Tuesday, January 23, 2018
Home The Bitcoin News Octopocket: Where Bitcoin Meets Telegram

Octopocket: Where Bitcoin Meets Telegram

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The Octopocket team are members of a Bitcoin Association  in Spain called avalbit.org. They love bitcoin and do monthly meetups to introduce people to blockchain technology.

The project believes that practice is more important than theory, and they want to make their platform as simple to use – and access – as possible.

Manual Sales, the system architect at Octopocket said:

So simple wallets are welcome by newcomers, people should not be worrying about losing their keys or passwords. Apps are also becoming a barrier for bitcoin adoption –  people get tired of using apps for just trying something. People don’t want to exhaust their data plan downloading an app or don’t have enough space in the phone.

For those reasons having a wallet in Telegram it makes sense; it’s a nice messaging platform with great features and with a growing number of users. People use messaging every day and having an embedded wallet there is very useful.

Because there are so many wallets, the team doesn’t believe it makes sense to create another one.

Sales added:

We believe that using a messaging platform such as Telegram allows us to reach to a market niche that was not served before. In the same way you can do a wine degustation before buying a bottle, with Octopocket you can degustate bitcoin before becoming a regular user.

Octopocket prices bitcoins in dollars and euros, and incorporates them as well.

“If people are worried about Bitcoin volatility, people can move their balance from their bitcoin pocket to their euro or dollar pocket.” Sales spent fifteen years working at Accenture Financial Services and  in banks around the world and also.

He stated:

We try to apply some best practices, double checking and monitoring. To say that a system is 100% safe is not realistic, but I can tell you that if there is a security breach we will know very soon and only a small part of the assets would be compromised.

Octopocket is focused to replace pocket money, not banks or safe bitcoin wallets. Octopocket limits the total amount of balance that a user can store in their pockets. So if the amount of money that a thief stole from a user is too low, what is the benefit of hacking the user messaging platform communication as it’s better to try somewhere else.

Users don’t need to copy and paste bitcoin addresses to send money.  Octopocket allows users to take a photo and its bot will decode the QR code.

Users can move their balance from bitcoin to other fiat currency in seconds with a simple message, so they are fully protected and even they can start to do trading with Octopocket with very competitive rates. Octopocket hedges the asset positions so customers funds are always guaranteed.

Featured image from Shutterstock.

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