It securely stores your Bitcoins and shows account balances, transaction history, exchange rates and much more. Your Bitcoin keys are stored on your device only, and controlled only by you. Bitcoin adress bitWallet supports two types of wallets; Classic wallets accept all Bitcoin addresses and private keys. New random addresses can be generated, and existing keys can be scanned and imported.
Hierarchical Deterministic HD wallets derive all accounts, addresses and private keys from a single master extended key. Wallet seeds and deterministic keys are derived from BIP39 mnemonic sentences. Data Sources: bitcoin data is pulled primarily from Blockchain.
Exchanges rates provided bitcoin adress BitcoinAverage. Litecoin and Bitcoin Cash data is pulled from various Insight providers.
Additional data sources will be added as they become available. Your password is not stored on the device or anywhere else - if you forget your password there is no way to decrypt your wallet and recover your Bitcoins!
When the wallet is decrypted, the Private Keys still remain encrypted in bitcoin adress until needed to resist memory scrapping attacks. For added security, a setting is available to clear the wallet data from memory when the app is backgrounded.
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Only public addresses are transmitted to query balances and transactions - no other data is transmitted from bitWallet!