Coinkite has a longer term approach to the crypto-currency business and they define themselves as a crypto-bank rather than a wallet service only.
Their value proposition is unique because in one single wallet users can have separate accounts and in different denominations. Also, their merchant services are advanced in features and hardware.
Highlights:
Send and Receive: This is part of the basic digital currency network functionality all wallets provide.
Buy and Sell: Users need to use third party exchange services, but they can link their addresses to receive their coins in their Coinkite wallets.
Debit Card: This is one of Coinkite’s key differentiators. Users can request a debit card that they can link to any of their Coinkite accounts (Bitcoin, Litecoin, or any other they might have). When they go to merchants that support this payment system they can use them to buy their products and services.
Litecoin, Other: The Coinkite wallet service also supports Litecoins and they will include more digital currencies in the near future. This makes their service a “multi-digital-currency” service. Regardless of what denomination your money is in you have all your accounts and addresses under one wallet.
Merchant Services: They provide services for merchants to get paid in Bitcoins and other crypto-currencies online and offline. Each merchant gets a private web page to track their accounts and users can go and pay there too.
Merchant Hardware: This is another of Coinkite’s key differentiators. They manufacture and provide a POS style machine for merchants to be able to charge when their clients use the digital currency debit card mentioned above. The machine works like a traditional credit card machine and also shows a QR code when customers want to pay with their phone apps instead.
Link Bank Account: As mentioned above their service is limited to crypto-currencies so they don’t provide links to regular bank accounts.
Pay by Email: Users can send and receive digital currencies using their email.
Web and Mobile: All their services are accessed through their website which is “responsive” meaning it adapts to users’ screens when accessed through mobile devices, therefore all functionality is available on all devices.
Keys Backup: Users can backup their private keys, but they charge a small fee because they prefer the keys to be kept in their encrypted servers rather than on their users’ devices which may be compromised more easily.
You Control Keys: They keep their clients’ keys encrypted in their servers so only users can access them, therefore users have full control of their keys.
Fees:
Coinkite has three account plans, none charge the mining fees for faster transaction processing since the company assumes those costs. Their “Simple, fair pricing” levels are:
Mini: This is based on withdrawal fees where they charge a 2.47% per withdrawal except for the first one which is free in case the user didn’t like the service. Users can get up to 2 sub-accounts per currency account, there is no free debit card in this plan and merchants don’t have access to a point of sale (POS) hardware device. When users pay at merchants who have their POS device there are no withdrawal fees.
Standard: This one is base on a monthly or yearly fee of BTC 0.03 or BTC 0.3 respectively. Users get 10 sub-accounts per currency account, 1 free debit card, 1000 free withdrawals per month, and if they are merchants they can buy the POS hardware device to get paid with the Coinkite debit cards. All withdrawals at merchants with the POS device are free.
Business: This plan costs BTC 0.09 monthly or BTC 0.9 annually and users can get unlimited sub-accounts, unlimited free withdrawals, up to 10 free debit cards, unlimited free withdrawals at POS, an extra discount on merchant terminals, and priority email support.
