Users can now improve the security and privacy of Bitcoin transactions thanks to Trezor’s implementation of the privacy-enabling CoinJoin feature on its hardware wallets. Users must create a new CoinJoin account and grant access to Tor, an anonymous communication protocol, in order to enable CoinJoin. Along with other account types, such as Segregated Witness (SegWit) and Bitcoin Taproot accounts, the feature is accessible. Following in the footsteps of software wallets like Wasabi, Trezor is the first hardware wallet to implement CoinJoin. Users are required to pay coordinator and mining fees in addition to sending their coins to a specific CoinJoin account.
The CoinJoin process can take several hours, and the outputs can be used just like any other Bitcoin outputs. Trezor CEO Matják stresses the importance of privacy. The CoinJoin procedure can last for a few hours, and the outputs can be used in the same way as other Bitcoin outputs. The privacy of an individual is their most valuable asset, according to Matják, CEO of Trezor.
