Monday, June 25, 2018

What is Bitcoin Mixer script? Where can you get a good one?

One of the prime feature of Cryptocurrencies was the anonymity it provided for it's holder. Earlier, anyone could buy a cryptocurrency without being asked for their details. This has changed in the recent times and there are tools that could track the movement of these coins and trace them back to the owner. That's where a Bitcoin Mixer script come in (also known as Bitcoin Tumbler script).

What is Bitcoin Mixing or Bitcoin Tumbling?

Bitcoin Mixing is based on the concept of CoinJoin, a coin anonymization strategy where transactions from multiple users are combined together as a single transaction and processed into smaller transactions with a new cryptographic hash (new identity).

Each coin is associated with a hash and the byte size of the coin, they can be recognised easily by potential criminals. People who are tracking these coins would use these information to track the coin. Bitcoin Mixing is the process by which the coins from one wallet are split up into smaller quantities and sent to multiple (two or more) cryptocurrency wallets to make it hard to trace for privacy reasons.

People use third party bitcoin mixer services to carry out the process which enables anonymity.

You can even start your own Bitcoin mixer or bitcoin tumbling service by building one yourself or using a bitcoin mixer script that can help others to tumble their bitcoins.

How can you make money by running a Bitcoin Mixer script based service?

Most services that are already there take between 1.5% to 5% tumbling fee for every tumbling done. Similarly you could price every transaction done in that bracket. This would ensure that you provide a competitive and healthy service to your customers.

The important factor that most service forget about cryptocurrency based services is that very less people trust it, providing a good transparent service will rake in more customers and business over a period of time.

Some important features of Bitcoin Mixer script

Whether you are setting out to build one or setting up a ready made bitcoin mixing script, these are the features you would need to look out for.

  •  Secure & maintain anonymity - The bitcoin mixer script has to secure each transaction with high grade encryption. All the wallet and ledger data that is present with the Mixer service should be encrypted and all the best practises have to be followed to main the anonymity of the user. 
  • Smart Tumbler algorithm- The tumbler algorithm written for this purpose should be efficient and should incorporate practises such as time delay, variable quantity and random match etc.
  • Randomizer - The algorithm should ensure that in the first instance the coins should be sent to another users wallet and later from the other users wallet to the user's second or third wallet.
  • Extendability: Has Robust API layer for building mobile apps and other possible integration into services.
  • Easy to use Interface - An Intuitive self explanatory User Interface is a must as most of the users may not be comfortable with a complex User interface.
  • Auto-Prune - Periodical deletion of the transaction details to maintain anonymity or privacy of users.
Where can you get the best Bitcoin Mixer Script?

  • JoinMarket Bitcoin Mixer Script
 JoinMarket has an Open source bitcoin tumbler script that allows users to safely tumble their bitcons anonymously. Joinmarket's script is a popular option for running a bitcoin mixer service where people further customise it to their liking and make it business ready.

  • Penguin Mixer
The open source bitcoin tumbler script Penguin Mixer is hosted in the darknet and you'd need a tor browser to visit the site (or use tor2web extension to visit and download). There are a lot of services that have been built using the penguin mixer script and it has been around for a while. 

  • OpenTumble
OpenTumble's cryptocurrency tumbler script makes it easy to run a central or your own decentralized coin mixing service. According to the makers of the project, they want it to be of great value to those in countries where it is banned and could potentially threaten them. 

  • CoinMux
CoinMux is another decentralized bitcoin mixing script that is still under development and not be production ready yet, but we thought it would be a great product to look forward to. 

Disclaimer: All the information provided above are for reference only. We do not endorse any of the products mentioned above. Please make an informed decision before using any of these services. 

Saturday, June 23, 2018

Top Cryptocurrency business ideas that you can start within a week

Cryptocurrency based business ideas are considered future-proof. If you have been thinking about riding on the bitcoin business wave and have been putting it off, now is the right time to dive in.

Here are some of the interesting Cryptocurrency business ideas that we think you could start with an investment as low as $200 and upwards.

1. Starting a P2P Cryptocurrency Exchange:
This is our top most favourite among the other cryptocurrency business ideas. A P2P Cryptocurrency trading exchange is a marketplace where people can buy or sell cryptocurrencies directly with each other, as opposed to a user buying from or selling to an exchange. For each of these transaction made on the platform, as an exchange you could charge a fee for it.

Setting up a cryptocurrency exchange is tricky and needs proper security measures before it goes live. There are installation services that you can help you with these crucial process. You can get started with this bitcoin business idea right away, as there are cryptocurrency exchange scripts that are available for free.

Check it out here:

2. Cryptocurrency Wallet
This is our second most favourite, among the other cryptocurrency business ideas.

A Cryptocurrency Wallet helps a user store a variety of their cryptocurrencies. This would allow them to keep their cryptocurrency tokens in a safe place. A Cryptocurrency wallet must have all the necessary measures to prevent unauthorized access to their funds store in the Cryptocurrency wallet. A user would sign up for the wallet, then once they enter the wallet,they can generate an address under this wallet. Once they start receiving the coins, for each time they send some coins, you can charge the users for it.

The reason this bitcoin business idea is our favorite is because of it's ease of getting started. You can use any of the ready made scripts that help you start a cryptocurrency wallet platform right away.

Check it out here:

3. Cloud Mining platform

Our third favorite is the most eco-friendly among the other cryptocurrency business ideas. It impacts the environment significantly in a good way. Though the imagery that comes to your mind is of someone literally mining a coin, Cryptocurrency mining is the process by which a transaction is verified by solving a cryptographic hash (in the form of a puzzle). For every successful result some unit of bitcoin is generated. Cryptocurrency mining has been around since 2010, where people invested both expensive and inexpensive hardware to mine the coins.

Enter 2018, the ability to carry out mining through a cloud securely gave to the concept of Cloud mining. A method which is rapidly growing considering the time, money and energy it saves significantly.

If you are business savvy, this bitcoin business idea is for you. You can mine cryptocurrencies for others and take a fee for it as well. This guarantees that for a minimal investment, you get to mine bitcoins for yourself as well as others and make money off of it faster and easier.

There are readymade scripts available to start your own bitcoin mining service, one such script is available here: Check it out

4. Running an ICO
Among the cryptocurrency business ideas we have listed, this one requires that you are a crowd favourite.

Running a startup or have a business idea that needs funding, but unsure, whether investors would understand your product or reject it outright without realizing the potential (just like how the Shark tank investors lost out on investing in Ring. )

Initial Coin offering (ICO) is the best option for you. To host an ICO you would be distributing your own cryptocurrencies that is valued against a certain amount of USD or any fiat / cryptocurrency that you specify. When people buy these cryptocurrencies, they deposit the amount towards your idea / product. ICOs are a great way to garner crowdfunds from anyone around the world.

Also, for startups, this means that they already have the early adopters to try out their products.

Running and managing an ICO can be cumbersome, However, to execute this bitcoin business idea, you would need a solid ICO Dashboard to run and manage the whole process.

You can get one here:

5. Cryptocurrency Comparison Script

Ranking as the fifth favorite among the cryptocurrency business ideas, is the cryptocurrency comparison paltform. A cryptocurrency comparison platform is used by enthusiasts and professional traders alike.

Since cryptocurrency is decentralized, the price, volume, etc vary across multiple exchanges. There needs to be a comparison engine that formulates the mean average price across the exchanges for users to follow.

Starting a cryptocurrency comparison site by yourself is also possible. Lucky for you, there are data sources that do the heavy lifting for you. Your imminent source of revenue would be from displaying ads, promoting ICOs and events related to cryptocurrency on your platform.
You can build one from scratch or be wiser and pick one of the readily available scripts, to get the ball rolling.

With literally under $200, you can venture into the most lucrative aspect of the cryptocurrency trend. Now you know why it's among our list of favourite bitcoin business ideas.

Check the script here:

6. Bitcoin lending script

The final favorite among the other cryptocurrency business ideas, Bitcoin lending platform. Same old lending, but with Bitcoins this time. Money lending, is still a strong and profitable business for everyone involved (Considering only the legit operators here)
Allow your customers to invest in Bitcoins and over a period of time, offer them some appreciation for the amount of coins they had invested. With minimal investment, offer your users a fair sum of money / bitcoin after a minimal lock-in period..
Start your own bitcoin lending business with some of the best script that is available.

Check it out here:

With this, our list of bitcoin business ideas is complete. 

Do let us know in the comments if you know any other cryptocurrency business ideas that is easier to start for beginners and experts alike.