Phoenix Wallet is a safe method for using Bitcoin if you are not using a hardware wallet or a "multisignature" custody setup.
- The wallet is open-source and has been reviewed independently to make sure there is no malware or backdoor.
- The developers cannot have access to your Bitcoin wallet.
- The private keys that control the Bitcoin are encrypted on your phone. To spend money, you must decrypt your device with your biometrics.
- Phoenix Wallet protects you well against non-hacker people that gain access to your phone.
- Phoenix Wallet is more vulnerable to malware and hackers than hardware wallets.
- Phoenix Wallet lets you create backups easily and securely which let you recover access to your money if your phone is damaged, lost or stolen.