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Greenbits Bitcoin Wallet Review

Greenbits Bitcoin Wallet Review

Author
  • Reliability
  • Security
  • Transparency
  • Exchange Fees
  • Customer Support

GreenBits is basically a multi-signature wallet that supports hardware wallets like TREZOR and Ledger. GreenBit is simply a free application for android that provides with a bitcoin wallet. This includes your own Bitcoin address and option to send and receive Bitcoins within few seconds. It can be easily downloaded from the Google Play.

SERVICES AND FEATURES

It offers a great variety of services and features and they are listed as follows: –

  • It comes with the SPV validation client-side.
  • For additional security and privacy, you can simply connect with your own bitcoin full node.
  • It does have an easy paper wallet back up option through phone, SMS and E-mail.
  • You can easily get the instant transaction confirmation that usually comes up with GreenAddress attestation.
  • In case of services disappearance, funds can easily be recovered using nLockTime transactions.
  • It supports wallets like Ledger, Trezor and KeepKey.

RELIABILITY

GreenBits is a fast and easy to use wallet which can even be used by the beginners and with features like optional hardware wallets support, multi-signature 2FA and functionally spending limits one can easily rely on the GreenBits online wallet. This kind of wallet requires the transactions to be authorized by you and the third party. Under the normal circumstances one can take the full control of the bitcoins using the initial back up or by the pre-signature which is sent to you by the mail.

SECURITY

One of the most vital factor in an online wallet is the security to which every client is looking forward to and Greenbits comes with two factor authentication. Now you can enjoy the improved security with a minimal/zero trust approach. It is protected by the best secured online networks like Ledger, which is one of the most trusted app which is the biggest competitor available in the market in terms of security. This wallet basically prevents someone from spying on your payments

TRADING PLATFORMS

GreenBits is only available on the android smartphone and can be easily downloaded from the Google Play. It is not available on the desktop and on the iOS systems.

TRANSACTION FEES

The transaction fees of the GreenBits online wallet is usually 50 ubtc per Kb with its previous versions.

PROS

One of the most important advantage of this wallet is that it is secured with the most trusted and renowned security app called the Ledger so one can easily rely on this wallet. It is fast, slim and easy to use. The developers of this wallet basically publish the source code for the client.

CONS

One of the biggest disadvantage of this wallet is that it does not comes up with the desktop and iOS versions.

SUMMARY

GreenBits is comes up with the SPV verification and which is an amazing bitcoin wallet designed with security partner like Ledger. It does have fast transaction features which is proving an icing on the cake in case of urgency of sending the bitcoins. GreenBits wallet is gaining hype because of its easy to use feature among the beginners.

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