Download the Coinffeine Technical Preview version

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Photo: GotCredit, CC BY 2.0, (Not changes made)

The Technical Preview version of our P2P Bitcoin exchange is here!

If you are interested in testing the first P2P Bitcoin automatic exchange, you only need to download our application and, once installed, start buying and selling bitcoins with other Coinffeine users.

This version is intended to enable independent users and banks to try the application at an early stage, integrate it into their services and operate as Bitcoin exchanges. Although the Coinffeine Technical Preview is fully functional, we decided to go step by step in this early stage, and distributed a version that is configured to be used on a Testnet or test blockchain. In this way, the users can try it without spending money and eliminate any risks.

To test the platform, you only have to download the application from our website. Just as you do not need to register to use BitTorrent, you do not need to register or provide any identification to use Coinffeine. You just install it and use it.

This new version introduces our new user interface, it is available for Windows, Mac and Linux, and for the first time in a P2P exchange, users can experience an automatic, secure and without arbitrators exchange similar to that offered by traditional exchanges, as in Bitstamp or Coinbase, but with all the advantages of the P2P.

Coinffeine’s intention is to combine the concept of a wallet and exchange in the same product. It is a concept we believe have a great potential, and therefore we leave the following steps to the imagination.

Coinffeine is a desktop application that works as a wallet, which allows to store bitcoins safely, and to connect an OKPay account -a payments processor similar to PayPal- to buy and sell bitcoins with other users.

In addition, with Coinffeine you do not have send your bitcoins to a platform to operate, as in Bitstamp, but they remain at all times in your wallet and only you have control over them.

Download our app now and discover why Coinffeine is “the BitTorrent for your bitcoins”!

Download the Coinffeine Technical Preview version

Coinffeine launches the Technical Preview version of its P2P Bitcoin exchange

Coinffeine Splash Screen

 

The Spanish Bitcoin startup Coinffeine launches the Technical Preview version of its P2P Bitcoin exchange. For the first time in a P2P exchange, users can experience an automatic and secure exchange similar to that offered by traditional exchanges, but with all the advantages of the P2P.

This version is intended to enable independent users and banks to try the application at an early stage, integrate it into their services and operate as Bitcoin exchanges. Everyone interested can download our application, and once installed you can begin to buy and sell bitcoins with other Coinffeine users.

Although the Coinffeine Technical Preview is fully functional, we decided to go step by step in this early stage, and distribute a version that is configured to be used on a Testnet or test blockchain. In this way, the users can try it without spending money and eliminate any risks.

“From today the Bitcoin community can try Coinffeine, the first P2P Bitcoin exchange without arbitrators. This is the same version that we are offering to our bank partners and customers. Users will have to wait a little longer to use it with real bitcoins, but we are sure the wait will be worthwhile. We hope to transform Coinffeine’s relationships with banks and payment processors into services that give them added value, said Alberto Gómez Toribio, CEO of Coinffeine.

To test the platform, users just have to download it from our website. Just as you do not need to register to use BitTorrent, you do not need to register or provide any identification to use the application. You just install it and use it. Coinffeine is available for Windows, Mac and Linux.

This new version also introduces our new user interface, which is very different from what you saw in the last public appearance. “Few Bitcoin products invest sufficient resources in design and usability. Our team continues to grow, and we have recently added an expert in this field to our team. He has been in charge of the transformation of Coinffeine’s user experience, and the result is something completely new”, said Gómez.

Coinffeine’s intention is to combine the concept of a wallet and exchange in the same product. It is a concept we believe have a great potential, and therefore we leave the following steps to the imagination.

“Coinffeine is a desktop wallet like Armory or Electrum with which you control your money safely. This allows the company to avoid disclosing MSB, because we do not touch the money or the bitcoins from our users. We have learned much from the P2P industry and we want to apply many of these concepts to the FinTech ecosystem”, said Gómez.

This release concludes the period of private testing that started last December 18th, where Coinffeine presented the first Alpha version of the platform in a public event in Madrid and a limited number of users joined the private user experience program.

Prior to the release of the version 1.0 of the product, we will evaluate the creation of a similar private testing program. This time we will invite a number of new users to try the platform, but with real bitcoins and money.

 

Coinffeine, a desktop application

Coinffeine is a desktop application that has been defined by those who have tried it as the ‘BitTorrent for Bitcoin’.

The application works as a wallet, which allows to store bitcoins safely, and to connect an OKPay account -a payments processor similar to PayPal- to buy and sell bitcoins with other users.

The main difference with other P2P Bitcoin exchanges, such as LocalBitcoins or BitSquare, is that these exchanges function like eBay, ie with the need to establish contact with another person, agree on the price and pay trusting that you will receive the bitcoins. In Coinffeine the process is automatic, safe and without arbitrators: the experience is the same as using an exchange as Bitstamp or Coinbase.

“In LocalBitcoins or BitSquare you can’t do trading efficiently because you can’t keep orders in the market that run automatically. In these markets, when a user opens an order that corresponds to yours, you must intervene. Some platforms incorporate persons acting as an arbitrator in a dispute, which makes the process a little safer, but much slower and expensive”, said Gómez.

In addition, with Coinffeine you do not have send your bitcoins to a platform to operate, as in Bitstamp, but they remain at all times in your wallet and only you have control over them.

Coinffeine’s design is similar to BitTorrent: it works between users. This means that the user does not have to register or provide personal information to use the application, you simply download it and use it.

Coinffeine is also reliable. The source code is available to anyone who wants to review it on its profile on the popular social network Github.

 

Brief history of Coinffeine

Coinffeine is a Bitcoin startup based in Madrid. It was founded in 2014 by four Spanish engineers with previous experience working together on projects related to distributed systems and Big Data.

It was the first company in the world that was founded using bitcoins as social capital. The potential of Coinffeine’s work has been recognized at conferences like CoinSummit. The spanish organisation ICEX recently selected the startup as one of the 12 Spanish companies with most international outlook to be presented in Silicon Valley, an appointment that took place in November last year.

Coinffeine is also known for becoming the first company within the Bitcoin ecosystem to have a major bank as partner and investor: the Spanish bank Bankinter.

Coinffeine launches the Technical Preview version of its P2P Bitcoin exchange

Coinffeine attends the Digital Currency Summit in Madrid, Spain

Madrid
Photo: Roberto Taddeo, CC BY 2.0, (Not changes made)

Madrid, our home city, will host the Digital Currency Summit (DCS) tomorrow, an event that the organizers describe as “the gathering point for banks, governments and investors to debate about Cryptocurrencies”. Coinffeine does not want to miss it!

DCS is a unique event organized by banks and for banks, which it is not a precedent but a symptom. Spain is home to some of the world’s largest banks and financial institutions that have greater interest in developing new products with Bitcoin. The B2B in Spain is possible, and the DCS conference is one of the best places to meet the protagonists of this ecosystem.

The event will be attended by banks and companies from Spain like BBVA, Banco Santander and Banco Sabadell and international names such as UBS, Lloyds Banking Group, Fidor Bank, Accenture, Rabobank, Osborne & Clarke and Rakuten, to mention a few. In addition the event will also be attended by leading Bitcoin companies such as Blockchain, Circle, KncMiner and MeXBT.

A lot of news to share

The one-day event will analyse the Bitcoin´s legislative and legal framework, its overall impact and its integration in the banking system, a framework in which Coinffeine has a lot to say. We are one of the few Bitcoin startups with a product that fits the banks’ business models and that has managed to gain their trust and confidence. After closing our private Trial program and finalizing the details of the next launch of our Technical Preview version, we have a lot of news to share.

It is expected that many of the conversations revolve around the recently published binding response of the Spanish Tax Agency which states that Bitcoin is not encumbered with the Value Added Tax (VAT) when used as means of payment or donation.

Coinffeine will attend as audience to listen and share experiences with speakers and attendees about our work with Spanish banks; what products and services are being created around our protocol, our experienes meeting with regulators in New York and the progress with the Spanish politicians after attending the debates in the Spanish Congress on the process of Bitcoin regulation in Spain.

Coinffeine wants to congratulate Alex Puig, executive director of the event, which has successfully transformed charisma and talent into a unique event of its kind.

In addition, Puig is also the organizer of Blockchain and Digital Currencies Workshop at the European Commission, where Coinffeine has been invited as a speaker. So our CEO Alberto will be in Brussels on Monday April 27th to participate in this important event. He will, along with Fidor Bank, discuss emerging partnerships being developed between the Bitcoin ecosystem and banking in a panel entitled ” Why Banks Should (not) be afraid by cryptocurrencies – experience from an early adopter bank”.

Coinffeine attends the Digital Currency Summit in Madrid, Spain

The decentralized essence

Descentralization02
Photo: Umberto Salvagnin, CC BY 2.0 (Rotated 90º)

The essence of Bitcoin is its decentralized nature. It is the Bitcoin network nodes which makes up its heartbeat, and this is probably one of its most important features. But even if this is one of the most relevant properties of cryptocurrencies, innovation in services and applications in the Bitcoin ecosystem is packed with projects that ignore this property and conceive centralized conglomerates.

The decentralization of Bitcoin is a paradigm shift to the exchange of digital goods, assets, money and information between individuals and businesses. It also responds to the emergence and evolution of the P2P economy, which has become increasingly important in our daily life. These changes are in constant evolution, and we believe they are here to stay.

Coinffeine joined the flow of services within the ecosystem that wanted to delve into this important property. We wanted to look at this profoundly to be able to take it further. Coinffeine’s commitment lies in the decentralization of the exchange of bitcoins, which gives users the full power over their bitcoins in the process of exchange, avoids the need to rely on a third party and ensures security in the process. This is something, that from our point of view, is an essential and necessary evolution in the progress of Bitcoin.

The decentralization of Bitcoin exchanges has undoubtedly been, and remains, one of the hottest topics concerning digital currency in forums, social networks, blogs, publications specialized in cryptocurrencies as well as in the mass media. Many of the big headlines about Bitcoin, have dealt with cyber attacks on exchanges and the consequent losses of bitcoins by their owners. MtGox or Bitstamp, regretfully for themselves and the vast majority of the Bitcoin community, have been two of the most relevant names in such news. Although not desirable, it is not unthinkable that these headlines will repeat.

Coinffeine does not seek to validate its existence with such scandals. That has never been our intention and it will never be. But nonetheless, it is undeniable that the decentralized nature, the very essence of our exchange, will make sure these headlines do not repeat.

The decentralized essence

Coinffeine grows and improves

Team
Foto: Andy Rennie, CC BY-SA 2.0 (not changes made)

We are about to enter a new and significant phase in our work: the interaction between Coinffeine‘s future users and our application. For this, Coinffeine’s team grows. We incorporate a UX professional with a profile that has conquered us. Over the coming weeks we will work to ensure that the user experience of everyone that downloads the application is, from the first second, as pleasant and attractive as possible.

From our own personal experience in the use of applications, we know the usability and design are aspects of maximum importance. Too often it is not taken serious enough, which creates dissatisfaction with the users. Coinffeine is aware of this. We do not want to fall into the widespread mistake and neglect usability and design, simply because we do not want to disappoint the expectations placed on us.

We understand that users wants to find the application intuitive, that it confers ease of use and functionality, agility and speed, in a sleek and visually appealing design that will make the use of Coinffeine a fun, enjoyable, fluid, smooth and practical experience. And that’s exactly what we want to achieve!

We have intense hours of work ahead, but with a substantial reward:

A better and improved Coinffeine!

Coinffeine grows and improves

Banks join the cryptocurrencies

Future
Photo: Kristian Bjornard, CC BY-SA 2.0 (not changes made)

Banks join the cryptocurrencies. As with any major change, the steps that are being taken are very cautious, but nevertheless significant.

It is increasingly evident that Bitcoin and the blockchain technology are here to stay. Internet needs to find a payment solution that is similar to cash, and that is exactly what Bitcoin is. Banks are starting to see the potential, and far from turning their backs to it, they are joining this technological transformation.

 Is 2015 the year of the transformation?

During the first months of 2015 we have seen a series of moves in this direction. The European Central Bank published its second report on cryptocurrencies early March, which defines them as “a representation of value (…) that can be used as an alternative to money” and described them as “potentially transformatives” in the field of payments. The Bank of England recently published a paper studying how to adapt the Bitcoin technology for the eurozone, and recognized that cryptocurrencies have shown the possibility of transferring value safely without the need of a third party. Furthermore, IBM ‘s next big project was made public a few days ago:  They are looking at the possibility of adopting the Bitcoin technology for the major currencies in cooperation with the central banks.

In 2015 we have also seen the investment of BBVA Ventures in Coinbase, and the alliance between the German based Fidor Bank and Bitcoin.de to enable sending and receiving bitcoins directly between bank accounts.

We are convinced that this is just the beginning. Not surprisingly, Coinffeine´s technology was born with this philosophy. Our protocol turns the services traditionally offered by a service provider into contracts between individuals, and thereby gives banks a privileged place to explore the new cryptocurrencies and digital goods market.

From last year Coinffeine rely on a big Spanish bank among its partners. Bankinter commited to Bitcoin with Coinffeine, and it was one of the first banks in the world to enter the ecosystem. We are also currently working with other major banks to reach similar agreements, as we believe that the future lies on the alliance between banks and Bitcoin.

Coinffeine to the European Commission

In the same way that banks are showing more interest in learning about the potential of Bitcoin and the blockchain technology, the authorities and the regulators are also moving in this direction. And for that they are considering the opinion of experts. Invited by a political party, Coinffeine has already been in the Spanish Parliament to bring our vision of the regulatory process. Maybe that’s why it did not surprise us that we have received an invitation to participate in a workshop about Bitcoin organized by the European Commission next month. This also demonstrates the increasing interest that exists about the progress made by the Spanish Bitcoin community.

On April 27th, Coinffeine will be in Brussels to participate in the event Blockchain and Digital Currencies Workshop, along with Alex Puig, founder of Digital Currency Summit and the event organizer, other important companies in the ecosystem such as Ethereum and Circle and experts of the European financial sector. Alberto, our CEO, will take part in the panel dedicated to banks “Why Banks should (not) be afraid by cryptocurrencies – experience from an early adopter bank”, which will also be attended by Fidor Bank. The panel will discuss about the early and incipient experiences in the alliance banking – Bitcoin.

The transformation is underway and Coinffeine expects to be among its protagonists.

Banks join the cryptocurrencies

Coinffeine brings Bitcoin to the Mobile World Congress

4YFN-WMC
Photo: 4YFN

Coinfeine is in Barcelona these days. The Catalan capital is host to the Mobile World Congress (MWC) and the startup event 4 Years From Now (4YFN), and we have been invited to be part of the ICEX stand in the event.

Without a doubt it is a great opportunity to attract new attention for our distributed Bitcoin exchange in front of a national and international audience that visits the capital of mobile phones these days. Coinffiene is proud to be one of the few Spanish Bitcoin companies that participates, and we have got attention for the possible union between banks and Bitcoin that our protocol makes possible. When it was made public that the large Spanish bank Bankinter is our partner, nobody will be surprised that we are working for other Spanish banks to do similar agreements.

We started off the fair last Monday with a workshop about Bitcoin in the 4YFN program. Together with Jorge Ordovás, from Foro de Economía Digital and José Ramón Morales, from Garrigues, our CEO Alberto carried out a workshop called “Bitcoin, the next (r)evolution”. The workshop wanted to transmit a simple message: Bitcoin exists because we need a something similar to cash on the Internet. The interest for the workshop exceeded our expectations and it was one of the 9 that was fully booked before the fair started. After a small game with paper wallets and a talk about new payment systems like the VISA card rechargeable with bitcoins from Xapo, we used the occasion to explain and show how Coinffeine works. And once again, we could confirm it did not disappoint.

4YFN WorkshopDuring the rest of the first day our stand was full of activity. Being a reference for Bitcoin startups in Spain, we received visits from all kind of people that kept us busy practically all the time. Most of our visitors wanted to meet the team behind one of the most talked startups these days. And the second day we had the same experience.

We are enthusiastic about this event. Being invited to other international events like the Silicon Valley Forum in San Francisco or CoinSummit in London, the Mobile World Congress is the first Spanish-based large event we have attended. It will not be the last.

So if you happen to be in Barcelona come and visit our stand! Get to know how Coinffeine works and how our business plan includes banks in the Bitcoin ecosystem. We are thrilled to share our experiences.

 

Coinffeine brings Bitcoin to the Mobile World Congress