Bitcoin Exchanges , a "Free" alternative to mixers ?

[Wind_FURY]

The problem with centralized entities is the authorities could force them to release information they need to trace the transactions of the target. So be careful if you think you are safe and anonymous by using the exchanges to "mix" your coins. Not even Bitcoin mixers can be fully trusted because the authorities can do the same to them.

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[Kakmakr]

I would not throw the FREE label around, when it comes to exchanges. They have fees too, and sometimes these fees are much higher that Mixer services. Also, some exchanges are operated by incompetent people with poor security, as we have seen with many exchanges being hacked over the years.

How many Mixer services do you know, that have been hacked?

[OmegaStarScream]

You can consider exchanges a cheaper alternative, but not free. They charge transaction fees right?
Aside from that, using exchanges does not satisfy the need of "anonymizing" your coins. Because exchanges require you to provide your identity information.

that's the saddest truth because you needed to provide private info to exchange in order for you to use their service in full and it is not really safe or use as a mixers for your bitcoin mate.

I'm speaking  from an experience when I say that CoinsBank didn't ask me for any real information's (at least not for the moment) as I didn't ask for the Visa card or wanted to rise limits and I'm not trading fiat , BTC coming in and going out only.

[MyBTT]

You can consider exchanges a cheaper alternative, but not free. They charge transaction fees right?
Aside from that, using exchanges does not satisfy the need of "anonymizing" your coins. Because exchanges require you to provide your identity information.

that's the saddest truth because you needed to provide private info to exchange in order for you to use their service in full and it is not really safe or use as a mixers for your bitcoin mate.

I'm speaking  from an experience when I say that CoinsBank didn't ask me for any real information's (at least not for the moment) as I didn't ask for the Visa card or wanted to rise limits and I'm not trading fiat , BTC coming in and going out only.

No popular exchange asks you for your ID unless you are depositing Fiat or withdrawing into Fiat. Anything related to fiat you will have to verify, because that's usually the local law. But since there are no laws against cryptocurrencies, you can trade it for another cryptocoin or Fiat credit without limitations.

[Carlsen]

An exchange can always have financial problems you do not know of.
Or even being hacked, just at the moment where you deposit your money there.
And they charge fees for every transaction and withdrawl.
A bitmixer just sends the coins around, at least as far as I know.
I see a much lower risk in using a bitmixer than in using an exchange.

[CraigWrightBTC]

I think more be anonymous using bitcoin mixing services are like bitmixer or cryptomixer, because they don't asking about verification when use their service, it is different with markets who ask about our indentity.

[LoyceV]

Short answer: yes

Long answer: mixers (say they) don't log transactions. Exchanges log everything. If you've provided your real identity to the exchange, you make it easier to find you instead of making it harder.
I guess it depends on who you're trying to hide from. If it's law enforcement, they're likely to get information anyway (assuming they can find which address belongs to which exchange). Then again, if you go through several exchanges in several countries, and add a few online casinos to your chain, it takes a lot of effort to track you.

[Pursuer]

well, mixing coins has kind of a big definition. it is not just taint analysis and not being able to know where the coins ended up.

yes for regular users it is possible to do it but only if you trust the exchange service enough to deposit and withdraw there because even 1 minute of deposit can be risky on exchanges that are getting hacked left and right.

but for some, who don't want anybody to be able to track them it is not a good idea to use an exchange for mixing because the exchange service is obligated to keep logs of all the transactions so it can easily be tracked.

[iv4n]

Guess this can be done with little fees and transferring money into altcoins then in other exchanger into bitcoins again.
Probably even that can be followed, but if its true that someone can follow coins from beginning to the end then all stolen founs from the past would be found. Well nobody found them and hackers are still free. Lets ask them how and where they mixed stolen coins. They would give us best answer.

[PaulPogba8]

I was really wondering If exchanges could be considered as a free alternative for Mixers like Bitmixer ? Mixers make transactions confusing to whoever is trying to track you , and I guess It's the same thing for exchanges as you don't own your address but there are transactions coming to and going from your address.

I was looking to my address at CoinsBank (AKA bit-x) and I couldn't find much about the addresses I was withdrawing to and there is also transactions that I didn't make in the first place . So yeah , could exchanges be an alternative ? (at least a cheaper/free one)?

It seems right, because your withdrawals from exchanges are transferred from exchange's hot/cold wallet, so daily transactions are a lot, people can't trace your withdraw, at least they can't know your bitcoin address to another wallet.

[Amadues]

you can use exchange as free mixers also in this way:

send btc --- exchange for ltc/doge --- withdraw this coins in a new address.

Then send this coins to another (or the same exchange) and you can get back your btc !

Probably you loss a bit because there is a couple of passage but I think this is also a fair solution

[BTCLovingDude]

you can use exchange as free mixers also in this way:
send btc --- exchange for ltc/doge --- withdraw this coins in a new address.
Then send this coins to another (or the same exchange) and you can get back your btc !
Probably you loss a bit because there is a couple of passage but I think this is also a fair solution

* if you are doing something illegal for example gained the coins through a hack then doing all that is pointless because authorities can contact both exchanges and ask then to release your information (the addresses, your IP and a lot more)

* if you are not doing anything illegal then there is no point of doing all that. just do a simple deposit and withdrawal and you are good to go.

[amacar2]

I think exchangers (legal/registered one) should co-ordinate with government or laws in time of investigation and at that time they may supply your personal details to them on which they can find address they are looking for in withdraw list of the member and it will be easy for them to catch the guy.

And in worst scenario if you keep your coins in exchanger than in case of hack like bitfinex all of the coins you have will be lost.

[1Referee]

you can use exchange as free mixers also in this way:

send btc --- exchange for ltc/doge --- withdraw this coins in a new address.

Then send this coins to another (or the same exchange) and you can get back your btc !

Probably you loss a bit because there is a couple of passage but I think this is also a fair solution

This doesn't change the fact that an exchange still knows where your coins are going. With a mixer they delete all things linked to your transaction as soon as your clean coins are received by you. That's the main benefit compared to using an exchange or other service as a mixer.

[Red-Apple]

I was really wondering If exchanges could be considered as a free alternative for Mixers like Bitmixer ? Mixers make transactions confusing to whoever is trying to track you , and I guess It's the same thing for exchanges as you don't own your address but there are transactions coming to and going from your address.

I was looking to my address at CoinsBank (AKA bit-x) and I couldn't find much about the addresses I was withdrawing to and there is also transactions that I didn't make in the first place . So yeah , could exchanges be an alternative ? (at least a cheaper/free one)?

it depends on what you want to achieve from mixing your coins. if you want to prevent other bitcoin users to find out about your cold storage for example or find out how much bitcoin you own then yes it is a good and cheap way of doing it.

but for other purposes that may be shady coins then you have to use mixers.

[deisik]

I am already using exchanges as alternative of mixers, with my exchange and with my xapo account I do not need any bitcoin mixer system, I think with that service of exchange we do not need any other mixer.

If I'm not mistaken, Coinbase (another online wallet like Xapo) creates a new Bitcoin address for every transaction you make. So it would be hard to follow Coinbase transactions as well...

Unless you stick to using the same address, of course

[Doamader]

Well the only issue is with mixers no one will trace your coins overs the wallets, as this is their service, with exchanges i do believe if some problem happens they can and will trace the wallets and find the coins. But i never used mixers and i dont need them why to hide my balance being it 1 btc or even 1000 bitcoins makes no sense for me.

[deisik]

you can use exchange as free mixers also in this way:

send btc --- exchange for ltc/doge --- withdraw this coins in a new address.

Then send this coins to another (or the same exchange) and you can get back your btc !

Probably you loss a bit because there is a couple of passage but I think this is also a fair solution

This doesn't change the fact that an exchange still knows where your coins are going. With a mixer they delete all things linked to your transaction as soon as your clean coins are received by you. That's the main benefit compared to using an exchange or other service as a mixer.

I'm afraid this is not so. There was a discussion here about this matter some time ago, and it was proven that mixers do keep logs of the transactions they process. For example, if you have a dispute with a mixer over some issue, the legit one will have to prove that they received funds from you and did actually send them back to you (you guess what it means in respect to the matter in question)...

The consensus was that no matter what the mixers might say and want you to believe, you'd still better not hope that they "delete all things linked to your transaction"

[virtualkeybuyer]

You are right, exchanges work like a good mixer, so I do not need any mixer and I totally rely on exchanges for mixing my bitcoins on addresses and I did not face any issue in doing that.

[btvGainer]

I am already using exchanges as alternative of mixers, with my exchange and with my xapo account I do not need any bitcoin mixer system, I think with that service of exchange we do not need any other mixer.

But exchanges keep your record which defeats the purpose of mixing.What do you mix your coins for? to keep them anonymous obviously but do you think your identity keeps anonymous when you use exchanges?