Telebit Launches Bitcoin App for Android

August 18, 2015         By: Michael Cheng

Telebit users now have access to a range of supporting payment services through the bitcoin wallet’s new Android app. The mobile platform also offers integration with Trezor, a leading digital currency safe.

“The app we just launched is optional but has a much nicer user interface and more features such as Trezor hardware wallet integration,” said co-founder Jonathan James Harrison.

The company currently boasts a customer base of over 9,000 active users. An average of 600 customers are engaged with the app during any two-week period.

To initiate a transaction, individuals can generate a QR request from the menu. When making payments, users have the option to scan a code link using a built-in smartphone camera.

There is also a detailed history section for past transitions and billings. For price monitoring, the mobile platform lets individuals set alarms. When bitcoin hits the target value (against the currency of your choice), a notification will appear on the screen.

“If Whatsapp could send bitcoin around as easily as it sends messages, the world would very quickly adopt bitcoin as a global currency. Unfortunately, Whatsapp is not open source, so we can’t build a bitcoin wallet service for it. However, Telegram is (open source), and that’s why we built this wallet that runs on the Telegram network,” explained Harrison.

Earlier this year, Telebit announced a partnership with Telegram, a premier messaging service with 50 million users. The collaboration has allowed individuals on the platform to use bitcoin for personal payments. Transactions can be made in real-time during a conversation.

Telebit’s system, which stores bitcoins in the cloud, is designed for small, short-term transfers. The company does not charge transaction fees for off-chain transactions. Trezor, the bitcoin wallet’s sponsor, absorbs the miner fees (limited to registered Telebit users).