SpectroCoin SpectroCoin Website

Web Browser, Android Mobile, iOS Mobile, Windows Mobile, and SpectroCoin Card can be used at ATMs.
  • ValidationCentralised
  • AnonymityLow
  • Ease of useEasy Beginners
  • Supported Coins
  • BTC
  • ETH
  • DASH

Pros & Cons

  • It is simple to understand how it works, and the card offering is intuitive.
  • You know your own private key, and as long as you keep your encryption password safe, no one else will know it.
  • Their fiat transactions are generally considered to be quick.
  • Support staff are available 24/7.
  • CryptoCompare lists some serious-sounding user reviews, and there aren’t enough positive reviews on the site to compensate for the negative ones.
  • Only offers Bitcoin, Ethereum, and DASH.
  • The wallet does not use open-source technology.
  • The wallet’s security rating is not good enough for investors.


Buy and Sell from inside the wallet, Built-in Exchange, Attach a debit card to your wallet, ability to buy discount vouchers and gift cards, and the SpectroCoin Card, which can be used globally at any ATM.

Wallet Info

Vytautas Karalevicius is the CEO of SpectroCoin.
Free to download. £1 per month for SpectroCard. Standard Bitcoin transaction fees, except for transactions within the SpectroCoin network, which are free.
Private Keys Stored by
You and a third party, encrypted with your password
What it is

A desktop and mobile application running a ‘hot’ cryptocurrency wallet (one that is connected to the Internet) that is connected with a built-in cryptocurrency exchange.


SpectroCoin should remind users of a traditional banking system – with a difference. SpectroCoin offers more features and accessibility options than most other wallets. In order to use the SpectroCoin Card, you pay £1 per month, which I would consider to be very low for ‘banking fees’. In return, you have an easy way both to pay with and to top up your cryptocurrency accounts. There is an exchange connected to your wallet, which first tries to match orders internally, but will then turn to exchange pools from other providers in order to remain competitive with its transaction pricing. You can thus buy and sell cryptocurrency as an investment from inside your wallet.

SpectroCoin currently supports three cryptocurrencies – Bitcoin, Ethereum, and DASH. They plan to include more, and their own coin offering that they are planning to release is known as Bankera (BNK). Out of 30 user reviews, 14 gave SpectroCoin the top 5-star rating, with an average rating of 4.2 stars.

The wallet application is multi-platform, working on more devices than any other wallet. It has a web application for desktop users, and works with Windows, Apple, and Android mobile devices, and also has a debit card option. Visit https://spectrocoin.com/en/bitcoin-wallet.html to download the wallet or to learn instructions for how to access the wallet on the web.


When using SpectroCoin, I keep a copy of my private key, which makes me the one in control of my cryptocurrency on the site. The version stored on the network can be encrypted with a password that only I know. If the exchange goes down temporarily, I can easily move and spend my cryptocurrency elsewhere. It is essential that you protect your private key and encryption password well –because the loss of either one would be enough to help someone steal your cryptocurrency.

SpectroCoin’s web site does not list any details of how users can back up their own cryptocurrencies or use their own seed keys. However, because SpectroCoin is analogous to a banking service, if you were to lose access to your cryptocurrency through theft or loss of a mobile device, you would be required to contact them, verify your identity, and have them cancel access to the lost or stolen device. Then you would need to change your password, and register a new device with their service, and have them generate a new wallet for you, because your private key could become compromised.

SpectroCoin does not support either multisignature or two-factor authentication. As such, I think it may be a good idea to use it only for smaller transactions. If you hold a lot of money in cryptocurrency, then it is better to store the bulk of your cryptocurrency on a hardware wallet. I would absolutely recommend against keeping any significant amount of savings in this wallet.

SpectroCoin has limited anonymity, so do not even consider using it for any transactions you want to be kept private. You are required to verify your name and address with SpectroCoin, so consider it like you would a traditional bank account.

The SpectroCoin wallet has a web interface for use with personal computers such as desktops and laptops. I would recommend not using it except in case of emergency, as personal computers are more vulnerable to hacking, JavaScript attacks, browser extensions and keylogger software. In other words, using a web browser to access your cryptocurrency is the least secure way to access it, and should absolutely never ever be done on a public computer that someone else has access to.

According to the SpectroCoin web site, 99 per cent of the funds on their exchange are stored in secure offline hardware wallets, which is a good security practice, because it will substantially reduce the likelihood of hacks against the exchange. Since there have been several high-profile hacks on exchanges recently, this is an important step that they have taken.

Using this Wallet

SpectroCoin is easy to use. It is meant to remind users of traditional, familiar, centralised banking systems where a bank is in charge. For this reason, it may be that SpectroCoin is a good solution for someone who is initially very sceptical of the cryptocurrency world and who has no special desire to ‘be their own banker’, but rather to use cryptocurrency with the convenience associated with using a centralised service. When you use their integrated exchange to buy and sell cryptocurrency using fiat currency, the exchange rate is calculated instantly at the time of the transaction, protecting users against highly volatile cryptocurrencies and slow blockchain networks.

The visual user interface is blue and orange, and the visuals suggest a modern, savvy, world-travelling user class. SpectroCoin is relatively user-friendly and easy to buy and sell with.

SpectroCoin offers its own cryptocurrency exchange, making buying and selling cryptocurrency as an investor relatively simple. Furthermore, cryptocurrency can be sent to any other SpectroCoin user instantly, free of any Bitcoin network charge. Since Bitcoin fees can at times be exorbitant, depending on the network load, this is actually a very useful feature indeed. Users can even send cryptocurrency to someone via e-mail who does not yet have a SpectroCoin account and they will then be invited to start one. So far as I know, this is as of yet the only way to circumvent Bitcoin transaction fees, which currently stand at £3.12 for an hour’s delay and £3.67 for a ten-minute delay. When Bitcoin was undergoing its rocket-like rise in late December 2017, these same fees were over £35. SpectroCoin’s integrated exchange offerings are especially good for merchants.

The most useful feature of SpectroCoin is its integrated SpectroCard. If your balance on your card is zero, you do not have to pay fees; otherwise, the card costs £1 per month to maintain.  This card works in ATMs around the world, making it especially useful for travellers.

Alternatives to this wallet

No wallets offer as many features or are available on as many platforms as SpectroCoin, nor do any wallets integrate quite so well with the traditional banking system. As such, there are no direct alternatives to SpectroCoin. However, many mobile wallets such as Enjin, Edge and Mycelium offer more security and anonymity, and are just as easy to use.


The ideal user of SpectroCoin is a world-traveller who is familiar with the world of banking and wants a fairly cheap and reliable way to spend cryptocurrency overseas. SpectroCoin is good for transacting – short term buying, trading, and selling, and designed for such a use case, but I would not recommend it for any kind of investing, or holding of cryptocurrency at all, owing to its lack of security features and user autonomy. Its lack of anonymity means that it should only be used for transactions that the user does not mind being tracked, as with the conventional banking system. In this way, the most useful purpose is to get a SpectroCoin Card and then use it as a low-cost international debit card.  I would not presently recommend it for any other reason, and even this reason depends on whatever the transaction fees of Bitcoin are at any given moment – about whether it is worth it to draw money at that time.

AuthorDavid Nugent

David is a forex trader and writer who has spent the last few years giving his opinion and spreading news about oncoming markets and trading tips. Besides from being a trader he is also a lifelong Everton fan and enjoys spending free time watching his beloved team in the premier league.

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