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COURSE 2 - 8.2.2. CoinJoin: 1st step (all participants)

QUICK INFO:

  • Please note: to keep the description short and focused on the CoinJoin procedure, here transactions are described for single-signature (i.e. standard), hot Electrum wallets. However, for security reasons transactions should be air-gapped and wallets should be multisig.

  • Each participant in the CJ transaction: in Electrum, "Addresses" > copy the address of the first available green address (i.e. the first available address with no transactions: not the one with zero balance) > "Send" > paste address > write the exact amount of the CJ transaction agreed with the other participants (in this case, 0.0012 btc) > "Pay..." > "Advanced" > choose fee > "Finalize" > "Export" (do not sign!) > "Export to file" > choose directory > "Save"> then send the unsigned transaction (".psbt" file) to the leader in an encrypted way, e.g. via email.

1st STEP: all participants in the Bitcoin CJ transaction set up a transaction of EXACTLY THE SAME NUMBER OF SATS towards themselves (more specifically: towards the next available green address of their wallet), but WITHOUT SIGNING IT.

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