Serial entrepreneur Jeremy Allaire founded the digital currency company Circle. The company is backed by some of the foremost world-leading venture capital investors around. Bitcoin is a new type of currency that has begun going mainstream. However, to be effective, the average person needs to know how to use it and really understand the concept behind it.
At the current time, the fan base of Bitcoin is mostly crypto-currency enthusiasts and financial whizzes who want to trade another asset. Circle is the company that works to give Bitcoin the mainstream image they need to be successful. Those who have been using online banking practices or sites like Paypal will grasp how the system works more than others.
Transactions are processed fast, actually within minutes. This is better than waiting almost a week when using Coinbase. Circle offers an interface that is consumer-friendly, which is a big plus. Nearly anyone who has any computer skills at all can use it. Circle opened in May of 2014, but it was by invite only. Now, it is open to everyone.
Recently, they added six new languages to their site. This is in addition to their standard English platform. Anyone in the world can use this wallet as it is user-friendly for many regions. Another cool feature is their auto-detecting software. When a consumer logs in, Click can see what country they are from. What the user will see is a page that is already in their language and currency. Most people put value in their local currency, so this is a great way for Click to engage with a diverse group of people.
Another great thing for users to remember is that their account balance is insured in case of theft at a rate of 100 percent. Since their full public launch, every user who has Bitcoin with Circle is covered. One of the largest insurance brokers around, Marsh, is covering these funds. They worked long and hard on getting a company to ensure the project, and they landed one of the biggest brokers around. While they weren’t concerned about it as much at first, when Mt. Gox was hacked and it caused their shutdown, it lit a little fire under the CEO to get rolling on this coverage.
Though so many insurance agents are leery of cryptocurrency, Marsh believed in the product enough to guarantee security. People are always concerned about cyber-hackers. They become even more concerned when their money is brought into the mix. Circle is keeping all assets kept offline in vaults. They are doing their best to ensure protection.
Circle has an app for both iOS and Android systems. Users can use their online site or an app from their smartphone or tablet. It is so easy to use that some say anyone who can tell time can use this service. Though the company has gained momentum over the past two years, people are just now beginning to trust cyber currencies enough to get involved. There is no way but up from here, and Bitcoin through the help of Circle, is gaining in popularity.