The Toronto, Canada-based team of Market Clouds has come up with Cryptiv, which aims to simplify transactions involving Bitcoin & other crypto currencies such as Litecoin & Dogecoin.

It may seem like an odd time to come up with something like this, given the huge turmoil in the Bitcoin realm after the Mt. Gox & Flexcoin blowups. But if you happen to be a true believer in the future of crypto currencies, then it’s the perfect time to make crypto currency transactions safer, simpler & more transparent.

The Cryptiv founders say “we are standing at the crossroads, same as the changes wrought on the Internet by search engines like Google, & then by social networks like Twitter & Facebook.” They say that the crypto currency revolution will throw up equally important & impactful organizations.

That remains to be seen, but if it happens, then Cryptiv plans to be right in the middle of it. The key pain point that Cryptiv addresses is the fear people have of crypto currencies & the lack of understanding about how to use them.

With Cryptiv, you don’t need to worry about all that. You have your dashboard that allows you to send & spend a crypto currency in a few clicks. You can transfer Bitcoins & other cryptocoins to your friends or family, or buy something you want Online from a 3rd party, just like using PayPal to pay for Online transactions.

One more innovation is that you may use Cryptiv for tipping. You can give tips simply by clicking tip on a page which has the tip button, same as a social media “like” or “tweet” button.

Needless to say, crypto currency transactions are a whole lot easier & beneficial with lower fees & restrictions as compared to your regular money transactions on the net.

The catch, of course, is that the number of participating merchants & Online Sites is still minuscule. That said, it’s early days yet & the Bitcoin ATM at SXSW or startups like Cryptiv are small steps ahead in a long road towards global online acceptance of crypto currencies like paypal & credit cards.

Cryptiv is launching in closed beta. If you want to be a beta tester, click here to score an invite.

Cryptiv was founded by Mat Cybula, Mitchell Hammerstedt, Mark Brophy & Geoffrey Byers. They’re all co-founders of Market Clouds too. Cybula is the CEO of Cryptiv & Hammerstedt is the expert on financial markets, & Brophy is the tech guy.

Image Credit: Cryptiv

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