BTC Exchange Safello Brings Bitcoin Wallet Services, Promises for Complete Security

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BTC Exchange Safello Brings Bitcoin Wallet Services, Promises for Complete Security

The Stockholm based Bitcoin exchange, Safello, has launched its safe and secure Bitcoin wallet for customers. It says that so far Bitcoin software isn’t known for being easy to use; however, it wants to change that. According to the organization people who have Safello wallets don’t need to keep track of one another’s addresses; they just need to search for their friend’s name, enter a Bitcoin amount and hit send.

Nonetheless, Safello claims that it’s so easy that even ordinary moms could use it and aimed at those novice users who struggle with grasping the concept of signing up for an exchange yet needing a separate piece of software to store their Bitcoin. The BTC wallet is also a part of Safello’s strategy to reach to wide users across the European Union.

Regarding verification and security, Safello promises that verified accounts make sure customers’ money gets into the right hands. According to the firm scams and impersonations are common in the Bitcoin world; therefore, when sending money through Safello to an organization or a public figure, make sure the customers look for the verified-symbol.

This according to the Bitcoin exchange guarantees the right ownership of the account. Nonetheless, the Safello Bitcoin wallet will let the users send Bitcoin to a specific alias instead of having to copy their entire Bitcoin wallet address. Similarly, if some user wants to check Bitcoin transaction history, it has been made possible.

Bitcoin Wallet with Comprehensive Security Features

Announcing the Bitcoin wallet the organization says that it presents users with an informative infographic, detailing the entire transaction history from the date a specific address was generated up until right now. Also, as all of this information is available on Blockchain.info, the users will be able to access with ease.

Informing the users, Safello says that once they have completed all of the steps to set up their Safello Wallet, they will notice every wallet is able to generate a public wallet and a private wallet. Nonetheless, this system according to the market observers can be compared to having a Bitcoin wallet for hot storage and one for cold storage.

Whereas the private Safello Wallet address is not visible to other users of this service, and can be used to store your Bitcoin safely, the public wallet is public and visible to all other users when they send you money.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com