3 Bitcoin Companies Venture Capitalists Are Getting Excited About

For those who believe that Bitcoin is likely to be successful in the long run, it makes sense to consider investing in companies that aim to improve the Bitcoin economy. Here is some basic information about three of these companies that have been receiving a lot of attention lately.

1) Coinbase
Coinbase is an electronic wallet for Bitcoin. It is described on its website as "the simplest way to buy, use, and accept Bitcoin."  Coinbase is based in San Francisco, California and was founded in June 2012.  It has aimed to provide a service similar in experience to "Paypal" and launched its method to buy and sell bitcoins using a linked bank account in October of 2012. Coinbase investors include Start Fund, Funders Club, Greg Kidd, Garry Tan, Y Combinator, Adam Draper, and IDG Ventures.

2) Coinsetter
Coinsetter is a funded NYC-based levered forex trading platform for Bitcoin. It's goal is to enable traders to make levered trades on margin and short the Bitcoin market. It's blog promises that, "Through its focus on security, transparency and a great user experience, Coinsetter will be working to make bitcoin more accessible to both mainstream and institutional traders. In an ancillary arm, Coinsetter will also offer the first scalable solution for accredited investors and institutions to earn interest on their bitcoins." It announced in April 2013 that it had raised $500,000 in seed capital. Coinsetter investors include Tribeca Venture Partners, Barry Silbert, Jimmy Furland, Charles Songhurst, Ben Davenport, and Roger Ver.

3) BitPay
BitPay is an automated Bitcoin payment processing system that boldly quotes on the front page of its website that "“Credit Cards were never designed for the Internet!” It enables online merchants to except bitcoins as a form of payment. The service first launched in July 2011. It announced in January 2013 that it had raised $510,000 in capital. Bitpay investors include Barry Silbert, Shakil Khan, Jimmy Furland, and Roger Ver.