BitBox and Pocket Expand Partnership and Implement Innovative Protocol for Secure Bitcoin Sales

The Swiss-based bitcoin-only exchange Pocket App AG (Pocket Bitcoin) and the renowned hardware wallet manufacturer Shift Crypto AG (BitBox) are pleased to announce the expansion of their successful collaboration. Following the seamless integration of bitcoin purchases via Pocket into the BitBoxApp in March 2023, users can now also sell bitcoin directly through the integrated BitBoxApp.

This new feature showcases the shared goal of both companies to promote safe and easy access to bitcoin. Owners of the BitBox02 hardware wallet can now not only seamlessly buy bitcoin via the BitBoxApp, but also sell it directly – another important addition to the user-friendly offering for those who want to make their journey into the bitcoin world safe and stress-free.

“Our goal is to make bitcoin accessible and secure for everyone. By integrating closely with BitBox, we enable our users to focus entirely on bitcoin without having to worry about the technical challenges. The addition of bitcoin sales brings us a big step closer to this goal,” says David Knezic, CEO and founder of Pocket Bitcoin. ”With this new feature, we are not only strengthening our service offering, but also confidence in our platform.”

Secure payment requests

A particular highlight of this expansion is the implementation of the payment request standard (SLIP-24). Thanks to this technology, the BitBox02, and thus its owner, can ensure that the bitcoin address used for the deposit actually comes from Pocket, as it has been signed by Pocket beforehand.

When receiving a simple bitcoin address to which bitcoin is supposed to be transferred, it is never really known whether the address received belongs to the exchange or whether it has been manipulated before the sender received it. Such manipulation is also known as a man-in-the-middle attack. The Payment Requests protocol (SLIP-24) was developed to prevent bitcoin from being sent to an address belonging to a hacker or thief.

This additional layer of security protects BitBox02 users from manipulation and significantly increases the standard of transaction security.

New security standard through innovative integration

By integrating Payment Requests, BitBox and Pocket are setting a new standard in security architecture for bitcoin transactions. This unique solution allows users to sell bitcoin with maximum security directly through the BitBoxApp, without having to worry about potentially manipulated receiving addresses.

When selling bitcoin, the BitBox02 now indicates on its display that it is a transaction to Pocket Bitcoin. In addition, the user is shown the IBAN they used, to ensure that the fiat transaction is paid out to the correct account. It is no longer necessary to check the bitcoin receiving address. This is a significant step towards improving the security and user-friendliness of bitcoin transactions.

“Security is at the heart of our philosophy, and with the introduction of payment requests in the BitBoxApp, we have reached another milestone,” explains Douglas Bakkum, CEO of BitBox. ”We are pleased to have a partner like Pocket that shares the same high standards.”

Celebrated launch with the “Uptober” promotion

Pocket is celebrating the expansion of its offering to include bitcoin sales by launching a promotion in October, which is now known as “Uptober” due to traditionally positive price expectations. Throughout October, Pocket is giving away 10 Swiss francs/euros in bitcoin (instead of 5 CHF/EUR) to all new customers with the code “Uptober” or any other referral code.

Existing customers can test the new feature without paying fees on their first bitcoin sale (maximum 1000 CHF / 950 €)!