Bitcoin adoption and awareness has been on the rise over the past few years, and as a result we see more and more mobile applications being developed which focus on the using and storing digital currencies. The “killer” application has not come across our radar yet, but several companies are coming up with interesting mobile solutions for Bitcoin. LazyPay, a mobile application developed by the LazyCoins team, looks to stand out from all the other apps, so let’s see what they have in store for us.
What is LazyPay?
As I mentioned before, the LazyCoins team has developed their very own mobile Bitcoin application called LazyPay. Comparable to other similar offerings out there, LazyPay will allow users to safely store their Bitcoin in a mobile wallet, which can also be used to buy goods and services from online stores thanks to the integrated smart merchant services.
If you were one of the people attending Bitcoin Expo 2015, you may have run into the LazyCoins team, as they were there on Sunday to give their startup presentation. Danial Daychopan, CEO of LazyCoins, also held a conference speech where he touched upon many interesting subjects, and more precisely, the importance of storage security of a bitcoin mobile application.
And that is where LazyPay starts to shine already, as all users’ bitcoins are stored in cold storage (offline), providing a great layer of protection for their users. But that was only just the beginning of all the goodies implemented in the LazyPay mobile Bitcoin application, as several additional security layers are part of the application as well.
One of the emerging trends in Bitcoin security is multi-signature security. LazyPay integrates multi-signature keys, as well as fingerprint account access to strengthen the application’s security even more. When it comes to finances, you can never be secure enough , and that is why the LazyCoins/LazyPay team has come up with yet another layer of protection.
All Lazypay withdrawals are executed on a manual basis, and will be sent out in clusters (or batches) at regular time intervals. Even though users might experience minor delays (such as a few hours) in order to receive their transaction, this inconvenience is far outweighed by the benefits offered by LazyPay when it comes to fees and transactions.
And that might be the best part of all if you are not much into account security. LazyPay operates on 0% fees for transactions, and users can easily exchange their Bitcoins and other virtual currencies to FIAT bank wire transfer. To make it even better, users can request these FIAT bank wire transfers directly from the LazyPay mobile application.
Will LazyPay Be The “Killer Bitcoin App”?
Based on the information we have received from the LazyCoins team, the LazyPay mobile application has been tweaked and fine-tuned over the past few months. All of this was done even before there were any plans to make the app available to the public. Similar to the LazyCoins exchange platform, which has been in beta since July of 2014, the team behind the mobile application is taking their time to deliver a fully working product to the public.
The Lazypay application was designed to render bitcoin a part of everyone’s life through:
Boosting the number of users as individuals and merchants.
Tempting more people to start using cryptocurrencies as a payment method.
Up- leveling security of the application to protect users’ coins.
LazyPay is aimed to make digital currency more simple and more secure for both consumers and merchants alike. The plan is to ultimately allow the buying and selling of Bitcoin not only as easy as traditional payments, but even easier and far more secure. Last but not least, LazyPay wants to make digital currency payments convenient for all parties involved, which is something several “competitor apps” lack at this point in time.
I was one of very few people to actually see the LazyPay application demo video in action, and I have to say, it looks incredibly user-friendly and far less “boring” compared to other mobile Bitcoin applications. Add the multiple layers of security to that, and the LazyCoins team has developed a major contender to the (one of) the “Killer Bitcoin App”(s).
Website : https://lazycoins.com/lazypay