The Blockchain android app provides a convenient way to access your bitcoin wallet on the move. Any keys you generate or transactions you make will be automatically synced with your My Wallet account.
All wallets are PIN protected, 4 incorrect attempts are possible before the main wallet password will need to be re-entered. Double encryption can also optionally be enabled in the wbe interface, when enabled a second password will need to be entered when before sending funds.
If you enter an incorrect PIN 4 times you will simply be asked to re-enter the main password. If you forget the main or second wallet password the coins will be inaccessible there is no password reset!
No, you can still login online using the web interface. Your encrypted wallet will be automatically saved on our remote servers.
When you pair your device with your My Wallet account access is granted to by-pass two factor authentication. So you will still need your yubikey / google authenticator app to login through the website but will not need to type this into the app.
It's completely free, you can optionally include a miners fee in transactions to have them processed faster by the network.
You are able to send to P2SH addresses, but at the moment you are unable to redeem the funds on a P2SH address. We're on it. This functionality is coming soon.