Bitcoin.com Review Pros:
The current form of Bitcoin.com was re-launched in 2015. A single google look will uncover to you that the space name (and the operations behind it) has had a lovely complex history of legal disputes and miniature discussions. From 2015 up to Admirable of 2019, Bitcoin.com was run by a crypto devotee named Roger Ver.
Funnily enough, it would actually be impossible to talk about Bitcoin.com and all of its pros and cons without also discussing Roger Ver and his views on Bitcoin. They are actually quite heavily intertwined with the crypto wallet in question, especially when it comes to user Bitcoin.com reviews, and questions such as “is Bitcoin.com wallet safe?”.
Usually genuine indeed nowadays, as well – whereas Roger Ver has ventured down from the position of CEO of the company all the way back in Admirable of 2019, his opinions regarding Bitcoin, Bitcoin Cash and the concept of decentralization, in common, still wait around the wallet. Stress not, for all of this might be explained in contribution time – for presently, let’s concentrate on the real convenience angles of the wallet. Very Easy to Set Up and Use One of the primary focal points that you’ll see mentioned quite often among client Bitcoin.com audits is the truth that, as a crypto capacity stage, Bitcoin.com is actually very straightforward to utilize, and direct to set up, within the to begin with put.
As a matter of fact, convenience has continuously been the “odd feature” when it came to crypto wallets, whether it be dedicated ones, or those that can store numerous cryptocurrencies at once. Whereas you’re getting to come over questions such as “is Bitcoin.com legit?” and “is the wallet secure to use?”, you’ll once in a while experience questions regarding usability.
Bitcoin.com is exceptionally simple to set up and begin using, as a Bitcoin capacity wallet. It’s a software-based wallet, as well, which implies that it comes with a few additional security features. Software-Based Bitcoin Wallet (Accessible on Most Working Systems) Being a software-based Bitcoin wallet implies that you’ll have to download a record from Bitcoin.com and introduce it on your system. The contrast from a web wallet is that, with the last mentioned, you’d only be able to utilize it whereas associated to the internet, on a specific site, whereas the previous has a devoted software. Naturally, as you’ll be able likely envision, usually a few extraordinary news for anybody pondering “is Bitcoin.comwallet safe?”.
Way better security-aside, it would show up that one of the better features said in numerous Bitcoin.com wallet audits is the truth that the wallet in address is accessible on all of the most operating systems – iOS, Android, Mac, Windows, and Linux. While usually probably quite self-explanatory, broad gadget bolster makes the wallet very appealing for a large group of individuals, since no matter which OS it is merely utilize, you’ll continuously be able to get to your wallet, and check on your reserves.
Accepts Fiat Money / Easy to Purchase Bitcoin
Fiat currencies are those that are issued by the government – USD, EUR, GBP, and so on. To be perfectly honest, they are monetary forms that we bargain with each single day – they’re moreover cash that cryptocurrencies and the method of decentralization point to inevitably replace. The issue with a part of crypto wallets is that they either don’t acknowledge fiat cash, or don’t permit you to buy cryptos from inside them, in common.
Bitcoin.com Review Cons:
When the space title is truly ‘Bitcoin.com’, there is not an extensive list of other cryptocurrencies available for trading.
If you’re only interested in Bitcoin and some limited other crypto available, then naturally, you’re not going to see this as a huge issue. That being said, though, with cryptocurrencies becoming more and more popular as time goes on, an increasing number of people are also starting to expand their interests to include various altcoins – for this group of individuals, Bitcoin.com just won’t “do it”.
Lacks Security Features
At whatever point someone references the security aspect of cryptocurrency wallets (whether in Bitcoin.com audits, or any others), the two huge terms that more often than not come into play are “two-factor authentication” and “custom Stick codes”. Both of these safety-ensuring measures have become almost mandatory when picking the correct crypto wallet for yourself. Custom PINs are self-explanatory – they are quite idiot proof, unless you use the same Stick codes in different diverse places online.
2FA, on the other hand, is considered to be a top-tier security measure when it comes to keeping your cryptocurrencies safe – exchanges and wallets that use 2FA (i.e. Cex.io) are usually praised for it, since it’s obvious that they do care about the safety of their user crypto coins.
Now, unfortunately, Bitcoin.com does lack two-factor authentication. Unquestionably, this does not cruel that the wallet is “unsafe” to utilize. That being said, in spite of the fact that, it fair implies that there are certain security measures that are basically not taken by the company behind the stage – measures that may guarantee tall levels of security, which are something else more often than not seen as basic.
Doesn’t Have Live Customer Support
As you’ll be able likely imagine, this isn’t good – especially in the event that you experience an issue with the wallet, and apparently aren’t able to resolve it yourself.
An important part of any Bitcoin.com wallet review has to do with the pricing (fees) of the wallet in question.
As you know, you’re able to purchase Bitcoin and Bitcoin Cash from within the wallet in question. Naturally, as with most other exchange-wallets out there, you’ll be charged a set fee for your transaction.
Bitcoin.com has a pretty straightforward fee system in place, though – it’s made up of “Takers” and “Makers”. The fee system looks a little something like this:
- Takers are charged a 0.2% fee.
- Makers are charged a 0.15% fee.
Now, admittedly, the fees are relatively high! There are many wallets out there that will take a much smaller fee from your transaction, and that have a scaling fee system in place.
How to Use the Bitcoin.com Wallet?
To finish off the Bitcoin.com review, let’s quickly discuss how to actually use the wallet in question – meaning, how to install and set it up, transfer funds, buy Bitcoin, and so on. Granted that we’ve answered the question “is Bitcoin.com legit?” quite extensively, you might want to try the platform out – it’s better to know what to expect!
How to Install & Set Up Bitcoin.com?
First up, the installation process.
Step 1: Download & install the Bitcoin.com wallet from the app store of personal choice.
Step 2: After the installation process is complete and you go to the app, you will be directed to the home screen.
Step 3: From the home screen, go directly to the wallet of your choice – you’ll notice that it asks you to back your information up. Do so, and you’ll see a 12-word recovery phrase – make sure to write it down and keep the note safe, since it’s your only way of recovering your funds if you forget your information!
How to Send / Receive Bitcoin?
Sending and receiving Bitcoin or Bitcoin Cash is also very simple with the wallet in question.
Step 1: From the wallet screen, tap either “Send”, or “Receive”.
Step 3: If you’d like to receive crypto coins, then all you have to do is tap the “Receive” button, and you’ll see a QR code and your wallet public key. Either scan the code, or copy/ paste the key to anyone you’d like to receive Bitcoin of some other crypto – and that’s it!
Presently, at that point – is Bitcoin.com worth utilizing, within the to begin with place? Well, judging by the larger part of client Bitcoin.com audits found online, yes – as long as you merely care about purchasing, selling and putting away cryptos, and in the event that you hold nothing else but Bitcoin and (or) Bitcoin Cash. Naturally, the wallet does have some flaws – everything from a little number of security-ensuring highlights, up to it holding as it were two cryptocurrencies can be irritating. That said, most of its clients concur that, when it comes to Bitcoin storage, it’s doubtlessly one of the superior and easier-to-use wallets out there.