Wasabi Wallet is a decentralized anonymous wallet for storing bitcoins, available as a desktop application for Windows, Linux and macOS. It is open source and is intended for both individual users and businesses who value privacy. One of its features is the built-in CoinJoin technology, which provides anonymization of transactions. The experts of Prof investment studied in detail the functional aspects of the wallet and noted its popularity and stable development due to the regular addition of new functions and improvements.

Wasabi Wallet Features

The developers of Wasabi Wallet strive to ensure high investment security and protection of personal information of customers. To do this, the wallet has the following features:

1. Non-modality: Users are responsible for storing private keys from their wallets. Developers do not store this information on their servers, which reduces the risks of hacking or unauthorized access to funds.

2. Privacy-oriented: Through the use of Bitcoin anonymity algorithms and CoinJoin technology, Wasabi Wallet increases the level of privacy of its customers, helping them to remain anonymous online.

3. Integration of Tor technology: When logging into the Wasabi wallet, a connection to the Bitcoin network via the Tor network automatically occurs, providing a high level of anonymity and protecting users' personal data from unwanted tracking.

4. Built-in mixing: Wasabi Wallet includes the CoinJoin function, which allows you to mix bitcoins of different users in a single transaction, which makes it difficult to trace the history of the movement of funds and increases the anonymity of each client.

5. Coin management function: Customers are invited to mark the receiving addresses and select specific coins for transactions. This helps to effectively manage the history of funds and prevent the use of unwanted coins in transactions.

The official Wasabi Wallet website provides detailed information about the features of the wallet, as well as solutions to the problems of the Bitcoin network faced by developers.

How to use a wallet

Initially, you need to visit the official Wasabi Wallet website and download the version of the program that is suitable for your device. After the installation is complete, you need to create a new wallet, come up with a name for it and create a secure password. Once your wallet is installed, named and password protected, you will be able to explore the application interface and read the guides for storing, sending and receiving bitcoins.

Official website 

The official Wasabi Wallet website has various sections, including ads, for beginners, technical, product and community. Each of these sections contains many useful and informative articles intended for both beginners and more experienced users.

The Announcements section provides up-to-date information about the latest updates, new features and other important events related to Wasabi Wallet.

The section "For Beginners" contains articles, guides and instructions that are aimed at beginners and help them understand the basic principles of using Wasabi Wallet, as well as get started with this wallet.

The Technical section provides more in-depth and technical information about the functionality of Wasabi Wallet, including technical documents, setup instructions and detailed explanations of technical concepts.

The Product section contains feature reviews, user guides, and other materials that help users make the most of Wasabi Wallet for their purposes.

In the "Community" section, users can find information about events, the Wasabi Wallet user community, as well as participate in discussions, share their experiences and ask questions to other Wasabi Wallet users and developers.

Reliability

Wasabi Wallet for Windows has not been seen in fraudulent scams, which helps to strengthen user confidence in its honesty. The creators of the wallet also actively participate in various conferences about Bitcoin and blockchain, which also strengthens users' faith in its reliability.

It is especially important to note that Wasabi Wallet is open source, and developers publish all its resources on the GitHub platform. The code is attached to posts about new software versions, which allows private programmers to freely analyze and check it for vulnerabilities and malicious algorithms. This ensures transparency and trust in the security of the Wasabi Wallet.

Operating systems

Yes, Wasabi Wallet is cross-platform, but at the moment it does not have its own mobile application. However, it can be installed on computers with operating systems:

• Windows

• MacOS

• Linux

For Linux, developers provide separate versions for Debian/Ubuntu and other Linux distributions. They are distributed as archives with the extensions .deb and .tar.gz accordingly. This makes it possible to install Wasabi Wallet on a wide range of computers running various Linux distributions.

Safety 

Wasabi Wallet provides a high level of security, starting from the moment of installation and configuration. Users are given an initial phrase of 12 words, which they can use to backup the wallet or access it in case of loss or damage to the device. This phrase is a generated string of words and plays a key role in restoring access to the wallet.

Wasabi Wallet is a hierarchical deterministic (HD) wallet, which means that it generates new crypto addresses for accepting payments and protecting funds. Users can generate countless addresses and securely back them up with a 12-word recovery phrase.

Wasabi ensures confidentiality and anonymity through the implementation of CoinJoin technology, which allows you to combine coins of several participants into one transaction. This makes transactions untraceable and increases the level of anonymity of users. It is important to note that Wasabi Wallet only offers documentation, not contact support on its website, however it provides a reliable level of security and privacy.

Although Wasabi Wallet provides security and anonymity, it is important to remember that CoinJoin technology has been used by some to conceal criminal activity. Cases of such use have been noticed, and this should be taken into account when using a wallet.

Privacy and anonymity

To ensure the confidentiality and anonymity of users, Wasabi Wallet creates a new address for each transaction and does not require the "Know Your Customer" (KYC) procedure. Users also have the option to use the CoinJoin feature during transactions to increase the level of anonymity.

CoinJoin is a bitcoin transaction anonymization method that allows users to mix their coins with other users' coins before making a transaction. This complicates the identification of the sender and recipient of the transaction. The process of executing a CoinJoin transaction using Wasabi includes the following steps:

1. Launch of Wasabi Wallet.

2. The choice of a maximum of seven coins, each of which must be worth at least 0.1 BTC.

3. Specify the level of anonymity, which determines the number of other users with whom the coins will be mixed.

4. Enter the password to confirm the transaction.

5. Pressing the "Queue selected coins" button.

6. Waiting for the transaction to complete.

After the completion of the CoinJoin transaction, the mixed coins become part of the new transactions, which increases the level of anonymity and prevents the possibility of tracking transactions.

Advantages of the wallet

• CoinJoin Support: CoinJoin is a mechanism that ensures confidentiality in bitcoin transactions by breaking the link between which input pays for which output, thereby preventing the possibility of determining the owner of the input.

• Increased privacy through Tor integration: Due to the large volume of communication between Bitcoin nodes, users can be deanonymized. However, Wasabi Wallet offers Tor integration, which can be installed both locally and automatically, to mask the IP addresses of Bitcoin users, providing increased privacy.

  
  

• Free and open source: Wasabi Wallet is not only free to use, but also has open source code, which gives users more control over the software they use. This allows tech-savvy users to customize the software according to their needs.

Disadvantages of the wallet

• Wasabi Wallet is limited to supporting only one crypto asset - bitcoin, which limits its functionality for investors who seek to manage various assets in one wallet.

• Lack of a mobile version: Wasabi Wallet is only available in the desktop version, which makes it difficult for users who prefer to manage their crypto assets via mobile devices remotely.

Commissions

The authors of Wasabi Wallet have implemented a mechanism for charging a fee for using the CoinJoin function. This mechanism includes two components: a fixed commission of 0.003% and a variable known as the "anonymity set". The latter is an estimate of the number of mixing participants who participate in the transaction anonymization process. 

To calculate the total commission, the formula is used: 0.003% * anonymity set. For example, if the anonymity set is 50, the commission will be 0.003% * 50 = 0.15%. Users can independently adjust the values of this variable according to the desired degree of anonymity.

It is important to note that Wasabi Wallet does not charge additional fees for its services, with the exception of network fees that users are required to pay for conducting bitcoin transactions.

Support Service

Wasabi Wallet has a disadvantage in the field of user support. Since there is no active chat, application system, email or contact phone, users may encounter difficulties when trying to contact Wasabi support if they have questions or serious problems. The website provides only extensive documentation, manuals and a frequently asked questions section. This limits users' access to help and advice, which can be inconvenient if problems arise.

Conclusion

Wasabi Wallet is a secure and confidential wallet that does not store user data. The integrated features of CoinJoin and Tor make it an attractive choice for traders and investors who value privacy when conducting bitcoin transactions.

However, Wasabi Wallet only supports bitcoin and does not have a mobile application, which makes it less convenient for investors who want to store various cryptocurrencies in one wallet or track their funds from mobile devices.