How to use Bitcoin in Privacy
“Many newcomers to Bitcoin mistakenly think of it as private, but the truth is far more complicated than that. While it is possible to use Bitcoin with a high level of privacy, it has been complicated by the growth in regulations. Exchanges must enforce Know Your Customer in most jurisdictions to allow them to retain their banking services, while chain analysis (expertise in block chain analysis) is increasingly used to flag transactions deemed illicit. While privately utilising Bitcoin is becoming harder, there are many tools available for Bitcoiners to reclaim their privacy. One of them is Wasabi wallet, best known for CoinJoin, a method which allows users to increase their Bitcoin anonymity.” (Max Hillebrand via the What Bitcoin Did Podcast by Peter McCormack).
In the interview “Protecting Your Bitcoin Privacy”, Podcaster Peter McCormack talks to Wasabi wallet contributor Max Hillebrand. They discuss remaining pseudonymous while using Bitcoin, with the help of Wasabi wallet & CoinJoin. Wasabi is an open-source, non-custodial, privacy-focused Bitcoin wallet for Desktop, that implements trust-less CoinJoin, which is a technique that mixes bitcoin transaction of manny, to create more privacy for the individual transaction. Samourai Wallet is a a bitcoin wallet forged to keep your transactions private, your identity masked, and your funds secure. They published a four part Understanding Bitcoin Privacy series on Medium, that helps to understand how to use Bitcoin in privacy. RoninDojo is a Samourai Wallet Community-driven Bitcoin full node stack optimized for Single Board Computers, like the Raspberry Pi 4. Our user interfaces and powerful features are fit for any level Bitcoiner.
Under the Pseudonym That One Privacy Girl a journalist publishes a monthly Newsletter titled This Month in Bitcoin Privacy with good content on the topic. Umbrel developed a whole operating system based around privacy and private use of Bitcoin. The latest Umbrel 0.4 was released in August. Purism develops privacy focussed hardware. Here you can learn how to start a new digital Identity.
Thank you for taking the time to read though this piece, if you have any questions, thoughts or advice, please reach out.