Sunday, November 6, 2011
Bitcoin's Killer App is Here
What if there was an application that gave you a completely secure Bitcoin wallet, made downloading the client and blockchain a thing of the past, and required the computer skills of your average Facebook user?
Ladies and gentlemen, it's here. The app has arrived that will sweep the Bitcoin community off its feet: StrongCoin.
- Web-based e-wallet - no more client or blockchain downloads;
- Client-side private key generation and encryption - invulnerable to hackers as long as you choose a strong password for your wallet (as with your normal online banking). StrongCoin does not know your password and cannot access your wallet;
- Imports your offline-generated and encrypted private key, if you so desire;
- Printable paper wallet with encrypted private key for safe and secure backup;
- Address book;
- Send/receive Bitcoins;
- QR code generation;
- Encrypted keys are backed up every 24 hours to a fully redundant data storage infrastructure;
- Access your Bitcoins from any device, including Kindle.
What's the catch? A 1% fee, up to a maximum of 1 BTC, on all outgoing transactions. WELL worth it.
I think we all agree that downloading a client is not the way to go for most people. It's slow, difficult for grandma to install, and not secure unless you take the proper steps which can be very technically demanding.
Finally, we have an app that will open up Bitcoin to a whole new segment of society. This is exciting. The Bitcoin Trader is excited.
Edit: if you'd like to be walked through StrongCoin, click on "Simple Bitcoin Guide" at the top of the blog.