Swixer: Sentinel’s Swap Mixer for Exchanging Tokens & Coins Privately
With the recent changes in the cryptocurrency regulation, many people are interested in becoming more anonymous when they use tokens popular like Bitcoin. While Monero and Zcash offer full anonymity for the users, some want the option to convert between many different currencies on the fly.
What Is Swixer?
Swixer was created to solve common issues that plague coin mixers like their lack of trust or anonymity. The company intends to solve these issues by allowing the exchange of tokens in a way that is 100% anonymous. This product was developed by the Sentil team and its main use is to allow online crypto transfers and token conversions easily.
How Does Swixer Work?
While a 100% new product, Swixer uses a somewhat common idea. This new mixer could be compared with ShapeShift or Changelly but that you would not be a totally fair and clear comparison because it also has some of its own uses that are, in fact, very distinct. One of the main features of Swixer is to use cross-chain swaps.
These swaps can be made between the Ethereum network and other chains. These other blockchain networks have to be anonymous, though, for you to be able to use them. At the moment, both PIVX and BNB can be exchanged using the technology of this product. The product does not require you to log in so you can use it, this way, you can keep your anonymity.
By using the network, the users will receive the best possible rate estimate and will have to pay a 0.2% transaction fee that will be used to pay the operational costs of the conversion system.
US users are forbidden to use this product… but the company won’t do anything to stop them. You should know that you can be breaking the law if you decide to use the product, so think well before using it if you are a resident in the United States.
The Swixer Verdict
While still very limited, Swixer looks like a product with plenty to offer. This happens because there are not many mixers in the market that focus on the anonymity aspect like this one and most of the times you need to use centralized exchanges to be able to use the tokens. Because of this, Swixer seems like something that might have a lot of potential in the future.