Various platforms are available all over the world to conveniently buy and sell bitcoins. However, most of these platforms are responsible for holding onto customer funds, either in fiat currency or Bitcoin. Bridge21 wants to offer something completely different in this regard, as they put the end user in full control of their digital currency. By offering a service that is compatible with existing wallets., an interesting ecosystem is created.
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Bridge21 Makes Exchanging Bitcoin Different
Companies such as Bridge21 attract a lot of attention from investors and other people active in the technology world. Bitcoin is a very difficult concept to grasp for most people and any service that makes the transition from fiat to digital currency more convenient is worth keeping an eye on.
Even though the company still hasn’t launched their beta testing phase just yet – which will only be available to US customers, unfortunately – Techstars has taken an interest in Bridge21. So much even that they invited the startup to join their 2016 Spring Class, giving the company a chance to meet other entrepreneurs and avoid some of the pitfalls other Bitcoin startups have made in the past.
The main goal of Bridge21 is giving users full control of their money at any given time, similar to what Bitcoin was designed to stimulate. But for some reason, a lot of Bitcoin users give up their financial control without giving it a second thought, as they rely on third party service providers acting as custodians and holding their funds.
That being said, Bridge21 will act as an exchange API between traditional cash and digital currency, and do so in a frictionless manner. Rather than taking control over user funds, the Bitcoin startup integrates seamlessly with existing wallet solutions and affiliate partners, creating a global ecosystem to make buying and selling of digital currency as trustless as possible.
If everything is integrated according to plan, users should be able to buy and sell Bitcoin through their own wallet. This removes the need for a third party to manage customer funds at either end, which results in full financial control for the end user. However, only a successful beta testing will tell whether or not this scenario can become a reality or not.
The Techstars 2016 Boulder class is a combination of various startups active in different industries. Bridge21 is the only company revolving around Bitcoin and digital currency, making them stand out by quite a margin. But these companies all have one thing in common as well: innovation is key.
Source: Techstars
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