Bitcoin is a novel and innovative platform for making digital money transactions over the internet, and it’s cleverly designed to be remarkably secure. Nevertheless, its procedures are still not easy to grasp for the average person, thus restraining its use to a very specific niche of users.
Many companies have attempted to close such gap by providing simple and intuitive cloud-based wallet services. As a result, they’ve successfully managed to put Bitcoin at the reach of the average non tech-savvy user; but they’ve also opened a significant breach in matter of security: online services are responsible for managing your private keys. That is, anyone who gains access to the server’s database might be able to spend your bitcoins.