FAQ

What is Samourai Wallet’s WhirlPool?

Given the vast number of Bitcoin wallet solutions, it is difficult to stand out among the crowd. Samourai Wallet never had any issues in that regard. Not only is it one of the most secure – and borderline paranoia – Bitcoin wallets today, but their CoinJoin is also getting a lot of attention. So much even that Whirlpool is a solution most people will gladly take note of in the weeks and months ahead. 

What is CoinJoin Again?

A lot of people who have never looked into cryptocurrency may not be familiar with CoinJoin. It is a technology solution designed to remove traces left behind by current and future Bitcoin balances. In the case of Samourai Wallet, it is a solution which has been natively built into the wallet quite some time ago. It is also one of the features which makes this particular wallet so popular with the large crowd. 

Many people think this technology is akin to Bitcoin mixing. In a sense, that is somewhat correct, as the end result is largely the same. Users can break the link their coins leave behind without having to rely on external online or darknet-based services.  Even so, there is a chance CoinJoin will be broken and the taint could be reinstated by blockchain analysis firms. As such, this solution is of great interest, although it is not necessarily perfect either. 

WhirlPool by Samourai Wallet

Rather than just naming the service CoinJoin, the Samourai Wallet took a slightly different approach. Their implementation of this technology is known as Whirlpool. It is also a solution which has its own desktop client, which can be linked to the mobile integration in the wallet itself. This allows users to properly remove the taint from their Bitcoin balances accordingly. From a privacy point of view, this is certainly a step forward from other solutions. Additionally, it seems unlikely that this solution will be removed. True Bitcoin mixers have faced significant scrutiny in the past few months,  leading to the demise of several of them.

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What Makes it Different?

There are several key factors which make Whirlpool stand out from other similar solutions. First of all, the Samourai Wallet team claims there is ample liquidity for users to benefit from. With three different liquidity pools to support the cycling of coins through Whirlpool, it seems users will benefit from fast transactions at all times. Users can choose their own pool depending on the number of coins to be cycled and the number of outputs required. 

Secondly, the team is confident they can beat all other mixing services in terms of transaction speed. Whirlpool is designed to offer cycled coins back to the user within minutes, rather than hours. That in itself is a very interesting statement, considering how mixing services usually require a ton of time to remove all taint from the original transaction. Whirlpool’s mobile-first approach plays a crucial role in this regard.

Last but not least, it is pertinent to maintain cheap fees. No one wants to pay 3% or more of their initial balance simply to cycle coins. Through Whirlpool, users will be subjected to a fixed fee regardless of the amount of Bitcoin they want to cycle through this service. This is a surprising approach, primarily because these fees are what make the services tick. Then again, Samourai Wallet is about more than just CoinJoin. 


Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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