Review on BTC Wallet by Fanuel PORPORTY
BTC com wallet is designed to strike a balance between ease-of-use and security for crypto users.
Before we get started, let us find out, what is BTC com? BTC com is currently a service offered by Bitmain, which operates the largest and second largest Bitcoin mining pools globally. Bitmain was founded in 2013 and has its headquarters in Beijing, China.
The mining giant acquired BTC com from a Netherland-based fintech company in 2016. BTC com, which is formerly known as Blocktrail, is an open-source wallet designed to support Bitcoin. Following the Bitcoin blockchain hard fork that took place in 2017, the wallet extended its support to cover Bitcoin Cash as well.
Pros
- Does not store entire Bitcoin blockchain and is therefore not data/storage space intensive
- Open source code allows for public audit
- Multi-language support
- Has the backing of a reputable crypto industry player
- Easy setup and easy to use backup and recovery features
Cons
- As an online wallet, it is inherently insecure and vulnerable
- It is not regulated
- Only suitable for storing small amounts of funds
- Users cannot buy Bitcoin directly from the wallet
