Quarter of a billion dollars worth bitcoin transactions have been processed by the Canadian bitcoin wallet platform Coinkite during the third quarter of 2015. The worth of all bitcoin transactions globally for the same period is assessed to nearly 3,8 billion dollars.

Almost a third of the overall sum ($90 million) has been processed since the middle of June to the 15th of July, 2015.

The upsurge might have been connected to Coinkite’s launching of the new e-commerce Bitcoin Payment buttons which made it easier to accept bitcoin payments for goods and services both on the web and via the anonymous Tor network. The introduction of the Bitcoin Payment buttons became the highlights of the summer for Coinkite which sees itself as a top bitcoin wallet system and software provider.

Founded in 2013, Coinkite is now transacting over 260,000 BTC a month, providing multi-signature addresses especially useful for bitcoin crowdfunding campaigns. The bitcoin wallet platform is based on the multi-signature technology, additionally safeguarded by a hardware security module. Coinkite stores 85% of users’ funds in offline cold storage which makes them harder to steal.

Nevertheless, due to the fact that Coinkite users do not possess absolute control over their bitcoins (as all the bitcoins are stored in a centralized location controlled by its operators), Bitcoinmagazine rates Coinkite only as 2,5 out of 5 for security, claiming that technical incidents which may lead to the loss of the wallet's functionality are likely to occur. Still, according to the same edition, no customer funds have been lost so far.


Anastasia Ivanova