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GreenBits Premieres on Android with Hardware and Multisig Support

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The team over at GreenAddress have been busy working on a new Android application called GreenBits. The new open source Android application became available on Google Play and the Fdroid open source store recently.

GreenBits is a unique application that delivers some of the best security measures in an easy-to-use interface for Android devices. The application is compatible with the current generation of bitcoin hardware wallets such as TREZOR, HW.1, NANO, BWALLET, and other TREZOR clones due to an implementation of BitcoinJ.

The software also works with the prototype NFC-enabled Ledger Proton hardware wallet meaning users can easily tap the hardware wallet to a phone with the GreenBits software running and access the wallet.

The hardware wallet implementation is where GreenBits truly shines. Moving between a hardware wallet and software wallet is truly easy and can be done in a matter of seconds.

GreenBits is a deterministic wallet and also won’t reuse the same bitcoin addresses which can greatly increase security for end users. The Bitcoin wiki says that a deterministic wallet is a system of deriving keys from a single starting point known as a seed. The seed allows a user to easily backup and restore a wallet without needing any other information and can, in some cases, allow the creation of public addresses without the knowledge of the private key.

GreenBits Operating with Ledger Proton NFC

The GreenBits wallet requires a PIN code to use, encrypted at 256bit AES. The PIN system allows for quick and easy login on your mobile device, but is still protected against brute-force attacks using this system.

The GreenBits wallet is heavy on security features for users. The developers also decided not to simply support “bits”, but rather leave the choice to the user. You can denominate your bitcoin as BTC, mBTC, uBTC, and bits. This is just another step in the right direction of personal choice for bitcoin users.

GreenBits features the ability to limit withdrawals to a certain crypto or fiat amount, the ability to sweep paper wallets, and four different types of 2FA including SMS, email, OTP, and robo call.

The new GreenBits wallet is designed to replace the older GreenAddress Android wallet as it contains several security enhancements and improvements over previous versions; however, GreenAddress has remained committed to keeping both the GreenAddress android application and the GreenBits wallet operating concurrently for the time being.

Coin Fire is a cryptocurrency news site started on June 6th of 2014. The site focused on hard-hitting investigative stories. Coin Fire was acquired by 99Bitcoins on October 2015.

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