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Blockstream Green vs Phoenix

Comparing
two wallets
Decided by
Editorial rating
Last reviewed
2026-08-26
Blockstream Green3.7

Blockstream's own Bitcoin and Liquid wallet, whose 2FA cosigning multisig is its reason to exist and has been closed to new accounts since May 2025.

Phoenix4.0Bitcoin-only

A real Lightning node on your phone from the team behind Eclair, with a published fee table and a privacy tradeoff ACINQ states outright.

Verdict: Phoenix

Phoenix rates higher on our rubric: 4.0 against 3.7 for Blockstream Green.

Criterion
Editorial rating
Blockstream Green
3.7
Phoenix
4.0

Blockstream Green and Phoenix, fact by fact

Every row is from the two reviews as of their review dates, with sources on each. A check marks the side a decidable criterion favours; rows without one are information, not a score.

Blockstream Green and Phoenix compared fact by fact from their reviews; a check marks the side a decidable criterion favours.
FactBlockstream GreenPhoenix
Editorial rating3.74.0 (favoured on this row)
StatusAvailableAvailable
Made byBlockstreamACINQ
PriceFree downloadFree download
Who holds the keysself-custodial, either single signature on your device or a 2-of-2 where Blockstream cosigns after your two-factor checkself-custodial, a real Lightning node running on your phone behind a 12 word seed
Bitcoin-onlyNoYes
Runs oniOS, Android, Windows, macOS, LinuxiOS, Android
ScreenNot statedNot stated
ConnectivityConnects to your own node and routes over Tor with one tap, and pairs with the Blockstream Jade hardware walletLightning only, connecting to ACINQ's nodes, with the option to watch the chain through your own Electrum server
Released2014 as GreenAddress, renamed after Blockstream acquired it in 2016December 2019, alongside ACINQ's Eclair node implementation
Countries on the maker's listNo published listNo published list
Last reviewed2026-08-252026-08-26

Pros and cons, side by side

Blockstream Green

What works

  • A cosigning key behind two-factor authentication, so a thief with your unlocked phone still cannot spend
  • The cosigner cannot trap your coins: a CheckSequenceVerify timelock hands each deposit back to your key alone after about 360 days
  • An open source recovery tool exists for the case where the 2FA service is permanently switched off
  • Runs on iOS, Android (Google Play and F-Droid), Windows, macOS and Linux
  • Pairs natively with Blockstream Jade, so the keys can live on a device instead of the phone
  • Open source, no documents required, and it can connect to your own node over Tor

What to watch

  • New 2FA Protected accounts have not been available since May 2025, which is the feature most people came for
  • Keeping 2FA protection on older coins means redepositing them before each timelock expires
  • Not bitcoin only, and Liquid balances depend on the Liquid federation rather than on bitcoin's mining
  • The cosigning server sees a 2FA wallet's transactions, a privacy cost single signature does not have
  • Three names in circulation (Blockstream Green, the Blockstream app, Multisig Shield) make guides and support articles hard to line up

Phoenix

What works

  • A real self-custodial Lightning node on the phone, not an account on somebody's server
  • Fees published as a table on ACINQ's own site: 0.4% plus 4 sat to send, free to receive when you have liquidity
  • Standard BIP39 seed on a BIP84 path, recoverable in Electrum if ACINQ ever disappeared
  • Built by ACINQ, which develops the Eclair implementation and runs a large routing node
  • Rotating taproot receive addresses, with swaps that look like ordinary transactions on chain

What to watch

  • ACINQ's own FAQ says Phoenix offers no privacy advantage over a custodial wallet and that ACINQ knows the destination and amount of payments
  • Receiving without enough inbound liquidity costs 1% plus mining fees, and a new channel costs 1,000 sat
  • No on-chain balance, which makes it a spending wallet rather than somewhere to park savings
  • Recovering from a force close takes roughly 720 blocks, about five days
  • Wake-up notifications rely on Google services, so GrapheneOS users need the sandboxed Play Services app
  • Was off US app stores from May 3, 2024 until some point in 2025, which is why some reviews still call it unavailable there

Frequently asked questions

Is Blockstream Green or Phoenix better?

Phoenix rates higher on our rubric: 4.0 against 3.7 for Blockstream Green. The rating follows the product rubric published on our about page; the rows above set custody, price and platforms side by side so you can check it.

Are Blockstream Green and Phoenix free?

Yes, both are free to download. What differs is who holds the keys: Blockstream Green is self-custodial, either single signature on your device or a 2-of-2 where Blockstream cosigns after your two-factor check; Phoenix is self-custodial, a real Lightning node running on your phone behind a 12 word seed.

Is Blockstream Green or Phoenix bitcoin-only?

Phoenix is bitcoin-only; Blockstream Green supports other assets too. Bitcoin on chain, Lightning, and Liquid assets including Liquid bitcoin and Tether USDt

The full reviews: Blockstream Green and Phoenix, each with its sources, and every wallet we review.

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