Not all cryptocurrency wallets are built with privacy and anonymity in mind. Most of them require specific personal identifiers from you, such as email addresses or phone numbers.
While this information may be helpful in the event of critical technical support, some wallets do not ask for any of these personal data. In addition, they have untraceable transaction features built into their wallets.
This article will explain the privacy and anonymity behind each cryptocurrency wallet and how it will affect the user.
What are the Most Anonymous and Privacy Cryptocurrency Wallets
Here are the NINE (9) TRULY anonymous and privacy-focused cryptocurrency wallets you can get now.
1. Wasabi
Bitcoin-only, Bitcoin-focused software wallet
Launched in 2018 and highly regarded as the most privacy-focused Bitcoin wallet, the Wasabi wallet is an open-source and non-custodial software wallet that supports desktops, mainly macOS, Windows and Linux.
Anonymity
The wallet uses the Tor network to onion-route all the traffic to and from the web, thus concealing all network communication from outside snooping and hiding your IP address.
Wasabi uses a mechanism called “CoinJoin” (optionally), which combines their coins into one single large transaction with multiple inputs and outputs, making tracing complex for anyone to follow. On top of it, it reduces the likelihood of wallet fingerprinting (identifying a wallet based on BTC transactions) by building the most common form of transaction structure.
User Privacy
Wasabi uses an alternative key derivation function called “hardened derivation” to generate new, significantly more secure addresses every time you send and receive transactions.
There is no need to furnish any personal information, and there is no need to create an account besides setting up the software wallet.
2. Exodus
User-Friendly & Modern Sleek Interface
Founded in 2015 and headquartered in Omaha, Nebraska, Exodus is a software wallet platform that provides an excellent, easy-to-use interface for beginners. In addition, it has a built-in exchange to allow users to buy and sell their crypto assets quickly. Payment methods include credit/debit cards, bank transfers and Apple Pay.
Other features include support for 200+ coins/tokens, live charts & portfolio view, 24/7 human, technical support and the ability to stake crypto on selected coins/tokens.
Anonymity
All Exodus transactions (sent or received) are anonymous on the platform, and a new wallet is always generated for each BTC transaction for an added layer of security. This means any form of wallet usage does not identify a user or reveal information if someone wants to track the transactions.
Exodus has no access to your wallet or private keys. All storage and encryption processes occur on the user’s hard drive, not the Exodus platform. Recovery of lost or forgotten wallets is made via the 12-word wallet recovery phrase.
If you want to keep your crypto assets offline, Exodus has partnered with Trezor to allow users to manage their assets from the hardware wallet, e.g. the Trezor Model T. Once connected, users can send, exchange, and receive assets while maintaining their private keys and assets offline.
User Privacy
Exodus is a software wallet anyone can install to use freely. The company values its users’ privacy and non-custodial rights so that it does not require them to furnish any personal information, and there is no need to register for an account.
3. Trezor Model T
Hardware wallet with anonymity
Trezor was founded in 2013 and is headquartered in Prague, Czech Republic. The company launched their latest hardware cryptocurrency wallet, the Trezor Model T, in 2018.
The hardware wallet is an advanced touch-screen device that allows users to store their cryptocurrencies securely offline (aka cold storage) and stores sensitive data, such as cryptographic keys used in the authentication.
The Trezor Model T hardware wallet allows up to 50 digits long of PIN code and has complete network isolation. This means no WiFi, Bluetooth, or NFC and requires users to manually install the latest firmware on the device. This is ideal for those who seek total privacy and anonymity.
Anonymity
- Trezor anonymizes all purchases after 90 days
- Can run with Tor network and VPN connections
- Pay with Bitcoin or Litecoin, or GoPay to pay with a credit or debit card
Privacy
- It uses a tamper-evident hologram sticker over the USB-C connector, so any torn, damaged, or tampered hardware wallet can be detected instantly.
- The wallet device comes with no firmware installed for security reasons
4. Samourai
Android Bitcoin-only wallet
Founded in 2015 and registered in the United Kingdom, Samourai is a privacy-focused Bitcoin wallet for Android mobile users to store and send/receive private transactions anonymously. Unfortunately, it currently has no support for iOS users.
Samourai offers several features, including Whirlpool, a strong CoinJoin mixing service, and StoneWall, which guard and deanonymizes your transactions against address clustering, metadata and other deanonymization attacks.
Anonymity
- Does not collect any personal identifying information such as Name, Email Address, or Phone Number to use the wallet
- Online sharing your Bitcoin address using the PayNym technique so no one can query your balance and transactions.
- Creates special transactions that provide substantial statistical doubt between the sender and receiver.
Privacy
- Full Offline mode
- Scrambled PIN on every load to prevent spyware such as screen recording attacks
- The Stealth mode feature removes the app icon from the home screen & drawer list. Entering the PIN on the phone dialer will bring the app up.
5. MyCelium
Mobile-based Crypto Wallet
Launched in 2012, MyCelium is an open-source mobile-based wallet that offers several types of accounts, including Hierarchical Deterministic (HD). In addition, it allows users to manage multiple accounts and not reuse addresses (BIP32, BIP4).
Mycelium wallet offers a decentralized exchange within the app itself. In addition, it has a unique local Trader feature that allows users to find people in their area for in-person trading. This is similar to the concept of the popular LocalBitcoins. The mobile app is compatible with hardware wallets like Ledger, Trezor and KeepKey.
Privacy
- No other data collection procedures
- All third-party services can be manually turned off
- Separate backup system for Single Address accounts
- Several levels of pin protection
Anonymity
- TOR network support to mask IP address and location
- No ID is required for using the wallet
- No disclosure of any other identifiers
- Pattern sniffing protection using variable keyboard layouts technique
- Direct download (APK file) is available for Android devices
6. Atomic Wallet
Buying, staking, swapping, exchanging and converting.
Founded in 2017 and headquartered in Tallinn, Estonia, Atomic wallet is a non-custodial decentralized wallet that supports over 500+ coins/tokens. Users’ funds are not stored in the wallet but are safely stored on the blockchain. The wallet is just an interface that connects the user to the blockchain nodes for showing information such as balances, transaction history, performing transactions and many more.
Some of the wallet’s features include;
- Ability to purchase cryptocurrency using credit cards and support several fiat currencies.
- Swapping and exchanging between 60+ crypto pairs anonymously
- Earning passive income through coin/token staking, including Solana (SOL) and Cardano (ADA).
Anonymity
- No account registration
- No verification
- No KYC for basic features in the wallet.
- No one can block your crypto funds.
Privacy
Your wallet’s private keys are encrypted and will not leave your device. You fully control your crypto funds. No one can see or access your funds; you are the only one with the 12-word backup seed and private keys.
7. Coinomi
Multi-Chain wallet with a Built-In Exchange
Founded in 2014 and headquartered in Roadtown, Virgin Islands, Coinomi is the oldest non-custodian multi-chain cryptocurrency wallet that supports several blockchains.
The wallet has native support for bitcoin and major altcoins and tokens. Furthermore, the wallet’s private keys will never leave the users’ devices. In addition, it has a built-in exchange where one can purchase crypto using a credit/debit card and swap between hundreds of crypto pairs quickly through various decentralized exchanges.
Privacy
Neither you nor your device will ever see your private keys. Wallet encryption and cryptography will safeguard your funds, allowing you to keep control of your funds.
Anonymity
- No need to complete KYC
- No IP address association (will not be linked to their account)
- No identity tracking
- No transaction tracking
- Users’ requests are anonymized by hiding their IP addresses from prying eyes on servers.
8. Rahakott
Online Web Wallet
Founded in 2017 and registered in Sweden, Rahakott is an online anonymous multi-currency cryptocurrency software wallet with the mixer feature. Users do not need to provide identifiers, e.g. email or phone number. Creating a new wallet takes less than a minute and is protected by a mnemonic phrase and 2FA.
With the mixing feature, users can mix multiple cryptos and send those funds to one or more destination addresses.
Anonymity
- Built-in mixer service to cover your crypto transactions
- It does not require a phone number or email
- Wallet only requires a mnemonic phrase
- A new address is generated for each transaction
- Work in virtual tunnels such as the Tor network
Privacy
- Anonymous P2P exchange between cryptocurrency to fiat and vice versa
- All data is encrypted on the servers
9. Trust Wallet
Most Crypto Assets Supported
Trust Wallet was founded in 2017 and is based in Mountain View, California. The wallet is decentralized, diverse and non-custodian and focuses mainly on mobile devices while supporting over 1 million cryptocurrencies across 53+ blockchains. Trust Wallet was acquired by the Binance exchange on 31 July 2018.
The wallet is a one-stop service to buy, store, collect NFTs, exchange & earn cryptocurrency all in one wallet. You can easily use a credit/debit card to purchase your crypto asset and swap them into another crypto using the Trust Wallet interface.
Anonymity
Trust Wallet does not ask for any KYC when setting up a new account, and, as a non-custodial wallet, it does not store any user data. It also allows users to keep their private keys locally on their devices rather than on their servers.
Privacy
The user holds all private keys; no private keys are stored on the wallet’s servers.
