Overview of the GreenAddress Bitcoin Wallet
GreenAddress is a digital wallet for cryptocurrencies that was introduced in 2013. It has been a part of Blockstream, a leading figure in blockchain infrastructure development, since 2016.
Key Features of GreenAddress:
- Advanced Security. The wallet automatically generates unique addresses for each incoming transaction, provides options to password-protect coins, and allows users to set spending limits.
- Convenient Accessibility. GreenAddress features a “Watch-only” mode enabling users to quickly verify balances or conduct transactions without full wallet access.
Supported Cryptocurrencies
GreenAddress exclusively supports bitcoins (BTC) and does not offer cryptocurrency exchange services. Users must exchange currencies through third-party platforms to fund their wallets.
While the service itself is fee-free, users should be mindful of potential transaction fees dictated by network congestion levels.
Attributes of the GreenAddress Wallet
To utilize GreenAddress, users must install the application on Android or iOS devices, as well as on Windows, Linux, or Mac OS computers. The wallet’s source code is accessible on GitHub.
The wallet setup involves multiple steps, such as entering a mnemonic phrase, configuring security settings, establishing a PIN, and creating login credentials for the “Watch-only” mode.
All private keys remain unencrypted and are not stored on servers. GreenAddress offers a refund mechanism in case of security breaches.
- The wallet complies with the BIP32 standard by generating fresh addresses for each transaction.
- During updates, GreenAddress generates pre-signed transactions to unlock funds.
- The service utilizes the P2SH standard to streamline transaction interactions.
- Enhanced security features include the use of double signatures.
Customer Support and Contact Information
FAQ sections are available on the greenaddress.it website for user queries. For support, users can reach out via email at [email protected] or through the App Store/Google Play app platforms. The company also maintains an active presence on Twitter.
User Reviews and Testimonials
BrokerTribunal aggregates reviews about GreenAddress. Share your feedback on this wallet to contribute to its rating.
This review has been prepared by the specialists at ExpertsReview.
My experience with GreenAddress was utterly disappointing. It was riddled with numerous issues from frustratingly slow transaction times to occasional system crashes. Customer support was quite the hassle to communicate with, often responding days later to any inquiries. Moreover, the interface is not user-friendly at all; it is complicated and confusing, especially for users like me who are not tech-savvy. Their security seems questionable too, as I experienced an unauthorized login attempt into my account once. Overall, I wouldn’t recommend this platform to others.