Topic: IS BITCOIN WALLET APP REALLY RELIABLE? - page 2. (Read 1947 times)
Jaxx is reliable, but you need to keep your phone and wallet safe, which is easy, don't download no source app or unknown link.
Rate & transaction fee for each wallet is different, they use their own customized conversion policy, and also because influence of latest volume and bitcoin price movements. Its function is as an intermediary for a third party and they use a certain fee. You can't transact without using them, no matter if they use a different rate.
Yes they are safe as I've been using a couple of them. The problem I think you are having has to do with the price changes and any Bitcoin enthusiast knows that it is synonymous with bitcoins; that's the norm and Bitcoin prices are never stable so you have to be flexible with your expectations so that you don't always get disappointed with a price change.
I have the feeling that my wallet app is the weak link in my Bitcoin security.
Blockchain has a 4 digit code to get into it, my phone has a lock too, but in comparison to 2FA and a very long very strong password, it is weak.
That's why I only keep a small amount on my phone, in case of emergency
In your case, do you actually trade in the app, or is it just to show the USD value? If it is just for show, it doesn't matter!
Blockchain has a 4 digit code to get into it, my phone has a lock too, but in comparison to 2FA and a very long very strong password, it is weak.
That's why I only keep a small amount on my phone, in case of emergency
In your case, do you actually trade in the app, or is it just to show the USD value? If it is just for show, it doesn't matter!
Every wallet app will have a favorite exchange site in which they will quote their price the reason for that chosen is best known to them. But its equally an advantage to someone could exploit the difference in price as a means of arbitrage and even make more money by buying from the one quoting a lower price then selling in the higher exchange site after studying that the spread is enough to cover the cost to be incurred.
Hi guys,
I have a bitcoin wallet app and I'm noting that the amount of money in BTC when converted to USD is not precise. There is like USD30 od difference between the amount displayed in the app and some online converters.
Apparently the app gets its convertion from bitcoinaveragedotcom.
What's your thought?
I have a bitcoin wallet app and I'm noting that the amount of money in BTC when converted to USD is not precise. There is like USD30 od difference between the amount displayed in the app and some online converters.
Apparently the app gets its convertion from bitcoinaveragedotcom.
What's your thought?
I think you've got the whole concept wrong, Bitcoin prices are never stagnant/fixed at any time; they keep fluctuating due to its volatility and some exchanges try to play safe by raising the buy/sell rate of Bitcoin to a grace level where they wouldn't lose when there's an unforeseen drop/dump in prices. The wallet apps as far as I know are reliable; I use coinbase and they've been excellent ever since I started using.
if you need to buy/sell bitcoin then go to an exchange service that you like and get the live price there so it is the accurate and current price.
a wallet app is not supposed to have live price which is accurate with exchanges. a wallet app that reports price should do that so that you can have some kind of idea about how much equivalent money you own in your bitcoin wallet.
although this also depends on where that particular wallet app takes its price. bitcoinaverage is average price, some of the wallets (mostly desktop) allow you to fetch the price directly from an exchange API if that is what you want.
a wallet app is not supposed to have live price which is accurate with exchanges. a wallet app that reports price should do that so that you can have some kind of idea about how much equivalent money you own in your bitcoin wallet.
although this also depends on where that particular wallet app takes its price. bitcoinaverage is average price, some of the wallets (mostly desktop) allow you to fetch the price directly from an exchange API if that is what you want.
Because everytime the price of bitcoin always changing and the system does not have 100% accuracy to pick the current rate in every second and that's normal in my mind. And there is no the reliable bitcoin wallet app.
The reply is simple - every site or app has it's own price for bitcoin, they set prices how they see it to it suit to their business. I never used just one exchanger for my operations and transactions. I chose the place with prices that satisfy me the most.
Hi guys,
I have a bitcoin wallet app and I'm noting that the amount of money in BTC when converted to USD is not precise. There is like USD30 od difference between the amount displayed in the app and some online converters.
Apparently the app gets its convertion from bitcoinaveragedotcom.
What's your thought?
I have a bitcoin wallet app and I'm noting that the amount of money in BTC when converted to USD is not precise. There is like USD30 od difference between the amount displayed in the app and some online converters.
Apparently the app gets its convertion from bitcoinaveragedotcom.
What's your thought?
your app is probably using their own price to convert your bitcoin>USD.
Every exchange have it's own price, depending on the market volatility the difference between each one will increase. That's arbitrage(buying at the cheaper place and selling where the price is higher).
So is there a BTC app for mobile that can give you the best rate convertion
There is no "best rate".
Exchanges provide a place for bitcoin buyers and bitcoin sellers to find each other.
Buyers decide how much they are willing to spend and list that amount at the exchange.
Sellers decide how much they want to be paid and list that amount at the exchange.
If the amount a buyer is willing to spend is more than the amount a seller wants to be paid, then an exchange happens and the site reports what that amount was.
Each person using bitcoins gets to decide for themselves how much their bitcoins are worth to them and then gets to decide for themselves if the amount of bitcoins being requested for a product, service, or fiat is something they are willing to pay. If so, then they make the bitcoin payment. If not, then they look elsewhere.
Most people have a favorite exchange or service that they like to use to help them determine how much they are willing to value their own bitcoins.
There is no single price. The price you see is generally the price of the last sale at some exchange somewhere, or some kind of average of prices on multiple exchanges.
So is there a BTC app for mobile that can give you the best rate convertion, or all have their highs and lows? 
There is no single price. The price you see is generally the price of the last sale at some exchange somewhere, or some kind of average of prices on multiple exchanges.
Hi guys,
I have a bitcoin wallet app and I'm noting that the amount of money in BTC when converted to USD is not precise. There is like USD30 od difference between the amount displayed in the app and some online converters.
Apparently the app gets its convertion from bitcoinaveragedotcom.
What's your thought?
I have a bitcoin wallet app and I'm noting that the amount of money in BTC when converted to USD is not precise. There is like USD30 od difference between the amount displayed in the app and some online converters.
Apparently the app gets its convertion from bitcoinaveragedotcom.
What's your thought?
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