Coinbase released this last Tuesday their official iPhone app. The new app allows its user to send, receive, and purchase Bitcoins right from the palm of their hand. Coinbase offers an exchange, a Bitcoin wallet and can provide merchant services for Bitcoins as well. Coinbase has been dubbed the PayPal of Bitcoin, and has come to be a widely accepted alternative to the Bitcoin QT wallet and numerous accounts needed to trade and sell Bitcoins.
For a while, Bitcoin fans who sport an iOS device were not able to have the privilege of carrying around their digital wallet on their smartphone or tablet. Up until now the only devices that supported an official Bitcoin wallet application were Android powered devices, and BlackBerry devices.
While not an official Bitcoin wallet application, Coinbase’s alternative is a lot more diverse, in that it allows its users to cover all aspects of Bitcoin from their mobile device. The application works as a wallet, and as an exchange. The user can receive and send Bitcoins like the other wallets available, but due to that your Coinbase account is linked to your bank account, you can also buy and sell Bitcoins and have the funds dispensed directly into your bank account.
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There is an Android version available for some time now, and for both the Android and iOS versions, the main area for concern from Coinbase, and their users, is security. The idea of having an application that can take advantage of your bank account can seem slightly jarring. Coinbase has solved the issue by setting a password whenever the bank account comes into play. In addition to password protection, there is also the ability to disable the account remotely in case the phone is lost or stolen.
The introduction of the iOS app helps the currency come full circle with the majority of its users. With the blockchain app on Windows Phone 8 as well, it seems that support for Bitcoin has reached all relevant ecosystems.