The primary purpose of a Bitcoin mixing service is to provide additional anonymity and privacy to its users. Bitcloak is a new mixing service trying to make a name for itself, and it looks like some things have changed since its initial launch in February of 2016.
Albeit we were initially skeptical regarding the potential of Bitcloak, it appears there is a lot more under the hood than anticipated. The platform generates a PGP signed message with order details, providing verifiable proof to the user, as well as a way for the platform operators to help the user. Additionally, this also reduces the chance of phishing attempts, as fake websites would generate an invalid message.
Bitcloak imposes particular transaction limits as well, ranging between 0.028 and 25 Bitcoin per order. Running multiple transactions is certainly possible, although it is advised to use the same value for every order. However, Bitclock can deal with a 10% variance for bulk orders. Do keep in mind there is a random fee around the 2$ range for every order as well.
What makes Bitcloak stand out from other Bitcoin mixers is how they use amounts predictions, javascript checks, and the PGP implementation. Moreover, their service seems to be a lot faster compared to competing services. Moreover, the platform also lets users send funds to “someone else” with an exact amount payment if needed.
But Bitcloak puts in some security measures as well. Accessing the platform requires users to disable Javascript in the browser, which is a good thing. Albeit Javascript is commonly used, it is also one of the most insecure forms of web technology available today. Failing to turn off this functionality results in error pages on the platform.
Putting one’s trust in a Bitcoin mixer is difficult, as there is always a risk of coins getting stuck. Bitcloak negates this risk, as there are scripts running performance checks every few minutes. With input addresses only valid for twelve hours, there is hardly any way for prying eyes to keep track of the transactions. All in all, it takes users fifteen minutes to receive “clean” coins, which is incredibly fast.
There are a lot of features to check out, and Deep Dot Web posted a thorough article on the Bitcloak platform. For all of the security measures put in place, it is still the responsibility of the end user to trust these types of services or not. Bitcoin mixers are finding their rightful place in the cryptocurrency world, as they offer a certain appeal in particular situations.
Source: Deep Dot Web
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
Ethereum stumbles as Bitcoin surges past $97K, Solana eyes new highs, and JetBolt’s presale shakes…
The crypto market is a buzz with promising presales as 2024 draws the curtains. With…
The Cheems token on the Binance Smart Chain (BSC) is gaining significant momentum, surging by…
The value of $LESTER plummeted by 40% in the past 24 hours, leaving its market…
In a bizarre turn of events, a young live-streamer known as Xiaohaige created the memecoin…
The crypto whale known as "convexcuck.eth" has made waves in the DeFi world, spending $2…
