SAMOURAI WALLET- A COMPREHENSIVE REVIEW
Samourai wallet is a bitcoin wallet for the street. It is a bitcoin wallet hand forged to keep your transactions private, your identity masked and most importantly keeps your funds secure.
Samourai wallet is a mobile bitcoin wallet coded in Java for Android and the iOS version is still under development. The wallet is still in its alpha stage and a version 1.0 is soon to be released. So if you’ve been craving a mobile phone wallet, your wish is about to be granted.
Samourai wallet is solely focused on security and privacy. It has a military grade encryption and an address can’t be reused.
Samourai is one of the first, if not the first mobile wallet to incorporate segregated witness (Sigwit). Sigwit helps lowers transaction cost.
From the wallet design, it is obvious that the developers of Samourai adhered closely to the Bitcoin foundational principles of decentralization, security, privacy, openness, financial and fungibility.
Samourai allows users maintain multiple accounts even if it does not support Multsig. This means that users can’t jointly control accounts but can control two different accounts in case an account is for business and the other is personal.
A screenshot from my phone showing how straightforward and clear the Samourai’s interface is.
The Stealth Mode Feature
With this feature on, a knowledgeable investor with access to your phone will still be able to determine if the Samourai app is installed on your phone.
When the Samourai app is on stealth mode, the shortcut icon disappears from your phone’s home screen, app list, recent apps or launcher. The only way to activate the app is to correctly dial the pin like a phone number. Isn’t that wonderful?
Fees and Transactions in Samourai Wallet
Samourai monitor network conditions which help to suggest a particular smart fee. The wallet supports Replace by Fee (RBF) which allows users undershoot their fee estimation. Users are also allowed to set custom fees who wish to handle this part of the transaction themselves.
With the above features active, the transaction fee is brought to the minimum. Only small amount of bitcoin should be stored on mobile wallets.
Child pays for parent (CPFPP) transactions can also be activated even though it can be expensive. This function helps to release any incoming transactions stuck in an unconfirmed limbo because of insufficient fee. This stuck transaction can be very inconvenient for a business that is time bound.
Samourai never transmits private keys and they are stored on the user’s phone in an encrypted format.
Samourai has a military grade encryption which is encrypted on the phone using AES-256 encryption.
It protects HTTPS websites from impersonation by pinning certificate.
Samourai allows users use a secured 5-8 digits login pin to access their wallet and approve transaction. They randomized pin screen on every load to prevent any pin recording spyware.
Samourai hardens the security of your wallet by enforcing a default protection with BIP 44 and a BIP 39 passphrase.
The wallet has a function that helps users test their backups which is very critical but often overlooked.
Samourai has numerous features that will conceal your bitcoin balance and transaction history from being analysed by blockchain. It also has a device that can help hide your IP address.
For each new payment you receive, Samourai will supply you with a new address. This eradicates the reuse of address.
In other not to leak valuable metadata about you or your wallet, Samourai passes all previous transactions before building a new one.
Samourai is deterministic about its output/input positioning. This helps decrease the effect of blobkchain snooping.
The remote command is sent with an SMS containing your pin to your phone instructing Samourai to either reply with your wallet’s backup seed phrase or self destruct.
In case of a stolen phone, the remote command can be used to recover funds and also deny the thief access to them.
Note that it is possible for the wallet’s security to be compromised if it is intercepted. So it is advisable to experiment the wipe remote command before you fund your wallet to help you understand its full functionality.
Always backup your seed upon initialization.
Samourai is a well designed wallet which combines many useful tools to make it private and secure enough for users.
The interface is user-friendly and beginners can navigate through it basic tools.
Finally, Samourai is a good wallet that gives users the satisfaction they crave for. The security is standard; the privacy is on a whole different level. My only fear is, too much privacy for a business such as this can be a bit scary but above all, the advantages supersede the disadvantages.