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Worried about transparency, security, and privacy of crypto coins? Try Bitamp!

Rakshitha Narasimhan

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Worried about transparency, security, and privacy of crypto coins? Try Bitamp!
Source: BItamp

Financial privacy is a priority at the moment. Given how the central banks keep track of each and every transaction at the moment, more and more people are considering decentralized currency at the moment. However, if you are using cryptocurrencies like Bitcoin, Ethereum and others, you also need to have the correct medium to store it. Enter Bitamp.

Bitamp is an open-source, client-side, free Bitcoin wallet that allows you to send and receive Bitcoin instantly on the blockchain and all this while remaining in complete control of your seed and private keys.

When the user logs in, sends, or receives Bitcoins using Bitamp, everything happens locally in your browser. The users’ seed and private keys are never transmitted, received, or stored. No personal information is required to use their service.

Here are some of the features that stand out in Bitamp

  1. Anonymous
    Anonymity/privacy is Bitamp’s top priority as mentioned earlier. The private key, IP address, browser details, literally nothing is secretly stored, unlike many other platforms. Neither does Bitmap ask for users’ email addresses or personal information while letting them use the service. Additionally, a user can access his/her account from home, VPN or TOR.
  2. Instant transaction
    With Bitamp, you can directly connect to the Bitcoin blockchain in your browser. Transactions are sent instantly at one command. Transactions might typically take up to 10 minutes.
  3. Worldwide transactions
    Unlike fiat currency, Bitcoin doesn’t have borders. You can send and receive BTC from anywhere on the planet without any restrictions. Furthermore, they cost you less, and it is still a wonder why not many are not taking to Bitcoin transactions. 
  4. Everything’s under your control
    Although there are so many advantages, there’s one glitch here. If you lose your private keys, you might not get it back as it is not stored anywhere. In fact, a recent survey in Sweden had revealed that many Bitcoiners store their coins in cold storage and write down their private keys on a piece of paper. So, a piece of advice while using wallets would be to remember the pin and keep it out of reach to everyone but you.

Bitamp also takes care of its customers really well. This customer service protocol might give rise to a few concerns as many consumer-facing apps collect user information. However, you do not have to worry about that with Bitamp. Although the company is open source, the team seeks to provide basic support to users who may face challenges in accessing the product, there is no user-information collected or stored. Given how many centralized exchanges are vulnerable to hacks, if you are a beginner and are looking to start with wallets, Bitamp is the place to be.

Unlike some wallets, Bitamp can be accessed on any device. Bitamp wallet makes sure that its users are in complete control of their funds, private keys, and even privacy. 

Thus, transparency, security, and privacy can be considered as the three pillars of Bitamp. Interestingly, Bitamp allows users to create any numbers of wallets they want and gives them ample flexibility when it comes to handling their bitcoins by allowing them to load seeds from other blockchain wallets like Trezor, Ledger, Mycelium, Exodus, Electrum, and more to instantly access your Bitcoin balance. On the other hand, Bitamp can also be used for educational purposes. You can learn about buying, spending, mining, and trading Bitcoin.

More about Bitamp

Although recently launched, Bitamp is available in English and will soon add 11 more languages including German, Russian, Spanish, French, Portuguese, Korean, Japanese, etc with a plan to cater to a wider audience. The platform is also very user friendly as they address all the concerns raised by users with special interest. 

Conclusion

Crypto-custody is a very controversial topic at the moment. Beginners as well as established traders in the market have to very careful while storing their coins. Many switched from hot storage to cold storage fearing the online thefts. While Binance CZ and many other notable crypto traders prefer cryptocurrency exchanges to store their wallets, many other choose to retain it by themselves, and wallets like Bitamp comes as a helping hand to those who prefer to store Bitcoins on their own.

Disclaimer: This a paid post, and should not be treated as news/advice.

A Psychology and Journalism graduate, Rakshitha focuses on UK and Indian markets. As a crypto-journalist, her interests lie in blockchain technology adoption across emerging economies.