Financial security looks like spending less than you earn, building an emergency savings account and having a healthy relationship with debt. It’s also about having a solid plan for your future. Washabi Wallet is an easy-to-use, secure cryptocurrency wallet for experienced crypto enthusiasts. It offers offline storage and complete control over your private keys.
PRIVACY
Amid growing concerns over the transparency of cryptocurrency transactions, a number of privacy tools have emerged to help users obscure their identities. But according to a report published by Europol on October 5, some of these services have also become popular among criminal entities. The law enforcement agency highlighted Wasabi and Samourai, two bitcoin mixers that are positioned as privacy-focused wallets, in its Internet Organised Crime Threat Assessment report. Europol says that although these services offer ‘possibly the most convenient and secure way to mix coins, they naturally attract those involved in illegal activities’. It also notes that blockchain analysis companies can’t easily demix these transactions.
SECURITY
According to a new report by Europol, services like wasabi wallet are being used more often by criminal actors looking to hide their cryptocurrency transactions. The law enforcement agency says that the mixer’s ‘highly effective decentralised design and privacy-focused options’ make it a popular choice for bitcoin users seeking to obscure their activity on the Darkweb. Adam Ficsor, Wasabi’s co-founder and CTO, said that his company’s coinjoin service is becoming the “most accessible privacy tool for bitcoin users” and it’s difficult for blockchain analysis companies to identify specific wallets using its technology. The service is also non-custodial, meaning that it does not have access to users’ funds and cannot be blocked by law enforcement.
EASY TO USE
Financial security is about feeling confident that you’re able to reach the savings goals that are important to you. This may include building emergency savings, paying off debt, or saving for retirement. For those who prioritize privacy, Wasabi is a popular open-source, non-custodial wallet that allows users to control their own private keys and supports features such as rotating addresses and built-in CoinJoins. The wallet can also be secured with a hardware device to further reduce risk.
If you want to purchase WasabiX (WASABI) with fiat, we recommend using a wallet that supports direct fiat purchases or choosing a decentralized exchange that offers crypto-to-crypto transactions. If you choose to use a decentralized exchange, you’ll need to first buy the base currency before exchanging it for WasabiX. You can find the best crypto wallet for your needs by checking out our top-rated options and reading our guide on how to buy cryptocurrencies.
FLEXIBLE
The flexibility of wasabiwallet enables users to make and receive payments across a wide range of channels. It also provides the option for businesses to customize their e-wallet experience by adding branding and functionality for specific markets and regions. The wallet’s enhanced privacy features have attracted criminal entities, according to a report by Europol, which noted that bitcoin mixer services Wasabi and Samourai have seen increased usage among Darkweb actors. Moreover, the service has attracted significant investment from a cryptocurrency fund run by Cypherpunk Holdings, whose 4.5% equity stake valued Wasabi at $7.5 million at the time of the investment.
Unlike other services, Wasabi does not store transaction data, and blockchain analysis companies can’t identify users or trace their transactions. Thus, law enforcement agencies have limited options to demix Wasabi coinjoins and trace the funds back to their originators. This is a key feature that distinguishes Wasabi from other mixing services, which may be blocked by exchanges or be vulnerable to government interference.
Conclusion
Wasabi is a free, open-source Bitcoin wallet that offers privacy features like client-side block filtering and Tor integration. It also supports Chaumian CoinJoin mixers that offer mathematically provable privacy by shuffling coins without trust. By default, Wasabi Wallet’s address labeling, manual coin control and CoinJoin feature provide strong privacy guarantees. It uses Schnorr blind signatures and zkSNACKs to run trustless, private (even the coordinator can’t spy) coinjoin transactions.
