BitBucks Wallet
BitBucks is a project of the Digital Agency FUF // Frank und Freunde based in Stuttgart.[1] The wallet offers an opportunity to pay with the cryptocurrency Bitcoin instantly. BitBucks is available since August 2019 on iOS and since September 2019 on Android.
Contents
Main information
- Country: Germany
- Headquarter: Stuttgart
- Type: Wallet
- Launch: August 2019
- mobile OS: iOS & Android
Description
The BitBucks vision aims to integrate Bitcoin as a simple means of payment in everyday life. Frank Meier, CEO and Founder of BitBucks, emphasizes that “we want to democratize payments. Bitcoin is the alternative monetary system of the internet. With BitBucks we fix the issue of long transaction times. So Bitcoin can be used for instant payments now.”[2]
BitBucks claims to stand out from other wallets by its simple and innovative approach: Users just have to charge their BitBucks account with Bitcoins and then send the desired amount to the phone number of a friend or business partner. Even if recipients do not have the BitBucks wallet yet, the payment will be made immediately and added after registration.
BitBucks Wallet enables instant payments with bitcoin. Users register at BitBucks just by entering their phone numbers followed by a validation code sended to them via sms. Afterwards Users can top-up their BitBucks account with bitcoin by using another, for example non-custodial wallet such as Bread Wallet or Electrum. Any transaction within the BitBucks app, as well as the top-up of the account, are free of charge.[3]
BitBucks is keen on adapting Bitcoin into everyday life. Yet, they recommend every user that they should not store all their Bitcoin saving in the BitBucks app. The Wallet should be seen like a real wallet not like an another Bank account. It should only hold as much bitcoin/ money as is needed for everyday use.
App Features & Security
Every payment within the app can be calculated in the users desired currency and are made offchain. This keeps the blockchain free from microtransactions, which ultimately helps Bitcoin to stay decentralized. In order to provide the greatest possible security for payments, the work has been intensified on building up a secure infrastructure. By using multisignature addresses, the coins of the users are safely stored in “cold storage”. This makes an unauthorized stealing of Bitcoin impossible.
BitBucks in Retail
BitBucks is also fit to be used for merchants around the world.[4] To optimize this process, a BitBucks Webapp is planned to be released in the first half of 2020.
External links
- BitBucks Official website
- BitBucks Review
- BitPrime – BitBucks allows you to pay anyone using bitcoin