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Review of multibit bitcoin wallet

Review of multibit bitcoin wallet

If you are an ordinary user of Bitcoin and want a wallet that just works, then MultiBit HD is the right choice for you.

MultiBit HD is:

Quick and easy to install
support all major desktop operating systems (Windows, OS X, Linux)
Secure by design
All your data is kept encrypted on your local machine and we support hardware wallets such as Trezor
Deterministic
A set of wallet words protects your bitcoin from data loss
Decentralised
No fixed servers only the Bitcoin network
International
supports over 40 languages

I’ve been a big Multibit fan for a while now. While I realize they have some detractors and haters, anything with one million plus downloads is going to have some unresolved issues.

My reason for using Multibit is that its a lightweight wallet. It quickly synchronizes with the blockchain without having to download it.

I’ve been using Multibit for quite a while, and found it very reliable. I feel its 100% impossible to lose my funds due to a system failure as I have a single wallet backed up in multiple places and I printed out the private key as added security.

Still, I have been following the development of HD wallets with great curiosity. The primary advantage of an HD wallet from my point of view is the never ending deterministic stream of new bitcoin addresses, all from the same seed words.

Feature Summary

Here are the important capabilities of MultiBit HD:

simple and intuitive user interface – big accessible controls each with a clear purpose
no worrying about losing private keys any more – use your “wallet words” (seed phrase) to restore them
fast and lightweight block chain download just like MultiBit Classic (SPV) about 25MB overall
private Contacts database with private notes and tags
private Payments database with integrated exchange rates
adjustable fees
adjustable units (support for bits, ubits, millis etc)
integrated exchange rates from multiple exchanges to support national currencies
export transactions with spot rates to a financial package in standard CSV format
themes to suit different lighting conditions
detailed integrated Help if you get stuck
available in many languages
Disaster recovery features

Technical Details

More technically minded readers will want to know that we support the following:

open source under modified MIT licence
pure SPV – connect directly to the Bitcoin network
random peer discovery (plus it will use your local Bitcoin Core if you are running one)
Tor support out of the box (optional)
Trezor support out of the box (just plug it in)
all data is encrypted locally using entropy gathered from your wallet words (12, 18 or 24)
hierarchical deterministic (HD) wallet support BIP32 and BIP44 (account 1 only in each case because it’s SPV)
all data automatically backed up to a location of your choice (encrypted)

Surely one of the best bitcoin wallet specially for those who are new to bitcoin because its really easy to use and has great features.You can download it here https://multibit.org/

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