Take Control of your Privacy with CoinJoin and Trezor
Have you ever heard of CoinJoin? It's a privacy-enhancing technique for Bitcoin transactions that combines multiple transactions into a single transaction, making it difficult for anyone to trace individual transactions. And if you're a Trezor user, you're in luck, because Trezor Suite has a built-in CoinJoin feature. In this post, we'll go over how to use CoinJoin with Trezor Suite in a few easy steps.
Install Trezor Suite
Before you can start using CoinJoin with Trezor, you'll need to have Trezor Suite installed on your computer. If you haven't already done so, head over to the Trezor Suite download page and follow the instructions for your operating system.
Set up your Trezor device
If you already have a Trezor device, you can skip this step. If not, you'll need to get one and set it up first. Once you have your Trezor device, follow the instructions in the Trezor Suite to set it up.
Connect your Trezor device to your computer
Connect your Trezor device to your computer using the USB cable that came with it. Make sure your Trezor device is unlocked and ready to use.
Open the CoinJoin feature in Trezor Suite
Once you've connected your Trezor device to your computer, open Trezor Suite and navigate to the CoinJoin feature. You can find it by clicking on the "Privacy" tab on the left-hand side of the screen and then selecting "CoinJoin" from the dropdown menu.
Choose your CoinJoin provider
Trezor Suite supports multiple CoinJoin providers, including Wasabi and Samourai. Choose the provider you want to use and follow the instructions provided by the provider to complete the setup process. Each provider may have different requirements, so make sure you read the instructions carefully.
Create a new CoinJoin transaction
Once you've chosen your CoinJoin provider and completed the setup process, you're ready to create a new CoinJoin transaction. Click on the "Create new transaction" button and follow the instructions provided by the CoinJoin provider.
Confirm the transaction on your Trezor device
Once you've created your new CoinJoin transaction, you'll need to confirm it on your Trezor device. Follow the instructions provided by the CoinJoin provider to do this. You may need to enter your PIN and confirm the transaction on your Trezor device.
Wait for the CoinJoin to complete
Once you've confirmed the transaction on your Trezor device, you'll need to wait for the CoinJoin to complete. This can take some time, depending on the size of the transaction and the CoinJoin provider you're using. Be patient and wait for the process to complete.
Receive your newly anonymized Bitcoin
Once the CoinJoin is complete, you'll receive your newly anonymized Bitcoin in your Trezor Suite wallet. Using CoinJoin with Trezor Suite is a great way to enhance your Bitcoin transaction privacy. By combining multiple transactions into a single transaction, it's difficult for anyone to trace individual transactions. Follow these simple steps to get started with CoinJoin and enjoy greater privacy and security for your Bitcoin transactions.
Sources:
https://trezor.io/learn/a/coinjoin-in-trezor-suite