Online bitcoin exchanges may seem to be the best way to purchase bitcoin. Perhaps, at first sight only. Newcomers to cryptocurrency industry are especially prone to trust such services.
However, when digging deeper, you will find out that websites don’t allow for full control over the funds. Trusting your bitcoin’s private keys to a third party can be rather reckless. Besides, online bitcoin exchanges are vulnerable to outages and hacks. As far as they don’t broadcast transactions to the bitcoin network in real-time, they don’t offer the level of functionality users expect.
A true bitcoin wallet is exactly what people need to securely store and spend bitcoin. True wallets, including the BitPay wallet, are compatible with the Bitcoin protocol and allow for full control over the private keys.
True wallets used to feature the only inconvenience – they didn’t offer an easy way to buy bitcoin in-app. But once BitPay announced Coinbase and Glidera integrations, the problem was solved. Now, BitPay wallet users can fill up their wallet balances directly from in-app exchange connections.
Meanwhile, Coinbase, one of the largest exchanges and wallets, has joined other exchanges planning to halt bitcoin transactions starting from August 1.
The BitPay wallet’s exchange integrations combine the best of two worlds – the security of a true bitcoin wallet and the convenience of buying bitcoin on an online exchange.
Last month, BitPay shared one more exciting announcement with its users. The BitPay wallet app became available on Windows Phone. The bitcoin payment service provider got so many requests that the team has done its best to prepare the release as soon as possible.
These moves are only a small part of BitPay’s plan to provide best services for Microsoft users. In 2015, Microsoft added BitPay’s Bitcore Bitcoin development platform to its Azure cloud service platform. In 2014, Microsoft started using BitPay for Xbox payments and other purchases in online Windows Store, thus becoming the most prominent company accepting bitcoin payments.
“It is clear that we have entered an inflection point with cryptocurrency where we can expect much more stability and a huge growth in market capitalization. We’re excited to continue to develop for the Windows Phone platform”, Microsoft’s Ashok Misra says.
This year, BitPay was chosen as a cryptocurrency payments processor for Deloitte that started accepting payments in digital currency at its internal restaurant called Bistro 1858 in Toronto.
“We’re excited to see a leading company like Deloitte exploring the possibilities with bitcoin payments,” Stephen Pair, BitPay CEO, commented the event. “We hope this test case will show users on a small scale what bitcoin can do for online payments and what BitPay is doing for businesses transferring value globally.”