Bitcoin and Mobile Apps: Hidden Value in Plain Sight

Bitcoin and Mobile Apps: Hidden Value in Plain Sight

Digital currency is a topic of continuous debate and the fluctuations of Bitcoin’s value has been all over the place, ranging from a high of over $1,000 and an average low of about $200. As the worlds first digital, decentralized currency, owners of Bitcoin are pseudo-anonymously tied to their wealth with no government taxation or linked social security identification. This has lead to many legal battles with governments trying to identify the stance to be taken on Bitcoin. Some countries of the world favor in trying to regulate Bitcoin, but some try not to consider it legal tender. Other countries, like Australia, are trying to tax Bitcoin users. Regardless of the governments stance on Bitcoin, it is clear that more and more people are getting involved in the crypto-currency world.

Bitcoin Wallet Apps Begin Filling the App Store

Bitcoin Wallet Apps Begin Filling the App Store

For those that may have missed it, earlier this month we reported on Apple\'s updated App Store review guidelines which hinted at the possibility of Bitcoin wallet apps being allowed for iOS devices. Back at the time there was some skepticism met with positivity in hopes that Apple finally came to their senses. Well after waiting a couple weeks it\'s finally official, Bitcoin wallet apps are now filling the App Store plus more are sure to come later down the road. The first of these wallet apps was Coin Pocket , a fairly simple and easy to use app based off the HTML 5 website. From there we saw an unofficial Coinbase app that was also met some skeptical reactions due to the fact that it was from a third party and not Coinbase directly. Hopefully sometime here soon we\'ll see the official Blockchain wallet app which was removed from the App Store earlier this year and caused a huge uproar from the Bitcoin community. While this may be a great start, users need to be aware of some security risks they are running by using a mobile wallet. With that being said, right now a good example of that is an unaffiliated Bitpay app that recently leaked onto the App Store and could be a phishing scam. Moving forward, Gyft (a digital gift card provider) has re-added the ability to pay with Bitcoin back into their iOS app. Previously this feature was available up until Apple began doing an anti-Bitcoin sweep of the App Store, so it\'s nice to see the developers have updated their app. Someday here in the near future it would be nice to actually purchase Bitcoin through an in-app purchase, however, it\'s hard to say if that day will ever come due to charge backs and the 30% cut Apple takes. In the coming weeks and months we should see more wallet apps hit the App Store, so like always we\'ll keep you updated.