There is an even bigger focus on privacy while using Bitcoin than ever before. Albeit mainstream media seems to think cryptocurrency is anonymous, it is far from it. With the blockchain broadcasting transactions in real-time, tracking money has never been more transparent. But some users are flocking to mixing services, as they provide more privacy and anonymity than ever before.
A Bitcoin Mixing Service Is Always A Security Risk
It is not difficult to see the appeal of a Bitcoin mixer, in fairness. These services make trackable currency untraceable, by scrambling up network inputs and outputs. For Internet criminals, a Bitcoin mixing service is a perfect tool to get “clean money” after obtaining funds through an illegal transaction.
But regular users are also taking a liking to these services, as they provide more privacy. Bitcoin is, by default, not privacy-centric by any means. Pseudonymity is often confused with anonymity by the media, but they’re two entirely different things. Pseudonymity is not privacy either, which is why people seem to like these mixing services that much.