The new iOS app is basically just a copy of the Copay app, which lets you store and trade bitcoins. The only difference? It has images that look like Tyson’s famous face tattoo!
And now for the obvious question: Should you trust your money to a product associated to a man who put a tattoo on his face?
That depends on your appetite for risk.
That’s the thing about Bitcoin. While this digital cash shows that there can indeed exist an Internet-based money system without government control, its independence also makes it relatively unreliable. The FDIC insures the money in the bank. There’s no such safeguard here.
“Mike Tyson Bitcoin” is the most secure kind of Bitcoin app. The user keeps the keys to Bitcoin wallets, so you’re 100% in control of your money. Plus, its software is open source, which means that code flaws can be spotted and fixed in public.