Bitcoin Wallet Spotlight: Wasabi Wallet

Fintoism Wasabi Wallet

Getting involved in cryptocurrencies allows consumers and corporations to achieve two things. First, they regain financial control at all times. Secondly, they can achieve a degree of financial transparency. Wasabi Wallet is a good fit in either regard.

The Wasabi Wallet Vision

Launching a new Bitcoin wallet might not sound all that impressive at first glance. However, it has become apparent that Wasabi Wallet is not just one’s average wallet capable of supporting Bitcoin. It is a privacy-oriented and open-source solution for users who demand that extra level of financial privacy at all times.

To further enhance user privacy, all of the network traffic passing through the Wasabi Wallet is routed via Tor. This doesn’t mean users need to set up Tor themselves. This wallet’s developers want to create a convenient yet private Bitcoin user experience. It is also possible for users to turn off this option in the settings, depending on one’s personal preferences. 

CoinJoin by Default

One aspect that Bitcoin is often criticized for is how its transactions are public in real-time. Some users dislike that aspect, for fairly obvious reasons. Wasabi Wallet utilizes a solution known as Zero Link CoinJoins. This protocol ensures that  there is no link between transaction inputs and outputs at any given time 

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Anyone monitoring the Bitcoin blockchain for new transactions will not be able to spy on these transfers. While non-private inputs can still be linked to a transaction history, but the situation is different where the equal value CoinJoin outputs are concerned. Even the recipient won’t know about the transaction history prior to the CoinJoin. 

Coin Control Options

Another intriguing feature provided by Wasabi Wallet comes in the form of coin control. Bitcoin’s core accounting model focuses on ensuring the input of a transaction has to be an output of a previous transfer that remains unspent. This creates a link between Bitcoin transactions, allowing onlookers to uncover the origin of every network transfer. 

The main problem that arises is how this model severely decreases user privacy. This is even more apparent when utilizing automatic coin selection algorithms, such as those provided by some exchanges and wallet services. 

Solving that issue is not easy, albeit an elegant solution exists. Wasabi Wallet users can benefit from manual coin control. It allows users to label receiving addresses. Moreover, users can manually select the coins they want to spend at any given moment. This is a very different type of customization, albeit one that is appreciated by users from all over the world. 

Cross-OS Compatibility

Similar to most Bitcoin wallets out there, Wasabi Wallet is compatible with all of the common desktop operating systems. That includes Windows, MacOS, Debian/Ubuntu,  and other Linux distributions. There is no mobile wallet at this time, which some might considered to be somewhat unfortunate. 

Compatible With Most Hardware Wallets

What makes Wasabi Wallet an even more compelling offering is how it can be used in conjunction with most of the top hardware wallets. Wasabi officially supports Coldcard, Trezor, and Ledger devices. Users can send and receive Bitcoin through this integration, but not benefit from CoinJoin features. Giving users a wide variety of different options is never a bad thing. 

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