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Bitcoinwallet Review
Bitcoinwallet
bitcoinwallet.com
(0 reviews)
Site Rank: 15

Bitcoinwallet.com have been established since 2014. The business is based in the US along with the servers to store the data. Their website is very simple and they have only a small following on social media. The wallet involves users giving up control of their private key to Bitcoinwallet.com. Fiat currency is not supported with Bitcoinwallet.com being solely for bitcoin. Bitcoinwallet.com do not offer any exchange services so bitcoin needs to be purchased from a third-party and the wallet can facilitate sending, receiving, and transactions.

In terms of fees, user-to-user transactions for Bitcoinwallet.com users are free. Transactions to and from users who are not with Bitcoinwallet.com will incur a 1% transaction fee. This is to cover the mining fee and is not in addition to it. The 1% can increase if the mining fees go higher than 1%. Deposits also incur this 1% transaction fee which is not normally the case as the sender normally pays the fee.

There is no multi-signature functionality for wallets. Users can enable two-factor authentication on their accounts to add an extra layer of security. Security is difficult to assess. It is noted that users funds are pooled. Funds are noted to be stored in cold storage. It is also noted that data is AES encrypted

Pros & Cons
  • Funds stored in cold storage
  • Data is AES encrypted
  • Users can enable two-factor authentication
  • 1% transaction fee on deposits
  • Does not provide exchange services
  • Does not support fiat currencies
  • Only for bitcoin
  • No multi-signature optionality