Bitski Bitcoin Wallet Secures Nearly $2 Million from Coinbase, Winklevoss Capital and Galaxy Digital
The startup Bitski is helping developers introduce crypto wallets in their apps and has announced is being backed by Winklevoss Capital, Galaxy Digital and Coinbase Ventures.
Bitski has a developer platform that helps those interested in the crypto sector set up their wallet. Let’s say you have a crypto wallet pre-loaded into one of the games you’re playing online. With Bitski, you can go mainstream by just signing in into their wallet.
$1.81 Million for People Building on Blockchain
Donnie Dinch, the CEO and co-founder of Bitski, said the firm is going to use the $1.81 million capital it received in order to help people building on blockchain expand. He added the startup already received $3.54 million from a fundraiser and a pre-seed round that happened back in 2018.
Bitski Focuses on the Gaming Industry
Bitski made the announcement that its product is already being used by two game development studios, the YouNow platform for live-streaming and a sports betting website powered by Ethereum. Dinch said that there are many interesting projects for the core crypto consumers, but that they’re focusing on what’s mainstream for now, having mainly gaming in mind.
Winklevoss Capital’s Sterling Witzke Expressed His Support for Bitski. Sterling Witzke, Bitski’s partner from Winklevoss Capital said:
“We’re excited for Bitski to help catalyze the next wave of companies integrating blockchain into their products.”
Dinch explained the wallet’s UX is simple and offers the option of tradeoff self-custody, also that most users will probably prefer to have a third party handle the management for them. He added that the technology used to store the wallets functions with hardware security modules (HSMs) from data centers that are “biometrically-secured”.
Mainstream Interaction with Blockchains Made Simple
Robert Leshner, whose participation at the Bitski seed was through the Robot Ventures fund and who’s a compound protocol founder, said the startup can drastically improve new crypto users’ experience. He added that public-key cryptography is what’s behind the developing application ecosystem, but that the mainstream user has a problem experiencing it. In an email sent to Coindesk, he said,
“Bitski is a necessary experiment to (re)imagine how we interact with blockchains. They remove the friction and difficulty of wallet management, while preserving security and increasing portability.”
Who Is Behind Bitski?
Bitski is based in San Francisco and run by 4 people, 3 of them being the WillCall ticketing app co-founders. WillCall was acquired by Ticketfly in 2014.