The Bitcoin wallet space just got another heavyweight contender. The one who intends to spar with the likes of Blockchain and Coinbase while keeping an eye out on those like Xapo and Circle who are in a slightly lower weight class than the former.
The Amsterdam based BlockTrail has recently launched its new multiplatform, multisignature secure bitcoin wallet. The BlockTrail wallet is available for Android, iOS and web users at the moment. According to the company, BlockTrail’s wallet is more secure than most of the existing alternatives as it comes implemented with multisignature and HD wallet features by default.
BlockTrail has been offering Bitcoin API and Blockchain analysis tools since last year. The company is backed by its co-founder Lev Leviev, who also happens to the founder of VKontakte. Lev has invested $500,000 as seed funds in BlockTrail.
Unlike many other online wallet services, BlockTrail’s wallet allows its users to have complete control over their wallet and bitcoin balance. BlockTrail users can create and store their own private keys. Also, the possibility of wallet service provider freezing the user account can be eliminated with BlockTrail wallet.
According to Boaz Bechar, as stated in TechCrunch – BlockTrail wallet users continue to have control over their bitcoin and it is virtually impossible to block, freeze or hack the account. The CTO of BlockTrail, Ruben De Vries fills in by making it clear that certain actions can’t be executed immediately on BlockTrail;s wallet as it is a decentralized wallet and won’t be holding the bitcoins within itself.
An average bitcoin wallet user might find BlockTrail wallet to be a bit slower or unresponsive and prefer to go with other bitcoin wallets. But the core bitcoin community will have a different outlook towards it. BlockTrail intends to offer it first to the core bitcoin community followed by casual bitcoin users.