The worlds first bitcoin bank has opened to the general public. The ewallet has been called one of the best services to the bitcoin community as it solves virtually all of the problems that hindered bitcoins from becoming more mainstream in commerce.
It’s a game changer in the bitcoin community.
It allows people to access their coins anywhere, hence now it’s not limited to the machine you installed the physical client on, as it can be accessed by your smartphone (turning your phone into your debit card).
The biggest story however is the land rush. Many view that flexcoin id’s are helpful for future e-commerce with bitcoins. So people are grabbing the best ID’s possible, and the demand has been high for a free flexcoin id.
Before flexcoin people had to send bitcoins to addresses like “17KxFiNCwDXdxDxUMhWb7RLj7REnSJ1M8P” after flexcoin an id such as “coffeeshop” would do the transfer. This simplifies commerce greatly, it allow is an instant transfer as compared to the traditional “next block wait” which could be between 10 minutes and 3 days depending if it was a small transaction with no miner fee.
Another advantage is that flexcoin pays discounts to account holders. This allows many to use it as a saving account for bitcoins.
Flexcoin solves the micro-payment problem. Since the 1990′s people wanted to be able to accept micro payments, but the credit card fees were way to high (it would cost 30 cents to accept 10 cents). Flexcoin solves that problem as flexcoin to flexcoin transfers are free (as well as instant) allowing for a newspaper to charge something tiny for an article, and be paid instantly and profitability.
Back to the id’s however. The demand is so high that it’s similar to a domain registration circa 1995. A flood of users have been looking for generic terms such as “coffeeshop” if their coffeshop wishes to accept bitcoins.
The company has been aware of the recent news regarding bitcoins and security, they spent large amounts of time and money on security. Though no service on earth is 100% safe, their service has been audited by professionals and hackers alike and has been given a clean bill of health and security. Another factor in trust since flexcoin is backed by Yooter InterActive Marketing a company that has fortune 500 firms as clients and has been in business for a decade, it allows for a level of trust not seen in the bitcoin community since it’s inception.
Regardless the site has allowed for registrations for the general public. Many are rushing to get the valuable flexcoin ID’s now.
The company stresses that it is not a true financial bank as legally defined, but it is a bitcoin bank as only bitcoins are accepted.
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