Washbit Launders Bitcoins To Fresh Addresses

Bitcoin mixing services are nothing new and there is always a security risk associated with using these centralised services.  However, that is not preventing new players on the market from providing a slight twist on the Bitcoin mixing service.  Washbit officially portrays itself as a Bitcoin laundering service, even though there is no criminal intent to be found.

Washbit – Bitcoin Mixing With A Twist

The process of Bitcoin mixing is elegant in its nature, and many people felt there was no need to further improve the service.  Whenever you send Bitcoin to a mixing service, the transaction will be mixed up with other transactions and funds will be sent to your destination address in a randomised way.  Doing so would obfuscate the blockchain and make transactions nearly untraceable, adding a layer of anonymity on top of the Bitcoin network.

Washbit is a new Bitcoin mixing service, which offers high anonymity and ease-of-use to its customers.  Because Washbit does not log user activity (unlike other mixing services) there is a higher level of anonymity to be achieved.  Internet IP addresses are being monitored by government officials and intelligence agencies all around the world and

Read more ... source: CryptoArticles