Wasabi is a non-custodial wallet with a simple structure that makes it easy for users to manage their bitcoin. It also has a variety of features that make it more secure and privacy-enhanced. This includes CoinJoin, which allows users to combine their transactions and hide the identities of the sender and receiver. Combined with Wasabi’s non-custodial nature, this makes it impossible for hackers to steal users funds or manipulate their signatures.
Wasabi is available on a wide variety of devices and platforms. Its installer can be downloaded from its website and installs automatically on your PC or mobile device. Once installed, Wasabi will prompt you to generate a wallet by choosing a name and setting a password. It will then download a portion of the blockchain to synchronize your wallet. This process can take a while, depending on the speed of your Internet connection.
During the setup process, Wasabi will ask you to create a password and generate a recovery sentence (12 words). This is in case you lose your wallet or break your device. The software is compatible with Wasabi wallet most operating systems and requires a computer with at least 512 MB of memory.
Once your wallet is set up, you can start adding coins. Wasabi supports the smallest coin, Bitcoin, but it also supports a number of other cryptocurrencies. Adding new currencies to your wallet is straightforward, but you will need to provide your wallet address and password in order to add them. Once you’ve done this, Wasabi will begin displaying your balances and recent transactions.
One of the most unique and important features of Wasabi is its built-in support for CoinJoin. This anonymizing feature allows you to combine your bitcoin transactions with other users’ to reduce their visibility on the blockchain. This is especially useful when receiving large amounts of bitcoin from an exchange. This feature is not only effective, but it also reduces transaction fees.
Another key feature of Wasabi is its ability to detect UTXOs from exchanges and prevent them from being loaded into your wallet. This is achieved by encrypting your private keys with an algorithm known as hardened derivation. Additionally, Wasabi supports a customizable “dust limit,” which ensures that your wallet only displays UTXOs above a certain threshold.
While the Wasabi wallet has many security and privacy features, there are some issues to keep in mind. The ZeroLink protocol is still in development and vulnerabilities appear on Reddit from time to time. Fortunately, the Wasabi team is working to fix these issues as soon as possible.
The Wasabi wallet is a great choice for anyone looking for a reliable and stable cryptocurrency storage solution. The wallet is free to use and provides a safe environment for keeping your digital assets. The Wasabi wallet is an open-source project and can be used on any Windows or Mac computer. The interface is user-friendly and simple to navigate, making it an ideal choice for beginners who are new to the world of cryptocurrency.
