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Pick privacy and control your UTXOs with the latest Trezor Suite update.
An update for Trezor Suite (version 22.9.3) is now ready to install. To download and apply the update, open Trezor Suite and follow the on-screen instructions. Changes included in this update are also listed in the release notes for this version.
Trezor Suite is free to use on desktop or browser at suite.trezor.io
Try out new Trezor Suite features a week before official release when you sign up for the Early Access Program in Application Settings! Since August, we have begun releasing new updates in stages to smaller groups of users, so you may not receive the update prompt until several days after this announcement.
Coin control is an advanced feature that allows you to specify which UTXOs you want to spend in a transaction. Used properly, it can improve privacy, though we only recommend that you use it once you are familiar with the principles.
How it works
Your Bitcoin wallet balance is made up of many unspent transaction outputs (UTXOs) from incoming transactions or leftover change from outgoing payments.
When making a payment, your wallet may need to spend the contents of several UTXOs to make up the total purchase amount. Without Coin control, your wallet automatically chooses which to spend, favoring the cheapest option.
Each of those UTXOs has its own lineage of previous transactions, some of which may offer hints that reveal information about you that you don’t want to share. To protect your privacy, you can enable Coin control and specify which particular UTXOs to use in a transaction.
Specify which UTXO to use, set a fee and send. The UTXO you chose is shown as the transaction Input.
One useful application of Coin control is to manage any coins where you have been made to give up identifying documents to acquire them, such as an exchange. Keeping these coins separate through labeling and Coin control can help you stay safe if the exchange one day leaks those documents.
Using Coin control
The best place to learn how to use new features is directly in Trezor Suite. Click on the lightbulb icon in the bottom right of the app and you’ll find the following instructions in the Trezor Suite guide:
- Navigate to the Bitcoin account you want to spend from
- In the Send tab, complete the ‘Address’ and ‘Amount’ fields
- Click the Coin control button to reveal your available UTXOs
- You can then manually select the UTXOs you want to spend
- Once you’re satisfied with your selection, click Review & Send
- Then confirm the transaction on your Trezor device as usual
Remember, your choice of UTXOs must cover at least the amount being sent and the transaction fees. Avoid using low-value ‘dust’ UTXOs of 546 sats or less, as you will overpay in fees.
Take care of your UTXOs
Keeping track of your unspent outputs takes maintenance. Make effective use of the Labeling feature to know where certain outputs have come from.
To benefit from the extra privacy, you may wish to segregate UTXOs from anonymous sources on a separate wallet or behind a passphrase so they do not mix with others.
Users who don’t feel confident using Coin control can look forward to the CoinJoin mixing feature coming next year.
Display bitcoin units as satoshis
As seen in the examples, you can now display all Bitcoin balances in satoshis. A satoshi is one-hundred millionth of a Bitcoin, and makes it easier to account for smaller balances.
Enable satoshis as your unit of account by clicking on your Bitcoin balance, or by going to Application Settings and choosing from the Bitcoin units dropdown menu.
Improved exports for transaction history
Exports of your transaction history have been made more intuitive with localized timestamps, distinct rows for each output, and improved fee units and labels.
Tor progress bar
If you use Tor to protect your privacy in Trezor Suite, you will now see a progress bar which indicates the status of your Tor connection.
This is done to protect your privacy, so you don’t proceed to your accounts until properly routed through Tor.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.