Finance

About cryptography and security issues of bitcoin

Bitcoin is a digital currency that gives its users unique opportunities. The value of the main cryptocurrency of the world – bitcoin – continues to grow rapidly, updating records every day.

The bitcoin payment system is characterized by a cryptographic and decentralized ledger. In the beginning, many believed that behind it was the future of the world of finance, but at the same time, Bitcoin opened the gates for the underworld. On the one hand, governments around the world are striving to prohibit end-to-end encryption, on the other hand, Bitcoin anonymity exists.

The government wants to gain access to personal data by court order to successfully counter-terrorism. In this case, the confidentiality and security of the data of law-abiding citizens are sacrificed. It is believed that the anonymity of bitcoin disappears at the time of depositing or withdrawing funds to the wallet. Therefore, financial privacy in the full sense of the word does not exist on the Bitcoin blockchain. In this case, special services should be used to secure users` personal data during transactions.

What is a bitcoin mixer?

Cryptocurrency users are well aware of what a Bitcoin mixer is. This is what prevents the tracking of transactions by breaking the connection between the old and new addresses. With the help of a mixer, funds are sent from one person to another and vice versa, that is, they are mixed. The resource in its content resembles an ordinary kitchen mixer, which mixes several components into a homogeneous mass. To figure out these transactions for a third party will be impossible. Thus, transactions receive complete confidentiality.

So, a bitcoin blender like BitMix https://bitmix.biz/en plays the role of an intermediary in accepting and sending transactions. BitMix offers all the anonymity and protection standards, as well as many useful features. In addition, a bitcoin mixer allows you to mix a wide variety of cryptocurrencies.

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