Wallet

Former Amazon Exec Unveils ‘User-Friendly Bitcoin Wallet’ iPayYou

A new wallet has come to the Bitcoin environment today — called iPayYou (iPayYou.io) — the service says it is the world’s “easiest, safest, and most useful wallet.” It’s currently available via the web only, but Android and iOS applications are scheduled to launch in the next few months. The team believes the new platform will have a few features that should entice its user base.  

Also read: Central Banks’ Fedspeak ‘Reflects’ Bitcoin Disruption Fears

iPayYou Wallet Launches for Everyday Consumers 

walletiPayYou says the wallet service they provide is so simple to use that you can send bitcoin to anyone — even someone who has never even heard of the cryptocurrency. The company says it promises to make it easy for them to understand and get into Bitcoin.

One frictionless method of sending the digital currency to people is by email without the need for a wallet address. As well as an uncomplicated interface, the wallet will soon be adding a “Lock Price” feature for those who want the dollar amount to stay the same when sending bitcoin. Soon the company says it will offer cash-back rewards, and discounted gift cards as well. While in New York at the 2106 Consensus Conference, the founder of iPayYou, Gene Kavner, told Bitcoin.com :

I believe that we are doing something revolutionary with iPayYou, the world’s easiest, safest and most user-friendly Bitcoin Wallet.  It is the first wallet whose primary goal is to expand the ecosystem of Bitcoin users – from those who are generally highly technical, young, and male to a wider group of everyday consumers who will use it for their normal financial activities, such as paying friends, making purchases, gifting or investing in Bitcoin.

Kavner tells us not only is it a secure storage option, but the wallet also allows users to buy and sell bitcoin through its secure framework. The service enables customers to cancel transactions as well, a feature most crypto-wallets don’t have. This feature can be very useful to those who are not well acquainted with the

The service enables customers to cancel transactions as well, a feature most crypto-wallets don’t have. This feature can be very useful to those who are not well acquainted with the cryptocurrency and can fix costly sending mistakes. Private keys are encrypted on the company’s server, and the platform has security based on 2048 bit certificates. The iPayYou website states, “no one can decipher the keys, even our employees.”  

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The founder and CEO of iPayYou is a former Amazon executive and has worked with other prominent businesses such as Microsoft and Expedia. Kavner is a huge fan of Bitcoin and wanted to create a wallet that the mainstream could relate to when interacting with the cryptocurrency. He believes the iPayYou project is one of a kind and will enable services that most wallets don’t offer while being a low-cost Bitcoin wallet that’s aimed at the average person. Kavner adds:

Besides having some of the lowest fees anywhere to purchase and sell bitcoin, iPayYou features a number of other consumer-friendly unique features. iPayYou changes the way people send bitcoin by prioritizing sending payments by email. When bitcoin is sent by email, recipients’ accounts get automatically created by iPayYou, eliminating the need for recipients to pre-create accounts and figure out what their bitcoin address is. iPayYou allows senders to cancel payments made by email if sent to the wrong email address. Many new and exciting features are on their way, as well as the iOS and Android applications.

The team decided to launch their new service during the three-day Consensus event held in New York where many executives, developers, and innovators have gathered. Nevertheless, its “never-before-seen features” are aimed at everyday people. “We believe iPayYou is the first Bitcoin wallet for the rest of us – making Bitcoin simple for average consumers,”  Kavner says.  

What do you think about the iPayYou Wallet? Let us know in the comments below!


Images courtesy of the iPayYou website.

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Jamie Redman is a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Redman has written hundreds of articles about the disruptive protocols emerging today.