After becoming involved in the Bitcoin space in 2013, Paul Puey founded a unique and innovative wallet called Airbitz. Even at the time, the focus was on encrypting data by default, backing up the private keys and simplifying the user experience. But after deciding to enter multiple partnerships in order to seamlessly integrate various exchange services directly into the user interface, the wallet was rebranded as Edge.
“You would choose Edge as a way to buy bitcoin, and actually I think that’s its biggest value proposition,” said Puey. As opposed to the process of users purchasing coins from a centralized exchange and transferring them to their own wallets, Edge operates as a noncustodial exchange where it allows users to buy, sell and trade bitcoin.
As such, the wallet has established multiple partnerships with various bitcoin sellers and decentralized exchanges, allowing users to minimize their data exposure to third-party services. Most recently, Edge has started offering non-KYC bitcoin purchases in Europe through their Swiss collaborator Bity.
Key Management: Keeping It Simple
“The ease by which Edge does key management is a huge differentiator.”
Key management is one of the biggest concerns among bitcoin holders. Correspondingly, there is an entire industry that produces backup devices stored offline that are able to withstand physical hazards (such as Cryptosteel). Edge doesn’t try to compete with cold storage in terms of security — instead, it offers the kind of interface that users of traditional banking services will find familiar and grants the kind of encryption that mainly focuses on preventing individual errors.
A mobile app is still a hot wallet,