San Diego-based Airbitz now allows its customers to purchase and sell Bitcoin in a safer way directly from its brand-new app, using Edge Security platform and BitID protocol.
“At Airbitz we initially wanted to solve the huge bitcoin pain point of ease-of-security and are confident we’ve accomplished that task,” says Paul Puey, CEO & Founder of Airbitz. “The next biggest challenge was to retain that security, privacy, and autonomy model while providing an easy way for people to acquire bitcoin.”
He continued: Many evangelists complained of the challenges of teaching people to go to one website to acquire bitcoin but then have them transfer it to a wallet. By integrating buy/sell within our app, we’ve enabled the acquisition, storage, and use of bitcoin that retains bitcoin’s core advantage: ownership of value with no 3rd party. And soon we’ll be completing the loop by integrating ways for people to spend their bitcoin from within the app,”
It’s necessary to note that the new app is non-custodial. Customers can control their BTC without trusting them to some institutions. Actually, Paul Puey says that this is “just as Bitcoin was intended.” It’s impossible to disagree. So far, Bitcoin aims to struggle against financial dependence.
As for BitID protocol, it uses the same cryptography that Bitcoin uses to prove the ownership of a particular key. Basically, the protocol eliminates the concepts behind usernames and passwords. BitID allows users to sign a message with their private key to login to online accounts via their Bitcoin wallets. “Just as sites now allow for logins by connecting social media accounts, BitID works the same way but with far fewer privacy concerns,” says Airbitz site.
“We often hear about how Bitcoin isn’t just limited to being a currency or alternative payment system. Did you know the same underlying technology that powers these functions can also be used as login credentials? Instead of keeping up with a pile of usernames and passwords, imagine if you could access your online accounts with one private ID. It’s called BitID, and you can use it today,” noted Mr. Puey.
Lastly, Edge Security is that particular feature, which makes Airbitz claim to provide the most secure Bitcoin wallet. Thanks to EdgeSec technology, Airbitz customers’ wallets are less vulnerable to cyber-attacks and hackings. Edge Security offers users features ranging from data encryption to data backup to revision history and data rollback to full-on synchronization across multiple devices.