Coinkite is a bitcoin company with a focus on security mixed with ease-of-use. They have an intense passion for multi-signature wallet technology, along with API services for developers, enterprises and users to integrate into their businesses or applications.
But what can truly be done with Coinkite’s API? Seeing as the company is known for their secure wallet services, they’ve turned their vault into one of those.
As stated in their API documentation,
Coinkite is a cryptobank which can serve all your needs for holding and managing cryptocurrencies, such as Bitcoin, Litecoin or Blackcoin.
Developers utilizing the Coinkite API can control their funds from another system or build their own point-of-sale terminals or cryptocurrency ATMs. Their API takes the difficult development obstacle out of the way for people with lucrative business ideas, but little development background especially in cryptocurrency.
Along with that potential, users can check balances of sub-accounts, create new public keys, detect when payments have been made and send funds by utilizing the API. Users are also able to create vouchers holding a balance to give to others who might be interested in experiencing cryptocurrency for the first time.
With our API, it’s easy to send funds (bitcoin, litecoin or blackcoin) to any public key address or P2SH address, or create a handy ‘voucher’ which can be redeemed after being sent out via email, SMS text message. With Coinkite vouchers, you don’t need to know your recipient’s wallet address and it’s a great way to introduce new users to bitcoin.
Even owners of exchanges have API options. Their Quick Exchange Integration allows for an easy exchange to be created with Coinkite, even in the age of regulated exchanges emerging in the United States. Unregulated exchanges are still welcome in the bitcoin community, and some see them as the superior option.
But Coinkite’s vision for their Quick Exchange Integration isn’t for large exchanges handling massive volumes. In fact, it’s quite the opposite.
We envision this service being used for smaller amounts, typically less than one bitcoin per day. It can help your fraud and risk management to keep that in mind, and enforce a small limit on transactions. Legitimate customers are happy to work within those limits when it simplifies the hoops through which they must jump to do business with you.
According to the company, more coins besides bitcoin, litecoin and blackcoin will be added to Coinkite, but not at the moment. They plan on holding contests to help determine which cryptocurrencies they will support.
Would you be interested in participating in a contest to determine the next Coinkite supported coin? Let us know in the comments.
Images from Coinkite
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