BTC.com Wallet Details
Wallet name: The BTC.com Wallet
Coins accepted: Bitcoin (BTC) and Bitcoin Cash (BCH)
Linked Exchange: n/a
Countries: 25 major fiat currencies (including GBP, EUR and USD)
Languages: English, Dutch, German, Japanese, Korean, Portuguese, Arabic, Spanish, Hindi, Swahili, Chinese, French and Russian
Mobile compatibility: iOS and Android smartphones and tablets
Wallet Rating: 4/5
Wallet Type: Web-based & app-based
What is the BTC.com Wallet?
BTC.com’s open-source wallet is meant to store Bitcoin and Bitcoin Cash. it had been established in 2016 by Bitmain, giving Bitcoin owners the power to send and receive their Bitcoin via desktop and mobile devices (Android and iOS). there's a transparent emphasis on making it quick and straightforward to transact with Bitcoin and Bitcoin Cash. The BTC wallet is meant to be highly secure yet simple to use for crypto investors at any level, particularly beginners to purchasing Bitcoin.
The BTC wallet was designed as an open-source cryptocurrency wallet, with a no-frills interface that's easy to navigate and complete tasks. Bitmain are the pioneers behind the much-talked-about Antminer mining rigs, also as various other Bitcoin-related products. In some ways , the BTC.com wallet are often compared to Blockchain.info wallet because it may be a hierarchical deterministic (HD) hybrid wallet too. What does this mean for you? Put simply, once you access the BTC.com wallet via the web , the keys to your wallet are stored securely on your machine, with BTC.com having no direct access to them. The BTC.com wallet also supports multi-signature transactions, which not only provides a replacement layer of security for transactions but shares the general responsibility for Bitcoin ownership.
This BTC wallet review is meant to shine a spotlight on the key features of this leading Bitcoin wallet, also as its limitations, ensuring a 100% objective BTC wallet review.
The BTC Wallet features
Choice of coins
As cryptocurrency wallets go, the BTC wallet is somewhat limited within the number of crypto coins it supports. Bitcoin (BTC) and Bitcoin Cash (BCH) are your two options with the BTC Wallet. The wallet was first established as a Bitcoin-exclusive wallet, but more recently it's adopted Bitcoin Cash too. Bitcoin Cash may be a fork of the Bitcoin blockchain that's already growing in popularity as an emerging altcoin.
Mobile & Desktop
BTC.com’s crypto wallet is meant to act as a multi-platform wallet available to be used on your browser and iOS and Android devices.
Operating systems
The BTC wallet is meant to figure on all leading desktop operating systems (Windows, Mac) and mobile operating systems (iOS and Android).
The BTC Wallet fees
BTC.com wallet owners aren't charged fees to send and receive Bitcoin and Bitcoin Cash. The BTC.com app is liberal to download and use. Do bear in mind that when buying Bitcoin, you’ll got to make alittle payment towards the Bitcoin network. From your BTC.com account, you'll specify a fee rate supported how quickly you would like your Bitcoin. The faster you would like your transaction authorised, the more you’ll need to pay.
Security
Unlike many other Bitcoin wallets, the BTC wallet never has access to your wallet’s private keys. this provides users 100% control over the safety of their Bitcoin. Multi-sig functionality also provides a further layer of authorisation for any Bitcoin transaction.
The BTC Wallet customer support
The BTC.com customer service department is linked to Bitmain’s customer support team. you'll leave a web ticket, while the location also has a lively social media presence. The BTC.com FAQ Help Centre is extensive and may answer the foremost common issues.
Pros and Cons of the BTC Wallet
Don’t have time to read our entire BTC wallet review? Here are the most pros and cons of the BTC.com wallet:
Pros
– Underpinned by the highly-reputable Bitmain brand
– Two-factor authentication (2FA) available
– Multi-sig transactions
– Supports multiple languages
– Open-source
– Easy-to-use wallet backup and recovery
Cons
– No support for altcoins except BCH
– Only suitable for purchasing and selling small amounts of BTC and BCH
– Less secure than hardware wallets
– Cannot buy Bitcoin directly through a
BTC.com wallet
Guide to Opening a BTC Wallet
– Visit the wallet.btc.com website. Fill in your email and chosen password, comply with the terms of service and hit ‘Create new wallet’.
– Before signing in to your BTC.com wallet for the primary time, you’ll be required to download a PDF of its Bitcoin Wallet Recovery Data Sheet.
– Log in to your new BTC.com wallet and familiarise yourself with the dashboard. Start buying Bitcoin by hitting the ‘Funding your wallet’ button.
Is the BTC Wallet a scam?
There is nothing to suggest that the BTC wallet is anything but legitimate. because it is backed by the reputable Bitmain brand, BTC.com’s wallet should be a go-to Bitcoin wallet for any cryptocurrency beginner. With next to no criticism over BTC.com’s security to be found online, this is able to suggest that it's one among the more trusted crypto wallets within the industry.
A better alternative to the BTC Wallet
As online Bitcoin wallets are generally considered to be less secure than a hardware (offline) wallet, a recommended alternative to employing a crypto wallet is to take a position in Bitcoin through a broker.
eToro is that the world’s leading social trading community that brokers investments in leading cryptocurrencies like Bitcoin through the utilization of contracts for difference (CFDs). With Bitcoin CFDs, you don’t physically purchase or store Bitcoin. Instead, you'll trade its price to capitalise on market movements in its value. for instance , if you think the worth of Bitcoin will rise within the coming days, you'll place a ‘Buy’ trade. Alternatively, if you think that the worth of Bitcoin will fall, you'll place a ‘Sell’ trade.
As you never actually own the Bitcoin you purchase or sell, this is often a safer way of taking advantage of Bitcoin, without the necessity to have and use a crypto wallet. those that check in to eToro also can enjoy its well-regulated system, given its association with the UK’s Financial Conduct Authority (FCA) and therefore the Cyprus Securities and Exchange Commission (CySEC).
Conclusion
On the entire , our BTC wallet review has shown it's a no-frills Bitcoin wallet, offering impressive security options for beginners. Although multi-signature transactions and having 100% control over private keys for your wallet are good, it’s still not as secure as having a hardware wallet, leaving you more vulnerable to cyber-crime. If this BTC wallet review has deterred you from signing up for an account, don’t forget to see out our eToro review to seek out out more about employing a CFD broker to take advantage of the worth of Bitcoin.
FAQs
Is it possible to shop for Bitcoin through BTC Wallet?
No. BTC.com wallet is meant solely to store, send and receive Bitcoin, but it can't be wont to buy Bitcoin directly. If you would like to get Bitcoin and the other crypto coin using your country’s fiat currency, you’ll got to visit a cryptocurrency exchange or find a Bitcoin ATM in your area.
Do i want to pay to use BTC Wallet?
At the time of writing, BTC.com doesn't charge its users fees to use their wallet. Their mobile app is additionally liberal to download onto all smartphone and tablet devices. It’s worth noting that transactions made through your BTC Wallet incorporate network mining fees, paid to the Bitcoin network to ensure your transaction.
How secure is that the BTC Wallet?
BTC Wallet users can enjoy multi-signature transactions, where quite one individual involved during a Bitcoin transaction must agree and sign a transaction to validate it. BTC Wallet users get complete control over their private keys and enjoy hierarchical deterministic (HD) Bitcoin addresses so you simply got to create one backup address.
Is the BTC Wallet available on mobile devices?
Yes. you'll download the BTC.com wallet app which is meant for users of Android and iOS-powered smartphones and tablets.
Can you send Bitcoin on to other BTC Wallet users?
You can send Bitcoin on to contacts listed on your mobile device, providing they're also BTC Wallet users. All you would like to try to to is locate your contact from your smartphone’s address book, enter the quantity you would like to transfer and hit the ‘Send’ button. Via the wallet’s innovative HD technology, it’s possible to locate the wallet linked to your friend’s telephone number to send your Bitcoin. If you would like to send Bitcoin to a lover or loved one that’s not already a BTC wallet user, you’ll be asked to send them an invitation to download the BTC.com wallet via the ‘Tell a Friend’ function.
What if I forget my BTC Wallet password?
In the event that you simply forget or lose your BTC wallet password, you would like to form sure that you simply have the private key to your account. This key are going to be needed to reset your password. those that forget or lose their private key also as their password may struggle to retrieve their account funds and gain access to the account as an entire .
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