Home Crypto exchange Bitcoin payment processor BTCPay unveils new vault app

Bitcoin payment processor BTCPay unveils new vault app

BTCPay, a firm that allows easy migration of a merchant’s bitcoin base to its own self-hosted payment processor has united its new Vault app to its platform.

Established in 2017, the self-hosted, open-source bitcoin payments processor, will allow its clients to directly connect their desktop wallets and hardware wallets on the platform without giving up the private key.

According to an official report by BTCPay, they will further enable communication with BTCpay using its node to increase user experience and satisfaction while still keeping user’s security and privacy as its top priority.

“The vault wouldn’t store the users’ private keys but rather directly connect the user to multiple wallets on their desktop to allow transaction without giving up their private keys, which the users will have total control over.”

The vault’s main objective would be providing a cross-platform that enables compatibility with more external wallets while improving the hardware wallet user experience.

With all funds being verified against users Bitcoin full nodes, users can transact on the platform without having to give up their private keys.

BTCPay enlarges Compatibility with external wallets

At first, the internal wallet that was launched by BTCPay was only compatible with external wallet options such as Ledger Nano S and ColdCard.

Now, their newly launched product extends compatibility with all other external wallets options like Ledger Nano S, Trezor One, KeepKey, Digital BitBox, Ledger Nano X and Trezor Model T.

According to founder Nicolas Dorier, the aim of BTCPay is to provide an alternative platform to payment service giant BitPay.

Dorier told Bitcoin Magazine in October 2018 that his priority is to make sure that all software written to work on BitPay will work on BTCPay with little or no change.

Notably, the BTCPay Server recently, successfully integrated the Liquid Network into its array of software offerings.

It noted that this way, merchants on the platform can control how they’re receiving funds and will no longer be at the mercy of intercepting fees from third-party groups.

Although, BTCPay is allegedly one of the most popular ways that merchants are able to start accepting Bitcoin payments.

In fact, the post notes that “tens of thousands” of stores support it.

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