Walleto has unveiled its new bitcoin wallet of the same name, a custodial lightning network enabled entity designed to make bitcoin more accessible and portable.
Unlike current bureaucratic payment systems bitcoin can be transacted at any time from anywhere in the world, yet the associated costs and transaction times are often unpredictable with users being put off by needing to remember private keys. Walleto states that it “solves these issues through its easy-to-use interface, low fees and custodial design”.
Commenting on the partnership, chief executive officer of Walleto Limited, Sulim Malook, said: “We continuously monitor developments in bitcoin and the lightning network because the thinking behind it is ideal for the micro payments associated with lottery.
“Making deposits and withdrawals with fiat currency is time-consuming and costly. Walleto will provide the quickest transactions in crypto with costs lower than any other lottery operator worldwide, helping our players play and collect their winnings without delay.”
Built by Peach, the bitcoin payments engineering division of Bitfury Group, Chris Dickson, head of blockchain solutions, added: “Walleto is a user-friendly and fully customisable wallet for businesses who want to offer custodial bitcoin wallets as part of their services.
“We look forward to seeing the advancement of bitcoin payments through the efforts of Walleto, Earn Bitcoin and Crypto Millions Lotto.”
Malook added: “We could not be more pleased with the Peach wallet that has been customized for us by the Bitfury team. Their experience in software development and reputation in cryptocurrency precedes them.”
Walleto is now available to customers to download from the App store or Google Play.