фото показано с : blokt.com

The cryptocurrency scene these days does not lack crypto wallets. This means that start-ups offering the service will have to vie for the attention of venture capitalist (VC) firms and somehow convince a few of them that their business model is a cut above the rest.

In its recent funding round, Los Angeles area start-up MyCrypto successfully raised $4 million from investors led by San Francisco based Polychain Capital, which means that investors were convinced that the start-up would be bringing something worthwhile to the table.

MyCrypto is a Los Angeles based crypto wallet start-up, with its headquarter located at the South Bay city of Redondo Beach, according to L.A. Biz. Despite the glut of wallets currently available on the market, the company was able to raise $4 million in its first institutional funding round.

The funding round was led by San Francisco based Polychain Capital, a VC firm that focuses on cryptocurrency and blockchain-related start-ups. The other investors include Shapeshift, Ausum Blockchain Fund, Chance Du (Coefficient Ventures), as well as Boost VC, Earn cofounder and CFO Lily Liu, and Mainframe founder and CEO Mick Hagen.

Polychain’s participation is particularly significant to MyCrypto, according to the L.A. Biz report. The VC firm is extremely knowledgeable in the crypto space through its expansive portfolio. Its founder and CEO, Olaf Carlson-Wee, is experienced in building ultrasecure systems and processes, as well as forming a world-class customer support team, thanks to his previous experience at Coinbase.

Cryptocurrency investing might not be for everyone. Some people are turned off by the current volatility of the market, while others are just not interested enough to give cryptos a try. Surprisingly, a significant portion (27.4%) of those who did not yet invest in cryptos find the process too difficult to understand, according to Finder.

Olaf Carlson-Wee has this to say about cryptocurrency adoption:

“We believe today one of the major bottlenecks to cryptocurrency adoption is the lack of an easy-to-use interface for average people.”

Fortunately, that’s where MyCrypto comes in. For this reason, it markets its service as a “consumer-friendly gateway” for users of cryptocurrencies. Its interface “simplifies the process of storing, sending and receiving” digital currencies. What’s even more important is that MyCrypto offers everything an investor would ever need — a suite of tools that can handle wallet creation, crypto trading and even sending and receiving digital coins.

The company now has a desktop app that allows clients easy access and management of their cryptocurrencies without having to deal with other online services and protocols. The cash that the company raised from the recent funding round will be put to good news in polishing the company’s “mass consumer-friendly gateway for cryptocurrency users,” as well as grow its team to give its users the best customer experience possible.

In a gist, MyCrypto offers a complete suite of crypto tools, from wallet creation to crypto trading, that are easy to use even for the regular Joe. It is simplicity that convinced those seasoned VC firms to invest in the start-up.

MyCrypto Brings Simplicity to the Otherwise Complicated World of Crypto Investing was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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