The end result is that they have full control over your greenaddress bitcoin wallet. If you’re a US citizen, you’re entrusting your funds to a private offshore company with no regulatory oversight from your home country. This might sound fine in the beginning until your funds are frozen. I go into more detail about my personal horror story below.
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. If you need a full-fledged wallet, I recommend using Electrum. The mnemonic mentioned above can also be imported into Electrum.
However, there seems to be a third-party recovery tool for extracting Bitcoin Cash. Confusing UX can lead to trapped funds It’s relatively easy to get your wallet into a state where anyone can send money in but no money can ever leave the wallet. If you have any ideas on how I can make it happen or want to just call me an idiot, don’t be afraid to get in touch. Let’s pretend you’re a new user creating a new wallet. This is just the standard signup flow so far. Now set up two-factor authentication using Google Authenticator. Then you let a long amount of time pass and forget that you ever set up two-factor auth on the wallet.
Then you log in after months of inactivity and get a friend to send money into the wallet. So you happily instruct your friend to send money into the wallet. Once the transfer is confirmed, you try to send some money out. Then you realize how utterly fucked you are. Except using it requires having an email address associated with the wallet! So you try to add an email address. So the UX issue boils down to treating email as an optional two-factor method alongside Google Authenticator.
Calling it a two-factor method discourages actually using it because most apps in the wild don’t follow that pattern. Also, not requiring the two-factor method to login but requiring it for sending out money encourages a scenario where funds can become perpetually trapped. Sorry support but anxiety is highwhat about the lost 2fa? Any news on the lost 2FA solution? More one time just to globe the lost 2fa issue. The 2FA lost and no email issue stills alive! Successfully used garecovery for lost 2FA.
Old Google Auth 2FA problem – anything I can do? Greenaddress support I’m willing to pay for your services please help me. Do not use Google Authenticator for 2FA. Use an app that has recoverable seeds such as Authenticator Plus.
The seeds will survive an OS upgrade. Do not use a centralized wallet service that can control your funds. I enabled Google Authenticator two-factor authentication on the wallet immediately. However, later when I attempted to move the bitcoins out of the wallet, I discovered that I was restricted as the Google Authenticator on my mobile device was not communicating with the wallet. One of the main problems of using Bitcoins is that you are responsible for the safety of your own currency.