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Blockchain Wallet VS Splitwise

Compare Blockchain Wallet VS Splitwise and see what are their differences

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All-in-one crypto finance platform for companies that run on stablecoins. Invoicing, payouts, treasury, budgets and AML — the whole money path in one non-custodial system. No banking friction, no spreadsheet reconciliation. sponsored
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  3. » Reviews
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Blockchain Wallet logo Blockchain Wallet

Popular cryptocurrency wallet for those looking to transform the financial system right from their...

Splitwise logo Splitwise

Splitwise is a free tool for friends and roommates to track bills and other shared expenses, so that everyone gets paid back. On the web, iPhone, and Android!
  • Blockchain Wallet Landing page
    Landing page //
    2023-06-16
  • Splitwise Landing page
    Landing page //
    2023-01-23

Blockchain Wallet features and specs

  • User-Friendly Interface
    Blockchain Wallet provides an intuitive and easy-to-navigate interface, making it accessible for users with varying levels of technical expertise.
  • Multi-Currency Support
    Supports multiple cryptocurrencies including Bitcoin, Ethereum, and others, allowing users to manage different assets within the same wallet.
  • Security Features
    Offers robust security features such as two-factor authentication (2FA), advanced encryption, and hierarchical deterministic (HD) settings to safekeep users' assets.
  • Built-In Exchange
    Includes a built-in exchange feature, enabling users to buy, sell, and trade cryptocurrency directly within the wallet.
  • Backup and Recovery Options
    Provides reliable backup and recovery mechanisms, ensuring users can restore access to their funds even if they lose their device.

Possible disadvantages of Blockchain Wallet

  • Centralized Control
    Despite its decentralized nature, the wallet itself is managed by Blockchain.com, leading to some degree of centralization which could be a concern for purists.
  • Transaction Fees
    Blockchain Wallet charges transaction fees which can be higher compared to some other wallets, especially during periods of network congestion.
  • Limited Altcoin Support
    While it supports major currencies, the variety of supported altcoins is limited compared to other wallets, which might be a limitation for altcoin enthusiasts.
  • Not Fully Open Source
    Unlike some other wallets, Blockchain Wallet is not fully open source, raising transparency and trust issues for some users.
  • KYC Requirements
    Certain features such as the exchange and buying/selling functionalities require users to undergo Know Your Customer (KYC) verification, which might be a privacy concern.

Splitwise features and specs

  • User-Friendly Interface
    Splitwise provides an intuitive and easy-to-navigate interface, making it straightforward for users to add expenses, keep track of debts, and settle up.
  • Multi-Platform Availability
    Available on the web, iOS, and Android, Splitwise ensures users can access and manage their expenses from almost any device.
  • Expense Tracking
    The app allows users to easily log and categorize expenses, which can be particularly useful for group trips, shared households, or any shared financial responsibility.
  • Flexible Split Options
    Users can split expenses equally, by percentages, shares, or custom amounts, providing flexibility in how costs are divided among group members.
  • Currency Conversion
    Splitwise supports multiple currencies, which is handy for international travel or groups with members from different countries.
  • Bill Reminders
    The app sends reminders for outstanding balances, helping users to stay on top of their payments and avoid forgotten debts.
  • Integration with Payment Platforms
    Splitwise can integrate with payment platforms like PayPal and Venmo for easy settlement of balances.

Possible disadvantages of Splitwise

  • Privacy Concerns
    Since Splitwise involves sharing financial information with others, there could be privacy concerns for those unwilling to share detailed expense data.
  • Subscription-Based Features
    Some advanced features, such as expense exporting and additional integrations, require a Splitwise Pro subscription.
  • Manual Entry Requirement
    Splitwise requires users to manually enter expenses, which could be time-consuming and prone to errors if not done diligently.
  • Limited Automatic Reconciliation
    While Splitwise helps track who owes whom, it does not automatically reconcile or pay off balances, leaving users responsible for manual payment.
  • Dependency on Group Honesty
    The accuracy of the expense records relies on the honesty and diligence of all group members, which may not always be reliable.
  • Potential for Confusion
    The various options for splitting bills (equally, by shares, etc.) can sometimes lead to confusion or disputes among users over what is fair.

Analysis of Blockchain Wallet

Overall verdict

  • Blockchain Wallet is generally considered a reliable and straightforward option for managing cryptocurrencies, particularly for users who value ease of use and mainstream features. While it offers a robust set of features for security and usability, it's important to exercise general caution with online wallets and consider additional safety measures, such as hardware wallets, for storing substantial amounts of cryptocurrency.

Why this product is good

  • Blockchain Wallet by Blockchain.com is well-regarded for several reasons. It offers a user-friendly interface, making it accessible for both beginners and experienced users in the cryptocurrency space. The wallet supports multiple cryptocurrencies, providing flexibility for users with diverse portfolios. Additionally, it incorporates essential security features such as two-factor authentication, hierarchical deterministic settings (HD), and backup options to safeguard users' digital assets. Its integration with the Blockchain.com exchange also allows for easier trading and conversion of cryptocurrencies.

Recommended for

    The Blockchain Wallet is recommended for cryptocurrency users who are looking for a balance between ease of use and functional diversity. It is particularly beneficial for newcomers to the cryptocurrency space who require a straightforward platform, as well as for active traders leveraging the safe and easy integration with Blockchain.com's own exchange. However, users needing advanced security measures or seeking to store large amounts of cryptocurrency might prefer more secure, offline storage solutions like hardware wallets.

Analysis of Splitwise

Overall verdict

  • Splitwise is a highly effective tool for managing shared expenses, especially if frequent splitting of costs is involved. Its features make it easy to track who owes what, and its automatic calculations save time and reduce errors.

Why this product is good

  • Splitwise is popular because it simplifies sharing and tracking expenses among groups, making it ideal for roommates, friends on trips, or any group spendings.
  • It automatically calculates balances and reminds users about payments, reducing the awkwardness of asking others for money.
  • Offers a user-friendly interface both on web and mobile apps, which makes managing expenses convenient and accessible.
  • Supports multiple currencies, which is great for international travel groups.
  • Integration with payment platforms like PayPal and Venmo for easy settlement of debts.

Recommended for

  • Roommates who need to regularly split household bills and expenses.
  • Groups of friends or families who often travel together and need to manage shared travel costs.
  • Colleagues or classmates working on projects or events that require shared funding.
  • Anyone who wants to avoid the hassle of manually tracking and settling shared expenses.

Blockchain Wallet videos

+ Add

Blockchain Wallet | Latest Review With Ratings | 2019 | in 8 minutes

Splitwise videos

+ Add

Splitwise - iPhone App Review! [2020]

More videos:

  • Review - Tricount vs Splitwise - App comparison
  • Demo - Splitwise Demo

Category Popularity

0-100% (relative to Blockchain Wallet and Splitwise)

Blockchain Wallet

Splitwise

Cryptocurrencies
100 100%
Cryptocurrencies
0% 0
Personal Finance
0 0%
Personal Finance
100% 100
Cryptocurrency Wallets
100 100%
Cryptocurrency Wallets
0% 0
Expense Tracking
0 0%
Expense Tracking
100% 100

User comments

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Reviews

These are some of the external sources and on-site user reviews we've used to compare Blockchain Wallet and Splitwise

Blockchain Wallet Reviews

20 BEST Bitcoin Wallets | Top Crypto Wallets in 2021
Mycelium is easy to use open-source and mobile-only blockchain wallet. It allows you to set custom transaction fees. This tool will enable you to choose how long you are willing to wait for a transaction to be completed.
Source: www.guru99.com

Splitwise Reviews

12 Best Bill Splitting Apps in 2023
Splitwise is among the most commonly used group payment apps that can easily keep a systematic record of all your informal debts including restaurant bills, travel expenses, cost of accommodation, and much more. With this expense sharing app, users can either create groups or split the bill privately among friends. Splitwise also registers and saves all the expenses and...
Source: www.mobileappdaily.com
6 Best Bill Splitting Apps for Hassle-Free Expense Sharing
Splitwise employs an intelligent algorithm to calculate the exact amount owed by each user. It shows who paid for what, how much amount was paid by each member, and any outstanding balances. Furthermore, the application also keeps everyone updated about their balances and recent transactions.
Source: www.how2shout.com
Best Bill-Splitting Apps
For example, shared items like appetizers would be split among the entire group or just a few people in the group. The app can handily accommodate large parties by allowing you to add up to 10 people to each group. Once you’ve divided up the food among all the plates you can add in tax and tip. The app is made by the same company as Splitwise and is completely free. The only...
Source: www.thebalancemoney.com
7 Best Budgeting Tools and Apps for Personal Finance
This one’s not a complete budgeting app but it’s still a handy one. Splitwise is a nifty app that helps people track how much they owe to friends and colleagues and vice versa. It makes sharing expenses on outings, meals, events, etc easy to track by logging in each transaction. It basically keeps a total over time, so that you can pay back the money in a large payment,...
Source: www.softwaresuggest.com

What are some alternatives?

When comparing Blockchain Wallet and Splitwise, you can also consider the following products

Exodus.io - All-in-one app to secure, manage and exchange blockchain assets.

Tricount - Manage and share expenses with friends

Toshi - A browser for the Ethereum network

Settle Up - SETTLE UP is an indispensable app for friends and flatmates who need to keep track of shared bills...

MyEtherWallet - MyEtherWallet is a free, open-source, client-side interface.

Splid - Splid helps friends manage their money.

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