Developed by a startup of the same name Bitsy bitcoin wallet will be open on November 12 for public beta testing, the report said Medici Ventures, the venture capital division of the online retailer Overstock.
“The new platform is based on a Bitsy application creates an incredibly easy, safe and friendly to the users of the bridge between bitcoin and the dollar”, — said in a press release.
Application for secure purchase, transfer and storage of bitcoins will be available for devices on Android and iOS. The company notes that users Bitsy has full control over their assets and the possibility of direct transfer of funds. The application also contains the innovative recovery system of accounts, which will allow users to regain access to their funds in case of need.
According to the head of Overstock Patrick Byrne, bitcoin white paper gave great hope for the emergence of tools for direct exchange of values without needing to trust any middlemen. However, he notes, few realize that traditional wallets do not give the user actual control over their bitcoins: they belong to the providers that give users the right to demand. Users therefore have to trust to the Corporation, and the whole point of cryptocurrency is lost.
“Bitsy allows users to own and fully control their cryptocurrency without the risk of losing keys. It sets a new standard for digital wallets. We are happy to continue our cryptocurrency journey to integrate technology in Bitsy Overstock.com to offer the ability to purchase bitcoin directly on our website in the first half of 2019,” said Bern.
Starting Bitsy wallet was first announced in September. As it was reported, Overstock.com expects to start selling the cryptocurrency on its website in the next year.
Previously, Patrick Byrne announced the sale of 10% shares in Overstock. Which earned them about $20 million, he has announced plans to invest these funds in the blockchain. One of the first such investment was the funding of $6 million of the social network of Minds last month.
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