How to use Wasabi wallet  CoinJoin Guide

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This serves as a quick guide to making Bitcoin anonymous again. The great, open-sourced Wasabi wallet utilizes CoinJoin, a trustless way to privately mix and send your precious BTCs.

  1. First make sure you are going to the correct website to download the Wasabi wallet. (double-check that you are DLing and installing the correct software, trust no one!)
  2. Once installed, it will take a few moments to synchronize with the network, connect to peers and be Ready. Generate your wallet, choose a good password and do not forget to write down your seed!
  3. After creating your Wasabi wallet, choosing a password and writing down your seed, I recommend going to Test Password in case you are clumsy or have fat fingers.
  4. Alright! Once all systems are ready click on Receive and generate your receiving address.
  5. After sending BTCs to your receiving address and upon confirmation, click CoinJoin. Your privacy rating will probably show a Red X Shield with an anonymity set of 1. Think of anonymity set as a rating or mix level of anonymity.

  6. Click Select All, enter your Mandarin password (lol) and hit Enqueue Selected Coins!

  7. Your Status Bar will now pop up showing which coins are queued waiting to be mixed. You may click the giant shield, circled below, to change your target anonymity although it is recommended to keep it at 50. If the number of Registered Peers reaches 100/100 then CoinJoin will begin immediately. Otherwise, CoinJoin will initiate automatically once the registration timer is up.
  8. Let the trustless mixing begin!
  9. After CoinJoin is complete and depending on how much you are mixing, you may be good to go. Due to the nature of CoinJoin, the trustless method will automatically split up your coins. If there are BTCs remaining that haven’t quite reached your anonymity preference and you are in a rush, I recommend clicking Select All Non-Private and only queuing those coins.
  10. A neat feature is you can still send your BTCs that you deem private enough to be sent while you are waiting for the others to CoinJoin. Simply go to Send, select accordingly and enter your password.
     

Wallet leakage

To pay with bitcoin you have to use a wallet maybe a web-wallet or a light-wallet. Most of these wallets are directly tied to a 3rd party server. Every actions you take are forwarded to them if they decide they can easily spy on you. Most of the cases they are holding your private keys too. In the privacy point of view this is the worst you can do. Wasabi is a non-custodial wallet your private key is stored on your side (in an encrypted wallet file) meaning that you have the full control over your bitcoins no third party can freeze or lose your funds.

Transaction chain

Bitcoin is often described as an anonymous cryptocurrency, but this is incorrect. Bitcoin is actually pseudonymous. The distinction is crucial: under a cryptographic pseudonym, your behavior can still be tracked.

 

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