Bitcoin is a revolution in the concept of currency; issued by no central bank, operating as a decentralized peer to peer network with more than a hundred thousand indepndent nodes, in at least ninety countries it has been likened to "an API for money". Yet profiting from this revolutionary technology requires a company which understands the risks, not just the potential of this novel system.
For some companies,a full understanding of the reality of irreversible transactions doesn't occur until networks have been compromised and funds have already been lost. We have engineered out solutions from the ground up to address the unique securities challenges that Bitcoin creates. It is possible to build scalable, secure systems.
Traditional Bitcoin exchanges focus heavily on their core demographic, traders and the processes for depositing and withdrawing funds are often time consuming, expensive, and overly complex. This leaves consumers looking for conversions between real and virtual currencies as a underserved market. We aim to change that by streamlining the process and making it transparent and most importantly fast.
Rather than focus on the trader, we took a look at how the process of buying or selling Bitcoins can be improved for a consumer just looking to make a final conversion and receive their funds. The process is straight forward, fast and transparent. Users know what to expect up front and this improves customers satisfaction. We also made it secure by removing the Bitcoin wallet from the conversion process. Most exchanges operate also as an eWallet and that leaves funds exposed to loss from hackers or employees. With BitSimple users remain in control of their funds up to the point of the conversion and then immediately receive their converted funds. Currency Exchange services are handled by North American Cryptographics a wholly owned subsidiary and registered MSB (FinCEN #).