When it comes to keeping your DeFi transactions anonymous, there are a lot of different options to choose from. Should I use crypto mixing services or anonymous coins?
You can use anonymous cryptocurrencies like Dash and Monero, but if you want to simply keep your Ethereum or Bitcoin transactions private, crypto mixing services are perfect for you. Some people even mix their crypto on their own!
In this blog post, we will compare and contrast crypto mixing services with anonymous coins. We will also discuss the pros and cons of each option so that you can make an informed decision about which solution is best for your case. Good reading!
What are crypto mixing services?
First things first. What exactly is a crypto mixing service? Cryptocurrency mixers are also known as crypto tumblers. They work by taking your crypto and mixing it with the crypto of other users in their pool. This way, your coins’ origins are obfuscated, and it becomes much harder to track where they came from or where they are going.
There are many crypto mixing services out there, but one of the most popular ones is mix-bitcoin.net. It has never stopped working and has a loyal customer base.
What are anonymous crypto coins?
On the other hand, we have anonymous crypto coins. These are cryptocurrencies that have been specifically designed with privacy in mind. The most popular ones are Monero and Dash, but you may also have heard of Zcash and Verge.
Unlike Bitcoin and Ether, they use unique features like ring signatures and stealth addresses to make sure that your identity and transaction history remain completely private.
What’s the difference between crypto mixing services and anonymous crypto coins?
The main difference between crypto mixing services and anonymous crypto coins is that crypto mixers can be used with any cryptocurrency, while anonymous crypto coins can only be used with their own blockchain.
This means that if you want to keep your Bitcoin or Ethereum transactions private, you’ll need to use a crypto mixer. But if you’re only interested in keeping your Monero transactions private, for example, then using it as an anonymous crypto coin is enough.
Another difference is that crypto mixers provide more privacy than anonymous crypto coins because they don’t require you to create a new account or wallet or share your personal data. With anonymous crypto coins, you need to create a new account with a service like MyMonero or DashWallet, immediately linking the wallet to your ID.
Crypto mixing services vs Anonymous coins
What are the pros and cons of crypto mixing services?
The main advantage of crypto mixing services is that they’re very easy to use. All you need to do is send your crypto to the mixer’s address, and they will take care of the rest.
Also, as already mentioned, you don’t have to share your personal ID in order to use a crypto mixer. There are a few steps to take before sending your tokens to a mixer to ensure your privacy, but as long as you do everything right, you’ll have no problems mixing your coins.
The main disadvantage of crypto mixing services is that they’re not free. You will need to pay a fee for each transaction you make, which varies from the mixing service provider.
Depending on your mixer, tumbling your crypto tokens can also take a while. This is because the mixer needs to wait for enough users to join the pool before it can start mixing your crypto, so if you’re in a rush, you should choose your mixer very well.
- Read Also: Top 5 Reasons For Mixing Your Crypto
What are the pros and cons of anonymous crypto coins?
The main advantage of anonymous crypto coins is that your transactions are usually very fast and cheap. Fees are known to be low, sometimes free, and you don’t have to wait long to send or receive them in your wallet.
However, there are also disadvantages to retaining value in an anonymous cryptocurrency. As you probably know, the cryptocurrency market is quite volatile, and you may not always want to keep Dash, for example. Bitcoin and Ether are much more stable, and if you want to keep these tokens private, a mixer is your only option.
Should I choose a crypto mixing service or anonymous coins?
The answer to this question really depends on what you’re looking for. If you want the easiest and most private way to keep your crypto transactions private, then you should use a crypto mixer.
However, if you’re only interested in keeping your Dash or Monero transactions private, then using an anonymous crypto coin is enough. In the end, it all comes down to what you’re looking for and what’s most important to you.
If you want to learn more about using crypto mixers to keep your Bitcoin transactions anonymous, make sure to check out our latest blog posts. For mixing BTC with low fees and the most reliable service, visit mix-bitcoin.net. Thanks for reading!