How To Use BlockWallet’s Privacy Pools

BlockWallet’s privacy pools work by using smart contracts to group the users' funds together. Funds are deposited into a smart contract and can be later withdrawn to a new address. zkSnark technology allows users to prove that they have funds deposited into the contract. Every time you want to withdraw your funds, BlockWallet creates a new wallet address for you containing the amount of cryptocurrency you requested. Transfers are mixed within the pool to ensure that they remain anonymous and untraceable at all times.

Here’s how to reclaim your financial privacy using BlockWallet:

• Click Privacy in BlockWallet’s main menu

• Click Blank Deposit to initiate a deposit into the privacy pool.

• Select the asset you wish to deposit and click Next

• Select how much of the asset you wish to deposit and click Next.

• Set your gas fee and press Confirm.

• To make a withdrawal, select Withdraw on the privacy menu.

• Select the amount that you want to withdraw and press Next.

• Choose whether you want to withdraw to an existing wallet or a fresh address.

• For this example, we’ll withdraw to a fresh Blank Wallet address. Create a new account if necessary and select it.

• Press Confirm to initiate the withdrawal.

After the transaction is confirmed, your desired asset will be withdrawn to the target address with no links to the previous wallet. 

While Blank Wallet offers an optimal standard of baseline privacy, many recommended practices increase privacy and security on the blockchain. Please see this guide on how to use our privacy pools effectively.