid on what should be avoided.If you do need on mixing up your coins if its been
bought on an exchange then you could really have lots of options for you to choose from.

But actually having that single transactions on exchanges does already mixed up coins or something that couldnt be traced up.

death69

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Ah, privacy - the crypto buff's grand aspiration. But with decentralized exchanges, even foolproof strategies can falter. Voilà: Bitcoin mixers.
I won't assert mixers are vital. But let's be real - at times we desire that supplementary safety net. It's like masking at the grocery store - you could forgo it, but why flirt with danger?

Discussing risks, Bitcoin trading is akin to poker featuring a wildcard. Erratic? Totally. Exhilarating? Darn straight!

You could land a flop, but that's the crypto adventure. Luck on your side? Take the leap! Just don't forget: diligence and a keen eye are essential.

Ultimately, to mixer or not to mixer is your call. As for this guy, I'll snag all the privacy I can. Who's to predict the shenanigans I'd stir up otherwise?

TheUltraElite

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So anyway, I applied as a merit source :)

I think its a personal choice. In some countries you might need to be more tactful when dealing with local laws and there keeping your privacy intact might need the help of a mixer and therefore you should use it. But I think the lack of trust and the pseudoanonymity of bitcoin has led to a sort of paranoia among the users of this asset and thus the influx of mixers and all, how far actually help you is doubtful since their logs do get leaked to authorities when they get hacked.

So necessity, I dont think so. But to calm that inner voice of getting in trouble because of using bitcoin, yes.

el kaka22

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I highly advice against it if there is nothing you want to hide. I mean normally it would be fine to hide it if you want to hide it, that's fine, but if you do not want to hide it then I would advice against it.

Because there are some mixers which are against the rules of some exchanges, you need to know the best mixers and they are so rare, but when you are mixing in a good place that means you should be fine and you could end up depositing to exchanges. Binance is the biggest one and banned some mixers, which means if you mix then you can't send money directly there by mixing, or withdraw directly to mixer. Those type of added risks are not type of things you should do in the crypto world since you may not get it back ever again.

Topic: is it necessary to mix Bitcoin that you bought from an exchange? (Read 441 times)