BitPay Releases New App for Trading Bitcoin
BitPay continues being the leader in the Bitcoin payment field by releasing a new wallet app for all to use. Announced last Monday at the Money 20/20 event in Las Vegas, BitPay showed off its latest offering to a packed crowd. This is a major step for Bitcoin payment processor as it tries to solidify its hold over the Bitcoin payment ecosystem. With an app that is both user-friendly and feature-heavy, BitPay hopes to draw in more people into using Bitcoin as a means of payment.
Full of features
The real star of the show is the new wallet app that BitPay showed off. There are a lot of wallets in the Bitcoin market, with many of them associated with one payment processor or another. The big difference is that BitPay promises that this app will be an all-in-one tool for anyone who wishes to work with Bitcoin, featuring a full suite of features that would be useful for everyone starting with the most basic user to high-level business owners.
First of all, this new app aims to offer security and convenience so that even non-tech savvy users will have no problems using it. Bitcoin has had a reputation as a favorite of techies and this has put some casual users off. Besides being simple to use, the app allows for the conversion of Bitcoin to dollars through an integrated BitPay Visa Prepaid debit card. This is currently the only US-wide debit card for Bitcoin users. In addition, Bitcoin can be purchased and sold by users via exchanges, without even changing apps. This increases its convenience factor.
Security is ensured by giving users full control of their funds. Unlike other services where a user’s Bitcoin is kept in company-managed accounts, the BitPay Bitcoin wallet ensures privacy and control by the use device-based private keys, backup protocol and multi-device authentication. Even BitPay cannot touch a customer’s funds without express permission. In addition, when the app is downloaded, all new users are offered a simple tutorial with steps for easy navigation. By the time it is over, users would be able to do transactions smoothly and without any problems.
Refines BitPay’s experience
This app is the culmination of BitPay’s payment processing experience. According to BitPay Marketing and Communications Manager, James Walpole:
“This app is built on years of work spent refining the bitcoin payment experience with BitPay merchants and building a more secure bitcoin wallet with the Copay platform. We think we’ve been able to answer one of the core problems that have locked new users out of bitcoin: how to offer a beginner-friendly experience that doesn’t sacrifice security. This app is a way to get everything you need to start right with bitcoin, without trusting your money to a third party that can be hacked.”
BitPay has had years of experience helping multiple companies integrate Bitcoin payments. Their latest milestone was when they helped NetBet become the first UK-based gambling operator to accept Bitcoin. With a track record like that, users can be assured that this is an app that they can trust.