Privacy in the Bitcoin investment world is indeed needed. This article will attempt to solve this issue by suggesting a list of the most anonymous Bitcoin wallets.
What is an anonymous Bitcoin wallet used for?
When everything comes to the Internet, one of the most worrying issues is how to protect the user’s identity and assets against the onslaught of technology criminals. The Bitcoin investors have reasons to worry even more due to the huge amount of money they spend on this virtual currency.
In fact, Bitcoin is not an entirely anonymous cryptocurrency. Even though Bitcoin transaction does not have any link to the trader’s identity, the public address in the transaction is publicly broadcasted to the network and can be accessed by anyone. This public address is the key for hackers to trace back the personal information of crypto holders. Because of this, despite claiming itself as anonymous, Bitcoin is called pseudo-anonymous. It is the reason why the anonymous Bitcoin wallet becomes extremely useful and necessary.
The anonymous wallet is created as an identity-hiding solution for Bitcoin investors. This type of wallet allows users to store and also use cryptocurrencies anonymously. They can send and receive Bitcoin without revealing any identification, therefore, no fear of losing it. The anonymous Bitcoin wallets are diversified depends on users’ needs. The content below will figure out the most anonymous Bitcoin wallets available in the market.
The most anonymous Bitcoin wallets for mobile users
#1 Incognito Wallet
Incognito Wallet is worthy to stand on the list of the most anonymous Bitcoin wallet because of its private-oriented features. This wallet allows hiding all personal information of involved parties in the transactions by employing the Zero-knowledge Proof technique. The technology ensures that the user can send Bitcoin to another party without letting this person know any information, except the amount of money he/she is transferred. It helps increase the privacy of crypto transactions to the whole new level.
Using Incognito wallet is pretty simple. All users need to do is to switch from the normal interface to “Incognito Mode” in which Bitcoin will be converted into privacy version at the same value. The wallet then connects to the public blockchain via a separate portal and thanks to so, transactions are made completely in anonymity. Both parties are able to keep their identity safely and transaction details are also impossible to be traced by any third party in the network.
This important feature of Incognito Wallet helps to solve the privacy issue more easily than ever and puts all confidential information under full control of users. More especially, it is not costly at all. Users can download the wallet freely to their iOS / Android smartphones and use instantly. More information about the useful functions of Incognito Wallet can be found on the website or through the supporting team.
#2 Samourai Wallet
The list of the most anonymous Bitcoin wallet for mobile users also includes Samourai Wallet. This Bitcoin-only wallet is integrated with innovative features and technologies which totally focus on protecting user privacy and assets.
The basic privacy features of Samoural is Tor and VPN support. These support crypto users to implement the transaction through an anonymous IP address. Additionally, this wallet also prevents users from reusing address, or in other words, each transaction is provided different addresses to send cryptocurrency to. Therefore, no one can track your exact wallet address and exploit information from it.
The most important unique selling point of this wallet is the STONEWALL mechanism. This feature is created to make it more difficult to match the input and output of a transaction together. By doing so, it seems to be impossible for someone to gather wallet address metadata.
However, as mentioned above, this wallet is dedicated only to Bitcoin and also only used in the Android platform. This is a significant downside for multi-cryptocurrency investors and iOS users.
The most anonymous Bitcoin wallets for PC and laptop users
#3 Rahakott Wallet
Rahakott Wallet is another top anonymous Bitcoin wallet but for investors who prefer a web-based version. Rahakott is an online wallet that supports multiple cryptocurrencies to meet the needs of various investors. Actually, mobile users still can use this wallet, as it is online, so you can access the wallet by any device, as long as the Internet connection is available. However, using it on a mobile interface may cause inconveniences and difficulties in manipulation.
Basically, the privacy features of Rahakott Wallet are pretty similar to what users can find in Samourai Wallet. It is also a Hierarchical Deterministic that allows crypto traders to create different addresses for each transaction. Moreover, this wallet is also integrated Tor support, and users can access their wallets through the Tor network for further privacy protection.
The outstanding feature of this web-based wallet is the built-in cryptocurrency mixer to prevent transaction tracing. The cryptocurrencies from multiple investors will be pooled together in a mixer and instead, untraceable coins will be sent to final destinations. This feature will help keep the transactions anonymously and hide all details of transaction owners from the third parties.
#4 Wasabi wallet
The most anonymous Bitcoin wallet for desktop-only users is Wasabi Wallet. This wallet is available in all popular operating systems such as Mac iOS, Windows, and Linux. It is well-built to optimize the privacy for investors and security for transactions.
Wasabi Wallet uses Chaumian Zero Link CoinJoins on Tor network to ensure anonymity. Basically, it is a technology that helps users mix their coins with other transactions by a trustless method, instead of relying on any third parties. By doing so, the coins will become untraceable. The level of anonymity will depend on the amount of users participated in CoinJoins, which means that the more users join, the higher anonymity is produced. Because of it, Wasabi Wallet has been attracted to a huge number of investors to use and join the network in spite of its relatively young age compared to the rest in the market.
Alternatively, Wasabi Wallet does not allow users to reuse addresses in their transactions. Users must create a new address every time they receive funds from another party, and when they want to send out money from the wallet, they can select one within the address repository to conduct the transaction. This feature aims to hide your address and keep your assets away from being traced.
The last name in the list of the most anonymous Bitcoin wallet is Bitlox, which is classified under the hardware wallet segment. Interestingly, Bitlox Wallet is compared as a Roll Royce in the Bitcoin wallet market due to its feature-rich that ensures the high level of security and privacy, with indestructible titanium cover. Currently, there are three models available in the market: BitLox Advanced, BitLox Ultimate, and BitLox Extreme Privacy. The last model is a highly anonymous wallet that privacy-seeking investors may be looking for.
Apart from solid appearance, BitLox Extreme Privacy set accompanies by a military-grade USB vault with the Tails OS pre-installed. This is the first hardware wallet that includes TAILS pre-installed. TAILS (The Amnesic Incognito Live System) is a live operating system that focuses on preserving privacy and anonymity. It is designed to use in almost computers without leaving any digital footprint of users, such as browser history. With this feature, users can transfer funds to other parties in complete anonymity through the Tor network, without the fear that their transactions will be traced.
BitLox Extreme Privacy’s downside is expensive price compared to other competitors in the same segment, even the most popular ones from Ledger or Trezor brands. Additionally, Bitlox only supports Bitcoin at the moment. Therefore, its target customers are also narrowed down significantly.