BlockTrail B.V, the Amsterdam based bitcoin tools and API makers have launched a new bitcoin wallet. The wallet, which we will call as BlockTrail Wallet is a secure hosted wallet that lets its users have full control over their bitcoins. Unlike most of the wallet services, BlockTrail Wallet comes with multisignature and HD wallet capabilities activated by default.
BlockTrail Wallet is a multiplatform wallet currently available on iOS, Android and Web platforms. BlockTrail Wallet allows users to create their own private key and it doesn’t hold any bitcoin within itself. BlockTrail Wallet will be competing against the current leaders like Blockchain, Coinbase, Xapo and Circle who have so far managed to capture a huge chunk of the market.
BlockTrail Wallet users can make use of all the features expected of any bitcoin wallet, including sending, receiving, storing bitcoins, generating QR codes for their bitcoin wallet address and receiving bitcoins though them. The unique feature that makes BlockTrail Wallet more attractive over currently available options is the fact that users will always have control over bitcoins in their wallet as they will be creating and having access to their own private key. In an unlikely event of the wallet provider stopping its services or the company closing down its operations, users will be unaffected, as they will still have access to their bitcoin balance.
BlockTrail B.V was started in the year 2014 with the founder of VKontakte, Lev Leviev as one of the founder and investor. Lev Leviev has invested about $500,000 as seed fund into the company. BlockTrail was recently in the news for acquiring SendChat, a blockchain based IM application built on Telegram API which allowed users to send and receive digital currency over the chat application.
BlockTrail recently launched its controversial Mint platform that allows users to exchange their bitcoin with freshly minted bitcoin with no transaction history for a small charge. The service had given rise to a debate about its effect on bitcoin fungibility.
BlockTrail is gradually expanding its services to capture a larger chunk of bitcoin market and they have been successful so far. From what we know, we can expect the company to introduce more products from time to time.