Bitcoin was born with the intention of having a currency free from the control of banks and governments. However, Bitcoin and most other cryptocurrencies are transparent and can be subject to analysis techniques that destroy users’ privacy. To avoid this type of surveillance, PenguinX has developed a Bitcoin mixer that uses artificial intelligence to protect the privacy of Bitcoiners around the world.
Privacy in the Digital Age
Bitcoin is neither completely anonymous nor completely transparent. Bitcoin’s privacy lies in a gray area that depends solely on user domesticity. Depending on the level of experience and the tools used, the traceability of transactions can be increased or reduced. Consequently, experienced users will be able to obtain a high level of privacy, while less experienced users will be satisfied with less sophisticated use.
The problem, however, lies in the fact that many of those who use Bitcoin believe that the cryptocurrency is anonymous by design. This misconception usually leads to superficial use of the asset and leaves traces that can lead back to the identity of the users, although there is typically no mapping between users’ cryptographic key pairs and their real-world identities. However, privacy is a fundamental human right especially in places where people live under authoritarian governments, and fortunately, there are people and companies that continue to develop tools to protect people’s privacy in the digital age.
PenguinX Makes Bitcoin Private
As mentioned above, Bitcoin works with an unprecedented level of transparency that most people are not used to dealing with. All Bitcoin transactions are public, traceable, and permanently stored in the Bitcoin network. In the early years of Bitcoin, this concept was not yet widespread and therefore cryptocurrency was often used for illegal acts thinking that the transactions were really untraceable. Over the years and the development of the industry, however, several companies were born that exploit the transparency of transactions to analyze every movement recorded on the blockchain and potentially obtain detailed information on who exchanges what and with whom.
This type of analysis can go so far as to trace the identity of the users. In order to counteract this type of activity, there are several methods but the most used remains that of Bitcoin mixers such as that of PenguinX, the first artificial intelligence-based blender. As the name implies, PenguinX works by mixing coins with those in their cryptocurrency reserves to ensure private transactions without a trace.
How It Works?
In four simple steps, PenguinX allows you to make your bitcoins fungible again. The first step is to select the cryptocurrency you want to mix. The service currently works with Bitcoin, Litecoin and Bitcoin Cash and will soon integrate Ethereum. After selecting the asset, you must enter the receiving address to which the mixed coins will be sent. The third step is to execute the transaction to the PenguinX address and the final step is only waiting for the “clean” coins.
PenguinX uses two pools systems where one pool only receives funds and the other only sends. In addition, thanks to the use of artificial intelligence, the coins are sent immediately after mixing and the transaction data/logs are not stored, this ensures that the assets received are usable as after mixing session is completed. These features, together with bullet-proof server connection, make the coins mixed through PenguinX not traceable by blockchain analysis firms.
Finally, to make the service even more complete, PenguinX does not require any data to access mixing. There is no login or registration form, which makes the experience even more immediate and secure. Clearly, getting this level of privacy isn’t free. The minimum commission for the PenguinX mixing service is 0.5% plus 0.0002 BTC for address, attaching in a circuit of payment. You can adjust the size of the commission yourself (depending on the complexity of mixing).
Conclusion
PenguinX is offering a fundamental service that improves the fungibility of bitcoin and counteracts surveillance services. To think that mixing is used exclusively for criminal activities is wrong and without foundation. There are many more honest people who need this type of solution who currently live under authoritarian regimes and who find it difficult to communicate or exchange money.
” Not everyone who mixes crypto currency is a criminal, some people simply crave for privacy to that extent ” – by Clerk, PenguinX CEO.
If you want to know more about PenguinX, check here:
TOR Link – 5c5b4vuillc72gzy.onion
Email – [email protected]
Telegram – @penguinxmixer
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