PayShield Review

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Payshield is a 2 in 1 bitcoin mixer: Have you wondered why does one need to mix Bitcoins in the first place. For a lot of people who are aware how anonymity or rather lack of it works in the Bitcoin world a primary area of concern is that while getting Bitcoin payments from certain agencies or individuals operating in the Bitcoin world may put them on the radar of the investigating agencies. It is also possible that a person may have to send out Bitcoins to a person or an agency that he would not like to be associated with.

At times the user has to juggle with multiple wallets and a Bitcoin mixing service that they can trust. Talking of a Bitcoin mixing service of trust a name that has earned the confidence of a number of users is Payshield. The Payshield Bitcoin mixing service can be identified by its distinct logo To access the Payshield site and use its services one has to visit the Onion site of Payshield payshld6oxbu5eft.onion

As all onion sites we need the Tor browser to access the onion site of Payshield. Upon visiting the site one finds that Payshield offers two distinct type of services. The first service offered is the Bitcoin mixing service and the other service enables the user to pay someone with mixed coins.

To understand how the Payshield Bitcoin mixing service works it is important to understand the way the Bitcoin transactions occour.

Let us say you have a Bitcoin address corrosponding to your Bitcoin wallet. You can give your address to anyone you wish to receive Bitcoins from and you can also send out Bitcoins from your Bitcoin wallet address to another persons Bitcoins address. You might think that the information of the Bitcoin transaction that you are conducting with another person remains between only the two of you. However this belief is far from true. For every Bitcoin transaction is logged in a ledger called Blockchain. To verify my statement you can simply the link https://blockchain.info/address/ The link opens up the holy grail of the Bitcoin world and the page looks like this:

Blockchain check

From this page a user can look up a transaction history of his Bitcoin Address as well as that of any other persons Bitcoin address. So be it clean or shady every Bitcoin transaction associated with a Bitcoin address is there in public domain. Another fact is once the transaction appears in the Blockchain its record cannot be erased or hid from someone scrutinizing the transaction. However another fact that need to be noted is that prior to conduction a Bitcoin transaction step can be taken to reroute the transaction in such a way that there is no traceable link in the Blockchain that can link a sender and a receiver of Bitcoins based on the Bitcoin transaction.

To reroute such transactions Bitcoin mixing services like Payshield are engaged. The Payshield site which can be accessed by accessing the onion site offers a simplistic interface to its users It offers 2 set of services to its users

  1. To Mix your Bitcoins
  2. To pay someone with Mixed Coins.

For mixing the Bitcoins an amount between 0.1 BTC to 20 BTC can be sent in in a single transaction.

The payment is to be sent in a single transaction and within a period of 24 hours from the time a deposit Bitcoin address is assigned to the user.

The Payshield Bitcoin mixing service works on the principal of mixing a users Bitcoins with coins of other users. In case the user wants mixed coins for himself then the mixed coins are sent out to the users specified address.

In case the user wishes to make a direct payment to someone with mixed Bitcoins then he needs to specify the third party’s Bitcoin address to whom the payment is to be made right at the beginning of the operation.

In either case the Payshield service charges its users a variable fee that is capped at a maximum of 2%

The variable fee is randomized so that the transaction may not be detected while doing Blockchain analysis. This is to enhance the security and anonymity of the user and his transactions.

Here is a step by step guide to mix Bitcoins

Before going further I would like to enlist a few important tools and steps that you would need to help you get your Bitcoins mixed.

The journey of Bitcoin mixing starts by opening the Tor browser. The Tor browser has an additional benefit that it enhances anonymity of surfing for the user. Most devices do not come pre-installed with the Tor browser if this is the case with your internet device as well then you can download and install the Tor browser from here .

tor browser front page

The Tor browser has many features that are worth knowing as they would help the user increase the level of anonymity and security of the user. In case a user does not have the Tor browser make sure you downloat it from its official site https://www.torproject.org/download/download.html.en Install the version of the Tor browser that is compatible with your device.

There is a Tor browser available for

  • Microsoft Windows
  • Apple OS X
  • Linux
  • Smartphones

If you are directly downloading the Tor browser on the machine that you are going to install the Tor browser to then install a version of Tor compatible to your machine. However if you are going to download the Tor browser on one machine and then install the browser on another machine then make sure you download the Tor browser that is supported by the operating system of the destination machine.

A detailed explanation and guide on the Tor browser can be found here. As far as possible use an internet connection that cannot be traced back to you. So using a home or office internet is not a very good idea. Try using the free to use internet connections where it is hard to trace back the activity back to you.

Always use a good VPN service provider to enhance your connection.

Here is Step by Step Guide to use the Payshield services.

Step 1. Launch the Tor browser on the device through which you want to connect to the internet and get your coins mixed. Enter the Onion address of the Payshield site payshld6oxbu5eft.onion and open it in the Tor browser The following page would open up in your Tor browser.

payshield homepage

Step 2 To mix your coins click on the Mix my coins section of the site as marked in red in the image below.

Mix my coins

This leads you to the next page that looks like the image below

payshield address for mixing bitcoins

Enter the Bitcoin address where you want to receive your mixed Bitcoins. Fill out the Captcha and click on the go button. This leads to the following page

status

 

payshield deposit address

On this page you would find the Bitcoin address assigned to you to send in the Bitcoins to be cleaned.

You can send in an amount between 0.1 BTC to 20 BTC. Payshield advises that the user should send only one payment. The user has a 24 hour time window to send in the Bitcoins to be cleaned. Payshield checks for the Bitcoins received into the Bitcoin deposit address assigned to you periodically at an interval of 1 minute. Once the users Bitcoins are received in the account they are mixed with other users Bitcoins.

The fee that Payshield charges for using its services is capped at 2%.

Payshield increases the randomness of the transaction by varying the fee it charges its users by a random amount. The other service that Payshield provides is giving the user the facility to send payment to anyone directly using mixed Bitcoins. A user desirous of using this service can initiate this service from the Payshield’s home page.

The following steps should be followed to make a payment using mixed Bitcoins.

Step 1 From the home screen click on the “Pay Someone with Mixed Coins” section as shown in the image below.

Pay Someone with Mixed Coins

Step 2. This leads the user to the following page as shown in the image below.

ammount

On this page enter the following information as shown in the image below

  1. BTC Amount to be sent: The user can enter between 0.1 to 20 BTC
  2. Enter the address to which the BTC are to be sent
  3. Complete the Captcha
  4. Click the Go button at the bottom of the page.

The following page opens (as shown in the image below)

This page displays the Bitcoin address assigned to the user for sending in the Bitcoins to be mixed and sent out to a 3rd party address.

Step 3 Send out the payments to the address specified on this page

Send Bitcoins that need to be mixed and sent out to as payment to the address specified on this page.

  • The user can send in BTC ranging from 0.1 to 20 BTC.
  • The user needs to complete the sending in of BTC in a time frame of 24 hours.

The fee: Payshield caps the maximum payment that it would charge the user at 2% of the deposited value. The actual fee would vary randomly so that the transaction would not get detected easily at the Blockchain level.

The way this operation is carried out is that the BTC that are sent in by the user who wishes to make a payment to a 3rd party are mixed with the Bitcoins sent in by other users. From this pool of mixed coins the outgoing payment is sent to the 3rd party address that was specified by the user in the beginning of the operation.

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