How to Use Onion Bitcoin Wallets for Anonymous Transactions

Onion Bitcoin wallets, also called the dark web Bitcoin wallet, is a Bitcoin wallet only accessible through the TOR anonymous network. 

Its name is derived from the fact that the connections created by the Tor are just like an onion with encrypted layers that keep the identities of the user and the activity concealed. 

Onion bitcoin wallets are additional services that offer higher levels of anonymity in addition to ensuring the safety of the users and their operations. 

Some key things to know about onion bitcoin wallets: 

• Accessible Only Through Tor: Tor browser is used by the onion wallet users to access it; it connects users via a distributed network maintained by volunteers across the world, thus it is hard to track users’ location or usage. This provides an additional level of protection to the users because no one can identify who is on the other end of the call.
• Enhanced Anonymity: Onion wallets retrieve bitcoin addresses prior to linking through Tor and in this way it almost impossible to identify the addresses to an individual. Users’ transactions and history as well as the messages are also encrypted through Tor for security.
• Strong Encryption: The messages that are exchanged through the connections of the Tor network are encrypted several times to ensure that no one drops or interferes with the message. Onion Wallet also has features of the additional encryption layer.
• Open Source code: For instance, most of the onion bitcoin wallets employ their source code where it is scrutinized by the public in case of bugs. This kind of openness regarding the code in the system is helpful for the users to trust these anonymous forums.

Some examples of popular onion bitcoin wallet platforms include: 

Hidely Bitcoin Wallet: Hidely is another recently launched wallet with a focus on privacy launched in 2020 that has the Tor network as the default routing like above examples. Here are some of its key features that differentiate it: 

Here are some of its key features that differentiate it. 

• No Sign Up Required: To gain access to the service, users download Hidely without any registration procedures or submission of their personal data for instant safe and anonymous storage of bitcoins. It also removes what might be the most frequently targeted vulnerability, which is the leaked user database.
• Built-In Exchange & Mixing: Enables direct anonymous barter between Bitcoin and Monero which is an altcoin that offers improved anonymity than Bitcoin. Also, it has a built-in coin shuffling for the efficient transfer of bitcoins from other wallets to anonymize bitcoins.
• Offline Keys and Mnemonic Seeds: Important information such as the wallet’s private key is processed offline and is never transferred to the critical devices. Backup phrase seeds employ a standard known as BIP39 that allows recovery on many wallet platforms in case of a necessity.
• Open Source & Deterministic: The code that Hidely has implemented is open for public access for auditing to find the flaws that hackers can use. Wallets are also derived from seeds for simplicity of backup and compatibility with hardware wallets.

In general, according to Hidely’s vision people will be able to have a free and secure bitcoin wallet that is as easy to use as other existing bitcoin wallets with enhanced anonymity and other features such as the ability to connect to the TOR network and providing tools for coin shuffling. 

Just how the wallet platform reacts to adversarial threats it faces in relation to security protections to its users, could define if it is a recommended onion wallet or not. 

• Dark Wallet: First developed in 2014, there are several innovation concepts of Dark Wallet that were implemented later by other bitcoin wallets. It has features such as stealth addresses and coin mixing to further its sample anonymity. Another wallet that was created for anonymity is Dark Wallet, and though the development on this project has been quite slow in the past few years, there are still users who prefer it.
• Wasabi: The application that seems to be preferred by many users because of its end-to-end privacy features is Wasabi, which has CoinJoin integrated by default. CoinJoin is developed to allow multiple users to mix the bitcoins without the intervention of any central party to hide the identity behind the addresses. Wasabi also uses only Tor as the default connection while alsostrips identifying metadata from transactions.
• Samourai: Samourai wallet therefore, is one of the most secure and private mobile bitcoin wallets available. Its main capabilities include disabling the broadcasting of Bitcoin payment to enhance anonymity, compulsory use of Tor route, and swap transactions which aims at disrupting the blockchain analysis. Has some downsides looming as a hot wallet on mobile devices, but offers the highest protection of privacy for stored bitcoins.
• MyMonero: MyMonero is a non-custodial, open source, and easy-to-use online wallet designed for the privacy-focused cryptocurrency Monero rather than Bitcoin. To hide senders and recipients and the amount they have transacted, Monero employs complex cryptographic measures by default. MyMonero does not retain any personal information of the user that would enable him/her to be identified and all requests are routed through the Tor network. It has the advantage of a Web host but with enhanced anonymity as compared to the previous interface.

There are also some controversies around potential risks with onion bitcoin wallets to consider:  

• Scams: The issue of scams and hacked wallets, and the continual draining of user funds are common to the dark web. Reviews relating to the reputability of the site are important to look for before choosing an onion wallet.
• Illegal Usage: The additional anonymity that comes with the use of onion wallets makes them a go-to choice for the purchase of unlawful products and services on markets in the dark web. These can be obtained by users at their own risk.
• Cyber Attacks: The motivation for bad actors is to operate against what they cannot track. People should follow all preventable measures as regards passwords, backup copies, encryptions, etc.

                  Create Free Hidely Onion Bitcoin Wallet

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