One of the key steps when it comes to security and privacy when holding cryptocurrencies is creating a wallet. As much as the user is free to leave their cryptocurrencies on an exchange, this is not the safest option.
There are good wallets in the digital environment, such as Metamask, and even physical wallets. One of the digital wallets that stands out is the Samourai Wallet, which has innovative features, including a Bitcoin Mixer.
Although Bitcoin is considered safe, it is not completely anonymous. Transactions can be tracked and if someone finds out that wallet X belongs to you, your privacy could end.
For example, if you attach your documents to a broker and decide to send funds to wallet Y, the broker has a good chance of knowing that wallet Y has some connection with you. Consequently, all transactions carried out by wallet Y as well, and so on.
This is where the role of a Bitcoin Mixer comes in. A Mixer basically mixes your coins with other people's, confusing and confusing anyone trying to track them. However, this is not the only functionality of the Samourai.
The Samourai works in any network condition. This is an attractive option for those interested in circumventing hostile or public networks.
You can set the fees you will pay according to the priority you want your transaction to take place.
You can also prevent privacy-damaging metadata from being leaked during the transaction. Stonewall creates special transactions that provide strong statistical doubts as to the link between sender and receiver. You can even view a transaction's privacy score before submitting it.
When you share a wallet address publicly, you are giving surveillance companies a starting point to track you. Using PayNym technology it is possible to defend against this attack, never revealing the address to anyone other than the sender and recipient of the transaction.
Thousands of innocent Bitcoin users are blacklisted daily. Companies check the history of the last 4 transactions associated with the selected addresses. Your coins can be frozen by your past activities.
Even if they weren't under your control at the moment. Rinochet comes as a solution to this problem. These are some of the features available in this wallet. Presentations done, now we will learn how to use it! You can download Samourai from the Play Store.
configuring the wallet
This is the first screen after opening the app. Select the Mainnet network to proceed. Then, a presentation of the application will be made. Just skip that part.
We have two optional settings that enforce wallet privacy. It is possible to use the Tor network or a Dojo Server. Tor is a network to increase the privacy of users traveling on the Internet. The Dojo is hardware that can be purchased from the app's official website. I will enable Tor Networking in this example, but I reiterate that it is optional.
It is also possible to restore an already created wallet by clicking on “Restore an existing wallet”.
Create a secure login password. Keep in mind that if you forget your password, nothing can be done. Click “Next”.
Now we choose a secure PIN to access our wallet. Then confirm the PIN and press “Finish”.
Another interesting feature is that when you access your wallet via the PIN, the keyboard will be scrambled, thus preventing snoopers from being able to memorize the movements you made with your finger and access the wallet.
This is one of the most vital steps in the process. The application will display 12 words that you must use to restore the wallet in the future. You can download and print a template to write them if you want. Just click on “Download PDF template”.
You cannot miss or forget these words. Otherwise, you will also lose your wallet.
These were the words generated to access the example wallet. You must keep yours in a safe place respecting the order. In the next window, the first password we set will be displayed. It will be needed to restore the application if you ever want to. Record all your passwords and proceed.
Ready! Wallet created successfully. Samourai recommends that you claim your Paynym as soon as you log in for the first time. Paynyms are optional, but are a nice addition to privacy, as already explained.
If you want to use Paynym just claim yours and share the address to receive your BTC. The other process for receiving and sending BTC is also simple.
Receiving and Sending Bitcoins
To receive, you can preset the desired amount and show the QR CODE to the sender, or simply send your wallet address, the set of letters and numbers displayed at the top of the GIF. Note that when changing the value, the QR also changes. The value is always displayed in BTC and Satoshis. You can also set the address type.
To send BTC, simply put the destination wallet in “To” and the desired amount of BTC. As a complement, it is possible to activate Ricochet, Cahoots and even stagger delivery. Now, to use the Samourai Mixer you must press the “Whirpool” tab. When you mix your coins in Whirlpool, you break the link between inputs and outputs of your bitcoin transactions.
Your cryptos are sent to a pool mixing with thousands more. All you have to do is select the UTXO, then the priority and the pool you want, paying attention to the fees. Ready! Traces successfully blended.
The Samourai wallet is a great tool for those who value privacy, but no technology is 100% secure. Keep in mind that one of the risks involved is that when sending your cryptocurrencies to any mixer service, you must entrust your BTC to that company. There are always risks of fraud, hence the importance of choosing a reliable service.
About the author
Paulo Alexandre is a Software Engineering student at IDP, in Brasília. He is an investor and passionate about technology. Its mission is to help people in the revolutionary world of Cryptocurrencies and Blockchain.
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