Send Bitcoin Like an SMS on the New Wallet App

By September 19, 2016Bitcoin Business

The latest offering from makes Bitcoin usage much easier. Bitcoin has been around for almost eight years now. In spite of it being hailed as one of the simplest ways to make fund transfer between two individuals, many people still find it complicated. Bitcoin transactions don’t need any third-party intermediary like banks or payment processors and it can be sent virtually anywhere on planet earth as long as both parties have a working internet connection. The whole concept is completely different from centuries old monetary system we have been practicing, which makes it hard for some people to comprehend. In order to make Bitcoin adoption easier, — The BITMAIN company has introduced a new wallet that makes executing Bitcoin transactions as easy as sending an SMS. The wallet is a creation of BlockTrail , a Netherlands-based company that was recently acquired by BITMAIN. The wallet application is available for both Android and Apple iOS mobile devices. Unlike conventional Bitcoin wallets, wallet doesn’t require users to enter the recipient’s wallet address to transfer the digital currency. They can just select the recipient’s contact from their phone’s contact list, enter the amount in either BTC, EUR, USD or GBP depending upon one’s choice of currency and hit send. In order to be able to send it directly to someone in the phone contact list, it is necessary for the other person to have his/her phone number verified on their account. However, that is just a small hitch which doesn’t stop one from using the wallet the old school way. wallet also allows its users to send bitcoin to any address by manually entering the recipient wallet address or by scanning the QR Code. What if the user wants to receive Bitcoin? The “receive” option on […]

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