Review of KryptoKit: A Browser-Integrated Payment Wallet

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KryptoKits interface fits in beautifully with Chrome

KryptoKits interface fits in beautifully with Chrome

Bitcoin may be in it’s infancy, but wallet software for using it already comes in all shapes and sizes.  Even with the myriad of software solutions, exchanges, and cold-storage options, many critics say the options are still too inflexible.  Some of the most vocal bitcoin doubters claim that for the average person storing and spending bitcoin can be intimidating, confusing, and even risky.  CoinKite is already doing great things for brick-and-mortar stores, but spending bitcoin on the internet can still be improved.  This is the problem KryptoKit is designed to solve.  Let’s talk features!

Ease of use

A Google Chrome browser extension, KryptoKit downloads and installs in roughly zero seconds.  It’s subtle icon lies nestled next to Chrome’s menu icon, leaving the menu bar uncluttered and easy to access.  Upon clicking the icon, you have immediate access to your wallet address, a price-ticker, and a send/amount form for payments.  If there are any bitcoin addresses on the screen, it will automatically have that address already filled into the field.  Here is a video demonstrating how frictionless payment can be:

Security

KryptoKit allows you to set a password, preventing your cat from strolling across your keyboard and donating your entire life savings to Sean’s Outpost (Would that be so bad?).  The bitcoiner in me demands 2-factor-authorization, but of course KryptoKit is primarily a hot-wallet, not designed to be Fort Knox.  That is to say, do not deposit what you do not intend to spend soon.  Also, directly on the main tab is a link to your wallets full transaction history, and a single button to generate a new address whenever you desire.  So if you are worried about your private key, change your address as many times as you like.

Messenger service, with PGP encryption

KryptoKit also includes a fully functioning messenger, allowing easy and secure communication between you and your business associates.  This is located on the second of the four tabs in the main interface, and allows for PGP key management, as well as creation.  For many people trying to apply their skills to the emerging industry of cryptocurrency, secure messaging is a necessity, and this wallet provides it beautifully.

The bells, the whistles…

I have yet to meet the bitcoiner that is ever more than five seconds from accessing a Bitstamp price chart, so the 24hr and 30 day charts located on the fourth tab of the KryptoKit menu is practically expected.  In addition to those, though, the third menu includes the latest bitcoin news provided by Google.  These features are not what I would have thought to put in a wallet program myself, but after seeing how accessible and responsive they are, I was convinced I needed them.  One thing I am very excited to see is KryptoKit’s announcement this week to incorporate a directory of web-stores that accept bitcoin.

Summary

Overall, using KryptoKit has been a pleasure, and I will more than likely continue doing so.  While I very rarely purchase things online with bitcoin, I do move bitcoin frequently from one website to another, and collect micropayments fairly often.  For those of us with an active internet life, KryptoKit is a breath of fresh air when it comes to fluidly managing our magic internet money.

Download KryptoKit for Chrome HERE!

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