BTC China's Picasso ATM is a mobile bitcoin wallet, which allows users to directly sell their bitcoins for cash from almost any mobile device, essentially transforming that person into a mobile ATM. Because the app uses HTML5 functionality, it is available on nearly any browser, on any device: this expands the versatility of the app so that it can reach almost anywhere. Company CEO, Bobby Lee, announced several new features for the app on Tuesday Morning, including support for more languages and tools that allow the program to be used internationally.
The app does more than simply allow users to sell their bitcoins, as the new features on the program allow users to have even greater control over their sales. For example, users running on the most recently updated version of the Picasso ATM can now set their own profit margins on the trades, based on current market rates. 0.5 percent of all transactions are charged by BTC China as a minor transaction fee.
Additionally, the HTML5 functionality was also expanded. For example, Apple (News - Alert) had previously barred bitcoin wallets from appearing in the Apple App store, yet the fact that the app can be accessed through the mobile site means that Picasso ATM is able to override this limitation. This helps deliver the program to more countries around the world, where users can directly convert their bitcoins into cash by transferring them to the accounts of others.
BTC China also added several new security features to the program, as bitcoin assets can be quite valuable. Even though the site is readily accessible thanks to HTML5, the account is difficult to crack, as the company offers a two-password option to protect account currencies. Users can also implement a new 'Trust This Device' feature that allows the program to simply open up and be readily accessible without a password, although this requires some trust on the user's end that they will never lose their device or have it stolen.
Edited by Allison Sansone