Topic: What is the best way to spend BTC from an Electrum wallet with privacy? - page 2. (Read 305 times)

There is no other way but to send that first to another wallet, that's how you're going to hide your address. So, before going to a restaurant, transfer it to a wallet where you'll use it for payments and leave the rest there. Only send the amount that you may want to spend for your ease. That's why if you're going to do this, you should have planned it before going out so that you're going to check the fees.

It's not ideal to do it at most times that you'll transfer here and there because the fees are not that worth it. But if they only cost some centavos, it's easier to do that and the fees won't matter at all.

This is also a good suggestion, Binance Pay. An off chain transaction but of course, you'll have to deal with KYC and verifications.

Electrum doesn't have a conjoin feature but a wallet like Sparrow does you can consider using that, especially for your day-to-day spending. The simple way to break your connection of origin and destination to to move funds to an exchange wallet and then withdraw it back to a wallet that is destined for use on day to day and you are not concerned about showing that balance and history to anyone.

If the restaurant is using Binance which I believe most of them might use. Then you have to send the potion or the unit of Bitcoin you want to spend at the restaurant to your Binance and when you reach the place and after eating then you ask the restaurant attendant to give you their Binance Wallet ID and not the Bitcoin address but the Binance Pay ID then you send the coins to the ID and that is all. And nobody can trace and know how much coins is in your country. And if that method can't work then I don't think there is any other way again because if you mix your coins to another wallet it will delay you. Because some mixers took the whole day to mixed, just like one I used the last time. And if you use mixer, you must have two Wallets, one for spending and one doe receiving and hodling. And the spending wallet, you won't keep much coins there since you don't want the restaurant attendants to know the total amount of Bitcoin in your wallet.

Except conjoin I don’t think you can actually work it because the transaction will definitely get stored in a public blockchain and that cannot be hidden, if you try to send to another wallet address before sending to that of restaurant address then anybody that’s actually after that address information will still get it, because even if yuh use another wallet to send the restaurants the easiest way to find the main address information is to go though the the new address and see where it’s UTXO it is spending in the new transaction is actually coming from. Through the explorer one can easily see the amounts of the first wallet also, this is just more like a waste of transaction fee for privacy seriously. Better still if you’re wary of privacy in public places like this I will advice payment using fiat paper money

It would have been easier if Electrum can get its own coinjoin which would have made this easier. But you can still make use of a mixer to mix the coin. Send some of the coins to a mixer and let the mixer send you mixed coin which you can use to spend in the restaurant.

Or make use of exchange like https://exch.cx/ to convert the bitcoin (that you want to use in the restaurant) to monero and back to bitcoin and use it for the spending.

You can also convert to monero and back to bitcoin on https://bisq.network/

If you get paid in BTC address you have on an Electrum wallet, and you want to pay for someone that sells a good or service in exchange of BTC, but for obvious reasons you don't want to disclose how much BTC is your address holding to the person/entity that sells such good or service because they could easily look up your public address after you pay them on a blockchain explorer and see the funds... then how would you do this?

For example, you get paid in address A which has 0.1 BTC

You don't want to disclose you own 0.1 BTC to this person/entity, so you want to spend 200 USD on this good or service, which are like 0.004855 BTC at current rate.

How do you do this?

Should one download some of these "privacy wallets", create an address there and make a transaction with the funds you want to spend (0.004855 in this case) and then pay from that wallet's address? but the wallet has to have Android support for handheld usage then since I will pay once I arrive on the spot, not in advance.

Also, what about the fees? you lose money each time you send to the address that you want to spend from. This is problem. Also, exchange rate varies. You may send 0.004855 BTC to the new address you want to spend from, but this may be less than USD by the time you arrive (or more, but less imagine it's less)

I just don't know how to go about this, too many moving parts.