Review 20 – Netki

Netki

After finding the Bitholla service, which I recently wrote a review on, I found another service that Bitholla had partnered with called Netki. In an attempt to find the perfect way to have a verbally transmittable Bitcoin address I decided I would give this service a look.

netki_1Netki is the service that powers Bitholla’s usage of names to which they connect Bitcoin addresses. It seems that Bitholla purchased bitholla.me through Netki and they are using the API to add your username to their domain. There are other services that have partnered with Netki and I think you’ll find a few of these names familiar: Changetip, Uphold, Purse, Bitquick, Blockcypher.

When you register a wallet name you have to register a domain name. You cannot use your own domain name. You can’t use this domain for anything else. You can’t use DNS to allow you to host a webpage, email, ftp, or any other service that comes with buying a domain name. It’s Netki and nothing else. If you are purchasing a premium domain name, this may be a terrible waste of money. The TLD .com is going for $21, .net is going for $24, .org is going for $22. And all of these are yearly costs. You can get these for half the cost at Namecheap. You can get some TLD like .bit addresses as low as $1.95 through Netki. This means that Netki is using Namecoin, which is based on Bitcoin, for this function.

netki_6Because I wanted to follow through on this review I purchased incbits.bit for $2. I had the options to pay with a credit card or pay with bitcoin. I chose the latter, of course. The process was simple and fast, as usual. I was asked to do so, but be aware that you don’t have to fill out your profile.

netki_2You can add additional wallet names once the domain is yours.

netki_4You can also add additional currencies to wallet names.

netki_7

You can add wallet names to Coinbase and Uphold and it will create these wallet names with addresses in these services.

netki_5They do have a Chrome extension.

netki_3It allows you to resolve wallet names to addresses, but not much else.

Again, wallet names don’t function as a URL. This is one that is starting to annoy me. Technically I own the incbits.bit domain now, right? Or do I? I don’t see anything in the terms about who actually owns the domain I paid to register. But because these names don’t function as a URL someone has to be a member of one of the Netki partners to use the wallet name. How hard would it be to set up a simple profile page like BitcionWallet.com did?

And, again wallet names don’t support xpub. This trend is disturbing, actually. The odd part is that I watched the video and it says that Netki supports BIP32, or HD wallets. If that’s the case I should be able to punch in my extended public key, or xpub, as my address and it should determine the wallet addresses in my wallet as needed. I’m not going to harp on it at this point. Just know that the workaround is to log in and change your wallet address from time to time if you don’t want to stick with a static one.

For my final verdict I’m going to go back to what I said before. Netki is basically Bitholla on steroids. If you want a custom domain, multiple domains, and/or multiple address names at these domains, and you’re willing to pay for it, then Netki may be for you. Otherwise, just stick to Bitholla for free. It’s just as good, the price is right, and they have a mobile app with better features.

Posted in Other, Reviews, Services

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