Demand for Cryptocoin Mixing Rises Significantly During COVID-19

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Demand for Cryptocoin Mixing Rises Significantly During COVID-19
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Since the start of the global health crisis, demand for anonymous mixing or tumbling of Bitcoin and other cryptocurrencies has risen at an almost unprecedented rate. That’s according to leading Bitcoin exchange and mixer CryptMixer, which has noted rapidly growing activity across its platform over the last 12 months. As a result, CryptMixer – which has been offering a consistent, reliable service to users for the past five years – has extended its supported currencies from six to 33, including Ethereum, USDT and Monero.

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Rise In The Demand For Mixing Bitcoin And Cryptocurrencies

The rise in demand comes as investors seek alternative opportunities following increased volatility in the stock market as a direct result of the pandemic. The BBC reports that Bitcoin hit a three-year high in 2020 of $17,000 - or £12,800 - thanks to growing interest from investors, but also notes ‘concerns about the fraudulent trading in cryptocurrencies following a succession of high profile hacks’. CryptMixer aims to reduce risks through its mixing service quickly and easily by selecting cryptocurrency pairs to exchange and boost anonymity.

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The rising demand for CryptMixer’s tumbling service over the past year has seen the platform become one of the fastest growing cryptocurrency exchanges and mixers to date, with a 500,000+ customer transaction volume.

Mark Sheppard, CEO of CryptMixer, said, “As both investment in cryptocurrency and concerns regarding data security have increased during the pandemic, we understand just how important it is for users to be able to act quickly, safeguarding themselves while developing new business opportunities. That’s why we’ve decided to support even more cryptocurrencies, without boosting our fees or inconveniencing our users in any way. Despite our growth, we’re still guaranteeing low service fees, and providing unrivalled customer service to support our users in every way.”

Ensuring Complete Anonymity

While Bitcoin has long been thought of as being anonymous, it is still possible for hackers using advanced technologies to gain access to private or personal information during transactions. Mixing and tumbling services, such as those offered by CryptMixer, can be used to exchange coins from across various transactions to protect user identity and ensure complete anonymity.

The service works by obscuring the transaction pathway to mask any connection between user information and the cryptocurrency they use by exchanging coins with other users of the platform. This ensures that any transaction trails are eradicated, greatly reducing the risk of identity theft.

The CryptMixer service is available to anyone, regardless of location, with no Know Your Customer (KYC) or Anti Money Laundering (AM)L restrictions. Exchanges can be made for a low 0.05% fee, with affiliate links providing publishers with 50% commission on any exchange undertaken using that link.

To find out more about CryptMixer, visit https://cryptmixer.com


About

CryptMixer is a Bitcoin mixing service (also known as a tumbler or blender), as well as a cryptocurrency exchange that is centered around the idea of protecting digital assets. It works by mixing cryptocurrency with those in the platform’s reserves to ensure private transactions that can’t be traced. Whether mixing crypto or exchanging it for another currency, CryptMixer makes BTCs unidentifiable, reducing the opportunity for crypto-hackers and security agencies to keep track of financial activities and crypto transactions.

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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver

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