Wasabi Wallet Review: Wasabi Is 100% Safe & Secure

About Wasabi Wallet

Wasabi Wallet is a Bitcoin (BTC) digital wallet. It allows users to store, manage and monitor their BTC by using the available Windows version of the wallet. The Wallet supports the BTC, it has trading facilities and the private key is personal, which means that the user is the one who keeps it. The wallet uses a new type of validation, which involves communication with a central server anonymously over Tor AND the Bitcoin P2P network.

Wasabi Wallet is an open source, non-custodial and privacy-focused Bitcoin wallet, available on Windows, macOS and Linux. The marquee feature, however, is its implementation of the trustless CoinJoin process. CoinJoin helps make individual Bitcoin transactions more secure by combining multiple coins from multiple people into a single transaction.

Wasabi Wallet is an open-source, non-custodial, privacy-focused Bitcoin wallet for desktop, that implements trustless CoinJoin. The creates trustless CoinJoin transactions over the Tor anonymity network. The CoinJoin coordinator cannot steal from, nor breach the privacy of the participants. Wasabi’s coinjoin implementation is trustless by design.

Wasabi Wallet Points Table

How To Install & Send/Receive Coin

Trust Wasabi

No, coinjoin implementation is trustless by design. The participants do not need to trust each other or any third party. Both the sending address (the coinjoin input) and the receiving address (the coinjoin output) are controlled by your own private keys. The merely coordinates the process of combining the inputs of the participants into one single transaction, but the wallet can neither steal your coins, nor figure out which outputs belong to which inputs.

Fees

You currently pay a fee of 0.003% * anonymity set. If the anonymity set of a coin is 50 then you pay 0.003% * 50 (=0.15%). If you set the target anonymity set to 53 then Wasabi will continue mixing until this is reached, so you may end up with an anonymity set of say 60, and you will pay 0.003% * 60 (=0.18%).

There are also edge cases where you do not pay the full fee or where you pay more. For example if you’re the smallest registrant to a round, you will never pay a fee. Also when you are remixing and you cannot pay the full fee with your input, then you only pay as much as you have, but if the change amount leftover would be too small, then that is also added to the fee. Currently the minimum change amount to be paid out is 0.7% of the base denomination (~0.1BTC.)

It is also possible that you get more back from mixing than you put in. This happens when network fees go down between the start of the round and its end. In this case, the difference is split between the active outputs of the mix.

Mix Coin

It is advisable to limit the recombining of mixed coins because it can only decrease the privacy of said coins. This links all the consolidated UTXOs in one transaction, creating only one output, which then clearly controls all these funds. That said, if you combine less than 1 BTC it is less likely to reveal your pre-coinjoin transaction history. The potential issue comes when you spend that coin.

Depending on what you do with the coin you might reduce the privacy of the resulting change (if you send half your coin to an exchange for example, as they will know that you own the coin change). As a result it is best not to recombine ALL your mixed change, though you may wish to recombine some coins if you are planning on hodling for many years as this will reduce the fees required to spend the coins later.

Wasabi Wallet

This is Wasabi Wallet’s open source documentation. Here you will find information about the nuances of privacy in Bitcoin, how solves some of the existing problems, and how you can use this tool to defend yourself. Everyone is welcome to make the Wasabi Wallet documentation better, by contributing on GitHub!

Open-source

Don’t trust, verify. This is libre and open source software under the MIT license. You have full access to every single line of code, and you can do with it as you please.

non-custodial

Not your keys, not your bitcoin. With If, you are always in full control of your private and public keys, you never share them with any third party.

Privacy-focused

Wasabi Wallet Without financial privacy, there is no human dignity. The is designed with one goal in mind, to protect your sensitive financial data, on the network level and on the blockchain.

Hardware Wallet

Most hardware wallets communicate with servers to provide you with your balance. This reveals your public key to the server, which damages your privacy – the hardware company can now theoretically link together all your addresses.

As a result it is not recommended that you send your mixed coins to an address associated with your hardware wallet unless you are confident that you have set up your hardware wallet in a way that it does not communicate with a 3rd party server (see below).

You can however manage your hardware wallet with the interface. Alternatively you can use your hardware wallet with Electrum, which connects to your Bitcoin Core full node through Electrum Personal Server.

Wasabi Wallet FAQ