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Wasabi Wallet – Complete Overview and Installation Procedure.

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For starters, Wasabi Wallet is a privacy-focused Bitcoin Digital wallet. It is a software-based wallet and you can use it to store, monitor, and manage your Bitcoins using this one. It is currently available for Windows, Linux, as well as the macOS and, is not available as a mobile wallet because of lesser security and […]

The post Wasabi Wallet – Complete Overview and Installation Procedure. appeared first on CoinTikka.

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For starters, Wasabi Wallet is a privacy-focused Bitcoin Digital wallet. It is a software-based wallet and you can use it to store, monitor, and manage your Bitcoins using this one.

It is currently available for Windows, Linux, as well as the macOS and, is not available as a mobile wallet because of lesser security and other technical reasons.

Let’s Dive in deeper and know about the features of the Wasabi Wallet:

Validation:

The Wasabi Wallet is using a unique and new type of validation that uses a central server anonymously facilitating communication over the Bitcoin Peer to Peer (P2P) Network and Tor.

Wasabi wallet only supports bitcoins and can facilitate trading. A feature that we at CoinTikka personally like is that it has a Private key which basically means that the user is the one who has the access and can keep it – It is personal.

Privacy Focused:

Privacy can be considered as more of a relative factor based on Bitcoin. However, we know that BTC can use a bigger and better level of anonymity.

In fact, if you have been following bitcoin closely you could be well aware that the Bitcoin Core Protocol has not really changed over the last few years. But that does not mean the tools used have not.

While it is not bad to admit people complaining of their losing privacy, a lot of replaceable tools have been released which are open source too.

Wasabi Wallet is the by-product of various such open source developers who have made the Wasabi desktop Bitcoin Wallet.

Technical Specifications and Overview:

Wasabi Wallet is available for the 3 major platforms – Linux, Windows, and macOS.

The Wasabi wallet, however, is not available as a mobile wallet because the team felt that it is not yet secure enough (as privacy is one of their core focus).

Not only this, but they have also admitted that it might not be available as a Mobile wallet anytime soon too. 

Wasabi uses a central server anonymously and is based on Bech32 only.

The only problem it could practically face is from sources that might not have yet implemented Bech32 while receiving funds from an exchange.

Which is something you would not be doing when funds are sent from a centralized server exchange, right?

Usage:

In spite of having so many advanced and privacy-focused features, using Wasabi is as easy as using any other desktop client. The user interface is clean and simple and you can get hold of it really soon.

The prompts are also very snappy and smooth. The installation process is fairly easy and if you have installed any other bitcoin wallet, for example, Electrum, you won’t have any problems.

wasabi wallet backup

You will be needing your 12-word seed after creating your bech32 address. For this you will have 2 choices:

  • Create a New Wallet
  • Import an Existing Wallet

So, you could say that Wasabi is one great way to make bitcoin anonymous again. Coinjoin is the tech behind Wasabi, which is a very good and privacy-enhanced way to send your Bitcoins safely and securely.

Installation Procedure – How to Install Wasabi Wallet?


Step 1:

The first thing that you need to do is go to the website and download the Wasabi Wallet.

A quick note: There are a lot of Fake Websites that are launched and shut down every now and then, so it is necessary to not get fooled by such websites.

Their Original Web address is wasabiwallet.io (Once again, double-check and ensure that you are downloading and installing the software from the right website)

After you download and install the software, you need to spare some time for it to synchronize with the main network and connect to the peers, after which it is ready.

You then need to accept the Terms and Condition which will be the first screen that you will see when you open it for the first time.

wasabi wallet T&C

Now go hands down and generate your wallet, after choosing a strong password. It is also advised that you note down your seed in a secure place so that you don’t miss out on it later.

wasabi wallet create

Step 2:

After you have created the wallet, it is always recommended to test your password, as it might happen that you could have typed a letter or 2 wrong, unintentionally and Without the password, you won’t be able to open your wallet hence test the password.


Step 3:

Now is the time. Once you see that all the systems are ready, you need to press on receive and generate your receiving address.

Step 4:

Now you can send your Bitcoins to your receiving address. Once you send them and after confirmation, you have to click on CoinJoin.

At this point, you can check your Privacy Rating which would most probably be showing Red X Shield with an anonymity set of 1.

If you are wondering what anonymity means, consider it as a rating or something which resembles a mixed level of anonymity.

  • The Yellow shield represents an anonymity mix in between 2 to 20
  • The Green shield represents an anonymity mix in between 21 to 49. 
  • The Green Shield that has a Check Mark is recommended and has an anonymity mix over 50.

Step 5:

Now you need to press select all and enter the password that you had previously set and then hit Enqueue Selected Coins.

This is a bit time consuming and so if you feel drowsy, you may want to grab a cup of coffee or maybe go on a walk.

Step 6:

Now you will see a pop up on your status bar which would be saying that “coins are enqueued and waiting to be mixed”.

You can also hit and press the giant shield to change your anonymity that is below in the form of a circle.  However, we at CoinTikka recommend keeping it at 50. 

Once the number of registered peers hit 100 the CoinJoin will start right away. If the registered peers do not hit 100/100, don’t worry, Coinjoin will start automatically once the registration timer is up.

Step 7:

Crucial Moment. Wait and see the trustless mix begin!

Step 8:

Once Coinjoin is complete (this depends on the amount you are mixing), your task is complete. The trustless method will automatically divide your coins, following the nature of CoinJoin.

If there are Bitcoins that are still remaining which have not reached your preferred anonymity and you have a rush, it is recommended to select all non-private and then only queuing the BTC which are remaining.

Step 9:

A feature that we love is that you can also send Bitcoins which you already consider private enough to be sent when others are still joining CoinJoin. To do this, you need to navigate to send > Select > Enter your password

Having learned about the installation process, let’s have a look at the pros and cons of using wasabi as a wallet.

Pros and Cons:

Pros of Wasabi Wallet:

  • Very simple to use
  • Easy to install
  • Cheap with a 0.15% transaction fee
  • Privacy Focused
  • Uses Tor Automatically

Cons of Wasabi Wallet:

  • You need a minimum transaction value of 0.1 Bitcoin
  • If you do an extreme investigation and in-depth analysis, you may find some traces of transaction
  • Active Sybil Attack can be done by the Co-Ordinator against specific coins.
  • People often say that Zero Link Protocol is not fully ready for commercial usage and some vulnerability keeps popping up every now and then.

Final Thoughts:

While Wasabi Wallet is really interesting and has a lot of demanded features, work can still be done on areas such as User Interface, Performance, and Stability too.

It is highly plausible that the Wasabi team to increase the much-needed privacy that users demanded it has a lot of potentials to get a much bigger user base.

It has the ability to sway user installs from its competitors. The ever-expanding set of features the team is offering since 2018 is at least worth a try.

That covers and wraps our review of the Wasabi Wallet. Share your thoughts with us and if you have any doubts or queries, feel free to comment them down below. We will help you with the same.

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Source: https://cointikka.com/wasabi-wallet/

Blockchain

Binance to cease these crypto-derivative offerings in Australia

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Once upon a time, regulators around the world weren’t confident about handling the crypto-ecosystem. This attitude, however, has changed of late thanks to the industry’s growth and the interest it has seen from traditional institutions and major investors.

The aforementioned change isn’t universal, alas, with some crypto-entities still coming under a lot of regulatory fire. Binance is a case in point. The platform has come under increased scrutiny from a growing number of regulators worldwide, including regulatory authorities from the U.K, the U.S, the Netherlands, and Canada.

Australia too has now been added to this ignominious list.

According to an official announcement made by the exchange, Binance will no longer offer Futures and Options trading in Australia. It read,

“As Binance constantly evaluates its product and service offerings to comply with local regulations, we will cease offering the following products to existing Australian users: Futures, Options, Leveraged Tokens”

Moreover, it revealed that ‘existing Australian users will have 90 days to reduce and close their positions for these products.’ Post 23 December, users will no longer be able to manually reduce their positions, and all remaining open positions will cease.

What does this mean for Binance and its executives?

Well, the aforementioned step is in alignment with its executives’ aim – To create a sustainable ecosystem around blockchain technology and digital assets. In fact, according to one of its executives,

“Binance welcomes developments to our industry’s regulatory framework as they pose opportunities for the market players to have greater collaboration with the regulators. We are committed to working constructively in policy-making that seeks to benefit every user.”

This move followed last month’s restrictions on Options, margin products, and leveraged tokens (New accounts were barred from engaging in).

And the “nightmare” continues… 

Binance took a similar hit in a different part of the world less than two weeks ago. It discontinued support for trading pairs in the Singapore dollar (SGD), again due to regulatory crackdown(s).
Binance found itself in troubled waters earlier this year, with regulators around the world zeroing in on the top exchange. The regulatory pressure forced the leading crypto-company to adopt a proactive approach to compliance. That being said, the jury is still out on whether these steps have been making any difference?
Moreover, US authorities are probing possible insider trading and market manipulation allegations involving Binance. The exchange, for its part, has denied these speculations. Binance has a “zero-tolerance policy for insider trading,” a statement said.
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Source: https://ambcrypto.com/binance-to-cease-crypto-derivative-offerings-in-australia

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Blockchain

Robinhood Testing New Cryptocurrency Wallet as Demand Rises

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The millennial-focused trading portal is edging closer to launching a long-awaited app that will enable its growing user-base to send and receive cryptocurrencies.

A beta version of Robinhood’s iPhone app showed the company’s latest upgrades on the new digital asset features, according to Bloomberg.

There is a hidden image showing a waiting list for users eager to get their hands on the app and code referring to crypto transfers, it added.

Delving Deeper into Crypto

Robinhood users can already buy and sell cryptocurrencies on the platform but they need to convert them to and from USD. With a native app, users will be able to send crypto assets to each other directly and set up two-factor authentication for additional security.

Robinhood Chief Executive Officer Vlad Tenev stated that adding crypto wallets is a priority for the company’s developers and they are actively working on such.


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“The ability to deposit and withdraw cryptocurrencies is tricky to do with scale, and we want to make sure it’s done correctly and properly.”

He did not specify a launch date, but the beta app leak suggests it is not too far away. Users of the new functions will need to activate crypto sending and receiving and the registration page will require an identity check, the report added.

On Sept. 11, CryptoPotato reported that Robinhood had launched incentives to promote longer-term cryptocurrency investing. The zero-fee recurring purchase feature enables users to schedule digital asset purchases for regular intervals with buys as low as a dollar.

This will encourage customers to build their cryptocurrency portfolios over time and “become a whole coiner,” stated Robinhood.

Robinhood Users Hungry For Crypto

Cryptocurrency trading has been one of the biggest drivers of revenue for Robinhood this year. Dogecoin has been the crown jewel, according to the company. It reported that 62% of its $233 million in second-quarter crypto income came from DOGE trading.

It added that more than half of all transaction-based revenue on the platform came from digital asset trading. The firm did warn that Q3 would not be as prosperous due to “seasonal headwinds and lower trading activity across the industry.”

Robinhood share prices have already fallen 43% since their all-time high of a little over $70 in early August. They are currently trading down 1.68% since Monday’s open at $40.70 according to Yahoo! Finance.

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Source: https://cryptopotato.com/robinhood-testing-new-cryptocurrency-wallet-as-demand-rises/

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Blockchain

Snoop Dogg Reveals His Connection With Twitter Account on NFTs

Snoop Dogg Twitter

Rate this post American rapper Snoop Dogg tweeted on Monday that he’s the owner of a Twitter account that talks about nonfungible tokens (NFTs). The account, named @CozomoMedici, shares “insights and tales from the wild world of NFTs” and has 27.7K followers at the moment. Snoop Dog Claims to Be Popular NFT Advocate on Twitter Snoop Dogg left the crypto community stunned this week after he revealed himself as the owner of a Twitter account dedicated to NFTs.  The account Cozomo de’ Medici, named after an Italian banker, is only a month old. However, it has already garnered attention from industry watchers and even a mention from crypto-focused news outlet The Block.   According to The Verge, the person behind the Medici account had been creating hype around their real identity for “at least a few days” and even conducted a poll for their followers to take a guess. The poll featured Democratic congresswoman Alexandria Ocasio-Cortez and Matt Bellamy, the lead singer of the rock band Muse. Snoop, however, was not mentioned in the poll. On September 20, @CozomoMedici tweeted that they were about to reveal their identity from their account. Shortly after, Snoop Dogg tweeted “I am @CozomoMedici.”   Interestingly, after making this revelation, the Medici account bought two weed-themed collectibles from an artist named NyanDogg, The Verge reported. Additionally, Snoop’s alleged OpenSea account has been sent  “a cloud of blunt and Snoop-themed NFTs” following the reveal. Is Medici Account an Elaborate Prank? The Medici account could likely turn out to be an elaborate prank, one that Snoop might have engineered himself or just participated in. Many reactions to Medici’s reveal have also expressed skepticism about Snoop’s involvement. “I have a hard time accepting that this account is Snoop Dogg. Like seriously Snoop Dogg muted his live stream for a week (?) by accident. And he is that deep into NFTs out here owning crypto punks… Owning Eth using OpenSea. Would love that to be true but I can’t believe it,” Twitter user @Brandolf485 wrote in the comments. Nonetheless, the crypto community will have to continue looking for concrete proof till Snoop’s involvement with the account is confirmed. 

The post Snoop Dogg Reveals His Connection With Twitter Account on NFTs appeared first on Cryptoknowmics-Crypto News and Media Platform.

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American rapper Snoop Dogg tweeted on Monday that he’s the owner of a Twitter account that talks about nonfungible tokens (NFTs). The account, named @CozomoMedici, shares “insights and tales from the wild world of NFTs” and has 27.7K followers at the moment.

Snoop Dog Claims to Be Popular NFT Advocate on Twitter

Snoop Dogg left the crypto community stunned this week after he revealed himself as the owner of a Twitter account dedicated to NFTs. 

The account Cozomo de’ Medici, named after an Italian banker, is only a month old. However, it has already garnered attention from industry watchers and even a mention from crypto-focused news outlet The Block.  

According to The Verge, the person behind the Medici account had been creating hype around their real identity for “at least a few days” and even conducted a poll for their followers to take a guess. The poll featured Democratic congresswoman Alexandria Ocasio-Cortez and Matt Bellamy, the lead singer of the rock band Muse. Snoop, however, was not mentioned in the poll.

On September 20, @CozomoMedici tweeted that they were about to reveal their identity from their account. Shortly after, Snoop Dogg tweeted “I am @CozomoMedici.”

Interestingly, after making this revelation, the Medici account bought two weed-themed collectibles from an artist named NyanDogg, The Verge reported. Additionally, Snoop’s alleged OpenSea account has been sent  “a cloud of blunt and Snoop-themed NFTs” following the reveal.

Is Medici Account an Elaborate Prank?

The Medici account could likely turn out to be an elaborate prank, one that Snoop might have engineered himself or just participated in. Many reactions to Medici’s reveal have also expressed skepticism about Snoop’s involvement.

“I have a hard time accepting that this account is Snoop Dogg. Like seriously Snoop Dogg muted his live stream for a week (?) by accident. And he is that deep into NFTs out here owning crypto punks… Owning Eth using OpenSea. Would love that to be true but I can’t believe it,” Twitter user @Brandolf485 wrote in the comments.

Nonetheless, the crypto community will have to continue looking for concrete proof till Snoop’s involvement with the account is confirmed. 

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Source: https://www.cryptoknowmics.com/news/snoop-dogg-reveals-his-connection-with-twitter-account-on-nfts/

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