BlockTrail Launches Multi-Platform Bitcoin Wallet With No Access To Your Coins

Does the Bitcoin community need another wallet? Amsterdam-based BlockTrail reckons there’s space for another player, despite some sizable and well-funded wallet entities already — such as Blockchain.info and Coinbase, to name two. The former has raised around $30 million to date, according to Crunchbase, and apparently racked up around 4 million users; while the latter has some $107 million in funding and circa 2.5 million users.

Other pretty visible wallets include Circle and Xapo, and there are of course scores of smaller wallet apps. (Albeit bit-player wallet apps might not be the kind of place you want to store your Bitcoin wealth.)

The new Dutch challenger BlockTrail, which has been live in the Bitcoin analytics space since 2014 — and is backed by €500,000 in seed funding from its co-founder Lev Leviev (who also founded Russian Facebook rival Vk.com) — has just launched a multi-platform Bitcoin wallet (iOS, Android and web) which it claims is more secure than some existing alternatives, owing to implementing multi-signature and HD wallet, which earlier-to-market Bitcoin wallets may not have.

And which it says is more in keeping with the decentralized spirit of Bitcoin — since users of its wallet create and store their own private keys, rather than trusting in it to be a central key control and coin repository — a la Coinbase, for instance. Update: NB: Coinbase does, however, offer a multi-signature vault product for pro users which also lets users keep their own encryption keys. Of this it notes: “Coinbase has no ability to move funds (which means you are safe from Coinbase being hacked, going bankrupt, or anyone seizing your bitcoin). It also means that you as a customer have much greater responsibility in storing your backup key securely. If you lose this backup and forget your multisig password, Coinbase cannot help

Originally appeared at: http://techcrunch.com/2015/09/12/blocktrail-does-a-bitcoin-wallet/