Although bitcoin was launched 9 years ago, the process of trading bitcoins is still complicated to many. With concerns about security features in exchange platforms and unsafe bitcoin wallets, there are people who still find it a hassle to trade bitcoins. Airbitz is an online wallet designed to ease the bitcoin trading process.
Airbitz Overview
Launched in 2013, Airbitz was initially designed to be a bitcoin mobile wallet. Over time, the San Diego-based company partnered with Glidera, an independent software developer whose API feature enables wallet users to trade bitcoins easily. Airbitz is a respected bitcoin wallet and has regularly appeared among the best 5 mobile bitcoin wallets. However, Airbitz is still a privately owned company with flaws. This brings up the question-should you trust Airbitz to hold your digital funds?
Wallet Features
Airbitz offers the following unique features:
- Airbitz is designed from a decentralized architecture system-this enables users to access the wallet’s services irrespective of technicalities in the company’s servers.
- Funds are transferred through the Bluetooth Low Energy (BLE) system that replaces the QR code system. The BLE system is also faster. However, Airbitz still supports the QR code system.
- Easy to register with a simple username and password system.
- Once you create an account, Airbitz automatically encrypts and backs up your wallet.
- Supports a wide list of fiat currencies.
- Airbitz supports a search Business directory feature that shows you a list of all merchants that accept bitcoins in your area.
- Attractive user interface that enables users to transfer funds quick and seamlessly.
Privacy and Security Features
The privacy and security features offered by Airbitz are exceptional and unrivaled. In fact, thanks to the wallet’s numerous and unique features, some think that Airbitz is way ahead of its time.
- Supports the hierarchical deterministic security system that generates new addresses after every transaction made.
- Airbitz does not ask for user data such as name, addresses or even an email address.
- Uses client-side encryptions to give users control over their coins. This means that users need login details and a password to access the coins.
- Open source to allow coders to modify and help improve its security system.
How to use Airbitz
Step 1:
Setting up and using the Airbtitz wallet is easy. First, download the app from the apple store. Sign up and provide login details that are easy to remember but not so easy to guess. Write the login details on a piece of paper and secure it. Enter a 4-digit authentication pin that you can use later when you need to change your login details.
Step 2
Request a private address that you will use when trading bitcoins. Keep in mind that this wallet uses a hierarchical deterministic system. This system works such that you request a private key every other time you wish to receive coins. When you make a request for the address, it appears below the QR code.
Buy bitcoins
Usually, users purchase bitcoins from a bitcoin exchange platform and transfer them to a wallet of choice. You have the same option on Airbitz or the option to purchase bitcoins without leaving your wallet. Glidera is the reason why you can purchase bitcoins straight from your Airbitz wallet. Glidera has an API available on the Airbitz wallet that allows you purchase any of amounts of bitcoins by connecting your bank accounts.
Pros of using Airbitz
- Features an extremely easy to use interface
- Advanced security features
- The decentralized server system ensures you do not lose coins due to technicalities on the wallet’s side.
- Shows you nearby merchants that accept bitcoins.
Cons
- Not yet compatible with desktops
- Vulnerable to risks associated with online bitcoin wallets.
Can you trust Airbitz?
Either due to the wallet’s next level features or the sheer fact that it’s a mobile wallet, some traders are skeptical of using the wallet. The following questions and answers highlight the concerns most users have about Airbitz and why everyone should be assured of the wallet’s legitimacy.
Why should I trust the wallet’s security system?
With a decentralized server architecture and login security features needed to access bitcoins, the wallet’s security system is reassuring. The system architecture ensures that you can access all features on the wallet when its servers are unavailable. Again, the servers are decentralized, making it more difficult for hackers to penetrate.
Are payments fast?
Normally, payments done through Airbitz are fast and efficient. However, an overload on the system can delay payments. In case of any troubles encountered while transacting, Airbitz encourages you to communicate to them and resolve the issue.
Are there service charges with Airbitz?
Since Bitcoin charges a miner’s fees for every transaction, you can expect to pay a small fee for every transaction completed on Airbitz. The fee is dynamic, however, and you may pay higher when completing big orders or when you need your transaction to be prioritized.
How transparent is Airbitz?
One of the easiest ways to test a company’s trustworthiness is by trying their customer support team. Airbitz is easily available through social media, phone and email contacts. On all the major bitcoin forums, Airbitz has a great reputation.
Is Airbitz better than existing mobile wallets?
Despite the fact that Airbitz is taunted as being ahead of its time, it has flaws too. This means that there are maybe other mobile wallets with features that users prefer better. Still, Airbitz is one of the leading mobile wallets in the industry. It has often attracted high ratings and its wide fan base goes ahead to show that bitcoin users trust the wallet.
Can you use Airbitz to Replace Hardware wallets?
Despite its cutting-edge security features, hardware wallets still lead the way as the most trusted types of wallets. Hardware wallets are not only more secure, but they are better off for storing large amounts of bitcoins. Read an in-depth review of the Airbitz wallet on https://www.abitgreedy.com/airbitz/ especially if you would want to learn more about how the wallet guarantees security for your coins.
Conclusion
Airbitz is one of the leading bitcoin mobile wallets that are likely to remain popular for long. With its unique features and great convenience for users, bitcoins users will likely favor Airbitz over any other wallet in the future. To view more intriguing content, visit our website often.
