Find Ethereum a bit... inaccessible? MyCrypto, an LA-based cryptocurrency startup, just raised $4 million in funding to help newbies dabbling in the space.
The company has built an interface that allows cryptocurrency users to create and access a simple digital wallet that helps them save, send and receive virtual currencies, as well as check their balance. The fresh funding will be used to usher the company’s efforts forward.
MyCrypto’s founder and CEO, Taylor Monahan, said she understands that people may find cryptocurrency difficult to understand — so the company has made user-friendliness its point of focus.
“Our biggest push right now is taking a hard look at our product and getting it to a point where an average user — a person who doesn’t have a lot of cryptocurrency experience but who wants to take advantage of the blockchain in some way — can come to our site and interact with the blockchain or buy some cryptocurrency in a really user friendly way,” Monahan said.
In addition, the company also has plans to expand its UX design and product teams.
“Our biggest push right now is taking a hard look at our product and getting it to a point where an average user can come to our site... and buy some cryptocurrency in a really user friendly way.”
“We want to grow our team so that everything is ready for that next wave of users who enter the space,” Monahan said. “We want to be over prepared and make sure they are able to come to our site and do everything with confidence.”
Polychain Capital, an investor in cryptocurrency protocols and companies, led the funding round. Boost VC Fund 3, Ausum Blockchain Fund, and ShapeShift — as well as Mick Hagen, Chance Du, Albert Ni, and Earn co-founder Lily Liu — also participated in the round.
