SecureBTCWallet launches to protect Bitcoin owners from custodial risks
Following the FTX scandal, Bitcoiners have been running away from well-known exchanges like Binance and Coinbase in leaps and bounds. Non-custodial solutions like SecureBTCWallet provide a safe shelter.
The security of SecureBTCWallets comes from its simple architecture that relies on a well-known Bitcoin standard, BIP-39. With BIP-39, one can create a unique wallet with 24 keywords. Plus, SecureBTCWallet is designed to minimize its users network exposure. The app is offline in all its critical functions, and makes three HTTPS calls only, to check the user's balance, fetch the latest network fees, and submit the signed & encrypted transaction to the Bitcoin network.
The best way to ensure security is to hold on to your Bitcoins, and not give it to some third party exchange, the app creators suggest. As a best practice, the users would have to choose a cold-wallet such as a hardware wallet that they would need to pay for, or use a desktop based software like SecureBTCWallet. While software cold-wallets are available on both mobile and desktop, mobile wallets are known to be prone to misuse, because they're too accessible. Thus, the desktop is the only viable option if the user is not willing to pay for a hardware wallet.
That said, one can increase the security of their funds by splitting them in multiple wallets. "We do not recommend our users to put all their Bitcoins on SecureBTCWalllet. The user will be safer if they divide their Bitcoins into multiple wallets because no matter how secure the Bitcoin architecture is, one may steal your seed phrase and access your funds. So choose your seed phrase wisely, and do not put all your eggs in a single basket" says the founder of the company that goes by the pseudonym Satoshi.
SecureBTCWallet does not require PII (Personally Identifiable Information)
For more information and to download, please check out https://www.securebtcwallet.com