Digital asset custody company, Bakkt announced the launch of their crypto app and Bakkt Bitcoin earlier this year. Now, company said that the app is ready for testing and in an email sent on November 11th, they said they were ready to launch the app. The information in the email highlighted that the company had asked the users to provide them with valuable feedback regarding the functionality of the app, once they begin to use it. The Bakkt team informed its users that they will be given access to the Bakkt App, which would make them the early adopters of the much-awaited app.
To put it simply, the Bakkt app is a digital wallet that can be used by people for spending, sending and tracking their digital assets. Users have been promised $10 by the developers, if they sign up on the list for getting early access. However, it should be noted that one user can only create a single account and the first 50,000 customers will be provided the bonus of $10. However, the app is currently not available to the company’s users in New York of Hawaii. According to the Bakkt app development team, they would also introduced several other features in the app in the next couple of weeks.
However, the already available features can by enjoyed by the early access users, such as aggregation of rewards and participation accounts, Bitcoin (BTC) trading, along with deposits and withdrawals, which includes a reward of $20 when they link a bank account. The other features that are expected to be integrated include instant USD cash deposits, aggregation and purchase of supported gift cards and the Bakkt Cash experience with the Starbucks mobile app. Before this schedule, the Bakkt app had been scheduled for a launch sometime during the summer.
However, its launch was delayed due to the global coronavirus pandemic, just like a number of other things that had been scheduled in the industry. Nevertheless, users will not have a problem with the app being delayed, especially the early users who had already signed up in order to start enjoying app. This Bakkt mobile app launch announcement comes only 24 hours after PayPal finally took a major step in the crypto industry by granting users in the U.S. the chance to buy Bitcoin and other cryptocurrencies through their account with the payment processing giant.
With the launch of the Bakkt mobile app, now both companies will be able to provide investors and traders with the opportunity to invest in Bitcoin and other digital currencies. It is one of the most important news for the crypto community as a whole, as they have been hoping for widespread crypto adoption as quick as possible. Moreover, there are only a few companies that have the ability of ensuring widespread crypto adoption like PayPal. This move by Bakkt has also been regarded as the right move where the crypto industry is concerned and could certainly be beneficial in the long run.