What is JoinMarket?
JoinMarket is a decentralized CoinJoin protocol. Unlike Wasabi or Whirlpool, which use a central coordinator, JoinMarket creates a market where Takers (who want privacy) pay Makers (who provide liquidity) to mix coins together.
Makers (Yield)
You leave your PC running. Your coins sit in the wallet waiting to be mixed. You earn fees when others mix with you.
Takers (Privacy)
You pay a small fee to Makers. Your CoinJoin happens immediately. You get privacy on demand.
Advanced User Warning
JoinMarket usually requires a Bitcoin Full Node (Bitcoin Core) running on your machine. This is the most secure way to use Bitcoin but requires ~600GB of disk space.
Setup Guide (Using Jam)
Note: We will use Jam, a beautiful web-UI for JoinMarket, as the command line version is too complex for most users.
1 Step 1: Install Jam & JoinMarket
Jam is a software wrapper that installs JoinMarket and provides a graphical interface.
Download
Download the latest release from the Jam Official Website or GitHub.
Connect Node
Ensure Bitcoin Core is running and fully synced on your computer. Jam will automatically detect it.
2 Step 2: Create Wallet & Mixdepths
JoinMarket uses a concept called Mixdepths (Account pockets) to separate your funds.
- Create Wallet: Follow the prompt to generate a seed phrase. Write it down securely.
- Fund Wallet: Send Bitcoin to the address provided in "Mixdepth 0".
- Do NOT Cross: Never send funds from Mixdepth 0 to Mixdepth 1 manually. The software moves them during mixing. Manual movement destroys privacy.
3 Step 3: Option A - The Taker (Send with Privacy)
Use this if you want to pay someone (like a market) privately.
- Go to the Send tab in Jam.
- Toggle CoinJoin on.
- The software will automatically find Makers to mix with. You will pay a small fee, and the recipient will receive mixed coins that cannot be traced to your wallet.
4 Step 4: Option B - The Maker (Yield Generator)
Use this to passive earn Bitcoin while improving your privacy over time.
1. Go to the Earn or Maker tab.
2. Toggle the switch to ON.
3. Leave your computer running. Jam will now advertise your liquidity to the network.
4. When a Taker initiates a mix, your coins will participate, and you will receive your coins back + a fee.
Where to Spend Mixed BTC
While Monero is preferred, CoinJoined Bitcoin is accepted at these major markets.
Conclusion
You have successfully learned the basics of JoinMarket. Whether you are paying for privacy as a Taker or providing liquidity as a Maker, you are helping to make Bitcoin fungible and private again.
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