If you are already familiar with coin mixing, then you probably know that this platform is pretty much similar with hiding your IP address by bouncing off various communication signals. This basically means that if you are using your computer in one part of the world, your address may be coming from other parts, as well. Similarly, a bitcoin mixer will make any transaction that you have with crypto coins become difficult to trace. To help you decide, here are some of the advantages and disadvantages of bitcoin mixing that you ought to know now.
Advantages of Coin Mixers
The main benefit of a bitcoin mixer is the fact that it can create a definite security and protection to your cryptocurrency transactions. If you constantly use huge amounts of crypto coins every day, it is recommended that you enhance your anonymity with a coin mixer once and for all. Peer to peer private crypto transactions can be utilized more when the privacy and security are enhanced. Since the government is pretty observant with the way crypto coins are dealt with to the point of meddling, many believe that coin mixing is one way of preventing that.
Disadvantages of Coin Mixers
The ultimate and probably the biggest disadvantage of using a coin mixer is the fact that criminals and money laundering individuals can also easily hide their transactions away from the prying eyes of the police and other people involved. However, with the continued development in the technology of tracking criminals, it is being hoped that the law enforcement will eventually find ways to catch these laundering platforms. Additionally, a coin mixing mechanism can be pretty expensive especially when it involves larger amounts of transactions. For most people, increased privacy is still worth it, though.
The cryptocurrency industry has been plagued with controversy and issues since crypto transactions started. The good thing about this is that technology also continues to adapt to the various needs of the people. There are some people who agrees that this coin mixing tool is one great way of increasing privacy and protecting the interest of those who deal with virtual coins. But, there are also some who believe that criminals can easily get away with their illegal means through this, as well. If you are keen on protecting your privacy more than anything else, then it’s time that you weigh the pros and cons and see what would suit you the best once and for all.