In the summer of 2017, Bitcoin.com launched its open source light client and since then more than 3.8 million wallets have been created. We’ve since added a load of new features to the wallet software and as of April 15, 2019, Bitcoin.com Wallet users in the UK and Europe can purchase bitcoin cash (BCH) directly inside the wallet.
Bitcoin.com strives to be the leading destination for all your bitcoin needs and our wallet is the perfect example. The open source Bitcoin.com Wallet is designed to be a secure application for sending, receiving, and storing digital assets. It features a simple interface for newcomers and veterans in the space. Our last version of the wallet gave users the ability to swap between BCH and BTC using the Sideshift platform. This week, the latest release of our light client has given U.K. and Europe-based users the ability to purchase BCH directly within the wallet thanks to our new Moonpay integration.
With the new buy service, Bitcoin.com Wallet users from Europe and the U.K. can quickly purchase the cryptocurrency using a credit or debit card. Small fractions of BCH (€150 worth) can be purchased without the need for formally validating your identity. If you want to purchase a larger amount of BCH up to €5,000 daily, and up to €20,000 monthly, verification will be required. One of the earliest angel investors within the cryptocurrency space and CEO of Bitcoin.com, Roger Ver, explained during the announcement that providing these types of resources helps bolster digital currency accessibility.
“We strive to bring economic freedom to everyone, everywhere, and we want to make it easy for everyone to buy bitcoin cash,” Ver stated. “With our latest wallet feature, it’s never been simpler.”
Because the Bitcoin.com Wallet is noncustodial, it provides a a more secure solution for acquiring crypto because there’s no need to deposit funds on a centralized exchange. After a purchase is made within the wallet interface the BCH is sent directly from the official seller to the owner’s noncustodial light client. This is in stark contrast to leaving funds on an exchange for a period of time to make a trade. Cryptocurrency exchanges are custodial, which means the exchange has full control of the user’s funds at all times.
Exchange breaches have been prevalent within the cryptocurrency industry for years and a few hacks have hit news headlines over the past few months. Canada’s largest exchange, Quadriga, lost $145 million recently and Bithumb saw over $19 million worth of cryptocurrency siphoned out of the trading platform. In response to these recent exchange hacks, Roger Ver stated:
“It’s a big eye-opener for many people. Buying from an exchange means using their custodial wallet and, even if it’s just temporarily while you purchase the coins, the cryptocurrency is still not as secure as it could be — the Bitcoin.com Wallet now lets users sidestep exchanges altogether, so your bitcoin cash is under your control from the moment you buy it.”
In addition to introducing the buy bitcoin cash feature to U.K. and Europe-based Bitcoin.com Wallet users, there are plans to roll the service out to more countries soon. To download the latest version and try the new Moonpay service, visit wallet.bitcoin.com today.
Have you tried the Bitcoin.com Wallet? Let us know about your experience with our noncustodial wallet in the comments section below.
Image credits: Shutterstock, Bitcoin.com, Roger Ver, and the Bitcoin.com Wallet.
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