CoinJoin Explained: Best Bitcoin Wallets for Privacy (Wasabi, Samourai, Firebolt, Joinstr & More)

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Bitcoin is transparent—but your financial life doesn’t have to be. In this video, we explain what CoinJoin is, how it works, and which wallets give you the best privacy.  We’ll cover the most important CoinJoin projects:  Wasabi Wallet – Desktop privacy wallet using WabiSabi protocol  Samourai Wallet – Android wallet with Whirlpool mixing  JoinMarket – Decentralized CoinJoin liquidity marketplace  Firebolt Wallet – Next-gen mobile wallet with CoinJoin, Lightning, PayJoin & Nostr  Joinstr – Fully decentralized CoinJoin protocol over Nostr  CoinJoinXT – Experimental privacy for Bitcoin’s Liquid Network  🔑 Learn the advantages vs disadvantages, and how to pick the right tool for your Bitcoin privacy journey  #Bitcoin #CoinJoin #CryptoPrivacy #WasabiWallet #SamouraiWallet #Firebolt #Joinstr #JoinMarket  Welcome to BlockBit! Your go-to hub for cutting-edge crypto and tech content on Dailymotion! Dive into the latest on blockchain, cryptocurrencies, and tech innovations with our updates, insights, and tutorials. Join our community and stay ahead in the digital world. Follow us on social media:  📌 DailyMotion:  https://www.dailymotion.com/BlockBitBTC 📌 Youtube: https://www.youtube.com/@BlockBitBTC  HODL our mission! Send a crypto donation to fuel our content and get a shoutout in our next video: https://tourniquet.app/donate/BlockBit  Business Inquiries: blockbitbtcb2b@proton.me  Disclaimer: The content in this video is for informational and entertainment purposes only and should not be considered financial advice. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions. Cryptocurrency investments carry significant risks, including the potential loss of your entire investment. Blockbit is not responsible for any financial losses incurred.  Subscribe for the latest crypto and tech updates! #BlockBit #Crypto #Tech

Transcript

00:00Bitcoin is transparent by design every transaction is recorded on the blockchain for anyone to see.

00:05But what if you want privacy?

00:06That's where CoinJoin comes in.

00:08Today, we'll explore how CoinJoin works, its advantages and disadvantages,

00:12and the wallets and projects that make your Bitcoin private.

00:15CoinJoin is a method for combining multiple Bitcoin transactions into a single transaction,

00:19making it very hard to trace which input paid which output.

00:22Think of it like a group transaction where everyone's money is shuffled together.

00:26It's non-custodial, meaning nobody takes your coins, they stay in your wallet.

00:30CoinJoin increases privacy, breaks the traceability of your coins,

00:33and improves fungibility, helping keep your financial life private.

00:36Here is how it works.

00:38Several users agreed to participate in a CoinJoin.

00:41Each provides inputs and outputs for the combined transaction.

00:44The transaction is signed by everyone and broadcasts to the Bitcoin blockchain.

00:48From the outside, it's nearly impossible to tell who paid whom.

00:52This is the core of Bitcoin privacy using CoinJoin.

00:55Advantages

00:55Enhanced privacy and anonymity

00:57Fungibility

00:59Coins are harder to taint

01:00Non-custodial, so your funds are always under your control

01:04Disadvantages

01:05Larger transaction size, higher fees

01:08Requires wallet support more complex than normal transactions

01:11Some exchanges flag or block CoinJoin outputs

01:14Limited anonymity set depending on the number of participants

01:17One

01:19Wasabi Wallet

01:20Desktop wallet using WoW via Sabi protocol

01:23Large CoinJoin anonymity sets

01:25Fungibility

01:26Mature, secure, privacy focus

01:28Cons

01:29Desktop only, not beginner friendly

01:30Two

01:31Samurai Wallet

01:33Android wallet with Whirlpool CoinJoin

01:35Focuses on privacy and post-mix spending

01:38Fungibility

01:39Mobile supports strong privacy

01:40Cons limited to Android, complex for new users

01:43Three

01:44Join market

01:46Decentralized CoinJoin marketplace

01:48Users earn fees for providing liquidity

01:50Pros

01:51Incentivize

01:52Decentralize

01:53Cons

01:54Complex setup

01:54Desktop only

01:55Thor

01:56Fibre

01:56What new and innovative

01:58Mobile wallet integrating CoinJoin

02:00Pajoin

02:01Lightning Network

02:02And Nostra protocol

02:03Pros

02:04All in one privacy suite

02:05Mobile first

02:05Non-custodial

02:06Cons

02:07New

02:07Still growing ecosystem

02:09Five

02:10Joys for emerging decentralized protocol

02:12Decentralized CoinJoin using Nostra for coordination

02:15Uses VPN and Tor for enhanced anonymity

02:18Pros

02:19Fully decentralized, resistant to censorship

02:22Cons

02:22New

02:23Limited user base

02:24Six

02:25CoinJoin

02:26XT

02:27Integrates CoinJoin with LiquidNetwork's sidechain

02:30Pros

02:30Privacy on sidechain's experimental features

02:33Cons

02:34Limited adoption

02:35Experimental

02:36Let's compare them quickly

02:37This table helps you pick the right tool depending on whether you value mobile access

02:41Decentralization or cutting edge privacy features

02:44CoinJoin is evolving with wallets like Firebolt and joins us to pushing privacy boundaries

02:49Whether you're a desktop user, mobile enthusiast or cypherpunk there's a solution

02:54to keep your bitcoin private

02:55Stay informed, choose wisely and keep your financial life confidential

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