I follow bitcoin since march 2012 and i’m very much convinced by its superiority to other payment systems and currencies. Bitcoin rose 2012 from 20 to 1200 USD and we will probably see more heights this year.
One of the biggest stoppers for bitcoin, in my opinion right now, is the missing of easy tools. Tools which make payments in every day life as simple or simpler than credit cards or paypal.
I was surprised that i couldn’t find any simple browser based plugin, as the browser would be for me the most natural place to put a wallet. Because your can use it for shopping, paywalls or donations.
There are already some paywall systems for bitcoin (bitmonet or bitwall), but how do they want to succeed when people have to open up their wallet copy the address and all that stuff, just to read an article?!
There have to be simpler ways and therefore i started to work on a google chrome plugin, which is a simple bitcoin wallet.
The Bitcoin Browser Wallet can generate or import a private key and store it encrypted (using your password) in googles sync storage (or local storage, if you haven’t activated sync in chrome).
Everytime you make a payment you have to enter your password, so the wallet can decrypt your key and send it over HTTPS to blockchain.info API to make a payment.
You can always export your private key and reuse it with another wallet or just send your funds to another address.
- Send bitcoin by either entering BTC or USD (price will be calculated based on bitstamp.net)
- Import/export private key
- Detect bitcoin addresses (and amounts) on the websites you’re on
- simple and fast to use interface
This wallet is browser based, so there a re a few things your have to keep in mind when using it.
This wallet works through the blockchain.info API, so you have to trust them that they handle your private key securely when making a transaction and remove it properly after that. I personally do, as they are the biggest and one of the older Sites in the bitcoin space. They also gained a lot of trust as one of the securest browser based wallets.
As i think the AES encryption used to encrypt you private key in the wallet is secure, the only thing left is that you have to trust me. As Google chrome extensions update themselves automatically, i potentially could introduce an update which sends your private keys to me when you make a payment (because at that point you would decrypt your private key).
You don’t? then you can install it manually
If you don’t trust me you can still use the wallet, just install it manually and not from the chrome webstore. This way you use the code from github (which you can check * and trust) and there will be no automatic updates.
* The main file which contains all the wallet code (setup, sending, etc) is the wallet.js.
To do that just:
- download the wallet code from github.
- Open chrome settings -> extensions
- check “developer mode”
- click “load unpacked extension”
- select either the “bitcoin-browser-wallet” folder, or the “dist” folder inside. (“dist” is the folder created when you run “$ grunt dist”, which concatenates all js files)
Additionally and because of the above stated concerns, i would put only 10-100 USD on the wallet, money you will need for everyday purchases or donations. But definitely not your savings!
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