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Bitcoin trading apps reappear in App Store following policy change

updated 05:48 am EDT, Mon June 16, 2014

Coin Pocket is first App Store Bitcoin wallet after Apple altered App Store rules

Bitcoin apps taking advantage of Apple's recent rule changes concerning virtual currencies have started to appear in the App Store. Coin Pocket, a bitcoin wallet similar to others previously pulled by Apple before the company changed its policy, can be used to send and receive the currency, includes a "private key sweep" for quicker transfers, and adds a currency conversion checker.

Coindesk reports the app is in fact a wrapper for an open source HTML5 wallet, though this time the app has access to the iPhone's camera, allowing it to perform QR code scanning. Coin Pocket will also generate a BIP38-encrypted version of the wallet's private key, though this has reportedly crashed the app a number of times.

Coin Pocket
Coin Pocket

Apple changed its App Store policy earlier this month, with the rules stating that apps "may facilitate transmission of approved virtual currencies provided that they do so in compliance with all state and federal laws for the territories in which the app functions."

By allowing access to bitcoin, Apple has effectively opened the door to transactions with apps which circumvent the App Store's 30-percent in-app purchase rule. One app, eGifter, lets users spend bitcoin on gift cards, something which could be leveraged to bypass the App Store royalty completely.

by MacNN Staff



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