How do you manage a cryptocurrency like Bitcoin from your smartphone? BitX‘s new mobile application aims to make the management and accessibility of Bitcoin a lot easier. The app has been designed by a team based in Cape Town, and hearks from the same stable as South Africa’s only Bitcoin exchange.
BitX’s app is the latest in a series of announcements from rivals in the Bitcoin world. At least two other Android and iOS apps launched recently with the same goals in mind. Our first impressions of BitX’s app is that it may well have the edge when it comes to UI and ease of use.
“BitX allows you to conveniently and securely send, receive and store your Bitcoins. The BitX Wallet is hosted on secure servers and Bitcoins are stored offline to ensure the safety of your Bitcoins. BitX also operates Bitcoin exchanges in several countries around the world,” the firm explains on the website.
The mobile app, which is available for Android smartphones (coming soon to iOS) can take you through the easy steps of buying and selling Bitcoin, and it’s also the first app of its kind that uses full KYC (Know Your Customer) integration. What that means is that can verify your mobile number and upload identification documents where applicable, through the application.
As part of the wallet’s functionality, you can also send and receive Bitcoin through QR codes, a standard wallet or any email address. Essentially, that makes it possible to use BitX in the same way as, say, Snapscan for quick payments in-store and in temporary shops or spaza stands. The app and payment mechanism will be used at MakerFaire Africa in Johannesburg next month, with the aim of encouraging entrepreneurs to adopt it.
“BitX makes it possible to instantly buy and sell Bitcoin straight from the app with our Quick Buy technology. This is currently only available in selected countries, but we’re working to bring it to more regions soon,” BitX’s site explains. “New users no longer need to deal with complex exchanges and ordering systems. Simply hit a button, tell us how much Bitcoin you’d like and confirm your order.”
So if you are new to Bitcoin and would like to start investing, the app is also ideal for cryptocurrency newbies.