Thursday, September 19, 2019

guide

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The best way to obtain new bitcoins is nowadays through the use of Monero.

Not through mixing or coinjoining, which leaves a trails and worse, mix your coin with other people also mixing for maybe very bad reasons. Imagine mixing because you're a good guy but keen on your privacy, and ending up with coins publicly known as robbed on exchange X or from scam Y?

Here is the most private way to obtain "fresh" bitcoins, thanks to the outstanding privacy features of Monero. In fact the entire privacy that you'll get by following this procedure actually comes from Monero.

  • Convert some Bitcoins to Monero. You can do that OTC, on some exchanges such as poloniex.com or on shapeshift.
  • Be sure that there is a high mixin (>= 10) used when you receive your Moneroj. Ideally, transfer them to another Monero wallet of yours, again with a high mixin. Always use a high mixin for all your Monero transactions. At this point, everything you will do with your wealth on the Monero network (and also how much it is) is completely unknown to the entire world.
  • When you need your fresh bitcoins, convert your Moneroj back to Bitcoins. It should be on a different market place/individual/service than the one you used in the other direction. If you want to make a single anonymous Bitcoin purchase instead of converting a stash in advance, use XMRto.

This simple technique is known since there have been several cryptocurrencies with sufficient liquidity, we just jump from blockchain to blockchain to prevent blockchain analysis. The nice trick here is that the Monero blockchain is the most private one available at the moment - far more than the previously existing Bitcoin clones - and it has a decent liquidity that allows real usage.



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