BitMix is a bitcoin mixing service found online at BitMix.biz. Find out if it’s a legitimate mixer today in our review.
What is BitMix?
BitMix is a bitcoin mixing service that helps protect your bitcoin. Like other bitcoin mixing services, BitMix will take your bitcoin, mix it with other deposits, and give you the same amount of bitcoin in return. It’s designed to reduce bitcoin tracking, “clean” your bitcoin, and help ensure anonymity on the transparent bitcoin network.
When you search for “BitMix” online, you’ll find two different websites. One is BitMix.biz, which is what we’re talking about today. The other is BitMix.in, which also claims to offer mixing services, but seems a little less legitimate.
In any case, BitMix has a straightforward website. Let’s take a closer look at how it works.
How Does BitMix Work?
BitMix works the same way as any bitcoin mixer service. The platform promises to anonymize your bitcoin transactions. On the bitcoin network, your transactions are entirely traceable. Someone can view your bitcoin wallet, then trace all transactions made by that bitcoin wallet over time – including who you sent your coins to, how much money you have, and where you’re spending your bitcoins.
That may not seem like a big deal because your wallet is still anonymous. However, if you even once tie your personal data to your wallet (like post your email address online with your wallet address), then someone could trace your bitcoin wallet to your identity. This could put you at risk of being physically harmed by criminals, targeted by tax authorities, or investigated by other law enforcement – among other unwanted problems.
If you’ve ever used a bitcoin exchange that requires KYC/AML verification (i.e. you uploaded a picture of your ID), then your personal information is tied to any bitcoin you purchased over that exchange.
A bitcoin mixer service like BitMix will take your bitcoin, then give you different bitcoin in return. The platform collects everyone’s bitcoin deposits, mixes them up into one central account, and then returns the bitcoins to users. You get the same amount of bitcoin (minus a fee), but different bitcoin from different parts of the blockchain.
With BitMix, you get a letter of guarantee. That letter of guarantee is proof of BitMix’s obligations. When they give you their bitcoin address, they’ll provide a digitally-signed confirmation that this address has genuinely been generated by the server. That letter is always signed from the BitMix main bitcoin account (that account is publicly available on BitMix.biz).
The platform also uses a special 12 symbol “code” to ensure you get your bitcoin back every time you use the service. You save that code. That code also 100% excludes you from receiving your own coins anytime in the future.
BitMix keeps no logs or personally identifying information regarding your transaction.
How to Use BitMix
BitMix lets you mix your coins through a simple online form. Some of the key features of the platform include:
Fully Anonymous: After your order is invalidated, BitMix will remove any information about your transactions.
Instant Transfer: Money is instantly transferred to your address after your transaction is confirmed.
Partner Program: BitMix pays users when they refer others to the platform. They’ll pay for every transaction made by an invited user.
BitMix charges a mining fee of 0.8 to 3%. You can set the fee manually when you’re mixing your bitcoins. The address fee is 0.0015 BTC per output address to cover any transaction fees charged by miners.
BitMix’s mixing process takes up to 24 hours, although it’s usually “almost instant” depending on the current service load.
You’re required to mix a minimum of 0.01 BTC and a maximum of 50 BTC. Transactions outside this range will not be accepted.
Obviously, the bitcoin network isn’t anonymous – despite what the average person outside the cryptocurrency industry might think. Your transactions and bitcoin wallets are viewable across the bitcoin network. A bitcoin can be tracked between individuals. Your account may be frozen because your bitcoin was used to pay for a black market transaction 5 transactions prior. Bitcoin mixer services like BitMix help anonymize your bitcoin transactions. You send bitcoin to BitMix, and they send you different bitcoins – but the same amount of bitcoin – in return.
Ultimately, there are plenty of bitcoin mixers, bitcoin tumblers, and bitcoin laundry services available online today, and BitMix is one option that seems to be legitimate. You can use the service online today at BitMix.biz.