Question on Wasabi Coinjoin \ stacker news ~bitcoin

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519 sats \ 7 comments \ @PictureRoom 6h bitcoin

I'm curious about the advantages of using CoinJoin for coins purchased from exchanges.

From my understanding, CoinJoin creates multiple UTXOs. If I were to send BTC from a KYC exchange to a Wasabi Wallet, perform a CoinJoin, and then send the BTC back to the original wallet, would that improve its privacy or make it more "non-KYC"?

Additionally, what’s the proper procedure for performing a CoinJoin with coins stored in cold storage? I'm sure it is not wise to send from a cold storage, to coinjoin, and then back to the original wallet.

I realize this might be a basic question, but thanks in advance for any insights.

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146 sats \ 1 reply \ @ama 6h

I think you might find interesting this article, and find answer to most of your questions on it:

Bitcoin Privacy 101: Key differences between a CoinSwap and a CoinJoin

0 sats \ 0 replies \ @PictureRoom OP 6h

Perfect thank you

7 sats \ 3 replies \ @ama 5h

You might also be interested in PayJoin, recently added to Bull wallet.

https://www.bullbitcoin.com/blog/bull-bitcoin-wallet-payjoin

0 sats \ 2 replies \ @PictureRoom OP 5h

This seems like a better option, from what I can understand. Solves the problem I think with what I was saying in regards to the UTXO issue.

0 sats \ 1 reply \ @PictureRoom OP 4h

@ama just realized that this is for android only. I'm an iOS user

0 sats \ 0 replies \ @ama 1h

Yes, they're Canadians, and maybe they're not confortable publishing a version for the fruit phone when the crazy guy in charge of their neighbor country might decide to invade theirs?

There are desktop wallets which already implement PayJoin, and I'm sure they'll be added to other mobile wallets as well soon.

0 sats \ 0 replies \ @TNStacker 3h

Check this out for an LN solution.

https://darth-coin.github.io/wallets/lightning-cleaning-machine-en.html