Overstock’s Bitcoin Wallet Bitsy Is Available For Public Beta Testing
A bitcoin wallet developed by Bitsy startup will become available for public beta testing on November, 12th, reports Medici Ventures, venture department of Overstock online retailer.
As it is said in the press release, a new platform based on Bitsy app creates a simple, safe and user-friendly bridge between bitcoin and USD.
The app for safe buying, transferring and selling bitcoins will be available for devices running Android and iOS. The company notes that the Bitsy’s users are provided with full control over their assets and an opportunity of direct transfer of funds. The app also contains an innovative system of account recovery which allows the users to return access to their funds if needed.
According to Overstock’s head, bicoin’s white paper gives hope for appearance if a mean of direct exchanges of objects of value without need to trust intermediates. However, he says that few people understand that traditional wallets don’t provide the users with control over their bitcoins: their belong to providers who let the users to ask for them. Thus, the users have to trust the corporation and the idea of cryptocurrencies is lost. Bitsy allows the users to own and fully control their cryptocurrency without a risk of losing their keys, he says. This is a new standard of digital wallets.
Bitsy wallet launch was first announced in September. As it was reported that time, Overstock.com was planning to start selling cryptocurrency on its site next year.