Bitcoin: its characteristics and place in the world economy

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The cryptocurrency bitcoin appeared in 2009. It was introduced to the world by Satoshi Nakamoto. Bitcoins do not belong to any state and are not controlled by anyone. It is a decentralized system, the data of which is stored on the computers of the users themselves.

It is extracted, like all other cryptocurrencies, by mining using complex mathematical calculations. Millions of computers around the world, both ordinary Internet users and those who have set up a serious business by building mining farms, are constantly working on this process. Its result is a continuous chain of blocks, each of which stores the latest data on mutual settlements between users. And the main features of virtual currency are:

  • anonymity;
  • transparency of transactions;
  • lack of control by regulators;
  • does not have an owner who sets its own rules;
  • fraud protection – transactions can no longer be changed.

What is a bitcoin mixer and why should we use it?

Some participants of the system use the blockchain to receive illegal payments and thus evade taxes. Nevertheless, even if bitcoins are obtained honestly, many users fear for their safety due to the imperfect anonymity of this system. Anyone can get data about the transactions history, find out their exact amount and date, and even get information about the wallet where the cryptocurrency is stored now.

Keeping cryptocurrency transactions anonymous is not easy. Very often you have to sacrifice the reliability of transfers and pay “predatory” commissions. However, some services combine efficiency and simplicity. One of these is the Bitcoin blender BitMix https://bitmix.biz/en. A service like this takes coins from different users and puts them on its own balance, and then a special algorithm mixes gained bitcoins. After this operation, the cryptocurrency is transferred to the clients’ wallets again.

So, the easiest way to blend your coins is to run them through one of the mixing services. BitMix is doing its best to guarantee your privacy in the cryptocurrency ecosystem.

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