Frequently Asked Questions

Setting up a Bitcoin wallet is very easy. Start by downloading the wallet application from Play Store or App Store. Once installed, create your account and you will be ready to start transacting Bitcoin. Download Speed Wallet now to start your Bitcoin journey today.

There are several types of Bitcoin wallets, each offering a different balance of security and convenience. Mobile wallets (like Speed Wallet) are apps designed for quick, everyday use and support fast transactions (both via on-chain and Lightning Network). Desktop wallets run on your computer and offer more control but require careful handling. Hardware wallets are physical devices that store your Bitcoin offline, making them the most secure option for long-term holders. Web wallets are browser-based and easy to access but rely on third-party platforms. Finally, paper wallets store your keys on paper and are rarely used today due to security risks.

One Bitcoin is worth about $1,18,544.90 USD today, but its value shifts constantly due to market demand, news, sentiment, regulation, and global events—so the price won’t stay the same for long. Visit this page to check the latest price of Bitcoin in your local currency.

Because Bitcoin operates in an open market, its value depends on supply and demand, sentiment, regulations, global events, mining dynamics, and liquidity, among other factors .

For instance:

• A tweet, government policy, or media buzz can spark rapid price jumps or drops.
• Unlike traditional markets, Bitcoin trades 24/7 with no circuit breakers to slow volatility.
• Its fixed supply of 21 million coins makes it sensitive to sudden spikes in demand.

Bitcoin is pseudonymous, not fully anonymous—your name isn’t directly tied to your wallet, but all transactions are recorded on a public ledger (the blockchain). With enough data, identities can sometimes be traced.

As for legality, Bitcoin is legal in most countries, including the U.S., when used for lawful purposes. However, regulations vary—some countries restrict or ban its use, especially for trading or payments. Always check local laws before buying or using Bitcoin.

When choosing a Bitcoin wallet, prioritize security, speed, and ease of use. Look for features like two-factor authentication, biometric lock, support for multiple assets like BTC, USDT, and USDC, and seamless recovery options. Speed Wallet checks all these boxes and more. It’s one of the most secure Lightning wallets out there — built for instant, low-fee payments and real-world usage. If you’re looking for a wallet that’s fast, reliable, and ready for everyday crypto transactions, download Speed Wallet now.

Speed Wallet is available across 175+ countries worldwide. You can check if Speed Wallet is available in your country or not by visiting the Google Play Store (for Android) and Apple App Store (for iOS).
Speed Wallet is available across 175+ countries worldwide. You can check if Speed Wallet is available in your country or not by visiting the Google Play Store (for Android) and Apple App Store (for iOS).

Transfers on the Lightning Network are almost instant—usually just a few seconds. In contrast, on-chain Bitcoin transactions can take anywhere from 10 minutes to an hour, depending on network congestion and fee paid.

The cost to send Bitcoin depends on network traffic and how fast you want the transaction confirmed. On average, it ranges from a few cents to a couple of dollars. We recommend using Lightning Network for lowest fees and faster speed.

The time taken to transfer a Bitcoin depends on the number of transactions pending in the mempool. If there are a lot of pending transactions, it may take longer to confirm your payment and vice versa. However, the average confirmation time on the Bitcoin network is about 10 minutes.

You can start using Speed Wallet for free. There are no registration fees or recurring charges as such. However, a nominal Speed fee may be applicable for certain transactions. It is usually just a fraction of the payment and you will always see how much is being charged.

Speed is one of the best wallets for everyday Bitcoin payments. It’s easy to set up, user-friendly, and offers up to 5x rewards on every Bitcoin payment. Plus, with strong security features like 2FA and biometric lock, your transactions stay safe while you spend seamlessly. Here’s a comprehensive list of top 5 Bitcoin Lightning Wallets facilitating blazing-fast payments at lowest fees.

Some Bitcoin wallets can take a little time to get used to. However, Speed Wallet is designed to be simple, intuitive, and beginner-friendly. You don’t need any technical expertise to get started. Just download the app, create your account, and you’re ready to start sending, receiving, or buying crypto in seconds.

Yes! Speed Wallet offers a secure and easy-to-use Chrome extension that lets you manage Bitcoin, USDT, and USDC right from your browser. Fast, convenient, and built for seamless web payments.

Speed Wallet is one of the best Bitcoin wallet apps for iPhone. It combines lightning-fast payments, bank-grade security (with biometric lock and 2FA), and support for BTC, USDT, and USDC—all in a sleek, user-friendly interface. Plus, you earn rewards on every BTC payment, making it perfect for both beginners and power users.

For Android users, Speed Wallet stands out as a top choice. It offers seamless crypto payments, a built-in rewards system, Chrome extension access, and secure storage with multiple layers of protection. Whether you’re sending Bitcoin via Lightning or managing stablecoins, Speed makes it effortless and secure.

Speed Wallet is a top choice for desktop users—it offers a powerful web wallet that works seamlessly on both Windows and Mac. You can even install it to your desktop in one click for quick access, fast Bitcoin payments, and full support for BTC, USDT, and USDC.

Setting up Speed Wallet is very easy. Simply download the Speed Wallet app from the Play Store, App Store, or use the web version. Sign up with your email, set a password, and verify your account. Once you’re in, claim your Lightning address, deposit funds, and you’re ready to send or receive Bitcoin, USDT, or USDC. For step-by-step help, check our beginner’s guide.

Yes, with our dedicated mobile and web applications you can use Speed Wallet on mobile and desktop to manage your funds.

Speed Payment Solutions are built for businesses and merchants who want to accept Bitcoin & stablecoin payments at scale. It offers various tools for enabling fast & fraud-proof payments across every touchpoint. On the other hand, Speed Wallet is perfect for everyday use. From buying that morning coffee to shopping online, Speed Wallet supports lightning-fast Bitcoin and stablecoin payments.

Speed Wallet supports three of the most popular cryptocurrencies: Bitcoin, USDT and USDC. You can buy, store, or swap aforementioned currencies in just a few taps directly from Speed Wallet.

You can buy Bitcoin, USDT, or USDC on Speed Wallet by navigating to the respective tab of the currency you want to purchase. Tap “Buy”, complete your payment, and the chosen currency will be added to your wallet in no time.

Currently, Speed Wallet supports credit/debit card payments. ACH transfers are also available but only for users based in the U.S.

Bitcoin’s price moves constantly based on market demand, so the amount you pay depends on the real-time rate at the moment you buy.

When you buy through Speed Wallet, here’s what you can expect:

• Live market pricing – You get the most up-to-date Bitcoin rate at the time of purchase.
• Low, transparent fees – We charge one of the lowest buying fees in the market, shown upfront before you confirm.
• No hidden costs – There are no surprise markups or inflated exchange rates when you buy Bitcoin with Speed Wallet.
• All-in pricing – The total you see before hitting “buy” is exactly what you pay.

What this really means is you’re not just buying Bitcoin the simplest way possible—you’re doing it at one of the most cost-effective rates available.

You can buy up to $5,000 in a single transaction and up to $10,000 per day per card. There’s no monthly limit on how much you can buy.

Your crypto will usually reflect almost immediately after purchase.

Very secure. Speed Wallet combines biometric authentication, two-factor verification, and advanced encryption to ensure your funds stay protected from unauthorized access.

Speed is one of the most secure Lightning wallets available today — supporting Bitcoin, USDT, and USDC payments with bank-grade encryption, fraud protection, and 24/7 monitoring.

Yes, along with 2FA, Speed Wallet also supports biometric authentication and has several robust security measures in place to ensure your funds are always safe and away from harm’s way.

Yes, wallets with poor security measures can be vulnerable to hacks—especially if users fall for phishing scams, use weak passwords, or store private keys unsafely. That’s why Speed Wallet uses biometric lock, 2FA, and bank-grade encryption to protect your funds and help prevent unauthorized access.

You can enable Two-step verification in Speed Wallet by navigating to Settings > Privacy & Security > Two-step Verification. Tap on Activate, add your mobile number and you are good to go! We strongly recommend enabling Two-step verification for added security.

No worries—if you forget your password, you can easily reset it using your registered email address. Just follow the reset link sent to your inbox and you’ll be back in your account in no time.

If you lose access to your wallet or phone, don’t worry—you can still regain access to your Bitcoin wallet. Simply reinstall the Speed Wallet application on a new device and reset your password using your registered email. Your funds stay safe as long as no one else has access to your email and wallet.

💡 Tip: Always use a strong email password and enable 2FA for extra security.

To protect yourself from scams and phishing:

• Never share your account password with anyone—no legit app or support team will ever ask for it.
  Always double-check website links and email senders—scammers often mimic real brands.
• Only download the wallet app from official sources like the App Store or Google Play.
• Avoid clicking on suspicious links in emails, messages, or social media DMs.
• Enable 2FA on your wallet and email for added security.
  If it sounds too good to be true—it probably is.

Stay alert and think twice before you click or share anything.

No, there are no fees on receiving payments. You can receive Bitcoin, USDT and USDC from your existing wallet or friends directly into Speed Wallet for free. To put this into perspective: several wallets like the Wallet of Satoshi charge exorbitant fees on both sending and receiving payments.

Yes, Speed Wallet fees may be levied on certain transactions. However, it is generally just a fraction of the payment and you will always see how much is being charged. The fees help us keep the wallet secure and ensure a seamless user experience across all the platforms.

No. All the payments made via Blockchain or Lightning Network are permanent and irreversible. Always double-check the amount and recipient address before sending.

A network fee is a small charge applied to all crypto payments, including BTC, USDT, and USDC. It’s paid to miners or validators to process and confirm your transaction on the blockchain. To avoid high fees and enjoy faster payments, we recommend using the Lightning Network whenever possible.

A Bitcoin transaction fee can include a small platform fee charged by the wallet or service you’re using.

The network fee is paid to the blockchain network (miners or validators) to confirm your transaction. It varies based on network congestion and how fast you want the transaction processed.

The transaction fee refers to any platform fee charged by the app or service you’re using—on top of the network fee.

Speed Wallet charges no transaction (platform) fee. You only pay the network fee, which is auto-optimized for speed and cost.

Yes. Speed Wallet supports instant and free multi-currency swaps. Meaning, you can swap Bitcoin, USDT, and USDC anytime in just a few taps.

Stablecoins aim to stay pegged (usually to $1), but small price swings can still happen—typically a few cents up or down.

This can be due to sudden spikes in demand, market panic, delays in redemption, or questions around how well the stablecoin is backed. In most cases, these fluctuations are temporary and self-correct as supply and demand balance out.

If a stablecoin is well-managed and fully backed, it usually holds steady. But not all stablecoins are created equal—some are more reliable than others.

USDT and USDC are the most trusted stablecoins because they’re widely used, backed 1:1 by real assets, and regularly audited (especially USDC). They’ve handled billions in transactions and held their peg even during market chaos—making them the go-to choice for most users.

Yes, you can. With Speed Wallet, you can buy, send, receive, and use stablecoins like USDT and USDC—no exchange account needed. It’s simple, secure, and built for everyday use.

Yes, you can. Speed Wallet allows you to convert your USDT or USDC to Bitcoin. These swaps are instant and free.

No, you don’t need a special wallet. Speed Wallet lets you buy, store, send, and spend stablecoins like USDT and USDC—all in one place. Simple and hassle-free.

USDT and USDC are the most popular and widely used stablecoins. USDT has the highest trading volume and is accepted almost everywhere in crypto. USDC is known for being transparent and fully backed by cash and short-term U.S. Treasuries, with regular audits. Both are considered safe and trusted by millions of users worldwide.

Backing means the stablecoin is supported by real assets—like cash, bank deposits, or government bonds—to match the value of every coin in circulation. For example, if a stablecoin has 1 billion coins, it should have $1 billion worth of assets backing it.

Reserve transparency is how openly a stablecoin issuer shares proof of these assets. The more frequent and detailed the audits or reports, the easier it is to trust that the stablecoin is actually backed as claimed. USDC, for instance, is known for high transparency, while others vary.

Yes, stablecoins like USDT and USDC are legal in most countries, but how they’re regulated varies.

USDC is issued by a U.S.-regulated company and follows strict compliance and transparency rules. USDT is widely accepted but has faced more scrutiny over its reserves in the past.

Many governments are now working on clear stablecoin regulations to ensure they’re safe and properly backed. So while they’re legal, always choose well-known and transparent stablecoins.

Speed Wallet supports USDT and USDC—two of the most popular and trusted stablecoins. You can buy, store, send, receive, and even swap them for Bitcoin instantly, all within the app.

Absolutely. Speed Wallet features dozens of games that you can play to earn Bitcoin, USDT or USDC.

You will earn Speed Rewards on every Bitcoin payment made via Speed Wallet. These rewards will be automatically credited to your account. There are no additional steps required from your end to collect rewards. You can convert Speed Rewards to Bitcoin SATS in just a few taps.

You can redeem Speed Rewards for Bitcoin SATS by navigating to Rewards > Redeem. Please note, a minimum of 40 Speed Points are required to redeem.