?>

Samourai Wallet – A Bitcoin Wallet To Keep Your Transactions Private

3 k views

The Samourai Wallet is a well established Bitcoin-only mobile wallet option for Android users. The platform combines many different features and unique functions to deliver a well-designed and useful wallet for the average user. Today, Samourai has a reputation for its ability to send and receive secure and private transactions. Additionally, it was one of the first mobile wallets to support SegWit transactions in the market. This pioneering spirit is another reason this project continues to gain momentum.

Benefits of the Samourai Wallet

The developers behind the Samourai Wallet focused on user privacy and funds’ security as their primary goals. This desire led to introducing various proprietary systems to create a robust and difficult to track wallet. Notably, Samourai is loaded with powerful features for more advanced users. Still, all of the core actions are set up so that anyone could easily complete transactions without instructions.

How Does  the Samourai Wallet Work

The Samourai Wallet is an open-source project that has undergone significant peer-based review since its introduction to the market. The platform was coded in Java, one of the most popular coding languages in the sector. When you look at the system, the first thing you notice is that the developers went to great lengths to deliver users an anonymous Bitcoin experience through various methods. As such, Samourai users gain access to some really unique features not found anywhere else in the market. 

Discretion is Step #1

One of these cool features is Stealth Mode. When you initiate this mode, the shortcut for Samourai disappears from your mobile’s display. If someone steals your phone or happens to be prying into your affairs, they will be no wiser to the fact your Bitcoin, or more accurately, your private keys, are stored there. Critically, this security feature is helpful but won’t stop anyone with the knowledge to directly search your phone’s directory.

When you want to access Samourai Wallet when in Stealth Mode, you need to dial your PIN like a phone number into the window. It’s swift and adds an extra layer of security. Ideally, this powerful feature helps to keep phone thieves out of your crypto doings.

Privacy is King

Samourai’s privacy-centric approach to Bitcoin storage is evident in every system. Each transaction allows you to choose exactly how many of the privacy features to include. Impressively, the network obscures your blockchain transaction history using BIP 126. In turn, this strategy minimizes references to past transactions from the Samourai wallet. Additionally, a new wallet address is created for every incoming transaction. In this way, Samourai manages to keep your Bitcoins hidden from hackers and thieves.

VPN and Tor Support

Samourai Wallet users can also cloak their IP addresses using VPN and TOR technologies. This technology is crucial because Bitcoin thieves are now coming to people’s homes and violently requesting a withdrawal. The combination of these technologies is very effective at keeping any unwanted guests out of your front yard.

Batch Spending

The introduction of batch spending features is another advantage that Samourai has over the competition. Batch spending protocols combine many smaller transactions into one large transaction. Combining transactions can save you as much as 30% on mining fees. Notably, Samourai was the first wallet to offer this type of transaction batching to the public.

PayNyms

The PayNyms feature allows users to receive payments without revealing their exact address. The protocol masks the details of the receiver and replaces it with a PayNyms address. Impressively, this address can be reused multiple times without harming your privacy. Developers claim that there’s no way to link it to any specific address on the blockchain.

Remote Commands

The Remote Commands feature is another advanced feature meant for only the stealthiest users. If your phone is ever lost or stolen, you can send an SMS to your wallet directly. The code will require your Samourai PIN. Once in, you can then delegate if you want to get a response with your backup wallet seed phrase or if you prefer to self-destruct the wallet all together.

This system allows you to retrieve your funds, send them to safety, and then destroy the Samourai wallet on the lost/stolen phone in minutes. Insanely, this can be set up to function even if the SIM card is removed. When you utilize this feature, the main thing to consider is that your seed phrase will be visible to anyone who may be monitoring your cell.

Ricochet feature

Suppose all of these James Bond-like features are still not enough for you. You can pay an additional charge of $2.50 plus additional mining fees to use the Ricochet feature. This protocol will route your transaction through a series of additional addresses for extra peace of mind.

Smart Fees

Samourai includes a Smart Fees feature that allows you to determine the exact fee amount you wish to pay per transaction. Nicely, the system continuously monitors network congestion to suggest an appropriate fee for the amount you want to send. Conveniently, if you mess up and send your transactions with a too low fee, you can always use the Replace by Fee feature, which allows you to bump up your fees.

How To Get the Samourai Wallet

Currently, the Samourai Wallet is only available on Android devices. You can download the Dapp directly from the GooglePlay Store for Free. Download and setup is a breeze. You will need to take a note of your seed recovery phrase and keep it safe.

How to Use the Samourai Wallet

The Samourai Wallet is designed in a manner to simplify the most important functions for Bitcoin users. You can easily send and receive payments via an address or QR code. When you send a transaction, a prompt will verify how many privacy protocols you wish to utilize. The more you choose, the harder it is to track your transactions. However, they do add a little more time to your transaction.

The Samourai Wallet is Needed

Bitcoin coin symbol
Btc
Bitcoin
$62.547
price
red chart
decrease symbol0.84959%
price change
TRADE NOW

The Samourai Wallet upholds the core fundamentals of Bitcoin. It provides true fungibility, security, transparency, financial privacy, and decentralization in an intuitive interface. Now more than ever, the value of privacy is at an all-time high. Samourai remains committed to this cause through its unique toolset designed to keep your Bitcoin’s safe.

Previous

Ledger Users Could Be at Risk of A New Phishing Scam

Next

The Wasabi Wallet – An Open-source, Privacy-focused Bitcoin Wallet

Written by

David Hamilton

@DavidtheWriter

143 posts

David Hamilton, aka DavidtheWriter, has published thousands of articles on cryptocurrencies across many top-performing platforms. In addition, he has written multiple whitepapers for successful crowdsales and has even pioneered his own token launch strategy called the ISO (Initial Story Offering).

VIEW AUTHOR

More author posts

The Top 3 Bitcoin Blockchain Explorers For Your Needs

Learning about Bitcoin blockchain explorers is a great way to further your crypto education. These helpful platforms make it easy for regular users to leverage the complete transparency of the Bitcoin blockchain. In the early days, there were only a handful of explorers available. Today, the market is full of an excellent selection of platforms that offer unique features and services. What's a Blockchain Explorer A blockchain explorer is a software program that enables users to examine specific details about a particular blockchain.…

ZenLedger – Keeping Crypto Investors out of Tax Trouble

ZenLedger is a tax software suite geared towards the DeFi and cryptocurrency communities. The protocol integrates various unique features. They enable users to save time and effort when filing their crypto holdings with tax authorities. The system is completely IRS compliant and integrates with other popular tax software. Why ZenLedger Could Help You ZenLedger serves an essential role in educating investors and providing users with crypto tax information and services. The network streamlines the process by introducing automatic forms and advanced…

LunarCRUSH – Helping Investors Decipher the Social Media Buzz

LunarCRUSH operates as a social media analytics and aggregated research tool. The platform enables users to gauge previously tricky metrics such as public sentiment towards a project. The system simplifies the process through the introduction of a proprietary scoring system and more.  LunarCRUSH continues to see growing popularity in the sector. As such, the network has expanded its efforts. Today, LunarCRUSH monitors over 30,000 links collected daily. These links span over 200 million social media posts and across +2,000 supported cryptocurrencies. How…

Top 5 Multi-Blockchain Explorers to Check Out

Blockchain explorers are a critical component of the decentralized ecosystem. These protocols enable users to search for detailed information on the blockchain, such as a transaction or wallet balance. Blockchain explorers have come a long way since crypto's early days. Here are the top 5 multi-blockchain explorers to check out. Blockchain Blockchain offers more options and networks than Blockchain.com. The network enables users to search across 17 blockchains from the convenience of one easy-to-navigate explorer. As a result, users save time and…

Never Miss a Crypto Event Again – Coinmarketcal

Coinmarketcal supplies valuable information about crypto-related events to the market. The network was born out of a desire to provide an organized location. There, investors could find vital data about the ever-expanding crypto market. Today, the platform offers an extensive suite of features. These services enable investors to monitor for potential catalysts across the entire industry. History of the Coinmarketcal Coinmarketcal entered the market in 2017 to create one place to find all helpful crypto-related events. At that time, the market was going…

Open Sea – A Pioneer in the NFT World

Open Sea is one of the most reputable NFT marketplaces in existence. The network enables users to buy, sell, and explore collectibles, game items, Art NFTs, and various other digital goods. Notably, Open Sea was the first NFT marketplace to enter the market. This pioneering spirit enabled the platform to establish and maintain a dominant position in the market.   Today, Open Sea still operates as the largest NFT marketplace in terms of the daily trading volume. The network has +4 million…

Publish your own article

Guest post article. Guaranteed publishing with just a few clicks

START PUBLISHING ADVERTISE WITH US

Browse categories

Explore trending topics in the crypto community right now.

Bitcoin

SEC Greenlights Multiple Bitcoin ETFs, Signaling Major Leap for Cryptocurrency Markets

The U.S. Securities and Exchange Commission (SEC) has made a landmark decision by approving 11 spot bitcoin exchange-traded funds (ETFs). This move represents a significant moment in the cryptocurrency industry, marking a shift towards greater institutional adoption and accessibility for investors. The approved ETFs include products from major firms such as BlackRock’s iShares Bitcoin Trust, Grayscale Bitcoin Trust, ARK 21Shares Bitcoin ETF, Bitwise Bitcoin ETP Trust, WisdomTree Bitcoin Fund, Fidelity Wise Origin Bitcoin Trust, VanEck Bitcoin Trust, Invesco Galaxy Bitcoin…

Bitcoin Should be Banned in the United States: Charlie Munger

Berkshire Hathaway’s vice chairman, Charlie Munger, called for a ban on cryptocurrency in the United States on Monday, similar to the one in China.  In an op-ed published with the Wall Street Journal, Munger argued that Bitcoin isn’t a currency, commodity, or security, but simply a form of gambling “ with a nearly 100% edge for the house. As such, the enactment of a federal law should ban such things from happening. Munger cited the Chinese communist party’s ban on…

Tesla’s BTC Positions Remained Unchanged in Q4 of 2022

According to a new earning report from automotive manufacturer Tesla, the company did not sell any of its BTC holdings in the fourth quarter of 2022. Amid speculations that the company had traded BTC during the testing bears, CEO Elon Musk revealed it was yet holding on to its BTC stash. Tesla Maintains Holdings After Initial Sell-Off In Q2 of 2022, Tesla opted to sell 75% of all its BTC. The car manufacturer received close to $950M in exchange. Notably,…

Here’s When Grayscale Debates the SEC in Court on its Bitcoin Spot ETF

The District of Columbia Court of Appeals has marked a date for when Grayscale and the Securities and Exchange Commission (SEC) may present oral arguments regarding the approval of a Bitcoin spot ETF.  Each side will present its case at 9:30 am ET on March 7, with the SEC arguing against the product, and Grayscale arguing in favor.  Grayscale VS SEC The court date – revealed in a court order filed on Monday according to CNBC – is much earlier…

MORE ARTICLES

Ethereum

Ethereum’s Zhejiang Staking Withdrawal Testnet for Shanghai is Live

At 15:00 UTC on Wednesday, the much-anticipated Zhejiang testnet for staking withdrawal went live on Ethereum’s Beacon chain. Zhejiang will enable the testing of the Ethereum Improvement Proposal (EIP) 4895 which allows for staking withdrawals. This is in preparation for the network’s next major update, the Shanghai hard fork slated to launch sometime in March. Users Can Make Simulated Withdrawals with Zhejiang In a tweet yesterday, DevOps engineer at Ethereum foundation Barnabas Busa gave details about the Zhejiang testnet slated…

Ethereum Devs Disagree Over Technical Tweak as Shanghai Upgrade Nears

Post-merge Ethereum users have been eagerly awaiting the commencement of the network’s next major upgrade, Shanghai. However, after over 3 months of prep time, it appears the Shanghai rollout isn’t going as smoothly as expected. What Exactly is the Shanghai Upgrade? In September last year, the much-publicized Ethereum Merge also known as the Ethereum 2.0 upgrade went live. Ethereum underwent some significant changes as its consensus mechanism transitioned from proof-of-work to a cost-efficient proof-of-stake system.  However, since the Beacon launch…

FTX Hacker Converts 50k Stolen ETH to BTC

Per a report from blockchain analysis firm Chainalysis, the attacker behind the Nov 11 FTX exploit, is converting the stolen ETH to Bitcoin. There were muted fears the seemingly inexperienced perpetrator could dump all its ETH holdings. On Sunday, the attacker dumped 50k ETH on-chain, with ETH's price dipping by almost 7%.  https://twitter.com/chainalysis/status/1594349583416840199?s=20&t=pgvQHeVytI20eKQ1ls9bxw Hacker Moves 50,000 ETH to New Address Over the past week, the perpetrator had been steadily swapping the cryptocurrencies they had carted off for Ether tokens. This…

Censorship Concerns: 51% of Ethereum Blocks Now OFAC Compliant

According to new data, over half of the blocks on the Ethereum network now reportedly comply with the US Treasury OFAC’s standards. This comes roughly a month after the platform’s monumental merge update. Phasing Out Tornado Cash The Office of Foreign Assets Control is the intelligence and enforcement agency of the US  Treasury Department. Indeed, the OFAC administers and enforces US  financial sanctions. A prime example of this is the recent, highly-publicized ban on crypto mixer Tornado Cash.  According to…

MORE ARTICLES

Trading

How to Leverage Arbitrage Opportunities in Crypto Markets

Cryptocurrency arbitrage has become an increasingly popular investment strategy as the crypto market grows and evolves. Arbitrage involves taking advantage of pricing discrepancies between markets or exchanges to profit.  Investors can leverage profit opportunities by understanding cryptocurrency arbitrage while managing associated risks. In this guide, we'll explore cryptocurrency arbitrage and how it works. A Bitcoin-related example will help us illustrate the concepts of this strategy. What is Arbitrage and How Does it Work in Crypto Markets Crypto arbitrage trading is…

The Different Types of Copy Trading in Crypto

Are you interested in trading cryptocurrencies but feel intimidated by the complexity of the process? Copy trading is a great way to get into crypto without needing to be an experienced trader. With copy trading, investors can benefit from the experience and knowledge of more experienced traders, allowing even beginners to succeed. How does copy trading work, and which tips do you need to know to succeed? In this article, we'll explore all aspects of copy trading in crypto. What…

How to Spot an Unsafe Crypto Exchange

Cryptocurrency exchanges have become increasingly popular as they provide a platform for people to buy and sell digital assets. Unfortunately, not all crypto exchanges are safe or reliable.  With the rise of cybercrime and fraud, you must learn to spot an unsafe crypto exchange before investing your money. This guide will help beginners identify and avoid potential risks when selecting a cryptocurrency exchange.  The Role of Crypto Exchanges on the Digital Assets Market Cryptocurrency exchanges play a crucial role in…

What Is Grid Trading in Crypto?

Crypto grid trading has become a popular strategy because of its ability to help traders capitalize on market volatility. Grid trading means you can produce consistent profits by taking advantage of price differences in different markets or time frames. By establishing buy and sell orders at predetermined intervals, you can take advantage of these fluctuations in an automated way. This guide will explore the different aspects of grid trading and provide an overview of its benefits, challenges, and more. Through…

MORE ARTICLES

Tech

Introducing una Messenger: A Paradigm Shift in Blockchain Connectivity

The digital landscape is set for an unprecedented transformation with the introduction of una Messenger, the latest innovation from web3 development powerhouse Wemade. This platform represents an evolution of the "PAPYRUS Messenger," serving as the cornerstone of the ambitious "unagi" initiative, aimed at catalyzing the mass adoption of blockchain technology. The "Unbound Networking & Accelerating Growth Initiative" seeks to bridge the divides between diverse blockchain services and networks, heralding a new era of interconnectedness. A New Frontier in Blockchain Communication…

Bit2Me Champions WEMIX Token in Pioneering European Listing

Bit2Me, Spain's premier virtual asset exchange, has recently broadened the horizons for cryptocurrency enthusiasts by listing WEMIX, the cornerstone token of the WEMIX3.0 blockchain ecosystem. This marks a notable achievement as WEMIX's inaugural venture into the European market, emphasizing the token's role in facilitating a range of blockchain-based activities, from gaming transactions to decentralized finance (DeFi) applications. Launched with the intention to democratize access to WEMIX for the 450 million Spanish speakers around the globe, this strategic move aligns with…

CryptoVirally Expands with Fresh Crypto Marketing Offers and Cointelegraph Upgrades

In an exciting update for the cryptocurrency marketing landscape, CryptoVirally has announced a series of new entries and enhancements to its already comprehensive range of services. These updates, aimed at providing tailored marketing solutions for crypto projects, include new limited-time offers and expanded options for Cointelegraph publications. Limited Offers: A Game-Changer in Crypto Marketing  CryptoVirally's limited offers section presents an enticing opportunity for crypto projects to leverage high-impact marketing services at discounted rates. These offers, available for a limited period,…

Breaking Boundaries in Blockchain: WEMIX’s ‘una Wallet’ Sets New Standard for Multi-Chain Asset Management

The WEMIX Foundation has unveiled 'una Wallet,' a revolutionary digital wallet designed to offer unparalleled convenience and security in managing digital assets across various blockchain networks. The announcement, made on January 17, 2024, signifies a new era in the seamless integration of multiple blockchain protocols, including Arbitrum, Avalanche, BNB Smart Chain, Ethereum, Kroma, Optimism, Polygon, and WEMIX3.0. 'una Wallet' is more than just a digital wallet; it represents the culmination of WEMIX's innovative efforts in the blockchain space. It serves…

MORE ARTICLES