well, i never using mixer service before.
but, based on my knowledge, mixer have more privacy and anatomy after all.
for example : u deposited some btc to binance, then u withdraw ur asset from it.
of course, they have track record about ur transaction,ur data as well.
although they will never share ur history to anyone, but it doesn't make u cant be tracked.
since the history of blockchain can be viewed,and transfer between the exchanges to the users have a simple transaction with original transactions and the final address of the coins.
and the simple explanation about mixer works is attempts to sever the links between your old address and a new address by sending coins from you to other people and coins from them to you with randomizes transaction amounts and sometimes adds time delays to the transactions.
Topic: Why not use Exchange instead of Mixer? - page 3. (Read 780 times)
from what I know, some exchangers are not anonymous. this is because the exchanger requires its users to do KYC. it makes a person's identity no longer a secret. Because of this, the exchanger team might be able to find out what you are doing to your money, and can prevent if something unexpected happens, can even cover the delivery that we do. in contrast to mixers, which are actually used as a pathway to eliminate transaction traces, and difficult to track
So, Mixers provide service of shuffling bitcoins or provide addresses loaded with bitcoins along with private keys. In short, they provide service so to create anonymity between sender's and receiver's address so that no one can trace the transaction.
My question is why not use Exchanges? When we deposit funds on exchange, bitcoins get deposited on exchange's cold wallet. But when we withdraw funds, withdraw gets processed from exchange's hot wallet. So in short, it is very easy to do anonymous transfer by depositing funds on exchange and withdrawing to other addresses. Why to pay 1-3% fees on Mixers when it could be done for much less on Exchanges. Exchanges like Binance charge just 0.0005 BTC to process withdrawals.
My question is why not use Exchanges? When we deposit funds on exchange, bitcoins get deposited on exchange's cold wallet. But when we withdraw funds, withdraw gets processed from exchange's hot wallet. So in short, it is very easy to do anonymous transfer by depositing funds on exchange and withdrawing to other addresses. Why to pay 1-3% fees on Mixers when it could be done for much less on Exchanges. Exchanges like Binance charge just 0.0005 BTC to process withdrawals.
The reason on why most mixers are profitable (and prohibited) are due to the fact that it provides absolute anonymity in the transactions. For example, if you were to use a mixer, the funds will be sent intermittently with necessary intervals to avoid tracking.
Exchanges, on the other hand, require you to fill details about your personal information (basically KYC). Depending on the exchange, some require personal IDs and addresses so you can increase the limits of your account with regard to withdrawal and deposits.
Although both have their corresponding transaction fees, mixers are generally higher in fees but they do provide absolute anonymity if you were to transfer funds from one wallet to another.
There is no full anonymity in this crypto space, including mixer so people who said mixer is to anonymize the transaction is not 100% true. I'm sure the company holds the notes. So the reason why people rather to use mixer than exchange must be in its function, its purpose. Exchange is made for trading and mixer is made for anonymizing your transactions. Have you try to mix your Bitcoin on exchange? Oh your efforts is actually useless because it's not made for it.
So, Mixers provide service of shuffling bitcoins or provide addresses loaded with bitcoins along with private keys. In short, they provide service so to create anonymity between sender's and receiver's address so that no one can trace the transaction.
My question is why not use Exchanges? When we deposit funds on exchange, bitcoins get deposited on exchange's cold wallet. But when we withdraw funds, withdraw gets processed from exchange's hot wallet. So in short, it is very easy to do anonymous transfer by depositing funds on exchange and withdrawing to other addresses. Why to pay 1-3% fees on Mixers when it could be done for much less on Exchanges. Exchanges like Binance charge just 0.0005 BTC to process withdrawals.
You can't use an exchange as a mixer because of the limits set by the exchange. If you will want to increase your limit or remove your limit you will have to verify yourself. This means that you will have to provide identification documents to the exchange. So you can eventually be tracked anyways. As far as I know, in a mixer you don't have to provide kyc stuffs and you also don't have any limits.My question is why not use Exchanges? When we deposit funds on exchange, bitcoins get deposited on exchange's cold wallet. But when we withdraw funds, withdraw gets processed from exchange's hot wallet. So in short, it is very easy to do anonymous transfer by depositing funds on exchange and withdrawing to other addresses. Why to pay 1-3% fees on Mixers when it could be done for much less on Exchanges. Exchanges like Binance charge just 0.0005 BTC to process withdrawals.
it comes down to whom you are trying to hide from when mixing your coins!
for many users it is to prevent any random prying eyes from snooping around in their pocket to know how much bitcoin they own and where they spend it at. and since most of them already have accounts on some exchange site for buying bitcoin or trading altcoins then using that same account for mixing some coins makes a lot of sense.
although it may not sound like it but using mixers is a lot safer than using exchanges! there has never been any cases of a mixer scamming any user ever (there are scam sites calling themselves mixer but that is different) but there has been lots of cases of popular big exchanges scamming their users and robbing them!
Well, if you could use exchanges to shuffle your funds, what would be the point of having a mixer? There's actually been a lot of cases where exchanges have taken or paused a transaction either due to the volume of it, or it being possibly illegal - mixers don't care and wont do this to your funds.
Exchanges will also have/keep your data and it's no way near as safe or anonymous as using a trusted mixer service, for example chipmixer.
Exchanges will also have/keep your data and it's no way near as safe or anonymous as using a trusted mixer service, for example chipmixer.
So, Mixers provide service of shuffling bitcoins or provide addresses loaded with bitcoins along with private keys. In short, they provide service so to create anonymity between sender's and receiver's address so that no one can trace the transaction.
My question is why not use Exchanges? When we deposit funds on exchange, bitcoins get deposited on exchange's cold wallet. But when we withdraw funds, withdraw gets processed from exchange's hot wallet. So in short, it is very easy to do anonymous transfer by depositing funds on exchange and withdrawing to other addresses. Why to pay 1-3% fees on Mixers when it could be done for much less on Exchanges. Exchanges like Binance charge just 0.0005 BTC to process withdrawals.
Yeah, I think the benefits will be the same, but I think the answer is the mixer is more simpler than the exchange site. imagine you have to create an account, verify KYC so that your account can be used for large transactions, and other complicated requirements. Whereas in the mixer, you only need 1 click and your money will go to your wallet from an unknown bitcoin address. My question is why not use Exchanges? When we deposit funds on exchange, bitcoins get deposited on exchange's cold wallet. But when we withdraw funds, withdraw gets processed from exchange's hot wallet. So in short, it is very easy to do anonymous transfer by depositing funds on exchange and withdrawing to other addresses. Why to pay 1-3% fees on Mixers when it could be done for much less on Exchanges. Exchanges like Binance charge just 0.0005 BTC to process withdrawals.
Earlier, it was not mandatory to provide the KYC information to the exchanges. In such cases, it was OK to use them to anonymize your coins rather than using a mixer. But as other users have pointed out, exchanges are not exactly created to add a layer of anonymity to your coins. If someone wants to trace back the cryptocurrency transactions to you, then he will be able to do that. Exchanges maintain logs containing information about the incoming and outgoing transactions. Anyway, now the question no longer arises, because KYC is mandatory for almost all the exchanges. If you want to trade using an exchange, then you need to provide the scanned copy of your passport or the national ID. BTW, if you are really looking for anonymity, then is 1% to 3% fee that high to afford? IMO, it is not.
So, Mixers provide service of shuffling bitcoins or provide addresses loaded with bitcoins along with private keys. In short, they provide service so to create anonymity between sender's and receiver's address so that no one can trace the transaction.
My question is why not use Exchanges? When we deposit funds on exchange, bitcoins get deposited on exchange's cold wallet. But when we withdraw funds, withdraw gets processed from exchange's hot wallet. So in short, it is very easy to do anonymous transfer by depositing funds on exchange and withdrawing to other addresses. Why to pay 1-3% fees on Mixers when it could be done for much less on Exchanges. Exchanges like Binance charge just 0.0005 BTC to process withdrawals.
You can't use an exchange as a mixer because of the limits set by the exchange. If you will want to increase your limit or remove your limit you will have to verify yourself. This means that you will have to provide identification documents to the exchange. So you can eventually be tracked anyways. As far as I know, in a mixer you don't have to provide kyc stuffs and you also don't have any limits.My question is why not use Exchanges? When we deposit funds on exchange, bitcoins get deposited on exchange's cold wallet. But when we withdraw funds, withdraw gets processed from exchange's hot wallet. So in short, it is very easy to do anonymous transfer by depositing funds on exchange and withdrawing to other addresses. Why to pay 1-3% fees on Mixers when it could be done for much less on Exchanges. Exchanges like Binance charge just 0.0005 BTC to process withdrawals.
So, Mixers provide service of shuffling bitcoins or provide addresses loaded with bitcoins along with private keys. In short, they provide service so to create anonymity between sender's and receiver's address so that no one can trace the transaction.
My question is why not use Exchanges? When we deposit funds on exchange, bitcoins get deposited on exchange's cold wallet. But when we withdraw funds, withdraw gets processed from exchange's hot wallet. So in short, it is very easy to do anonymous transfer by depositing funds on exchange and withdrawing to other addresses. Why to pay 1-3% fees on Mixers when it could be done for much less on Exchanges. Exchanges like Binance charge just 0.0005 BTC to process withdrawals.
You can't use an exchange as a mixer because of the limits set by the exchange. If you will want to increase your limit or remove your limit you will have to verify yourself. This means that you will have to provide identification documents to the exchange. So you can eventually be tracked anyways. As far as I know, in a mixer you don't have to provide kyc stuffs and you also don't have any limits. My question is why not use Exchanges? When we deposit funds on exchange, bitcoins get deposited on exchange's cold wallet. But when we withdraw funds, withdraw gets processed from exchange's hot wallet. So in short, it is very easy to do anonymous transfer by depositing funds on exchange and withdrawing to other addresses. Why to pay 1-3% fees on Mixers when it could be done for much less on Exchanges. Exchanges like Binance charge just 0.0005 BTC to process withdrawals.
You can in certain situations use exchange after a mixer to make your coins look more innocent . Let's say a country outlawed mixers and made a regulation that doesn't allow local exchanges to accept coins from mixers, and they are able to detect that coins come from mixers. If you have an access to some foreign exchange that doesn't have your KYC data, you can send your coins there after mixing and withdraw, and then deposit to your local exchange - they shouldn't be able to tell if your coins were at some point mixed, to them it would look like they come from an exchange. Of course they still would be able to ask that exchange directly about your deposits, but chances are their request will be refused.
simple: mixers are created to provide you anonimity, exchanges are not...
Exchanges usually require KYC info, they keep logs of all addresses, ip's, timestamps,... Mixers promise to do none of these things.
Exchanges usually require KYC info, they keep logs of all addresses, ip's, timestamps,... Mixers promise to do none of these things.
Ofcourse I am talking about using exchanges without KYC. Binance allow unverified accounts to make withdrawals upto 2BTC per day which is quite ok.
Binance regularly works with law enforcement agencies and regulators. They also hire blockchain analysis companies like CipherTrace to analyze customer activity. If they flag your inputs or activity as suspicious, they freeze your funds and demand KYC from you.
Mixers don't do any of that.
Exchanges like Binance are fine for things like obfuscating the source of gambling withdrawals. Withdrawing directly from a sportsbook to Coinbase, for example, would put your Coinbase account at risk of closure. It's not against Binance's terms, though, so they're a fine intermediary in this case.
However, I wouldn't risk sending DNM bitcoins or otherwise tainted bitcoins to Binance. That's asking for trouble.
It is not anonymous if you do it on Binance or other exchange and you have done KYC.
The mixers are not doing their job, if I recall correctly there was a thread on this forum where it was described with sources that mixers can be easily cracked with simple analysis.
The mixers are not doing their job, if I recall correctly there was a thread on this forum where it was described with sources that mixers can be easily cracked with simple analysis.
Mixers are just better and this is why they exist and remain popular. It's not even about you being the good or the bad guy. It's good to be safer and if you can do it for a few dollars then why not?
You never know what will happen 2 or 3 years from now? What if exchanges decide they should not serve customers with coins coming from a big hack or scam and will have a software to easily detect coins that aren't mixed? What if one day the police asks you to explain all your transactions because you have stolen coins? I don't know what will happen but mixers aren't a bad thing for the ecosystem.
You never know what will happen 2 or 3 years from now? What if exchanges decide they should not serve customers with coins coming from a big hack or scam and will have a software to easily detect coins that aren't mixed? What if one day the police asks you to explain all your transactions because you have stolen coins? I don't know what will happen but mixers aren't a bad thing for the ecosystem.
BTC is not made to be anonymous, and every service that envolves a third party is also not anonymous as you need to trust the third party (unless the third party can prove that there is absolutely no info retained about the service - not sure if this is feasible)
If you need privacy or anonimity, you need to look for privacy coins... not all of them provide a solid service, as there are also some coins like Dash that envolve third parties... I would check out monero, beam, veil, grin... and so on
If you need privacy or anonimity, you need to look for privacy coins... not all of them provide a solid service, as there are also some coins like Dash that envolve third parties... I would check out monero, beam, veil, grin... and so on
But what will you choose to send and receive Bitcoins with a crypto exchange who has your KYC documents or a Mixer who can do the service for you without even knowing who you are? If you are smart enough and you really want to have the best chance to remain anonymous then you can go with the latter as that is just really your best option right now. Plus if you go with a mixer you won't have the common problems being faces by crypto exchanges when it comes to sending cryptocurrencies on a large amount like your transaction being hold, or certain flags being raise because of an unusual amount.
Exchanges will not protect your anonymity. Even using a casino is a better choice.
At some point you should start thinking if it's worth it. You could use 3 mixers in a row but think of the cost. Only the richest people with the biggest transactions will go this far to protect their anonymity. You also have to trust the mixer enough and there aren't that many trusted mixers to safely shuffle your money between them. Especially if this is big money.
Using 2 or 3 mixers in a chain would decrease your risk even further, especially if you work over tor... As for the trust factor, do you know how many exchanges pulled an exit scam/went bancrupt/got hacked over the last couple of years? Don't trust anybody, that's the main idear...
At some point you should start thinking if it's worth it. You could use 3 mixers in a row but think of the cost. Only the richest people with the biggest transactions will go this far to protect their anonymity. You also have to trust the mixer enough and there aren't that many trusted mixers to safely shuffle your money between them. Especially if this is big money.
Depends on your purpose.
If you want to gamble or buy drugs then obviously an exchange is not going to work. If you just want to make sure no one who has your addresses can trace future transactions, other than the exchange, then you may as well use an exchange. I do it fairly often.
I would only do it with a place I was fully KYC'd on and had plenty of track record. And if you did it constantly they may eventually ask you to bugger off.
If you want to gamble or buy drugs then obviously an exchange is not going to work. If you just want to make sure no one who has your addresses can trace future transactions, other than the exchange, then you may as well use an exchange. I do it fairly often.
I would only do it with a place I was fully KYC'd on and had plenty of track record. And if you did it constantly they may eventually ask you to bugger off.
So, Mixers provide service of shuffling bitcoins or provide addresses loaded with bitcoins along with private keys. In short, they provide service so to create anonymity between sender's and receiver's address so that no one can trace the transaction.
My question is why not use Exchanges? When we deposit funds on exchange, bitcoins get deposited on exchange's cold wallet. But when we withdraw funds, withdraw gets processed from exchange's hot wallet. So in short, it is very easy to do anonymous transfer by depositing funds on exchange and withdrawing to other addresses. Why to pay 1-3% fees on Mixers when it could be done for much less on Exchanges. Exchanges like Binance charge just 0.0005 BTC to process withdrawals.
It all depends on our needs and our capital.My question is why not use Exchanges? When we deposit funds on exchange, bitcoins get deposited on exchange's cold wallet. But when we withdraw funds, withdraw gets processed from exchange's hot wallet. So in short, it is very easy to do anonymous transfer by depositing funds on exchange and withdrawing to other addresses. Why to pay 1-3% fees on Mixers when it could be done for much less on Exchanges. Exchanges like Binance charge just 0.0005 BTC to process withdrawals.
Lets say mixer would just get 1-3% fee from using it while on exchange we would pay some transaction fee us well and if you would only send a small amount then using an exchange would cost you more,
And of course it would be different amount of fee in every exchange.
An exchange without KYC doesn't matter and doesn't really help. It can be easy to find which exchange your address belong to and since they keep your IP, etc... It can be enough to identify you because they will have no problem to snitch and will be very happy to do it. 
Logs are kept a minimum, few days, exchanges store your information for years.
Logs are kept a minimum, few days, exchanges store your information for years.
As far as I remember, BestMixer provided most of the mixing data to Dutch Authorities once they were confiscated by Dutch law.
We cannot rely on mixers too. They are not as anonymous as we think. If big mixers like BestMixer can fall in the hands of authorities then just imagine how anonymous small mixers are.
So it can be easily assumed when interfered by authorities, both exchanges and mixers can't be trusted.
Of course the mixer could be not keeping logs or erasing them after some hours, but the problem remains: How do you know?
If Bestmixer didn't keep logs, then after gov seizure they would find nothing and the only result would be one less company.
But the problem remains: How do YOU know? Who can audit the mixers? They cannot let you inspect the thing. Same can be said of exchanges.
The country where the service operates could simply order them to provide the data or else...
So, Mixers provide service of shuffling bitcoins or provide addresses loaded with bitcoins along with private keys. In short, they provide service so to create anonymity between sender's and receiver's address so that no one can trace the transaction.
My question is why not use Exchanges? When we deposit funds on exchange, bitcoins get deposited on exchange's cold wallet. But when we withdraw funds, withdraw gets processed from exchange's hot wallet. So in short, it is very easy to do anonymous transfer by depositing funds on exchange and withdrawing to other addresses. Why to pay 1-3% fees on Mixers when it could be done for much less on Exchanges. Exchanges like Binance charge just 0.0005 BTC to process withdrawals.
My question is why not use Exchanges? When we deposit funds on exchange, bitcoins get deposited on exchange's cold wallet. But when we withdraw funds, withdraw gets processed from exchange's hot wallet. So in short, it is very easy to do anonymous transfer by depositing funds on exchange and withdrawing to other addresses. Why to pay 1-3% fees on Mixers when it could be done for much less on Exchanges. Exchanges like Binance charge just 0.0005 BTC to process withdrawals.
Choosing between exchanges and mixers depends on your needs such as the level of anonymity you prefer. If you were just an ordinary crypto enthusiast who is not privacy centric and doesn't a need to hide any crypto transaction you might have, then you can choose the service of an exchange, otherwise, you need to use the services of Bitcoin mixers.
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