ArcBit is designed to be simple and easy to use, while giving users full control over their money. It offers an optional cold wallet storage feature with the ability to authorize payments offline for enhanced security.
Control over your money
This wallet gives you full control over your bitcoins. This means no third party can freeze or lose your funds. You are however still responsible for securing and backing up your wallet.
This wallet relies on a centralized service by default. This means a third party must be trusted to not hide or simulate payments.
This wallet is loaded from a remote location. This means that whenever you use your wallet, you need to trust the developers not to steal or lose your bitcoins in an incident on their site. Using a browser extension or mobile app, if available, can reduce that risk.
This wallet can be loaded on computers which are vulnerable to malware. Securing your computer, using a strong passphrase, moving most of your funds to cold storage, or enabling two-factor authentication can make it harder to steal your bitcoins.
Prevents spying on your payments
This wallet makes it harder to spy on your balance and payments by rotating addresses. You should still take care to use a new Bitcoin address each time you request payment.
Discloses information to a third party
This wallet uses central servers which are able to associate your payments together and log your IP address.
Tor can be used
This wallet lets you setup and use Tor as a proxy to prevent attackers or Internet service providers from associating your payments with your IP address.
Dynamic fee with override
This wallet provides fee suggestions which are based on current network conditions which you can override. This means that this wallet will help you choose the appropriate fee so that your transactions are confirmed in a timely manner without paying more than you have to, but ultimately gives you control if you want to override the suggestion.
Take time to educate yourself
Bitcoin is different from what you know and use every day. Before you start using Bitcoin for any serious transaction, be sure to read what you need to know and take appropriate steps to secure your wallet. Always remember that it is your responsibility to choose your wallet carefully and adopt good practices in order to protect your money.
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