A start-up is attempting to make Bitcoin more accessible, by launching its own online bitcoin storage service. The Boston-based Circle allows users to purchase Bitcoin, store it in their account, and transfer to other Bitcoin accounts or users, with the service attempting to offer a more user-friendly approach when compared to other digital wallet services. The simplified interface shows all transactions in dollars rather than in bitcoins, with $10 of the currency added to accounts once they have been linked to a debit card, credit card, or bank account.
One advantage to raising gobs of venture capital is that you now have gobs of venture capital at your disposal. This fact, of course, lets you make decisions in the early days of a company’s existence that other businesses just couldn’t or shouldn’t do. Take, for example, a new bitcoin startup called Circle Internet Financial. Co-founded by Jeremy Allaire, a well-regarded entrepreneur who created the publicly traded company Brightcove, Circle has taken on $26 million in investment prior to launch. Today, it is unveiling its product and it isn’t charging for any of its services. Not one bitcent. Circle is a website where people can purchase and store bitcoin. Users can also send bitcoin to other individuals or to a company that accepts bitcoin as a form of payment. Other new companies do similar things, but mostly charge for some piece of their service.
