Is greenaddress safe? | Bitcointalksearch.org

bL4nkcode

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Quote from: childsplay on November 25, 2017, 05:00:30 PM

Recently I saw this on bitcoin.org and just downloaded it, what I noticed it's bitcoin address is changing from time to time. Is this a safe wallet like others?
And it's mnemonic is like it's private key?

Like what other guy said above this wallet (greenaddress.com) is one of the secured web wallets unlike from different web wallet out there. You should understand first on how the security works on this wallet, on how to secure your wallet by saving your seed/private keys/backup offline or whatsoever before doing something. The changing of wallet address is for privacy and security reason but you can use the previous address again and it will be reflect your balance on the same wallet.

marky89

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Quote from: childsplay on November 25, 2017, 05:00:30 PM

Recently I saw this on bitcoin.org and just downloaded it, what I noticed it's bitcoin address is changing from time to time. Is this a safe wallet like others?

As far as web wallets go, I would say that Greenaddress is safe, yes. They are owned by Blockstream and have a very good reputation. I've used them in the past and never had any problems. It should be noted that they use 2-of-2 multisig addresses, which create larger transactions and therefore have higher fees. This has been somewhat mitigated since they implemented Segwit.

Your default receiving address will change after you have received a BTC payment. Other services usually do the same.

Quote from: childsplay on November 25, 2017, 05:00:30 PM

And it's mnemonic is like it's private key?

Not exactly. Private keys correspond to key pairs. So, each Bitcoin address has a corresponding private key. Your mnemonic is a "seed" that gives access to all the private keys in your wallet.

Note: Unless things have recently changed, your money is stored in 2-of-2 multisig addresses. Your seed provides one of the keys. In case you need to recover your wallet, Greenaddress uses the 2nd key to pre-sign an nlocktime transaction that spends the money back to an address under your control after a certain time. See more here: https://greenaddress.it/faq/

childsplay

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Recently I saw this on bitcoin.org and just downloaded it, what I noticed it's bitcoin address is changing from time to time. Is this a safe wallet like others?
And it's mnemonic is like it's private key?

Topic: Is greenaddress safe? (Read 291 times)