Custodial Lightning Network-enabled bitcoin wallet, Walleto has been launched in a bid to expand the reach of usability to help bring bitcoin into the hands and devices of more customers, increasing accessibility and portability.
Walleto was built by Peach, the bitcoin payments engineering division of Bitfury Group, and is now available on iOS and Android.
Customers signing up will be able to open their free wallet from the App Store or Google Play, and immediately begin to benefit from Walleto’s fast, inexpensive and efficient bitcoin transactions.
Unlike current bureaucratic payment systems, bitcoin can be transacted at any time from anywhere in the world, bringing new financial flexibility and freedom to users. However, the associated costs and transaction times of using bitcoin are often unpredictable and needing to remember private keys often dissuades users. Walleto seeks to solve these issues through its easy-to-use interface, low fees, and custodial design.
Commenting on the partnership, CEO of Walleto Limited, Sulim Malook, stated: “We continuously monitor developments in bitcoin and the Lightning Network because the thinking behind it is ideal for the micropayments associated with lottery.
“We could not be more pleased with the Peach wallet that has been customized for us by the Bitfury team. Their experience in software development and reputation in cryptocurrency precedes them.”
He continued: “Making deposits and withdrawals with fiat currency is time-consuming and costly. Walleto will provide the quickest transactions in crypto with costs lower than any other lottery operator worldwide, helping our players play and collect their winnings without delay.”
Walleto Limited has also partnered with Ledger, the makers of popular hardware wallets. Commenting on the decision, Malook added: “Walleto is ideal for transactions. For newcomers, it makes sense to store excess bitcoin offline. When we needed a solution, we looked no further than the market leader.
Chris Dickson, head of blockchain solutions for Bitfury, concluded: “Walleto is a user-friendly and fully customizable wallet for businesses who want to offer custodial bitcoin wallets as part of their services.
“We look forward to seeing the advancement of bitcoin payments through the efforts of Walleto, Earn Bitcoin and Crypto Millions Lotto.”