The Bitcoin.com wallet is self-described as ‘the fastest Bitcoin wallet ever created’ as they write on their website. Boasting features such as instant pay, the ability to buy, sell, swap and store Bitcoin and other cryptocurrencies and good security systems, it seems like a good option to keep your tokens. But, does Bitcoin.com deliver on its promises? In this Bitcoin.com wallet review we’ll be going into an in-depth review of the wallet and all the pros and cons you might encounter, so read on to find out.
The Bitcoin.com wallet is very easy to download and install, being cross-platform is a major plus, as you can get it for mobile (Android and IOS) as well as PC (Mac OS, Windows, and Linux). Some of the pros include being cross-platform, easy credit card payment availability, a 12-word paper passcode option, or requirement, and simple, free installation.
On the other side of the coin, some of the cons we would consider include a lack of 2-factor authentication, though it does allow you to use fingerprint ID, fairly high credit card fees, and very poor customer support offered by the company.
Bitcoin.com Wallet Review: Pros
One of the best Bitcoin.com wallet features is the simplicity of the download, set up, and payment process. With cross-platform accessibility over IOS, Windows, Linux, and Mac OS, and a simple, straightforward download and sign up process, it takes minimal time and effort before a user can be successfully up and sending Bitcoin. The wallet allows you to swap your tokens for stable coin (ie. Bitcoin for Bitcoin Cash) and, with their Instant Pay feature, transferring tokens for goods, services, or to another wallet can take as little as seconds, either using a wallet address or a QR code. All you need to do to start using instant pay is set up your spending threshold (ie. no more than $100 worth of whichever token) and you’re good to go.
The reason we love this functionality so much is that it makes using Bitcoin as a payment option more accessible than most other wallets do. Though there are many issues surrounding cryptocurrency being used in the mainstream, features like Instant Pay being integrated into Bitcoin wallets are a major step in the right direction, and we would love to see this option become the norm. In recent years, over 4 million Bitcoin.com wallets have been created, this is great as it indicates cryptocurrency is being adopted by more and more people all over the world.
Unfortunately, the security features Bitcoin.com has to offer are not as promising as its Instant Pay feature. Though there is a 12-word paper security passphrase required to create your wallet, which will need to be recorded on paper and used in case of the loss or damage to whichever device your wallet is on. Bitcoin.com does not integrate 2-factor authentication, which in my eyes is important for crypto wallets and any other financial apps.
There is also a lack of automatic password protection, however, fingerprint ID access is available. Strangely having a password or fingerprint ID isn’t required at all by the app, and if you choose not to specifically go into your settings and set it up, you can use the wallet with zero protections. In the case of the theft of your phone or laptop, this could be a disaster.
Again, when it comes to security, the wallet is focused on convenience, however, in terms of keeping your Bitcoin assets safe, this isn’t exactly the most important focus. So, if you are going to be trading smaller values of Bitcoin and Bitcoin cash, which is really the intended use of this wallet, then it should be okay.
User Experience And Navigation
The Bitcoin.com wallet comes in the form of an app for Apple and Android and can be downloaded all over the globe.
Create your own Bitcoin.com wallet and become part of the largest Bitcoin wallet community!
It has a very straightforward user interface, where you can check your wallet balance, send Bitcoin and Bitcoin cash using instant pay, as well as buy or sell your Bitcoin. It also allows you to make credit card deposits, albeit with fairly high fees. There is a scan button, where you can scan QR codes to make fast payments and a receive button which will generate a new address where you can receive tokens.
Looking for the best Bitcoin exchange services? Read our Kraken vs. Poloniex breakdown!
The Bitcoin.com wallet is also more than just a crypto wallet. With the intention of connecting and educating the community, they have their own forum, where users can ask questions to other members and read important updates. They also have a real-time market price chart to ensure you can easily keep up with market trends.
Bitcoin.com Wallet Review: Cons
Though we have just praised Bitcoin.com for its community forum and effort to connect and educate the community, unfortunately, that comes along with some pretty harsh downsides.
Non-Existing Customer Support
First of all, the company seems to have completely substituted its customer support option with its community forum. Meaning they have decided not to provide any customer support to their users. If you do find yourself encountering an issue with their wallet, you’ll need to register on the forum in the hopes that someone else has encountered a similar issue, or another user is willing to help. Though this is a common issue within the crypto space, it’s still disappointing.
Bitcoin.com charges 2.5% on credit card purchases. Though it’s not the worst value, it’s certainly not good, and coupled with their poor security and lack of particularly special features, you could probably find a wallet with lower fees and better features out there.
Bitcoin.com Wallet Review: In Conclusion
In conclusion, the Bitcoin.com wallet has a few good features and a few bad ones. The wallet has been downloaded over 4 million times in the past few years and haven’t had major complaints about their user base. They have put a major focus on their usability and convenience and have subsequently made their entire process very easy, with as few barriers to entry as possible.
From downloading to setting up to making payments, the whole process is thoroughly convenient, which might make it ideal for small one-off payments for goods and services. This is definitely something the community needs if crypto is ever going to achieve mainstream popularity.
Some of its worst attributes include its lack of 2-factor authentication and non-requirement of password protection. Though it does thankfully give you the option. As well as its complete denial of customer support, and higher than average fees on credit cards.
Looking for an Ethereum wallet? Check out our MyEtherWallet overview!
Some of its positive features include Instant Pay, a 12-word passphrase required upon creation of your account that needs to be recorded on paper, cross-platform accessibility, and general ease of use.
All in all, Bitcoin.com has some persuading features, and for one of the small payments, it seems like an excellent choice. Let us know your experiences with the Bitcoin.com wallet and whether you loved or hated it.