Where Bitcoin wallets are concerned, there are almost too many options for people to keep track of. Surely if you already have Bitcoin or have traded it before, you have already tried at least one or two services, and you may have a personal preference.
But this is a crowded market that’s only growing more competitive with time. And as is often the case in tech, a lot of companies are offering a lot of the same features. What tends to matter most is which of these companies can provide the most appealing interface and generate the most attention.
In these regards, Singapore-based wallet exchange Luno is making strides. It was recently reported that Luno had closed a $9 million Series B round of funding in order to expand into 35 new countries in Europe.
Currently, the company has offices in Singapore, South Africa, and London, but that kind of funding round can indeed lead to this sort of massive expansion. And in this case, it means we may soon be hearing much more about Luno, even as Bitcoin happens to be fluttering near all-time highs.
In case you’re still relatively (or completely) unfamiliar with what exactly Bitcoin wallets are and how they operate, Luno is what’s referred to as a software wallet. As one overview succinctly put it, these are wallets that are available on several platforms, including desktops and various mobile operating systems.
In other words, software wallets operate electronically as programs, either on apps or as websites accessible via ordinary browsers. In the case of Luno specifically, users can access the service online or via the iOS and Android app stores. Generally, this sort of wallet is valued for convenience and ease of use.
As for what sets Luno apart, it’s basically a comprehensive Bitcoin management system. While there are more than 5000 cryptocurrencies being openly traded these days, and some wallets make an effort to facilitate activity related to several of them, Luno puts its focus squarely on the leading digital currency.
The service offers its own, up-to-date exchange (where you can buy and sell Bitcoin much like a stock, or more accurately a commodity), a storage system, and a transfer tool that allows you to pull money out or put money in.
Additionally, and somewhat unusually, Luno offers written content, presenting “everything you need to know about Bitcoin.” That, in particular, may make it an appealing option for beginners.
Also of note is that this service has nailed the idea of visual appeal and an intuitive interface. While software wallets are sometimes easier than the alternatives to understand, there are still some apps and desktop programs that, frankly, are needlessly complicated. Luno offers a clean design that’s easy to understand, and as pleasant to interact with as any you’ll find in the market.
None of this means that it’s going to be the best Bitcoin wallet on the market, or even one of the better ones. We don’t yet know how the company will handle expansion, or what security concerns might arise. But if you’re interested in Bitcoin you need to be aware of wallet options, and Luno is looking like it’s going to be a real player in the market.
