A Bitcoin transaction is traceable and public. Once you’ve made it, the records will be stored on the blockchain forever. You never know how this information can be used by criminals or third parties to trace your finances and attack you. That’s why anonymizing bitcoin transactions is imperative.
Thankfully, there’s a way to do just that. Let’s take a look at what I think are the top 3 anonymous Bitcoin wallets, and why.
Incognito gets first place in my rating, and it’s well-deserved. I break the logic into three main parts below.
It utilizes unique cryptography to anonymize and unlink every Bitcoin transaction .
- Ring signature - to hide the sender’s address
- Stealth address - to hide the receiver‘s address
- Confidential transactions - to hide the transfer’s value
- Confidential assets - to hide the type of assets you transfer (in building progress).
Put simply, if you use the Incognito Wallet to anonymize Bitcoin transactions, or transactions with any coin, they will be completely invisible to the whole world.
Incognito provides an incognito mode for all public activity you can do with Bitcoin.
- You can store and send Bitcoin anonymously –>
- You can buy and sell Bitcoin without registration or verification –>
- You can invest your Bitcoin, earning interest without disclosing any data –>
Incognito is a multi-currency and multi-platform privacy-protecting wallet.
- As a crypto investor, I can store any crypto anonymously in my wallet (Ethereum, Binance, Monero, Bitcoin, etc).
- Incognito is multiplatform. I can get access to my funds from mobile (iOS and Android), and talk with the network directly from a terminal.
- Incognito is easy to use, so privacy is friendly to newcomers.
Cons of using Incognito
- HD wallet & integration with Ledger is not yet deployed.
- Could use more security features, in case I lose my phone.
- It’s not that popular yet, so I need to explain to my friends why it’s so cool and how it has the strongest anonymity set
Besides the Incognito wallet, I want to give my appreciation to Samourai - it’s an Android-based Bitcoin wallet with inbuilt whirlpool technology.
Whirlpool is a kind of bitcoin mixer that allows you to break a trace of your transaction.
I also like Samourai’s positioning - “A Bitcoin wallet for streets.” They are quite aggressive with this. Besides Whirlpool, they have good security protection features, such as lock up, scrumble pit, stealth mode, and more.
- Proven by time
- Useful privacy features
- Good for non-advanced users
- It’s limited to Android users only
- It supports Bitcoin only
- You must use Whirlpool every time to break a trace.
Wasabi is a different type of anonymous Bitcoin wallet. It’s a desktop wallet for Bitcoin that uses coinjoin (mixing) technology to prevent the tracing of Bitcoin transactions.
- Proven by time
- Desktop only
- Slow and expensive
- Not easy to use, primarily for advanced users.
|Incognito Wallet||Samourai Wallet||Wasabi Wallet|
|Anonymity tech||Ring CT||Whirlpool||CoinJoin|
|Lost mode feature||no||yes||no|
|Buy Bitcoin anonymously in app||Incognito DEX||no||no|
|Supported coins||BTC, ETH, ERC20, BNB, XMR||BTC||BTC|
|Invest Bitcoin anonymously and earn interest||11% APY||no||no|
|Fee paid per one BTC transaction||$0.00001||$0.3 - $12||$0.3 - $12|
|Supported platforms||iOS, Android, Web||Android||Desktop|
Share your top
Those are my top 3 anonymous Bitcoin wallets for 2021, but I’d love to know your thoughts.
- What are your top 3 anonymous wallets and why?
- Which parts of my description you agree/disagree with and why?
Let me know in reply to this post!