BitMix brings back anonymity in crypto transactions

BitMix at the moment extends support to Bitcoin, Dash, and Litecoin. BitMix also supports Clearnet, Tor, and NoJS (without JavaScript) version

Anonymity is one of the key characteristics of cryptocurrency transactions. With KYC, AML and other procedures in place, major identity problems have risen while converting crypto to fiat and back. Customer identity is checked at every step and with this, the identity is no longer a secret. The Bitcoin community is aware of this, turns to ‘mixing services’ as a reliable solution.

Cryptocurrency mixer is a term that is used to basically facilitate spending, storing and sharing cryptocurrencies; they also help keep the transaction data completely private. BitMix is one such cryptocurrency mixer. Among all such platforms out there, BitMix stands out as it is legitimate and affordable.

BitMix simply takes the customer’s bitcoin, mixes it with other deposits, and gives the same amount of bitcoin in return to the customer, This reduced bitcoin tracking, and also assures anonymity, which is the basic feature of bitcoin transactions.

The working of BitMix

  1. BitMix offers multi-language support:

    BitMix offers multi-language support and thus, users can choose from a wide array of languages like English, Russian, Hindi, Portuguese, Chinese, Korean, Indonesian, German, Dutch, and even Polish.
  2. Extends supports to Bitcoin, Dash, and Litecoin

    BitMix at the moment extends support to Bitcoin, Dash, and Litecoin.
  3. BitMix also supports Clearnet, Tor, and NoJS (without JavaScript) version

    Clearnet, Tor, and NoJS without JavaScript, helps users follow the precautions and enter the wallet address to which mixed crypto coins should come.
  4. Minimal amount for mixing: 0.005 BTC or 0.015 LTC

    Customers can choose their preferred mixing settings and deposit on BitMix.Biz from 0.005 BTC or 0.015 LTC. This helps get to the highest level of Bitcoin anonymity.
  5. Facilitates instant transfer

    BitMix facilitates instant transfers although sometimes it might take longer than usual depending on the amount of BTC a user is mixing.
  6. Complete anonymity

    BitMix offers complete anonymity to its customers. Users can delete the data by themselves after the mixing transaction has been confirmed. BitMix also asks for very minimum information from its users. hard drive encryption and never stores any logs.
  7. BitMix has a custom fee of 0.4-4%

    BitMix deducts a small fee of 0.4% – 4% for mining and 0.0005BTC for address output covering up any transaction charges incurred by the miners.
  8. A code that locks users’ previous coins

    After the first exchange, the user will receive a special code. The code ensures the user never receives their own coins anytime in the future.
  9. BitMix also supports a minimal amount of 0.1 BTC or 1 LT

    The firm allows users to receive more than one back transaction to their wallet. If not for this option, users would get just one backward transaction with clear coins, but if the service is enabled, they will receive two or more transactions per output address. This makes blockchain analysis as hard as possible.
  10. Flexible settings: Manual and Auto-adjust

    The settings can be adjusted to get maximum mixing performance
  11. Partner programs and API

    Invite other users to use the BitMix mixer and earn money on it. If you have your own commercial site, use the API code on it and increase the loyalty of clients by providing them with secure payments on the service.
  12. BitMix provides its customers with a Letter of Guarantee

    BitMix provides its customers with a letter of guarantee. When BitMix provides them with a digitally-signed confirmation saying that the address has genuinely been generated by the server and this letter is always signed from the BitMix main bitcoin account.

Additionally, BitMix also has prepared pre-mixed bitcoins and with that in place, all the user has to do is just fill in the form and send the required amount of coins to the provided address. This use of pre-mixed and pre-cleared crypto coins is the reason the mixing starts as soon as you click on the ‘start mixing’ button. The mixed coins will be sent back to their respective customers automatically.

Conclusion

The main principle of any Bitcoin Mixer is similar on a large scale, but choosing the right one becomes a task. Choosing BitMix provides customers with a high level of Bitcoin anonymity along with affordable rates. Transactions can be secured on BitMix just by following a simple couple of steps.

Refer to this video to learn more about working on BitMix.

Disclaimer: This a paid post, and should not be treated as news/advice.

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How Can Blockchain Be Implemented in the Life Sciences Ecosystem?

Blockchain erupted into public discourse as the distributed ledger technology that acts as the foundation of the digital currency Bitcoin. Fundamentally …

Blockchain erupted into public discourse as the distributed ledger technology that acts as the foundation of the digital currency Bitcoin. Fundamentally, a blockchain is a growing, real-time list of electronic records, with each block unit containing a timestamp, information about the previous block in the chain and data. The blockchain architecture is therefore resistant to the modification of data or its provenance. Fintech quickly recognized the potential of blockchain, with multiple use cases now implemented in areas such as financial transactions and service/product life cycles. For the life sciences industry, blockchain has the potential to enhance cross-industry partnerships, integrity and trust built on consensus, interoperability, tracing, and tracking of tangible and intangible entities in many service and product pipelines.

A recent report published by PreScouter reviewed three broad areas of blockchain deployment in the healthcare, biopharmaceutical, and medical technology sectors as well as the challenges these sectors need to overcome for wider adoption. The report also enumerates developing use cases of blockchain, from proof-of-concept to real-world large-scale deployments, and identifies first movers/early adopters of blockchain, including key collaborations, across the pharma, biotech and healthcare industries.

Challenges to wider blockchain adoption in the life sciences

Within the life sciences sector, blockchain use cases are complex to implement, and the rapidly changing landscape of blockchain technology also presents a challenge for companies seeking to adopt.“Blockchain has great potential to improve upon various activities within the life sciences sector, although it still has a number of challenges when it comes to adoption,” says Dr. Charles Wright, co-author and PreScouter Technical Director for the healthcare and life sciences industry. The consensus opinion is that changing the mindset of private, public and political leadership for adopting blockchain technology and the requisite change in management is the single greatest hurdle facing blockchain deployment, adds Dr. Wright.



As the technology matures, experts believe that mainstream adoption will be rapid. It is predicted that the value added by blockchains will grow to $176 billion by 2025 including non-financial uses in the life sciences, according to Gartner. Even with blockchain adoption gaining traction, PreScouter identifies 10 key challenges to wider adoption of the technology (seen in figure below).


Figure: Main Challenges to Adoption of Blockchain in Healthcare. Source: PreScouter.



The three life science fields impacted by blockchain:

The PreScouter report identifies drug development and supply chain management, clinical trials management and patient-centric usage as three areas with the most potential for blockchain adoption and impact.

Drug development and supply chain management

In the areas of drug manufacturing and supply chain management, blockchain can be very effective for ensuring integrity. Provenance and tracking of compounds are two key areas that are under the purview of authorities such as the FDA, with oversight through the Drug Supply Chain Security Act. Blockchain can provide immutable batch records of active pharmaceutical ingredients (APIs) in the manufacturing process and easy reporting systems for adverse events and drug batch recall.



Current processes that permit drug provenance and supply chain tracking are fragmented due to data silos and can lead to human errors as well as fraud. One example of blockchain implementation by a public-private collaboration is that between the FDA and IBM. The collaboration is using blockchain to identify, track, and trace prescription medicines and vaccines distributed throughout the country. Another example is the MediLedger Project that brings together a consortium of drug manufacturers and distributors to track/trace drug batches and improve drug supply chain management using internet-of-things (IoT) principles.

Clinical trials management

The PreScouter report also highlights that blockchain technology is impacting the complex processes integrated into the design, implementation and management of clinical trials. Clinical trials have many stakeholders, including patients/study subjects, study sponsors, drug/medical device providers, clinical investigators, healthcare professionals like physicians and nurses and various government regulatory bodies.



Sensitive data, including patients’ health records and a clinical trial’s outcomes, must remain private and secure. The trial protocol itself must be immutable and transparent. However, the entire process has to be conducted transparently for all stakeholders with protocols strictly adhered to. Moreover, secure communication between stakeholders from different professions and multiple clinical trial sites can be inefficient and can easily compromise protected health information.

Clinical trials therefore are perfect for blockchain technology, which allows for immutability, scalability and traceability of records with varied data access permissive levels. A blockchain could help manage patient consent, maintain trial protocols, track patient samples as well as ensure secure communications between trial sites. An initiative by Boehringer Ingelheim (BI) and IBM in Canada, where BI will manage its clinical trials on blockchain technology provided by IBM, was recently inked in 2019.

The company Triall, with its technology partner Sphereon, is developing applications for improving auditability and operational efficiency in clinical trials. The consortium’s Verial application, a clinical document management solution, is being used in a Phase II clinical trial and is touted as the world’s first clinical trial in production on a blockchain.

Patient-centric usage

Finally, PreScouter highlights the potential impact of blockchain technology on activities that surround a patient, which can be termed patient-centric blockchain usage. These use cases are varied and include implementation of “smart contracts” for patient consent and ownership management of health data, patient record management across siloed healthcare data landscapes, prescription medicine management, patient claims and billings management, data security for medical/wearable technology as well as deployment in personalized medicine.



Blockchain implementation has achieved the most traction in patient-centric usage as seen by the number of early collaborations that are underway. A leader in blockchain implementation in Europe is Guardtime, which collaborates with Estonian Health authorities and the National Health Service in the UK for tracking and managing patient consent to use of their health data. Another application is the Prescrypt project, spearheaded by Deloitte in the Netherlands, which blockchains a patient’s drug prescriptions for secure communication, usage tracking and analysis by healthcare professionals.

The takeaway

The blockchain implementation in the life sciences is gaining traction and the authors of the report identify that the key challenge to blockchain adoption is non-technical and non-regulatory. It is rather changing the mindset of private, public and political leadership for adopting blockchain technology. However, they provide a positive outlook for the implementation of blockchain in the healthcare space in the near future. Dr. Rakesh Joshi, a co-author of the report, believes that, “as the technology matures and early use cases emerge to help mitigate risks, more mainstream adoption is to be expected within the next 5 years, which will enable blockchain technology to bear its fruits in the life sciences ecosystem.

Rakesh, one of PreScouter’s advanced degree researchers, is a life sciences professional with a passion for data-driven analytics and discovery. He earned his PhD is Biochemistry from Purdue University. Currently, he is enrolled in the Schulich School of Business at York University diving deeper into machine learning/artificial intelligence and technology-driven strategic planning & management.

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CDC and WHO’s Coronavirus data, visualised from a blockchain

“Healthcare and public health is a key area where Distributed Ledger Technologies (DLT) can provide computational trust, and serve as a source of …

CoronavirusAcoer, developer of blockchain-enabled applications, is helping its healthcare and life sciences clients to easily track and visualize the ongoing Coronavirus outbreak. It will do this using its HashLog data visualisation engine which uses the Hedera Hashgraph blockchain.

There is a growing supply of data about the virus, but the information is not necessarily easy to visualize, consume, or extract in a simple way,” said Jim Nasr, CEO of Acoer. “With HashLog our objective is to make data collection automated, and data visualization rich, dynamic, and intuitive. Particularly with my own public health background and tenure at the CDC, we are also huge believers that supporting public health is an incredibly important mission and as much as we can do, it is our responsibility to innovate to enhance it.

Jim Nasr, CEO of Acoer
Jim Nasr, CEO of Acoer

Coronavirus and a blockchain

Hedera Hashgraph is an enterprise-grade public ledger. The Coronavirus HashLog dashboard enables researchers, scientists and journalists to understand the spread of the virus and trends over time. To do this it holds a wide set of public data, including data from:

  • the Center for Disease Control (CDC)
  • the World Health Organization (WHO).

HashLog will provide real-time visualisation of Coronavirus data and trends including:

  • confirmed cases
  • deaths and recoveries per hundred infections
  • trends over time
  • interactive views – with dynamic sort and filtering capabilities
  • the ability to download or extract directly from those visualisations.

Healthcare and public health is a key area where Distributed Ledger Technologies (DLT) can provide computational trust, and serve as a source of truth for multiple parties to work from, delivering consistent, factual information across distributed communities,” said Mance Harmon, CEO of Hedera Hashgraph. “Acoer’s work to make this Coronavirus data so easy to visualize and understand is a great example of this, and we commend them for this innovative use of DLT for the public good.

Mance Harmon
Mance Harmon

Acoer

Acoer builds blockchain-enabled applications. These seek to ensure computational trust, transparency and auditable data by providing a secure and tamper-proof environment.

HashLog is a data collection and visualisation tool. It includes three sub-projects:

  • Health Data Explorer – a platform to support and improve medicolegal death investigation
  • Knowledge Seeker – a data analytics dashboard about clinical trials, dementia or mortality data
  • Ledger Explorer – this is a transaction explorer and analytics platform for Hedera Hashgraph which uses decentralised ledger technology (DLT or blockchain).

Coronavirus

Enterprise Times: what does this mean

While the initial significance of the new Coronavirus infection was not fully appreciated, its rapid growth in Hubei province and then its spread through China and the wider world has driven a need for tools. This is what Acoer, with HashLog brings, broadening the information base.

From a blockchain perspective the HashLog/Hedera Hashgroup combination adds to the credibility of digital ledger technology. That the service is free for use is an added confirmation.

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JPMorgan Chase Mulling Merging Its Quorum Blockchain with ConsenSys

Major U.S.-based bank JPMorgan Chase & Co. is mulling merging its blockchain unit Quorum with Brooklyn-based distributed ledger technology …
Reading Time: 2minutesbyAisshwarya TiwarionFebruary 12, 2020&nbspBlockchain

Major U.S.-based bank JPMorgan Chase & Co. is mulling merging its blockchain unit Quorum with Brooklyn-based distributed ledger technology (DLT) startup ConsenSys, Reutersreports, February 11, 2020.

JPMorgan Contemplating Merging Blockchain Unit

According to a recent Reuters report, banking titan JPMorgan Chase & Co. is all set to merge its DLT unit Quorum with blockchain startup ConsenSys. Per sources close to the matter, the high-profile deal is likely to be formally announced within the next six months. Notably, the exact financial details of the deal are still unclear, sources close to the matter told Reuters.

The sources added that, at present, approximately 25 people work for Quorum globally. They added that it is also unclear currently whether the employees will join ConsenSys after the business transaction.

For the uninitiated, JPMorgan launched its blockchain-based cross-border payment solution in March 2018 as an independent project. The internal blockchain network was built by JPMorgan using the Ethereum network.

Quorum is reportedly being used by JPMorgan as a tool to run the Interbank Information Network – JPMorgan-headed payments network that currently involves more than 300 banks across the globe.

The bank had also suggested last year that it would be leveraging the Quorum blockchain to issue its own digital token dubbed JPMorgan Coin. At the time, the banking behemoth had mulled launching its own digital token to make instantaneous payments using DLT.

No Change to Quorum Brand

One of the persons close to the matter said that the merger with ConsenSys would have no impact on the IIN and various other JPMorgan projects running on Quorum. The source added that JPMorgan has been considering spinning off Quorum for close to two years. The bank had evaluated options including setting up an open-source foundation, creating a new startup or merging it with another firm.

The source further added that being an open-source software development platform, Quorum’s code is free and may be modified and redistributed. Post the merger, the bank will continue to maintain the Quorum brand.

In similar news, BTCManagerreported in September 2019 how British retail and commercial bank Lloyds Bank had joined forces with fintech startup Komgo to leverage DLT for its trade finance operations.

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What’s Next for Crypto Crime in 2020?

As the crypto market grows, there is an increased focus on a crime carried out using digital currencies. In the last few years, cryptocurrencies have …

As the crypto market grows, there is an increased focus on a crime carried out using digital currencies. In the last few years, cryptocurrencies have broken out of the ‘currency of the criminals’ mold and been widely adopted. Eighteen percent of all Americans and 35 percent of all millennial Americans have invested in crypto in 2019 alone.

With VCs being widely traded, big names like Amazon, eBay, Ali Express, Walmart, and Target have begun accepting Bitcoin payments. Financial institutions are also getting involved: 2019 saw a whole host of mainstream commercial entities (including JP Morgan Chase) diversify their portfolios and respond to shifting clientele needs by investing in crypto and blockchain projects.

Moon ExtensionMoon Extension

(The Moon Extension allows users to pay for shopping on several online retail and e-commerce websites through Bitcoin. Source:Moon)

Nevertheless, VCs’ decentralized and semi-anonymous nature makes it an appealing option for illicit transactions. Wide-spread adoption of cryptocurrencies by criminals has unfortunately impacted the overall reputation of crypto.

Firms like Chainalysis and CipherTrace are working to provide governments, law enforcement agencies, financial institutions, businesses, and the public with a crypto monitoring service and the forensic tools necessary to track crypto and cyber-related crimes.

Reports by such agencies help us get a better grasp of the true extent of crime carried out using cryptocurrencies. Their supervision and analytical services can determine criminal activity and, when shared with law enforcement, help stop criminals from preying on the vulnerable.

The Current State of Crypto Crime

Although illicit crypto activities increased in 2019 compared to prior years, they made up a mere 1.1 percent (just under $12.5 billion) of all cryptocurrency-related activities.

total currency sent and receivetotal currency sent and receive

(Source:Chainalysis)

The Chainalysis 2020 Crypto Crime report found that crypto crime is very similar to white-collar crime. Much like white-collar executives defrauding people through sophisticated Ponzi schemes, most illicit crypto activity originates from a small (yet formidable) group of criminals that are elite hackers.

The biggest threat of crypto crime is scams. Since people believe that crypto holds a ‘get rich quick’ potential, they are often swayed by big promises of fraudulent coin projects.

total cryptocurrency transactiontotal cryptocurrency transaction

(Source:Chainalysis)

For example, the PlusToken scam that came to light late last year specifically targeted vulnerable sections of the population (like the elderly) by marketing specifically to them. The victims had hardly any knowledge of how crypto worked – most had to be counseled through the process of creating wallets – and were naturally unable to spot that the project was a rip-off.

Other areas of crime using cryptocurrency include terrorism financing, stolen funds, sanctions, ransomware, darknet markets, and child abuse material.

What comes next?

The growth of illicit crypto activities last year indicates that crime using VCs will continue to flourish in 2020. Since tracking and traceability services are becoming increasingly prevalent and are succeeding in determining crypto crimes and their perpetrators, criminals are likely to focus on adopting means that obfuscate their activities.

Keeping this in mind, we can expect to see the following crypto crime trends this year:

  1. Search for Non-custodial Mixers

Cryptocurrency mixers are anonymity tools that mainly convert transactions of non-private coins into private ones through coin shuffling. Thus, they cloak the potentially identifiable cryptocurrency funds with others, making it difficult to track the source of the transaction.

As Bextmixer, a $200 million custodial crypto mixing service, was shut down by Europol in May 2019, it seems likely that criminals will look for alternative services with CoinJoin functionalities – like the Wasabi wallet.

Wasabi offers trustless coin shufflingWasabi offers trustless coin shuffling

(Source:Wasabi)

Wasabi offers trustless coin shuffling by using Chauman CoinJoins over the Tor network for anonymity:

make your bitcoin fungiblemake your bitcoin fungible

(Source:Wasabi)

Despite claims that Bestmixer was involved in money laundering and illegal financing, many in the crypto community believe that shutting down crypto mixing services is a gross overreach that could set a dangerous precedent against privacy.

For instance, internet security mogul stated:

Bitcoin mixers are now being targeted. Anonymity itself is slowly being considered a crime. The word “Privacy” will soon mean “Criminal Intent”.https://t.co/BN9eM3yozb

— John McAfee (@officialmcafee) May 24, 2019

  1. Chain Hopping for Data Obfuscation

In addition to non-custodial mixers, crypto criminals may also adopt chain-hopping to obscure their transaction data. Chain-hopping is the process of exchanging one type of cryptocurrency with another – multiple times, rapidly, and typically at low KYC protocol exchanges so that funds cannot be easily traced to their origin.

  1. A rise in Privacy Coins

Additionally, as we have already seen in 2020, it is highly likely that privacy coins (like Monero and ZCash) will continue to grow and attract users for their near-total anonymity feature. Privacy coins protect data by concealing almost all transaction details such as names, wallet addresses, and the amount transferred.

wasabiwasabi

(Source:Monero)

Many nations are already concerned about such cryptos. Financial regulators in France and Japan have called for banning Altcoins that aim to bypass identification procedures by design. Chinese blockchain ventures are prohibited from implementing any anonymity-enhancing attributes on their platforms.

  1. Increased Adoption of Anonymous P2P Exchanges

Lastly, we can expect to see increased adoption of decentralized peer-to-peer exchange platforms, which allow users to trade crypto without the platform acting as a facilitating third-party. Consequently, platforms such as Bisq are likely to grow.

Increased Adoption of P2P ExchangesIncreased Adoption of P2P Exchanges

(Source:Bisq)

Need for Sensible Regulation

According to Chainalysis, much of the prevalent crypto crime can be prevented if regulators were to work in sync with crypto exchanges. Building on the framework of consumer protection laws, regulators must strive to form better-informed regulations as well as better enforcement mechanisms. Law enforcement agencies need to evolve and adapt to the new, technically-adept criminals and equip themselves with essential tools and resources to minimize crypto crime in the future.

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