Bitcoin iPhone 5s

Apple can’t make up its mind. Just months ago, it pulled all Bitcoin wallet apps from the App Store after enacting a policy against all apps using the virtual currency. Now, it has reversed that decision and is allowing apps based the virtual currency back into the App Store. As reported by The Next Web, at least one app has already made its return to the storefront. Take a look…

Coin Pocket Screenshots

Coin Pocket is the first standalone Bitcoin app to reappear on the App Store. The basic Bitcoin wallet app is fairly basic, but it allows users to send and receive Bitcoin from iOS devices. Its other feature including the ability to check prices, a built-in QR code scanner, collect and encrypt private keys, multiple sources for BTC to USD conversion and more. The app is free for iPhone and iPad.

It appears that Apple is also allowing apps to make use of Bitcoin for in-app payments, bypassing the 30% cut that the company normally collects on in-app purchases. The gift card app eGifter lets you purchase gift cards using Bitcoin, which essentially creates the possibility to use Bitcoin as a payment method while shopping on your iOS device for brands like Walmart and more.

We will likely see a wave of new and returning Bitcoin apps on the App Store in the days and weeks ahead. Blockchain was one of the most popular offerings before Apple removed the app, with over 120,000 downloads and thousands of transactions. For those unfamiliar, Bitcoin is a decentralized, virtual currency that is open source and based on a peer-to-peer payment system.

Are you glad that Apple relaxed its Bitcoin policy on the App Store?

  • Framboogle

    Am I the only one that doesn’t understand what’s so great about bitcoin?

    • nonchalont

      Neither do I. Appears someone trying to start a new currency.

      • Sachin

        It’s internet currency and that’s all I know.

    • McBobson

      -No need for banks, bitcoins are traded by people and companies. – No huge bank fees. -It’s more private. -It uses strong cryptography, it’s very secure.

  • Mitch Frink

    Framboogle, lets say you’re in japan, and i’m in the US and I need to send you 4 million dollars. I would send you 8,000 Bitcoin (give or take) and it wouldn’t cost me more than a dollar. How much would that cost bank to bank?

    • Bob

      Then how would you convert Bitcoin to real cash? That is the question.

      • ✪ aidan harris ✪

        Through an exchange. Exchanges allow you to link a bank account (securely of course) to buy and sell bitcoins. You can also sell person to person which is of course not recommended for obvious reasons but still many sites exist for this purpose.

      • Dan

        It’s similar to stocks. I have a friend that put 6000$ in bitcoins a while back, and it’s climbing in value everyday. If he sells now his 6000$ is worth 10,000$. The problem is, you have to put it up for sale and someone has to buy it. But apparently if you don’t price too high it’s easy.

        *edit: just noticed other people explained it as well

    • Framboogle

      Okay, besides large transactions, what else is it good for?

      • ✪ aidan harris ✪

        Anonymity. It is security through obscurity since everyone can see where the money is going but noone knows who owns what bitcoin address (think of a bitcoin address like a bank account number) so you can see where money is going but nobody knows who owns the money. It’s also just a few clicks in a program to get a new bitcoin address…

      • 空白

        Buying stuff they don’t sell in stores anonymously.

  • Marcus

    I don’t know why you would have someone else manage your Bitcoin. I would never get an iPhone app to manage my Bitcoin. I’ll stick with Bitcoin-qt like I have been for a while. It’s the most secure and safest way to manage your BTC and wallet.