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Bitcoin.com Wallet App Marks Over Five Million Wallets Created

The Bitcoin.com Wallet has now achieved a major milestone with over 5 million wallets created since the app launched just a little over two years ago. An upcoming version of the digital wallet app will add SLP token support and additional features.

Also Read: Video: Bitcoin Cash Lets You Buy Equity Over the Counter at a Bar

Bitcoin.com Wallet Continues to Grow

Bitcoin.com today marks more than five million wallets created with the company’s official wallet app. The Bitcoin.com Wallet was launched back in August 2017 and quickly gained a large following. The fast growth in adoption has continued this year, despite the challenging market, as a million new wallets have been created since May when the app marked four million wallets created.

“This is a key milestone in our mission to provide customers with safe and secure crypto transaction services. Few would have predicted that we’d manage 5 million wallets created in little over two years, but our community has grown rapidly due to increased awareness of digital tokens and our wallet’s ever-expanding features,” stated Stefan Rust, CEO of Bitcoin.com. “In the years ahead, we are confident that millions more will open new wallets with us, many of them new to crypto who are choosing Bitcoin.com wallets to be their first crypto wallet.”

Bitcoin.com Wallet App Marks Over Five Million Wallets Created
wallet.Bitcoin.com

The wallet allows users to send, receive, and store bitcoin cash (BCH) and bitcoin core (BTC) in a noncustodial fashion. Users also have the ability to purchase both cryptocurrencies within the wallet directly with a credit or debit card so they don’t have to deal with depositing money on any exchanges. The popular app is available for mobile devices running both Apple iOS and Google Android operating systems, and there are also desktop versions for Mac, Windows and Linux if you need them. You can check out all the versions available at wallet.Bitcoin.com and create a new wallet for yourself.

Important New Features in Upcoming Versions

While the wallet is growing fast, the developers are not resting on their laurels and continue to design new features to add to make it even better. An upcoming version of the app will give the wallet a complete overhaul with built-in SLP token support as well as improved design and user experience to make spending and managing your digital funds even easier. Another feature they are working on is threshold spending, a function that lets you simply scan a payment QR code and if the amount requested is lower than your safety threshold it automatically signs and send the funds without the need for any additional input. The wallet developers are also working to release an API that will empower engineers and third parties to build more tools and services that integrate easier with the wallet and its users.

“Our entire team at Bitcoin.com is excited to cross the 5 million wallet mark. We’re proud to see people from all over the world using cryptocurrency in their daily lives,” commented Corbin Fraser, Group Product Manager, Mobile Services at Bitcoin.com. “Our wallet team have been hard at work on new features and are excited to release a complete overhaul to the Bitcoin.com Wallet with some amazing new features to help grow the cryptocurrency ecosystem and onboard the next 50 Million wallet users to peer to peer electronic cash.”

Bitcoin.com Wallet App Marks Over Five Million Wallets Created

If you are not familiar with the term, the Simple Ledger Protocol (SLP) is a token system for the Bitcoin Cash network allowing anyone to create tokens in a permissionless manner. It has helped the development of an ecosystem for BCH that replicates the variety of ERC-20 tokens on the ETH network. SLP tokens can easily be created, traded, and managed on the Bitcoin Cash blockchain within seconds, while costing the users only fractions of a penny for each transaction. Using the SLP explorer Simpleledger.info shows that 5,760 tokens have already been created and more than 4,590 SLP-based token burns took place since the project started.

What do you think about the Bitcoin.com Wallet app achieving more than five million wallets created? Share your thoughts in the comments section below.


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Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

Avi Mizrahi

Avi Mizrahi is an economist and entrepreneur who has been covering Bitcoin as a journalist since 2013. He has spoken about the promise of cryptocurrency and blockchain technology at numerous financial conferences around the world, from London to Hong-Kong.

Avi Mizrahi , 2019-11-14 10:00:06 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.


While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock


Nick Chong , 2019-11-10 12:00:38

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