Bitsy launches beta version of Cryptocurrency Wallet and Exchange

Medici Ventures said that its portfolio company Bitsy.com has started the limited beta launch of a digital wallet service. The digital wallet service creates a simple, secure, and convenient bridge between traditional fiat currencies and cryptocurrencies.

The announcement claims that "Unlike other wallet providers which do not let users actually hold their coins by using only derivative claims on coins owned by the provider, Bitsy users hold the actual real bitcoins and have complete control over their funds, including the ability to move or spend cryptocurrency. Biometric security insures against hacks and lost passwords. In the event a wallet is lost or destroyed, Bitsy’s key recovery system offers a unique and revolutionary way to recover funds."

Medici Ventures was launched in 2014. It is a wholly owned subsidiary of Overstock.com, Inc. The purpose of Medici Ventures is to leverage blockchain technology to solve real-world problems with transparent, efficient and secure solutions. The company’s majority-owned financial technology company, tZERO, executed the world’s first blockchain-based stock offering in December 2016.

Overstock.com, Inc. is an online retailer based in Salt Lake City, Utah, USA. It sells a broad range of products at low prices, including furniture, décor, rugs, bedding, and home improvement etc. Overstock.com accepted bitcoin since January 2014 and today accepts dozens of cryptocurrencies and plans to use the Bitsy service to offer bitcoin for sale on the Overstock website.


Chief Executive Officer and founder of Overstock.com, Patrick Byrne, said, “Bitsy sets a new standard for cryptocurrency wallets. It is a game-changer because it gives users the freedom that bitcoin has always promised. This new Bitsy wallet has an extraordinary advantage in convenience versus anything currently on the market. In addition to setting a new standard for cryptocurrency wallets, integrating with Bitsy will allow Overstock to take the next step in its cryptocurrency journey by allowing the company to offer bitcoin for sale directly from the retail website.”

Chief Executive Officer of Bitsy, Ann-Marie Hopkins, said, “At Bitsy, we want to make bitcoin so easy that anyone can use it. We are excited to have Medici Ventures and Overstock as partners in our efforts to broaden the adoption of cryptocurrency.”

Coming back to the launch of digital wallet service, the initial beta release will support bitcoin purchases. The newer coins aka cryptocurrencies will be added subsequently soon.

Would you use Bitsy’s innovative new wallet? Let us know in the comments below!