Wasabi Wallet is a leader when it comes to coinjoin transactions, offering users powerful privacy-reclaiming features that allow for Bitcoin to be used in accordance with the core principles it was designed to adhere to.
Wasabi Wallet is non-custodial, meaning that you retain full ownership over your private keys and, consequently, your bitcoin. Wasabi is also open-source and emerged out of a community that promotes the values of collaboration, transparency, and meritocracy. Anyone can see and verify how Wasabi Wallet works for themselves and can even contribute to its code if desired.
Wasabi Wallet is well-known for making privacy-boosting coinjoin transactions accessible to everyone, but some may not be aware of the extent its range of customizable features allow users to shape their own experience while usingWasabi Wallet. So let’s dive into some of Wasabi Wallet’s stellar features:
- Impressive customizability with Wasabi Wallet
- Coinjoin strategies
- Privacy progress
- User-friendly pricing
- Further customizable settings
- Privacy-oriented suggestions
- General settings
- Bitcoin settings
- Engage with Wasabi Wallet’s privacy-enhancing features
Impressive customizability with Wasabi Wallet
You’re likely aware that coinjoins are special bitcoin transactions integrated into Wasabi Wallet that involve combining two or more people’s transactions, removing the link between which outputs are paid by which inputs, significantly improving Bitcoin privacy and fungibility.
Wasabi Wallet uses the WabiSabi anonymous credential scheme, which helps make coinjoins as accessible and efficient as possible. Wasabi has automatic Tor integrations that mask users’ IP addresses to enhance their privacy while using their wallet, and locally installed Tor integrations are also possible.
Wasabi Wallet backups are hierarchically deterministic, which means a single recovery seed phrase can generate a nearly infinite amount of new bitcoin addresses for users to receive payments with.
Within Wasabi Wallet, you’ll find that you can select from a range of customizable options based on your particular needs when it comes to Bitcoin privacy. A coinjoin anonymity score target can be chosen from a range that falls between 2 and 300. Users can instruct the wallet to wait hours, days, weeks, or months for the cheapest available mining fees before coinjoining in order to save every possible sat.
Wasabi Wallet is accessible to users with limited knowledge of Bitcoin privacy strategies, and the platform is equipped with guides to help users navigate the wallet. At the same time, Wasabi’s customizability makes its use satisfying to users with specialized knowledge.
When you launch Wasabi Wallet, you’ll notice there are three default coinjoin profile types that you can select from: Minimize Costs, Maximize Speed, and Maximize Privacy. In addition to these three default profiles, users can also opt to design their own customized profile that strikes an ideal balance between affordability, speed, and privacy.
Next to your balance, you’ll notice a privacy progress bar that assigns a percentage based on the amount of your entire wallet balance that has been made private using coinjoin transactions.
When you first create your new wallet, your score will appear as 100% until you add to your bitcoin balance. From there, you’ll be able to improve your privacy progress percentage by making coinjoin transactions.
When registering for a coinjoin, Wasabi’s default coordinator charges 0.3% for inputs worth more than 0.01 BTC. This fee is designed to only be paid once since the coordinator allows any output of a previous coinjoin round to register for future coinjoin rounds for free. This allows users to further increase the privacy of their coins without paying again. To further encourage best privacy practices, coordinator fees are also waived for any change created from payments sent using private coins.
As a side effect of allowing no coordinator fees for change outputs, the transaction recipient is able to coinjoin without paying the coordinator as well. This means that transactions sent from one Wasabi user to another will not require coordinator fees for either transaction participant.
Further customizable settings
With Wasabi Wallet, you can toggle Discrete Mode (which was previously known as Privacy Mode) which hides all sensitive information on your screen, replacing all of the numbers with hash symbols. This can be useful under circumstances wherein access to your wallet is necessary but there are other people nearby who may be able to see your device’s screen. Discrete mode is also convenient for taking screenshots of the client without revealing every detail of your transaction history.
Before you send a transaction using Wasabi wallet, you’ll be provided with a Transaction Preview that gives you a quick overview of how much bitcoin you’re sending, in addition to the address it’s heading to, the estimated transaction time, and any fee to be incurred. When non-private coins are being sent, your Transaction Preview will let you know who could have access to information about the transaction.
When you send bitcoin using Wasabi Wallet, you’ll also get suggestions on how you can avoid creating leftover change from your transaction that is returned to your wallet. The orange shield icon appearing in the top right part of the Transaction Preview shows how much more or less to send with your transaction in order to create only one output, reducing the sender’s footprint on the blockchain.
Within the general settings area of Wasabi Wallet, you can choose whether you want to run your wallet in light mode or dark mode. You can opt for network anonymization, and whether Tor should terminate or continue to run when Wasabi is no longer active. Fees can be displayed either in BTC or sats and you can dictate whether Bitcoin addresses are automatically copy & pasted or not.
In the Bitcoin settings area of Wasabi Wallet, you can choose which network to operate on: the Main network, RegTest, or TestNet. You can elect to run Bitcoin Knots as a full node which downloads the entire blockchain history.
If you’d like a full walkthrough of the features of Wasabi Wallet and for a visual demonstration of the range of customization that it can allow for, check out this walkthrough video.
Engage with Wasabi Wallet’s privacy-enhancing features
Wasabi Wallet is private, secure, and incredibly easy to use. The wallet lets you get up and running with just a few clicks while performing coinjoin transactions in the background.
The wealth of features available to Wasabi Wallet users emerged out of an engagement with the community surrounding Wasabi. By reacting responsively to suggestions for ways that everyone’s Bitcoin experience can be made more seamless and more private, Wasabi has continued to become even better.
Recent improvements to Wasabi Wallet include an even smoother UI, optimized connectivity with Tor, and an enhanced experience for whales who own significant amounts of Bitcoin. If you’re looking to make bitcoin transactions in a significantly safer way, download Wasabi Wallet to get started.