Bayside Corp. (OTC PINK: BYSD) today announced through its subsidiary company Bitcoinz USA, the official launch of Vault 51, a secure offline storage for Bitcoin is now available to all consumers in Hong Kong. Furthermore, Bitcoinz USA is now offering Bitcoin for sale to consumers in Hong Kong through the Vault 51 website.
Presently, Vault 51 and the sale of Bitcoin is not available to consumers in Mainland China, however the company intends to make Vault 51 available throughout all of Mainland China in the near future. To continue, China has maintained more than 50% of the global Bitcoin market ever since the fourth quarter of 2013 and has since taken a quiet global leadership role in the Bitcoin sector.
However, Bitcoin owners and exchanges aren’t safe in China either. As recent as February of 2015, a major China based Bitcoin exchange came under a huge security breach in which $1.75 million worth of Bitcoin was stolen. “Vault 51 offers a premier defense system for Bitcoin consumers in Hong Kong, and soon in Mainland China while simultaneously providing massive upside potential for Bitcoinz USA.” – JW Walker, President, Bitcoinz USA.
Vault 51 is an offline storage system for Bitcoin users, which is represented by a Physical Bitcoin. The electronic Bitcoin is then stored offline in a secured computer chip known as Vault 51 and embedded in a Physical Bitcoin, which is not connected to the Internet. This process is also known as cold storage to avoid hacking, loss, or theft.