Wasabi offers enhanced privacy, protecting users from prying eyes and internet service providers by linking transactions to a Tor network. Users maintain full control of their own private keys in a non-custodial wallet, so you don’t have to trust an exchange with your assets. It’s a good choice for Bitcoin holders looking to avoid exposure. Europol cited Wasabi and Samourai as transacting tools that are seeing increasing use among Dark Web actors.
Wallet Settings
There are several settings available to you in the wasabi wallet. You can customize the appearance of your wallet, change the password, and more. You can also access your transaction history and set up two-factor authentication (2FA) for enhanced security. If you’re concerned about security, it’s recommended that you keep your WasabiX in a non-custodial wallet, such as a hardware wallet like Ledger or Trezor or one of the leading Web3 crypto wallets (like KuCoin Wallet or MetaMask). This will ensure that you have complete control over your private keys.
Another option is to buy WasabiX directly from a decentralized exchange (DEX) if they support fiat purchases. If not, you can buy a base currency such as USDT and then swap it for WasabiX on the DEX. You can also purchase and store WasabiX in a centralized exchange if it is supported by the exchange. Finally, you can use a local crypto ATM if it is supported.
Transactions
In addition to CoinJoin, Washabi Wallet supports a variety of other privacy techniques such as ring signatures, onion routing, and other transaction layering tools. Currently, only coins sent to Washabi Wallet can be used for coinjoins, but support for other coins and address types is in the works. In an October 5 blog post, Europol cited the bitcoin mixer services Wasabi and Samourai as tools that are seeing increased use among Darkweb actors. The agency said that these wallets are publicly positioned as privacy-enhancing tools, which naturally attract criminal entities looking to conceal illicit activity with cryptocurrency.
Adam Ficsor, co-founder of Wasabi and Samourai, responded to the Europol report with a blog post describing how these bitcoin mixer services work to protect users’ privacy. He pointed out that law enforcement agencies cannot hope to demix transactions passing through Wasabi or Samourai because they are non-custodial and therefore don’t have access to users’ funds.
Addresses
A user can add unlimited bitcoin addresses to their Washabi wallet, and use any of those addresses for receiving and sending transactions. Washabi Wallet also offers a number of privacy tools, including the ability to create coinjoins and use multiple mixing techniques. In a report released on October 5, Europol identified Wasabi and Samourai as services that have become increasingly popular with Darkweb actors due to their obscurity. Cypherpunk Holdings, a public company listed on the Canadian Securities Exchange, is a major investor in Wasabi and Samourai. Washabi is based on Wasabi’s open-source code. Globant is a digitally native company reinventing businesses with innovative technology solutions.
Security
Unlike most desktop wallets that only store one cryptocurrency, wasabiwallet offers multiple ways to protect your privacy including trustless CoinJoin. This feature merges your coins with others to prevent third parties or hackers from tracing your bitcoins. It is the most popular and effective way to protect your Bitcoin from prying eyes. In addition, Wasabi complies with the Digital Millennium Copyright Act of 1998 and will terminate service to end users who repeatedly infringe upon intellectual property rights of Wasabi or others. This includes unauthorized or unlicensed use of copyrighted works, alterations to files with the intention to defraud Wasabi or other third parties, or use of the trademarks, domain names, and other distinctive marks owned by Wasabi or others.
Additionally, Wasabi does not collect any personal information so a data breach like the one at Facebook that compromised millions of user accounts would have no impact on your crypto holdings. This makes Washabi a great choice for investors looking for non-custodial storage of their assets.
Conclusion
Wasabi wallet is a bech32 wallet that does its own mixing. It uses the BIP 157-158 account hierarchy for deterministic wallets which reduces block downloading and allows a light wallet experience. It also supports CoinJoins on change outputs without the need to pay coordinator fees for the transaction recipient. This de-links the trail from Bob/exchange to your coins and improves privacy.
