Blockstream Green Review

blockstream green wallet

What is Blockstream Green?

blockstream green mobile app

Blockstream Green is an open-source online digital asset wallet, allowing users to store, access, send and receive Bitcoin currency via user-friendly web and mobile platforms.

This intuitive wallet is designed with accessibility in mind and is supported by a host of top of the line security features, like multiple two-signature authentications, protecting users against malware and hackers.

It is worth noting that industry experts consider Blockstream Green to be one of the most secure mobile Bitcoin wallets on the market.

What type of users would benefit from Blockstream Green?

Due to the advanced features available on its platform, Blockstream Green is one of the top wallets preferred by intermediate to experienced users. That is not to say that its functionality is fussy or complicated––on the contrary, it offers a very sleek and user-friendly interface.

Blockstream Green also works in harmony with many external platforms and devices, including Android, iOS, and desktop (via Chrome), making it one of the more compatible options available. So if you are a frequent trader and collector of Bitcoin, with an adequate level of tech-savvy, it can be a great option.

How to add funds to Blockstream Green?

Once you’ve purchased Bitcoin from an exchange or with cash, you can transfer them to your Blockstream Green Wallet.

But first, you need to download the Blockstream Green app (on iOS or Android).

Once you have created a wallet on the Green Wallet app, the options for trading are streamlined and simple.

Sending Bitcoin

increase fees

Simply click on the “Send Money” tab and enter the recipient’s address (alternatively, you can scan their QR code). Indicate from which wallet the funds will be taken, and you’re done.

You can seven set your own fees to increase the speed of the transaction.

Receiving Bitcoin

Similarly, click on the “Receive Money” tab, which features your own individual address and QR code. Once this information is shared with the sender prior to the move, you will be able to draw your funds.

Additionally, the “Permanent Payment” URL feature allows you to publically display your address.

And each time Bitcoin is deposited, a completely different address is generated, which means added security, privacy and peace of mind.

Which type of coins does Blockstream Green support?

bitcoin only

Currently, Blockstream Green only supports users storing and sharing Bitcoin (which is denoted by the 3-letter ticker BTC). While there are no immediate plans to integrate additional currencies or tokens, users should take comfort in the fact that the Blockstream Green wallet, by working exclusively with one type of coin, is thereby a Bitcoin specialist.

Any user interested in working exclusively with Bitcoin should consider Blockstream Green.

How does Blockstream Green calculate fees?

Currently, Blockstream Green does not charge a fee for any of its services. However, as with many Bitcoin wallets, there are fees to consider when transacting.

Using the wallet, you will notice a fee in the sending transaction dialog. This amount is paid to Bitcoin miners to confirm your transaction (in other words, when the miners add it to the Bitcoin blockchain). As always, transaction fees are subject to change according to the demand of the network.

It should be mentioned that miners may choose to delay or outright ignore transactions with extremely low fees. Fortunately, Blockstream Green automatically calculates a fee for users, ensuring that your transaction is mined as quickly as possible––the goal being not to deliver the fastest confirmation, but the most accurate one.

In fact, many of the wallet clients of Blockstream Green allow users to change the fee themselves, which is handy for those looking to ensure a faster (increased default fee) or steady (lower fee) transaction confirmation.

First-time users of Bitcoin would benefit from using the default calculated fees.

Can I use a hardware wallet with Blockstream Green?

For those who might not know, hardware wallets are secure, offline devices used for storing and transferring crypto-currencies. They typically resemble external computer hard drives but can be as sleek and compact as a USB key.

hardware wallet

One of the security features of Blockstream Green is hardware wallet support. Blockstream green interfaces with both the Ledger Nano S and Nano X, as well as the Trezor One and Trezor Model T.


COMPARISON

ledger nano x folded

Ledger Nano X

  • SCREEN:
  • RELEASED: 2019
  • PRICE: $119
ledger nano s illustration

Ledger Nano S

  • SCREEN:
  • RELEASED: 2016
  • PRICE: $59
trezor model T

TREZOR T

  • SCREEN:
  • RELEASED: 2018
  • PRICE: $159
Trezor One

TREZOR One

  • SCREEN:
  • RELEASED: 2013
  • PRICE: $59


Blockstream provides an awesome walkthrough video for handling all aspects of the app (including pairing a hardware wallet), which you can watch below:



Is Green Address the Same as Blockstream Green?

Yes. Blockstream acquired Greenbits and in 2019, Blockstream rebranded Green Address to Blockstream Green. The app––currently available for download for Android and iOS devices––has been optimized for speed, efficiency, and performance, while the new interface has been reimagined for an elevated level of user-experience.

Blockstream Green retains its existing multi-signature security features, and integrates a slew of additional tools, making it more intuitive for casual users and even more exciting for frequent, everyday users.

Blockstream Green is a non-custodial wallet; it provides users with the required tools to manage their own coins––with no unilateral interference. It’s all about control: provided you follow the instructions, you, the user, remain the sole possessor of your coins.

Blockstream Green, like Green Address, uses a format that requires signatures generated by 2 different keys, one of which is controlled by you, the user; and another one that is controlled by Blockstream.

2-of-2

Blockstream then signs transactions when provided with Two-Factor Authentication (2FA) confirmation––a one-time password delivered to the user via email, SMS or another separate device.

This extra level of security means that thieves and hackers are even less likely to be able to access your coins.

Like Green Address, Blockstream only supports Bitcoin. It is important to remember the importance of this fact as users attempting to send anything other than Bitcoin to an address generated by a Blockstream Green wallet may result in those coins being lost with no chance of being reclaimed. With that being said…

Does Blockstream Green support Ethereum?

At this time, Blockstream Green does not support Ethereum (ETH).