Digital privacy is a right that everyone is entitled to. Thanks to the provision of bitcoin mixers, you can claim that entitlement by shuffling your coins and emerging with untainted cryptocurrency whose origins have been obfuscated.
Before You Do Mix, Know the Basics:
Just as using Tor doesn’t give you total internet anonymity, bitcoin mixing alone doesn’t grant you auto- privacy.
It helps, but only when used in conjunction with other privacy enhancing techniques, like not using exchanges that enforce KYC(Know Your Customer), and not recombining your freshly mixed UTXOs, therefore undoing all your work. The following mixing services are not exactly a silver bullet for privacy. When used as their devs recommend, however, they can significantly enhance the fungibility of your coins.
Over $40 million of BCH has been mixed through Cashshuffle, which is compatible with wallets such as Electron Cash. There’s also plans for a Tor-integrated version of the service, known as Cashfusion, which will further diminish the ability for blockchain forensics firms to easily profile BCH users.
Most noncustodial BTC and BCH mixers are based on implementations of Coinjoin, a trustless method for combining bitcoin payments from multiple users into a single transaction, thus masking their origin.
Cashshuffle is based on Coinjoin, and so are the two most popular wallet-integrated BTC mixers – Whirlpool and Wasabi.
The former is developed by Samourai Wallet, and enables users of the noncustodial wallet to mix their UTXOs with others through selecting from one of three pools of varying sizes: 0.01, 0.05, and 0.5 BTC. If you have One BTC to mix, for example, select the 0.5 BTC pool and your UXTOs will be sent through in two cycles, until all of your coins have been cleaned.
The Whirlpool fee remains the same whether you are mixing one coin or ten, making Samourai’s Whirlpool Coinjoin implementation cost-effective. It’s also really fast.Whirlpool promises to remove deterministic links that blockchain forensics firms use to correlate onchain transactions.
Samourai and Wasabi are engaged in a dispute over whose mixing service provides greater anonymity. Samourai appears to now have the upper hand at present, but that does not mean you should write off Wasabi – it’s an excellent noncustodial BTC wallet for the privacy-conscious, and its integrated Chaumian Coinjoin mixing service is always improving. The Plustoken scammers famously tried to wash thousands of BTC through Wasabi and failed due to the size of their transactions, which dwarfed those of all other users combined.
For regular users seeking to mix nominal amounts of BTC, greater anonymity and less scrutiny should be assured, making Wasabi ideal for everyday use.
Whether you’re planning to use a custodial or noncustodial bitcoin mixer, do your due diligence, read some reviews, and familiarize yourself with its workings.
Then, after successfully mixing your first set of UTXOs, make it a point of habitually repeating the exercise with new coins that come into your possession.