The Bitaroo Wallet is a self-custody bitcoin wallet built into the Bitaroo app.
This 30 second video shows a Wallet being created, backed up and used.
Self-custody means the keys to the bitcoin are yours. The wallet's private keys are created on your phone and never leave it. Bitaroo cannot see them, cannot move your funds, and cannot recover them for you. That is the point: bitcoin in your Wallet is yours in the fullest sense.
Your Wallet and your Account are different things
- Your Account is the exchange side of Bitaroo. It is where you deposit AUD, buy and sell bitcoin, and withdraw. Bitaroo holds these balances for you, the way a bank holds a deposit.
- Your Wallet is bitcoin you hold yourself, on your own device. Bitaroo never holds or controls it.
You will see this difference in the words the app uses. Money moves in and out of your Account by deposit and withdrawal. Your Wallet is the side that sends and receives bitcoin on the Bitcoin network.
You can name your Wallet when you create it, and rename it later from the Wallet settings, which is handy if you have more than one.
Because the Wallet lives inside the Bitaroo app, moving bitcoin between your Account and your Wallet is simple, and the address verification that Australian rules require happens automatically. See "Moving between your Account and your Wallet" for how.
With self-custody comes one responsibility that Bitaroo cannot take on for you: your recovery phrase. It is shown once, when you create the Wallet, and it is the only way to recover your bitcoin if your phone is lost or broken. Please read "Backing up your recovery phrase" before you move meaningful funds.
If you have any questions, please contact our support team.