is it necessary to mix Bitcoin that you bought from an exchange? - page 2.

BitDane

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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?

If you really like anonymity, then mixing Bitcoin from exchange to your wallet will increase the privacy of your receiving wallet. Remember centralized exchanges record the outgoing funds, and the receiving wallet will have a link to your account on the exchange.

Quote from: tbct_mt2 on April 10, 2023, 10:02:03 PM

Quote from: carlfebz2 on April 10, 2023, 06:24:19 PM

always make use of those various ways on mixing up your coins on deleting or erasing up your trails but we know that it is already that hard to trace up when you do
make out transactions in between wallet to wallet or from exchange into your personal wallet or vice versa.

Withdraw your coins from exchanges, move it to another wallet of yourself or move it to another exchange then to another wallet of yours is good enough.

Or move bitcoin to an exchange, trade it to Monero, withdraw Monero and move Monero to another exchange to sell it to bitcoin. Withdraw it again. You don't need to use Mixers if you are ready to do some steps by yourself.

Isn't the identity of the address linked to verified account in centralized exchange traceable? Withdrawing to an address then sending it to another address isn't different from centralized exchange to own address except if mixer is use in between.

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Quote from: Smartvirus on April 11, 2023, 03:18:24 PM

It is the job of mixers to make the chain links go away, ensure privacy without traces and when that is of importance, you just might have to use the services of mixers, just like the one am wearing on my signature.

Exchanges don't make them traces go away, most of them jobs is provide you with p2p services with them serving as escrows while and that means, some user has still hot to send you coins from where ever they've stored them, either from there wallets or the coins they've got on the exchange. This comes with a link, a link that you might not want and when you happen to be in a region that aren't crypto friendly, looking into your transactions might be something not far behind.

Just some mentioning above that you wont really be needing mixers on this process or case on which if you are really that tending to mix up coins then simply exchanging or withdrawing into exchangers and
passing up to another one would do the job because we know that deposit addresses and withdrawals are resulting on having that multi addresses once you do pull out some funds into these platforms
on which it would really be that hard to trace up on the time that you would trying to trace up and follow a certain user or address when it comes into its transactions.
There's no indeed need for some mixer because you would be able to cover up your traces with just these simple steps but of course it would be a couple of action.

Smartvirus

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It is the job of mixers to make the chain links go away, ensure privacy without traces and when that is of importance, you just might have to use the services of mixers, just like the one am wearing on my signature.

Exchanges don't make them traces go away, most of them jobs is provide you with p2p services with them serving as escrows while and that means, some user has still hot to send you coins from where ever they've stored them, either from there wallets or the coins they've got on the exchange. This comes with a link, a link that you might not want and when you happen to be in a region that aren't crypto friendly, looking into your transactions might be something not far behind.

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Quote from: AmoreJaz on April 10, 2023, 06:35:23 PM

Quote from: jossiel on April 10, 2023, 02:41:34 PM

It's all on you.

Though you're not compelled to do that but if you think that your privacy is compromised and you want to gain more privacy then do it.

It is more worrying to send bitcoins from a mixer to an exchange but since it's the other way around, there's really no problem at all if that suffices your mind and thought.

that is true. if that will give him peace of mind and you can afford additional fees and can wait, you can very well go to this route. otherwise, ask yourself, to what extent of privacy you are looking for? and what are the reasons why you want to preserve your privacy?
as the OP is seeing that his privacy is compromise owed to the fact that addresses coming from the exchange can be trace, then, do what you think is necessary.

I think we all have common reasons why we want privacy and it's understandable why he thinks he needed to ask this question.

So that's it, if he wants to have some added layer of privacy then just do it. There are a lot of mixers currently that we've seen launching their services after CMs crack down.

And most of these mixers aren't saving the logs, or are they really? Grin

Silberman

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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?

Being necessary is a strong word as whether someone wants to do this or not is completely up to them, but personally I would not recommend to use a mixer if you are going to frequently use exchanges, this is because each time you use them then those coins will be associated to your identity and you will have to mix them each time, also the coins you will receive will most likely be tainted and exchanges will not accept them, so while you gain privacy by mixing your coins you also lose the ability to use centralized services, and this can be a huge burden to overcome for most people.

tbct_mt2

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Quote from: carlfebz2 on April 10, 2023, 06:24:19 PM

always make use of those various ways on mixing up your coins on deleting or erasing up your trails but we know that it is already that hard to trace up when you do
make out transactions in between wallet to wallet or from exchange into your personal wallet or vice versa.

Withdraw your coins from exchanges, move it to another wallet of yourself or move it to another exchange then to another wallet of yours is good enough.

Or move bitcoin to an exchange, trade it to Monero, withdraw Monero and move Monero to another exchange to sell it to bitcoin. Withdraw it again. You don't need to use Mixers if you are ready to do some steps by yourself.

https://kycnot.me/

If you are lazy, use mixers is good enough and more convenient.

Quote from: |MINER| on April 09, 2023, 05:47:49 PM

I think it depends vary from person to person . What kind of security he needs depends on whether he's going to be using a mixer because if it's not that important I think mixing is a waste of money.

Using mixer does not increase your security but privacy and anonymity.

Quote from: GreatArkansas on April 09, 2023, 08:49:47 PM

Make sense, if they just deposit the Bitcoin to another exchange, I don't think a Bitcoin mixer is still needed here. I believe it will different for every different goal of the person. If they are sensitive about privacy, for sure they will do such things as this.
And there are also some Bitcoin mixers are not to be trusted because maybe instead you will become safe, your funds will indeed be frozen or get scammed or being linked to other Bitcoins that is identified as fraud.

Exchanges do batch transactions in outputs for user withdrawal requests. They are like a mixer for users already and they are used by some people to do money laundering too. Same for money laundering on cryptocurrency gambling sites. If you simply make deposit then withdraw your coins on exchanges or gambling sites, it can be one of factors for them to investigate your accounts for potential money laundering.

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Quote from: jossiel on April 10, 2023, 02:41:34 PM

It's all on you.

Though you're not compelled to do that but if you think that your privacy is compromised and you want to gain more privacy then do it.

It is more worrying to send bitcoins from a mixer to an exchange but since it's the other way around, there's really no problem at all if that suffices your mind and thought.

that is true. if that will give him peace of mind and you can afford additional fees and can wait, you can very well go to this route. otherwise, ask yourself, to what extent of privacy you are looking for? and what are the reasons why you want to preserve your privacy?
as the OP is seeing that his privacy is compromise owed to the fact that addresses coming from the exchange can be trace, then, do what you think is necessary.

carlfebz2

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Quote from: Unbunplease on April 10, 2023, 04:56:19 PM

Modern software allows you to track almost all bitcoin movements, so mixing is a completely temporary solution. In addition, you should keep in mind the need to change your location when dealing with wallets, as you can easily be tracked due to your IP address. There will still be a breach somewhere.

If you are that mindful about IP addresses then it wont really be that much a problem specially here on our country which it does really give out that dynamic address which IP addresses could really changed up
on the time that you would really be restarting out your modem.Therefore, im not really that much in concern when it comes to this about total anonymity but if you arent that much confident then you could
always make use of those various ways on mixing up your coins on deleting or erasing up your trails but we know that it is already that hard to trace up when you do
make out transactions in between wallet to wallet or from exchange into your personal wallet or vice versa.

Unbunplease

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Modern software allows you to track almost all bitcoin movements, so mixing is a completely temporary solution. In addition, you should keep in mind the need to change your location when dealing with wallets, as you can easily be tracked due to your IP address. There will still be a breach somewhere.

jrrsparkles

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If you don't want the exchange to know your primary wallet address then its obvious that mixing coins before depositing to your wallet may works but ironically since you're talking about the centralized exchange they are already having your KYC documents so anonymity and privacy voids at that moment itself.

Mixing service can give you privacy to certain extent but remember bitcoin is not completely anonymous so if your preference is anonymous over anything then choosing truly anonymous like monero or Grin is better choice.

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Bitcoin Mixings' primary concern is a privacy protection and I will recommend mixing your Bitcoins brought from the exchanges because the bitcoins bought from the exchanges are in the track of the centralized exchanges and these exchanges already own your personal information when you've done KYC for using them. So the conclusion is if you really want to be an anonymous and privacy seeker then MIX your Bitcoin using some reputed mixers it will greatly increase your privacy protection. You can consider Mixero as well and others too.

If the case is that only you are a regular user and you don't care about the transaction data to be tracked and you are just using crypto as day-to-day usage and some light working, then Mixing is not necessary but I will recommend mixing if you are in the profession of crypto because law enforcement agencies are cracking down the Crypto related transaction, especially in the Western World.

jossiel

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It's all on you.

Though you're not compelled to do that but if you think that your privacy is compromised and you want to gain more privacy then do it.

It is more worrying to send bitcoins from a mixer to an exchange but since it's the other way around, there's really no problem at all if that suffices your mind and thought.

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Actually mixing completely depends on you. If the funds are really big and you don’t want to leave back any traces then mixing will be a good idea. But if the amount is small, then I personally do not suggest you to mix the coins. As the mixing fees will be comparatively higher and nothing great will go to your wallet. Moreover mixing is highly recommended when the coins are very sensitively bought, and many times people don’t want any headache at the later point of time, so they mix the coins to be completely anonymous. At the end of the day, it’s completely your choice, what you want to do.

GreatArkansas

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Quote from: |MINER| on April 09, 2023, 05:47:49 PM

I think it depends vary from person to person . What kind of security he needs depends on whether he's going to be using a mixer because if it's not that important I think mixing is a waste of money. (....)

Make sense, if they just deposit the Bitcoin to another exchange, I don't think a Bitcoin mixer is still needed here. I believe it will different for every different goal of the person. If they are sensitive about privacy, for sure they will do such things as this.
And there are also some Bitcoin mixers are not to be trusted because maybe instead you will become safe, your funds will indeed be frozen or get scammed or being linked to other Bitcoins that is identified as fraud.

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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?

Using a Bitcoin mixer is a better option for enhancing your anonymity, as these mixers work the best to make your coins unique in this regard. Trusting exchanges blindly can be perilous, as you are uncertain about the Bitcoins they provided you. The decision is yours whether to retain the coins as they were received from the exchange, which entails low privacy, or employ a mixer for high privacy.

|MINER|

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I think it depends vary from person to person . What kind of security he needs depends on whether he's going to be using a mixer because if it's not that important I think mixing is a waste of money. Moreover, who uses the centralized exchange, why should he use the bitcoin mixer because he has already given his data to the exchanger through KYC verification. Still, if someone needs to mix then I will not mention any obstacle here but since when funds are withdrawn from the centralized exchange, the exchange's hot wallet is shown as the withdrawal address, so I don't think mixing is needed here.

Ojima-ojo

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Quote from: rat03gopoh on April 08, 2023, 04:11:48 AM

I don't feel the need for it for my situation, all the bitcoins I own will be tied to my local exchange eventually, while they can issue any "suspect" bitcoins from the mixer process at any time. I haven't tried any other fiat withdrawal solutions that are faster than local exchanges, so I have no choice at this point.

Your situation is not different from that of most users in the industry because every of our cryptocurrency transactions is eventually tied to our bank account and if you don't have any criminal charges against you there will be nothing to be scared of even though our local exchange involves a lot of risks since you may not know the user at the other end and what there have been involving in, I believe the best practice is to use a cryptocurrency-friendly bank for your crypto transaction if you are from a region where Bitcoin or any other cryptocurrency are not legal tenders.

The risk of getting an account flagged is higher when you are dealing with direct back to cryptocurrency exchange, but of you use a p2p service, one will be a bit safer since the p2p user already knows and have knowledge on cryptocurrency transaction and if there is any governments restrictions there will also be guided not to implicates the other party or their own accounts.

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Quote from: Jawhead999 on April 08, 2023, 04:52:20 AM

If you bought the coins from a centralized exchange, it's really stupid if you mix your coins because the exchanges already know who are you and they will restrict your account until you answered several questions about the coins you have mixed.

Is there any documented case of this? I've never heard of exchange freezing accounts because someone uses mixers to send money from the wallet they own. If you use a mixer or tainted coins to deposit, then this one is common. As far as I know, most exchanges are only concerned about incoming deposits since they need to practice KYC/AML or whatever regulations they need to obey (or use). Even if their users are funding hackers, they are free from legal obligations as long as they don't accept transactions related to those services.

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It was not necessary but if we care about our privacy, then have to do it. Fees don't matter anyway as long as we are paying for our welfare especially if we are buying a huge amount of Bitcoin as it better anticipates the possible interest of these hackers and makes our wallet untraceable by them.
We know these people are just roaming around and targetting whale's wallets, so it was best to keep our address out of their site as we are not even sure that some exchanges have also participated in this kind of game.

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If you bought the coins from a centralized exchange, it's really stupid if you mix your coins because the exchanges already know who are you and they will restrict your account until you answered several questions about the coins you have mixed.

If you bought the coins from a decentralized exchange or no KYC P2P sites, it's really depends on your choice. If you want to achieve a good privacy, obviously you need to mix your coins. But you need to find a way how to cash out your coins without link it with a centralized exchange.

Topic: is it necessary to mix Bitcoin that you bought from an exchange? - page 2. (Read 436 times)