Many believe that Bitcoin and the company are anonymous and untraceable. Of course, the anonymity is higher compared to other payment instruments, but as long as the wallet cannot be linked to your name.
“Who is interested in me?” — you will probably say.
In fact, there are several parties that will be interested in receiving information about the contents of your crypto wallets:
- Law-enforcement authorities
Due to the uncertainty over cryptocurrency regulation, no one knows what will happen tomorrow. It is possible that cryptocurrency will be declared illegal. Who knows.
This includes anyone involved in illegal activities, including cybercriminals who will do their best to gain access to your private keys, passwords and steal your funds.
- Analytical resources
They analyze and collect data on blockchain processes. And where are the guarantees that they do not collect data fromblockchain wallets? In addition, some of them, for example, Chainalysis and CipherTrace, collaborate with the FBI, NSA.
Many cryptocurrency exchanges, in order not to violate the law, remove anonymous coins from the sites. This was the case with Monero (XMR), DASH, ZCash (ZEC), etc.
What can you do to securely exchange cryptocurrency and not be afraid about your data?
Let’s discuss together ..
There are special services, the so-called “mixers”, that mix your cryptocurrency, for example, with the cryptocurrency of other participants. This is done to obfuscate the traces in the transaction history.
Everyone remembers that the blockchain is transparent and anyone can view the history of transfers for each specific address.
Many mixers run in onion, so to use their services, you need to install a Tor browser to access the network.
The principle of working with a mixer is quite simple: you send bitcoins to one of the mixing platforms, pay a commission and, as a rule, get other bitcoins to a new wallet.
- Unreliable mixers
When sending cryptocurrency to an unknown platform, there is a chance that you will not receive it back. Everything needs to be considered.
- Not all mixers have support service
- High commissions
Commissions are charged in different ways. For some, it is fixed, for others -% of the transfer, for others — a fixed rate + percentage of the transfer.
- Presence of minimum thresholds for mixing
For some mixers, the minimum amount in bitcoin can vary from 0.01 BTC and above
Now let’s take a look at the 2nd option, which looks more interesting and secure compared to other tools and services.
Z-Pay payment system
Using the Z-Pay payment system, you can conduct financial transactions with cryptocurrency without losing anonymity.
Built-in cryptocurrency wallet, anonymous Z-Pay cheque, instant cryptocurrency exchange and no commissions for internal transfers.
Z-Pay has been on the market since 2018 and is good for anyone who appreciates privacy and anonymity. No KYC, no binding to a phone number … everything is in the best traditions of Z-Pay.
Let’s analyze the cryptocurrency mixing function and whether everything is so anonymous as it seems at first glance …
Create a mail and in no case indicate personal data.
Register on the website: https://Z-Pay.io/
The procedure is very simple:
1 — create a login;
2 — enteryour mail;
3 — create a password;
4 — enter the verification code, which should come to your mail.
Now you are in your personal account.
Many users will appreciate simple and intuitive interface, list of coins and standard operations that you can perform with your cryptocurrency (replenishment, withdrawal, exchange, etc.)
Let’s start the mixing process.
There is 0.1 BTC on our BTC wallet (address: 1MECNsu7MEyJbMPTCYnZmLAAqu …) and we want to cover up (mix) BTC in such a way as to get the entire amount to a new wallet or option 2: transfer to another cryptocurrency.
Of course, we can directly transfer BTC from one address to another, but in the explorer https://www.blockchain.com/explorer, the transfer from one wallet to another will be visible to everyone. And we don’t want that.
So this is what we do:
Algorithm of actions:
1 — Transferour BTC to Z-Pay
Select bitcoin and click on “top up”
There appears the BTC address, to which we transfer our bitcoin.
We are waiting for 1 confirmation in the network and BTC is already on the Z-Pay wallet.
2 — Next you have to choose:
- You can get BTC
- Exchange for another crypto
If we want to get BTC back, then we create a new bitcoin wallet and just click “Withdraw”
We enter the amount and our new BTC address:
A few simple steps on the Z-Pay platform and we transfer from one BTC address to another and at the same time the addresses are not connected with each other in any way. If your BTC address was followed, now the trace is lost.
It is worth mentioning that using Z-Pay, you can carry out such operations not only with BTC, but also with all major cryptocurrencies.
3 — More anonymity
If you fear for your funds and privacy, then you can use a more cunning move that will guarantee you 100% anonymity.
The algorithm is the same as with BTC, except for the last stage.
As soon as BTC arrived at the Z-Pay personal account, we simply exchange it for another cryptocurrency or split it into several coins.
For example, ETH or XMR.
To do this, click on BTC and select the Exchange tab:
We enter the amount of BTC that we want to exchange and get ETH at the current exchange rate.
Next, we withdraw or exchange the crypt wherever we want.
Thus, we had 0.1 BTC on our wallet, and thanks to Z-Pay, we divided this amount into ETH and XMR and calmly transferred it to other wallets.
Anonymity at the highest level.
Z-Pay is a great tool if you need to mix cryptocurrency.
By the way, if you don’t want to register anywhere, then Z-Pay offers an even more anonymous tool — Z-Pay cheque.