More Privacy With Crypto Mixers? - Anthropic Financial Advisors
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More Privacy With Crypto Mixers?

More Privacy With Crypto Mixers?

Cryptocurrencies have exploded in popularity for a variety of reasons, from Bitcoin, to Litecoin, or Ethereum. There are a wide number of reasons why these cryptocurrencies are increasing in popularity.

One reason is that they are not tied to the number of dollars that are out there and they will fluctuate accordingly as other currencies print money and become inflated. Secondly, their popularity and increased acceptance from vendors and others mark their importance in the world. Many see the cryptocurrencies increasing over time and determine that it makes for an fairly effective investment alternative that can provide the chance to profit and grow rich over a period of time. Finally, and perhaps more importantly, the cryptocurrencies have the ability to be anonymous if the holder of the cryptocurrency chooses to do so.

Why anonymity is important with a cryptocurrency

There are a number of reasons why people are looking to use a cryptocurrency to be anonymous. A cryptocurrency is often used to hide illicitly obtained funds, such as money raised for illegal things such as prostitution, the sale of drugs or other illicit items, or to launder money obtain from a variety of sources. A cryptocurrency is also used for tax anonymity and can be therefore a valuable tool for those who are looking to reduce their tax bills as much as they humanely can. Further, a cryptocurrency can be easy to transfer anonymously to pay for things that you don’t want others to know that you are going to purchase and can therefore convey some unique purchase power that will appreciate over time.

Breaking Cryptocurrency into smaller amounts

Many cryptocurrencies have increased in value to such an extent that they cannot be used to purchase smaller parts without breaking them into fractions of themselves. For example, one single Bitcoin can be used to purchase many brands of cars. In order to use Bitcoin as an effective cryptocurrency the currency needs to be broken apart into disparate amounts. Breaking apart a cryptocurrency can help to disguise it and convey some privacy to the user. This is easy to do effectively with a cryptocurrency tumbler.

What is a cryptocurrency tumbler?

A tumbler bitcoin is an online machine that will break apart a cryptocurrency into fractions and then put them back together into a whole currency. Doing so will convey some notable advantages particularly in that it makes it difficult to track where the cryptocurrency came from and how it was obtained or used in the past. Since an cryptocurrency can be used for both legal and illegal purchases, using an cryptocurrency tumbler will help to mask any illegal activity and make it challenging to determine if the holder was guilty of some form of wrongdoing in the past, making it easier to avoid authorities.