Cryptocurrency: its mining and protection

The term ‘cryptocurrency’ first began to be discussed in 2011, beginning with the publication of Forbes magazine. Since then, the name has become established and applied to koins (literal coins), which have no expression in the form of paper notes or metal coins. This kind of money exists exclusively in the digital space.

To become the owner of a certain amount of coins, it is enough to connect to the service of their creation, become a member of a single mining network and wait for your earnings. More on that below.

Cryptocurrency mining 

Mining is the extraction of digital currency. Mining involves the application of computer power to the various tasks of forming new blocks of a cryptocurrency network. In the process of mining, the computing power of the equipment, by solving algorithms, mines a coin – a set of encrypted information.

The proof of virtual currency on the network is the blockchain, which is a kind of account, and the crypto-coin itself is a set of encrypted data. This currency is stored in a decentralized manner, distributed across users’ electronic cryptocurrencies.

How to protect your bitcoins

Why protect them at all? After all, everything is already anonymous. 

In practice, this is not quite the case. Any transactions that users carry out are stored in blockchains and are on a public platform. It is quite possible to retrieve information from them. Special services, such as BitMix.Biz, are used for secure and anonymous transactions.

With the service, any transaction can be completed in a short period. There is no need to enter personal data, and no login information is stored at all. You should also not forget about the commission: it is only 0.4% of the transaction. 

You can choose the mixing strength yourself from medium to high. The use of delay also contributes to the anonymization of the transaction. You can choose to remove it or set it up to 70 hours.