is it necessary to mix Bitcoin that you bought from an exchange?

[Ojima-ojo]

In the quest to remain anonymous and maintain privacy without a trace remain our utmost aim in the cryptocurrency industry, what do you think about coins that you bought from the exchange in this discussion our focus will be on a decentralized exchange.

Do you think it is a necessity to use a Bitcoin mixer to mix your bought Bitcoin before finally depositing them in your own wallet?

What is the risk associated with Bitcoin trading most especially when the source of the Bitcoin is unknown since you using it as an exchange?

[Oshosondy]

If you think you do not have privacy or after you exchange the bitcoin that your privacy is a little bit compromised, I will advice you to mix the coin.

Another reason is that you can be thinking that the coin is tainted, you may want to use a mixer to mix it. There is nothing bad about that.

[Maus0728]

It depends on your preferences!

Bitcoin is a public ledger, and if having privacy is important to you, then using a mixer is a no-brainer. In fact, "privacy" is your right, and it's no one's goddamn business to snitch on what an individual is doing with their bitcoin.

Also, I don't think exchanges would easily freeze your account if you accidentally exchange tainted coins from their exchange, if that's what you mean by "risks.".

[Beparanf]

You shouldn’t use CEX to begin with if your goal is an optimum privacy for your asset. There’s already a lot of decentralized P2P exchange that will make your crypto more anonymous than buying on exchange to save fee for mixing your Bitcoin.

But the obvious answer on your question is mixing the Bitcoin because this is the only way to become anonymous. I’m always mixing my coins for the sole purpose of removing the gambling activities track on my Bitcoin before I will put on CEX for cashout to fiat.

[so98nn]

That depends on many things like whether you want freshly baked coins or you just want to have whatever coins that you posses. There are only few possibility that you will be getting bitcoins which were previously used in criminal activities or some money laundering stuff. I mean that’s the only reason sometimes peeps are stressing a lot on mixers. The more time give to mixer the more freshly minted coins you will have. Now you decide whether you want those bitcoins fresh for the future storage or just want to assume they might be all fine as it is.

[NeuroticFish]

In the quest to remain anonymous and maintain privacy without a trace remain our utmost aim in the cryptocurrency industry, what do you think about coins that you bought from the exchange in this discussion our focus will be on a decentralized exchange.

A proper decentralized exchange doesn't need your ID. Of course, since you had to send fiat in a way or another ... somebody might have enough info to link the coins to your identity.
In most cases it's not a big issue, but the rule is that if you are concerned about privacy issues, whenever you're in doubt, better mix.

My statements may look a bit biased, but I think that you'll see the truth in them.

[maydna]

If you are willing to pay the fee, you can use a bitcoin mixer before depositing it in your wallet. But maybe you can also save the funds in a new wallet specifically for storing funds from the exchange. This will depend on your convenience because some merchants don't use a bitcoin mixer to mix the bitcoins they buy from an exchange and send them directly to another wallet.

But some feel they need to hide their wallet address and use a bitcoin mixer. Maybe it would be safer, according to them. I do not use these methods but directly send it to a new wallet.

[Zaguru12]

Also, I don't think exchanges would easily freeze your account if you accidentally exchange tainted coins from their exchange, if that's what you mean by "risks.".

I am not sure for decentralized exchanges but there are centralized exchanges that do not allow mixed bitcoins. They don’t allow them to either or leave.

In the quest to remain anonymous and maintain privacy without a trace remain our utmost aim in the cryptocurrency industry, what do you think about coins that you bought from the exchange in this discussion our focus will be on a decentralized exchange.

The sole purpose of bitcoin is for privacy and anonymity so once you are skeptical about a particular coins sent to you then it is best advised to use mixers. I would also recommend mixing those coins because even if the exchange is decentralized there is no way of guaranteeing the source of the bitcoin

[teosanru]

In the quest to remain anonymous and maintain privacy without a trace remain our utmost aim in the cryptocurrency industry, what do you think about coins that you bought from the exchange in this discussion our focus will be on a decentralized exchange.

Do you think it is a necessity to use a Bitcoin mixer to mix your bought Bitcoin before finally depositing them in your own wallet?

What is the risk associated with Bitcoin trading most especially when the source of the Bitcoin is unknown since you using it as an exchange?

I don't really think there is any such necessity. I think the coins exchanged on such exchanges itself get sort of mixed so you don't need to do that much of mixing here. The problem is what if the exchange supplies information to the authorities but on the same side if you see even mixers can provide the info to the authorities we even recently saw chipmixer being stalled by the interpol so obviously there is nothing like absolutely anonymous Cryptocurrency these days.

[Ojima-ojo]

A proper decentralized exchange doesn't need your ID. Of course, since you had to send fiat in a way or another ... somebody might have enough info to link the coins to your identity.
In most cases it's not a big issue, but the rule is that if you are concerned about privacy issues, whenever you're in doubt, better mix.

My statements may look a bit biased, but I think that you'll see the truth in them.

I don't see anything biased in your statement and as a matter of truth, you nailed the entire point because I have high doubt on the privacy of my identity since I make deposit with fiat into the exchange even though it decentralized per say but then their is no 100% privacy any more since I interface with the bank, and I am concern about the destination from which I get the Bitcoin I am buying on the exchange.

That have raise my doubt about my privacy, and with what you stated above the best way to quench my doubt is by mixing the coins and have it transferred to a cold wallet for long term storage.

[Ryker1]

^[snip]
Do you think it is a necessity to use a Bitcoin mixer to mix your bought Bitcoin before finally depositing them in your own wallet?

If you care about your privacy --then it is yes.
Because there is a chance that you may link to a scammer's bitcoin address and link to your personal hardware wallet for example.
Bitcoin mixing services will enhance your privacy and this can make it more difficult for others to trace the movement of your bitcoin where is the final destination from where you bought it.

^[snip]
What is the risk associated with Bitcoin trading most especially when the source of the Bitcoin is unknown since you using it as an exchange?

There is no risk if you stay on a decentralized exchange or any platform.
But whether we like it or not, sometimes CEX is useful for quickly converting our bitcoin into fiat and it could be risky to your side if you will mix them up. But if you are going to ask me, I am willing to pay a small amount to use mixing service just to have these four important storing bitcoin, ^{[Privacy, Security, Anonymity, and Traceability]}

[Strongkored]

So far I have never used the Bitcoin mixers service, if the reason for using Mixers by the people who use it is privacy, then is it so important for us to maintain privacy while the Bitcoin results we have are from exchange, not from other activities that may be in our respective countries are prohibited activities such as gambling which indeed there are countries that prohibit these activities. and if privacy is meant to protect our Bitcoin network flow so that it is not tracked by hackers so that it is safe from being hacked, I think it is enough to take good care of our wallet because hackers can only hack wallets whose private keys are exported online, such as storing them in email or online storage. If your Bitcoin from the exchange is small, would you like to see the amount reduced by using mixers for paying transaction fees, if you have a lot of Bitcoin, then it's not a problem.

[irhact]

In the quest to remain anonymous and maintain privacy without a trace remain our utmost aim in the cryptocurrency industry, what do you think about coins that you bought from the exchange in this discussion our focus will be on a decentralized exchange.

Just to be on the safe zone, it'll be a good practice to use a mixer when you buy bitcoins from a decentralized P2P exchanges. Some scammers can be using those platforms to sell stolen or hacked wallet coins and when they're trace to your wallet, you could be charged with a crime you didn't commit for been associated with an address that was used for crime. There's nothing wrong with mixing your coins just to be extra cautious.

The mixers has to be decentralized too as using a centralized mixer wouldn't be safe, Also lets say you bought Bitcoin from a centralized exchange or you got sent Bitcoin from a centralized exchange, you should mix them to increase your privacy as well. Privacy is one of the most important things when investing in Bitcoin.

[mindrust]

In the quest to remain anonymous and maintain privacy without a trace remain our utmost aim in the cryptocurrency industry, what do you think about coins that you bought from the exchange in this discussion our focus will be on a decentralized exchange.

Do you think it is a necessity to use a Bitcoin mixer to mix your bought Bitcoin before finally depositing them in your own wallet?

What is the risk associated with Bitcoin trading most especially when the source of the Bitcoin is unknown since you using it as an exchange?

Depends on the exchange. If it is a known scam exchange, then you might want to do that however... what are you gonna do for your mixed coins? I mean the coins coming from a mixer are also problematic because you don't know if you are getting somebody else's dirty coins.

In my opinion, unless you are one of those people who are into shady shit, you don't need to use mixers at all.

The fact is, if you are using mixers just for the privacy reasons and that's how mixers promote their business btw, providing privacy, you are just getting fooled because they are using your "clean" coins so they can white wash the other "dirty" coins.

So, a person like you, who is just picky about his privacy, feeding the mixer with his clean coins is only scamming himself. You can't even be sure if these mixers aren't logging your info even though they say they don't. They very well may be honeypots for the secret service. I would stay away from any crypto mixer.

[Ojima-ojo]

I don't really think there is any such necessity. I think the coins exchanged on such exchanges itself get sort of mixed so you don't need to do that much of mixing here. The problem is what if the exchange supplies information to the authorities but on the same side if you see even mixers can provide the info to the authorities we even recently saw chipmixer being stalled by Interpol so obviously there is nothing like absolutely anonymous Cryptocurrency these days.

What triggers my question here is because of an incident that happen to someone around my place some time ago, he traded some bitcoin with an unknown scammer on a decentralized exchange got the bitcoin converted into fiat and transferred it to his bank account.

But a few days later his bank account was flagged by the authority and he was ultimately arrested and upon investigation that was when they discovered that the Bitcoin he bought from the exchange in a tented Bitcoin and the proceeds of a scam that have been under investigation.

Now the young trader who is also an undergraduate is forced to face punishment for unknowingly trading with a scammer, we have many of such incidents in the p2p marketplace, so to be at a safe side, one will need to be extra careful by mixing the coins to avoid possible trace and link to your bank account.

[NeuroticFish]

I don't see anything biased in your statement and as a matter of truth, you nailed the entire point

While I do know that I'm right (heh ), let's be honest: we both wear advertising for mixers and this means that for anybody looking at this we may be considered biased, no matter how correct are our statements and how valid are our points. That's why I preferred to just say it.

What triggers my question here is because of an incident that happen to someone around my place some time ago, he traded some bitcoin with an unknown scammer on a decentralized exchange got the bitcoin converted into fiat and transferred it to his bank account.

But a few days later his bank account was flagged by the authority and he was ultimately arrested and upon investigation that was when they discovered that the Bitcoin he bought from the exchange in a tented Bitcoin and the proceeds of a scam that have been under investigation.

Now the young trader who is also an undergraduate is forced to face punishment for unknowingly trading with a scammer, we have many of such incidents in the p2p marketplace, so to be at a safe side, one will need to be extra careful by mixing the coins to avoid possible trace and link to your bank account.

Sad story. I think that one safe approach is to use a completely different bank's services when doing crypto. And it's best if that bank is crypto friendly and has a bit of knowledge on the matter.
I guess that the arresting part is overkill and they don't have anything real for pressing charges, still unpleasant.
On the other hand there are services that don't like mixed coins, which one will have to learn to avoid if he has mixed money (or, actually, even if he didn't mix; those services do deserve a boycott).

[Bananington]

Do you think it is a necessity to use a Bitcoin mixer to mix your bought Bitcoin before finally depositing them in your own wallet?

Use a bitcoin mixer when you want to ensure extra privacy and security.

 If you are conscious of your security and privacy and do not see the exchange you use as hack proof, that is the exchange can be hacked, then mixing your bitcoins is a good choice to avoid any situation that the actual amount of bitcoins you have be known or traced as well as your transaction history too by hackers since they have access to the Blockchain.

[rat03gopoh]

I don't feel the need for it for my situation, all the bitcoins I own will be tied to my local exchange eventually, while they can issue any "suspect" bitcoins from the mixer process at any time. I haven't tried any other fiat withdrawal solutions that are faster than local exchanges, so I have no choice at this point.

[karmamiu]

A proper decentralized exchange doesn't need your ID. Of course, since you had to send fiat in a way or another ... somebody might have enough info to link the coins to your identity.
In most cases it's not a big issue, but the rule is that if you are concerned about privacy issues, whenever you're in doubt, better mix.

My statements may look a bit biased, but I think that you'll see the truth in them.

I don't see anything biased in your statement and as a matter of truth, you nailed the entire point because I have high doubt on the privacy of my identity since I make deposit with fiat into the exchange even though it decentralized per say but then their is no 100% privacy any more since I interface with the bank, and I am concern about the destination from which I get the Bitcoin I am buying on the exchange.

That have raise my doubt about my privacy, and with what you stated above the best way to quench my doubt is by mixing the coins and have it transferred to a cold wallet for long term storage.

That is a pretty good strategy coz mostly banks and custodial wallets offered by localities are sometimes asking you for your personal information, so in the end your privacy is still compromised. But that's only if you have a cold storage since for me, I didn't own one so I guess my personal info is still compromised even if I use mixers and there is a huge tendency that my account will be traced immediately doing something crazy like pretending to be anonymous or they will suspect my account doing illegal activities outside the platform.

[Jawhead999]

If you bought the coins from a centralized exchange, it's really stupid if you mix your coins because the exchanges already know who are you and they will restrict your account until you answered several questions about the coins you have mixed.

If you bought the coins from a decentralized exchange or no KYC P2P sites, it's really depends on your choice. If you want to achieve a good privacy, obviously you need to mix your coins. But you need to find a way how to cash out your coins without link it with a centralized exchange.