Blockchain technology leader, Medici Ventures, has announced that its portfolio arm, Bitsy.com, has started a crypto wallet service with a beta version. According to Medici Ventures, the Bitsy service creates a secure, simple and convenient bridge between fiat and digital currency. For now, in this beta version, users can purchase Bitcoin (BTC). Meanwhile, the company is working hard to include other cryptocurrencies.
Bitsy Is More Flexible
Bitsy allows users to hold their cryptocurrencies in the wallet and gives them total power over how to spend them. This is unlike other cryptocurrency wallet providers that allow coin holdings in wallets as derivatives claims on providers’ coins. So, with the new wallet, customers can move and spend their cryptocurrencies with ease.
Also, Bitsy offers biometric security which guards against password losses and incursions. If a wallet is lost or destroyed, that’s not worth any Bitsy user’s headache. The reason is that it offers a unique and revolutionary way of recovering such funds.
The Medici Ventures Parent Accepts Cryptocurrencies
In addition, Medici Ventures’ parent company, Overstock.com Inc., has been accepting Bitcoin since January 2014. Today, it is accepting dozens of cryptocurrencies. In fact, it has plans to use Bitsy service to sell Bitcoin on the Overstock website. Overstock.com needs no introduction as it is a Salt Lake City-based merchant that sells a wide range of products. It stands out for offering products at lower prices.
On the other hand, Medici Ventures became a reality in 2014. Well, the purpose of establishing the company was to invest in companies that democratize capital in their industries. In the end, they get rid of the middlemen and improve commerce.
Overstock.com will Boost Bitsy Crypto Service
Some of the products Overstock.com sells include bedding, rugs, home improvement, furniture, and décor. Apart from home goods, Overstock.com also offers customers direct links to other products from third-party sellers. Indeed, it has other stores such as Worldstock.com and Pet Adoptions. These merchants are specialists in selling artisan products from around the world. Therefore, accepting the Bitsy platform will boost its wallet service in more ways than one.
The Chief Executives of Overstock.com Explains
Overstock Founder and CEO, Patrick Byrne, says that Bitsy sets an all-new standard in the industry. Byrne calls it a “game changer” because it can offer users the freedom that Bitcoin has always promised. The CEO said that also allows companies to sell Bitcoins from retail sites. By doing so, Byrne added, Overstock is taking the industry to the next level.
Echoing the opinion of the Overstock’s CEO is Bitsy’s CEO, Ann-Marie Hopkins. She posited that the objective of Bitsy is to make Bitcoin easy to use. Hopkins added that they are delighted to have Overstock and Medici Ventures as partners in the quest to improve cryptocurrency adoption.
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