People can trace your Bitcoin transactions if they know your wallet address. A person could review the blockchain and find the trail of wallet transactions you complete, helping someone understand how you’re spending money with Bitcoin.

In short, Bitcoin isn’t always as anonymous as you wish. But you can anonymize all your transactions with Bitcoin when you use a Bitcoin laundry service. An outside Bitcoin laundry service will assist you by mixing the details in your transactions to create an anonymous report.

STEPS FOR HOW IT WORKS

The process for how to use a Bitcoin laundry to anonymize transactions entails a few steps:

* State the Bitcoin address where the currency you have is located.  Some of the best bitcoin laundry does this.
* Create a new address through an anonymous communication browser. The Tor browser is a popular choice.
* List the new Bitcoin address you want your laundered currency to enter. You can use multiple addresses if you prefer, so long as you create them through the Tor browser.
* Specify when you wish to receive your laundered or “clean” currency. You can request more time for laundering to enhance the anonymity of your transaction.
* The laundry service will take your currency from the original address and move it between many existing addresses. It can move the currency to several addresses, possibly hundreds. The transactions are scheduled at random. The work allows the coins to mix with many other coins in the same blockchain, keeping the data harder to trace.
* After the time period you specify, the laundry service will send the new Bitcoin to you. The Bitcoin will come from an unintelligible trail that hides your identity.

The effort provides a mixed series of coins that will go to your new address. The trail between the original deposit address and the new ones you produce will become too complicated to where anyone can follow the content. The design ensures no one can identify your Bitcoin transactions.

POINTS TO NOTE

A Bitcoin laundry can be useful, but you’ll have to watch for how your laundry service works (as seen on coinmama). There are many aspects to note surrounding the work:

* You will pay a fee for the laundering service. The fee can be up to five percent of the value of the Bitcoin you’re laundering.
* You can use as many target addresses as you wish, plus you can request more time for laundering before receiving your funds. But you would spend more fees if you use more time or addresses.
* A laundry service should ensure your order information isn’t stored on a server. A service should delete any logs surrounding your transaction.
* Laundering is essentially even if you’re using a VPN. While you can hide your IP address and other details through a VPN connection, your Bitcoins could still be traced if you don’t launder them first.
* You’ll need to confirm the transaction at some point to keep things moving forward. It won’t take long to complete this part of the process.

The Bitcoin laundry service you hire will ensure your coins are managed well and that you can receive new ones that are completely anonymous. The effort ensures no one will track your data.

The world of digital currency has been one that brings forward the right kind of returns for your investments. But the market is not all about one particular currency or the other, because there are many that need to be noted. To help you get started on the same, we decided to cover certain vital cryptocurrencies known to be the best for investing in 2020. Hence, go ahead and check it out.

1. Bitcoin

In terms of returns and other solid aspects, Bitcoin has always refined supreme and continues to do so. The digital currency has a market of its own, and investors are all aiming to place their money. But before you do so, you should explore the world of Bitcoin and the many opportunities that it provides. As a result, reading more about Bitcoin investments and understanding all that it stands for will be ideal to progress your investments. In this manner, you can always ensure to get things started on the right note.

2. Litecoin (LTC)

Decoding cryptocurrencies and understanding more about the detailed process that it follows might be challenging as it gets filled with a few complications. But that does not apply for Litecoin as the main aim behind bringing it to the market was to end the complex nature of cryptocurrencies. Founder Charlie Lee came forward with the idea to create the “lite” version of Bitcoin and move ahead to develop a cryptocurrency that could play the role of silver to Bitcoin’s gold. Thanks to that, investing in Litecoin tends to make sense.

3. Ethereum

 

The main goal of Ethereum is to decentralize the internet and replace servers with a worldwide system of nodes. As a result, their goal is slightly different from the rest when it comes to the aspect of decentralization. But since the market seems to be accepting their demands, you can move ahead to make it all count by investing in Ethereum. The kind of popularity that it has generated has managed to get settled with a market cap of around $40 billion, which places it second to Bitcoin.

4. Binance Coin (BNB)

 

Binance is more or less a platform similar to Ethereum but with a different mission. Apart from making a way to buy and sell Binance coins, the decentralized platform also helps users convert other cryptocurrencies from one to another. Due to that, the Binance DEX is known to be the biggest cryptocurrency exchange on the planet in terms of volume. So, choosing to put your money into the same sounds like the ideal plan that will count for the best. Hence, that was our list of the best cryptocurrencies to invest in 2020.