Bitcoin is easily the most talked about new form of currency in the world. Ever since it was first introduced the public in 2008 it has steamrolled in popularity because of its ease of use and its applications in the dark internet. Many people are using bitcoin as an investing tool. The currency increases and decreases in value depending on supply and demand.

There are also outside forces that can affect the value. There are many different software programs and applications that can act as a wallet for bitcoin holdings. The company Blocktrail has released one that they say is destined to become the most used bitcoin eWallet in the world.

BlockTrail

The company was founded in 2011 for the purpose to give its customers the means to collect and distribute bitcoin. The company is based in the Netherlands. The dutch company was started with under $1 million in funding to help its customers access more information about cryptocurrency in a more efficient manner. They made it much easier to track and follow digital currency transactions.

The company has recently announced a new app that will make it easier and more efficient than ever to hold and exchange bitcoin. In other formats, exchanging bitcoin can be quite the hassle, It takes a specific QR code or an extremely long web address to send bitcoins to another person. This new application is certainly leading users into the next generation when it comes to bitcoin wallets.

One of the most highly regarded aspects of the new app is the fact that users have complete control of their private keys. This ensures that no third party will be able to gain access to them. This is a great security measure. This is one of the main reasons that the developers think that this will rapidly become the most used bitcoin wallet app in the world. They have done so well that they have been bought out by one of the biggest bitcoin mining companies in the world.

Bitcoin

Bitcoin has been in existence since 2008. It was a fringe form of cryptocurrency. That is until it started being used by Silk Road. Silk Road was a darknet marketplace that acted sort of as an internet black market. People could get anything they wanted there, but it was largely used to traffic drugs. The website was shut down in 2013 as the result of an FBI investigation.

This thrust bitcoin into the public eye because that was the form of currency that the side used to exchange money. Bitcoin has been slowly growing in popularity since then. As more people become aware of the currency and demand increases the value of the digital currency rises. The value of bitcoin acts much in the same way that the value of precious metals moves. That is to say that it moves inversely with the inflation and deflation of traditional currency.

Security

Security is very important when it comes to this currency. There have actually been some pretty large security breaches in different companies that hold bitcoins. In one hacking incident recently the culprits made away with $70 million in coins. Security is an issue because this form of currency is pretty new and there aren’t a lot of regulations in place yet.

The new application will be appealing to users because of the fact that it makes it easier to do transactions. The fact that it is very secure is also going to attract a lot of bitcoin users to the application. The Blocktrail app gives consumers everything they need when it comes to bitcoin.

The app is so desirable that the company was recently bought out by Bitmain. Bitmain is one of the premier bitcoin mining companies in the world. The buyout should help immensely with the branding and marketing of the new application on a worldwide level. This also enables the app to be released on a more worldwide level. Users can utilize the app in any language that they want.

The value of bitcoin seems to be constantly on the rise. It may have small valley here and there, but overall it has climbed immensely over the years. As digital currency becomes more and more widely accepted this new application will become more and more important to bitcoin users on a worldwide level.