What are bitcoin mixers/tumblers and how often are they being used?

in bitmixer •  7 years ago 

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How many people and How big are the amounts of funds that are transferred through them?

Virtualcurrency mixer/Tumbler/ BitMixer* is a service that mixes potentially tainted coins with other coins with the intention to complicate the trail leading back to the original source of funds. Mixers are often advertised as a service to improve the anonymity of popular cryptocurrencies, however, they have also been used by black markets and some criminal elements. The most popular tumblers use Bitcoin, Ethereum and Litecoin.

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In traditional financial systems, the equivalent would be moving funds through banks located in countries with strict bank-secrecy laws, such as the Caribbean or Panama offshore banks. Digital currency tumblers usually take a fee of the total coins mixed ranging from around 1-3%. Some of the most popular tumblers are: https://bitlaunder.com https://coinmixer.net https://bitmixer.io* https://cryptomixer.io

From the total volume of over 75,000,000 USD in Bitcoins traded each day on exchanges we can estimate that about 10% of the original funds are hidden through various mixers. So they’re in frequent feature among a percentage of users and the total market cap around 7,500,000 USD daily. Noticing that the fee may be 2%, there’s around 150,000 USD in revenue for their operators each day across the entire market.

As an example you can check the latest donations to Bitmixer* with Coinfirm’s platform: https://coinfirm.io/bitcoin/am... This content above is an excerpt of a larger report prepared by Coinfirm.

*Bitmixer owners lately realised that Bitcoin and anonymity don't go together as well and thus decided to terminate their operation.

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