Bitsy company is reportedly ready to grant public access to the beta of its products – cryptocurrency exchange and wallet beginning from November 12.
According to the report on the website of Overstock.com, one of the Bitsy investors, the new products will be available for Android and iOS devices and users can easily download the apps from the corresponding markets for free. During the testing period, users will be able to trade and hold bitcoins, as the company noted. In addition, they will benefit from the service for crypto transfers service as well as "innovative and secure account recovery system to assist users in the event they lose their funds".
"Few people understand, however, that with conventional Bitcoin wallets, users do not have actual possession or control of the Bitcoins they buy: their wallet-provider owns the Bitcoin and provides a contractual claim to the consumer, who must then trust that corporation. This defeats the whole purpose of crypto. Bitsy wallets, on the other hand, allow users to possess and have complete control of their cryptocurrency without the risk of lost keys. This sets a new standard for digital wallets,” said Patrick M. Byrne, Overstock.com CEO and founder.
The company unveiled its crypto wallet project in September, though it was said to be aimed at transfers between individuals. However, further expansion and introduction of payments for goods and services is also possible.
As Bitsy spokesperson commented, the complete launch of the products is slated for Q1 2019.