Schildbach Wallet Review

What is Schildbach Wallet (Bitcoin Wallet)?

Schildbach Wallet–also called Bitcoin Wallet–is an Android application that enables users to send and/or receive Bitcoin without any intermediaries.

The app doesn’t need any registration and is quick to install.

Heads Up!

Large amounts of bitcoins should not be stored on your Schildbach wallet! If you want the most secure Bitcoin wallet then you will need to use a hardware wallet like the Ledger Nano X or TREZOR T.

You should always do research before downloading or installing any Bitcoin wallet.

The developers behind Schildbach Wallet claim that it’s the oldest Android app of its kind, as the first version came out in 2011.

Who is Schildbach Wallet Good For?

Schildbach Wallet should work well for Bitcoin-only users who look for a convenient way to move small amounts of BTC funds in and out without any interference.

The wallet is suitable for cryptocurrency users who are spending or receiving BTC funds on a regular basis. However, using this wallet for transferring large amounts of coins is not the greatest idea.

Schildbach Wallet vs Other Wallets

COMPARISON

Ledger Nano X

  • Good for storing large amounts of crypto
  • Supports 1,000+ coins
  • Can be used with iOS & Android

Zengo

  • Simple wallet for iOS and Android
  • Supports many coins, like BTC and ETH
  • Clean interface makes it easy to use

Schildbach Wallet

  • Only supports Bitcoin
  • Clean interface, not confusing for new users
  • One of the oldest Bitcoin wallets

What Platforms Does Schildbach Wallet Support?

Schildbach Wallet is only availabe on android devices. There is no Schildbach wallet for iOS or windows or mac desktop OS’s.

How to Add Funds to Schildbach Wallet?

add bitcoin

You can use one of your given Bitcoin addresses listed on the app to send BTC funds from other wallets. First, you can buy Bitcoin with fiat currencies or altcoins on an exchange platform and then send the acquired amount to your Schildbach Wallet app.

As an initial step, you can use our site – BuyBitcoinWorldwide – to pick a reliable cryptocurrency exchange that allows fiat to crypto operations.

Here are a few other options:

  • Popular Exchanges
  • Coinbase
    • High liquidity and buying limits
    • Easy way for newcomers to get bitcoins
    • "Instant Buy" option available with debit card
  • Coinmama
    • Works in almost all countries
    • Highest limits for buying bitcoins with a credit card
    • Reliable and trusted broker
  • eToro
    • Supports Bitcoin, Ethereum & 15 other coins
    • Start trading fast; high limits
    • Your capital is at risk.

    We do not promote, endorse, or earn commissions from the trading of securities of any kind, including CFDs, however, eToro requires that we provide you with the following disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Is Schildbach Wallet Safe?

safe

The Schildbach Wallet is a relatively safe application. However, it cannot compare to the safety of hardware wallets.

Also, there are safer BTC wallet apps for Android as well, as the Schildbach Wallet doesn’t initially impose you to set a PIN code or write down a seed. Thus, anyone who has access to your smartphone or tablet can open the app and steal your crypto funds.

To avoid this, you should set a PIN code. This operation can be done from the app’s menu.

What Cryptocurrencies Does Schildbach Wallet Support?

Schildbach is meant to be a very minimal Bitcoin only wallet. The only cryptocurrency it supports, therefore, is Bitcoin. The app can display Bitcoin amounts in BTC, mBTC, and µBTC.

How to Receive Bitcoin on Schildbach Wallet?

You can receive BTC by tapping on “Request Coins” button in the lower-left corner. Next, you should insert the requested amount displayed in mBTC by default. If you are not familiar with this symbol, mBTC is equivalent to one-thousandth of BTC (0.001 BTC).



Once you hit the enter button, you’ll get a QR code that you can receive your Bitcoin into.



How to Backup Schildbach Wallet?

There is nothing difficult about backing up your Schildbach Wallet. All you have to do is to tap on the three points button on the upper right corner and pick “Safety.”

You will be redirected to a submenu where you can choose “Back up wallet.”

Now you can simply create a password and then insert it again. By carrying out the backup procedure, you will save the backup file of your wallet in the internal storage of your device. Make sure to store the backup file in a safe place!


How Does Schildbach Wallet Calculate Transaction Fees?

tx fees calculation

Whenever you carry out a Bitcoin transaction, the app will inform you about the current fee.

Unfortunately, Schildbach Wallet doesn’t provide any feature that allows you to manage or change the fees.

The fees vary depending on the timing and data size of your transactions. Besides this, the number of transactions made with your wallet might also influence the fee.

Schildbach Wallet uses its own fee calculation methodology that considers the current fees on the Bitcoin blockchain.

How to Get a Schildbach Wallet Address

Schildbach Wallet assigns you BTC addresses automatically. You can manage your addresses by tapping on the address book on the top banner of the app.

Whenever you tap “Request coins,” you will see the QR code related to your Bitcoin address.

How to Restore Schildbach Wallet

To restore the Schildbach Wallet, you should have conducted the backup procedure in the first place. If you have already done that, you can go to the three-point button on the upper right corner and tap on “Safety.” When the submenu pops out, you should tap “Restore wallet” and then pick the backup file and insert the password.

How to Update Schildbach Wallet?

The Schildbach Wallet app can be easily updated in the Play Store. The latest version at the time of writing is v7.62-v7.66.

Which Hardware Wallets Work with Schildbach Wallet?

Schildbach Wallet is an independent application and does not work with any hardware wallet at the moment.

Send from Schildbach Wallet to Bank Account

Schildbach Wallet doesn’t support any feature that allows you to directly convert Bitcoin to fiat money and then send it to a bank account.

Instead, you can send your Bitcoin funds from the Schildbach Wallet to an exchange address and then sell that amount for US dollars or any other available fiat currency. Finally, you can move your fiat balance to a bank account.

Here are two exchange platforms that allow you to convert crypto to fiat and then transfer to a bank account:

coinmama

Coinmama: Coinmama is platform where you can buy Bitcoin with fiat money and then send it to fund your Schildbach Wallet app. People love Coinmama because they have great customer service and they operate in almost every country.

coinbase

Coinbase: Coinbase is the largest crypto exchange in the US. The San Francisco-based company has been around for about eight years, being one of the oldest exchanges out there.

The platform is available in over 100 countries on six continents. Many crypto users claim that Coinbase offers one of the easiest ways to convert US dollars to Bitcoin and other listed coins.

kraken

Kraken: you can do the same operation on Kraken, another reputable cryptocurrency exchange that supports fiat operations. Once you moved the Bitcoin funds from the Android app to Kraken and converted to fiat money, you can withdraw the fiat balance through wire transfer.

Schildbach Wallet vs Coinbase

Schildbach Wallet and Coinbase offer different kinds of services, so they should not be compared as direct competitors. Coinbase acts as an exchange platform rather than a wallet. Nevertheless, some clients choose to keep their crypto funds on Coinbase, which is not safe from our viewpoint.

While the largest US exchange might be suitable for temporarily storing small amounts of Bitcoin, we think that the Schildbach Wallet app is safer for this purpose. Even so, if you plan to store a significant amount of BTC, you should better use a hardware wallet like Ledger Nano X or TREZOR T.

How to Send Bitcoin from Coinbase to Schildbach Wallet?

Coinbase is by far the largest exchange in the US and one of the most popular crypto services in the world, so it makes sense to briefly instruct you on how to send Bitcoin from the platform to your Android app.

The good news is that Schildbach Wallet has a user-friendly interface, which simplifies the whole process.

First, you should open the Schildbach Wallet app on your device and just tap “Request coins” on the lower-left corner. You will see a QR code related to your BTC address.



Next, you have to sign in to your Coinbase account and land on the “Dashboard” screen:



Now just tap on the stacked horizontal lines located in the upper left corner, which will lead you to your wallet options tab. Then click on “My Wallet” icon as shown in the image below.



On the “My Wallet” page, you will see two small icons in the upper right corner – a QR code symbol and an icon of a paper airplane. While both of these will lead you to the send or request screen, we recommend copying the address from your schildbach wallet and pasting it into the address field on the Coinbase app.

You can insert the amount you want to send to the Schildbach Wallet and then hit the “SEND” button.



Schildbach Wallet Support

support

Schildbach Wallet doesn’t have a customer support team to assist you whenever you have an issue with the app. To get some basic information about how to use the wallet, you can read the help page in the app’s menu.

Schildbach Wallet is an open-source and free application. Its code can be seen on GitHub: https://github.com/bitcoin-wallet/bitcoin-wallet.

What Do People Say About Schildbach Wallet?

reputation

Schildbach Wallet has generally favorable reviews on Play Store, displaying an average rating of 4.0 stars. This is a decent rating considering that the app has been downloaded by over 1 million times. Some users complain that the application is using huge data in the background.

Rating: 4.1