BlueWallet Review 2023
BlueWallet is a non-custodial mobile Bitcoin wallet that allows users to do more than send, receive, and store Bitcoin (BTC). It is highly secure, feature-rich, and compatible with the Lightning network. It is designed to be simple yet extremely powerful.
BlueWallet Pros and Cons
Plenty of usability features.
Compatible with the Lightning network.
Simple user interface.
Available on desktop and mobile.
Only supports BTC.
Not enough guidance and educational materials.
BlueWallet has lots of usability features. They include;
Multiple wallets: The feature allows you to import compatible wallets from other BTC platforms like Bread and Electrum and manage them on the app.
Watch-only: It allows you to import your offline wallets' public addresses without going offline. It enables you to connect your hardware wallet and manage your cold storage.
MultiSig vault: It adds an extra layer of security to every transaction made. It works like two-factor authentication, requiring two or more private keys to confirm transactions.
Lightning wallet: The feature allows you to use the Lightning network without opening channels, being online, or operating and maintaining a node. You will, however, need to create a Lightning wallet.
Fees and transactions control: It allows you to set the fees you wish to pay for transactions. However, the lower the transaction fee, the longer it will take for transactions to be verified.
Plausible deniability: It allows you to define a different password that will decrypt a "fake" wallet setup.
Other features include coin control, Payjoin, offline mode, custom entropy, Coldcard support, Cobovault support, hardware wallets support, PSBT (Partially Signed Bitcoin Transactions) support, broadcast transactions, notifications, Segwit support, batch transactions, multiple storages, and so much more.
BlueWallet only supports Bitcoin. However, it allows users to display the value of their BTC holdings in more than 30 fiat currencies, including EUR, AUD, USD, CAD, JPY, CHF, GDP, BRL, CZK, CNY, HRK, MYR, INR, MXN, and RUB. Blue has integrated MoonPay, which lets you easily buy BTC within it.
BlueWallet is available in almost every country. It has desktop and app versions that can be downloaded on iOS and Android devices (as long as the app store permits it).
It is available in more than 30 languages, including English, Spanish, French, Chinese, Japanese, Russian, Italian, Indonesian, Swedish, Norwegian, Danish, and Turkish.
Is it safe to use?
BlueWallet is safe to use. It uses a 24-word mnemonic recovery seed to recover funds in case you lose your phone or forget your PIN. As a user, you can activate biometrics to unlock, delete, and sign a transaction.
Wallets can also be encrypted with an additional password if you wish to add another layer of security. A further security feature is an option to set up decoy wallets in case you are forced to unlock your wallets. A decoy wallet may only be activated if a user has the encryption password set up.
There are many reasons BlueWallet is considered by many as the best Bitcoin wallet. It is not only highly secure and feature-rich, but also very easy to use. Despite the fact that it is a BTC-only crypto wallet with little education materials, it is a great wallet to use for all your BTC business.
Author: Jay Jackson
Jay Jackson is a crypto trader, researcher and freelance writer. He works closely with people and businesses in the crypto sphere, writing blog posts, guides, press releases, reviews and ebooks.