Polychain Capital has invested $4 million in MyCrypto, an open source interface publisher which allows a user to manage the process of storing their cryptocurrency with ease.
The startup would use the capital raised to build a user-friendly platform for users of digital currencies to create new wallets. MyCrypto would also allow the user to buy, sell or exchange cryptocurrencies.
The desktop app which was recently launched by the startup allows the user to secure funds outside an exchange easier. A user can also use cryptocurrencies without online resources.
MyCrypto is non-custodial, wherein the user data or any sort of personal information is not held by the startup. The startup also emphasizes on education the user by empowering the customers to manage their cryptocurrencies safely and securely and the user is in complete control of his/her private keys which cannot be replaced if lost.
Taylor Monahan, the CEO for MyCrypto said in a statement “We’re dedicated to designing a user experience which would simplify how people can access and store cryptocurrency.” He further stated, “We’ve received overwhelming support from our investors, partners, and community.”