Bitcoin payment app raises over $1 million in nine days

Plutus Tap & Pay, an upcoming Android mobile app that enables people to make contactless payments with Bitcoin and Ethereum at any merchant with a compatible device, has raised more than $1 million in funding in nine days.

The new venture was initially touted by the cryptocurrency tabloid as "one of the most anticipated Bitcoin projects of 2016," with more than 1,000 people participating in the crowdfunding campaign. In addition, the company said that more than 4,532 people have signed up to register for the app. "The community response has been immediate and huge," said Plutus CEO Philip Martinca in a press release.

The company believes that Tap & Pay solves a major barrier to widespread adoption of alternative payment methods: merchant adoption. Because with Plutus, customers don’t have to wait or worry about whether a merchant will directly accept Bitcoin or Ethereum.

Plutus is not the only company trying to bring digital currencies, especially Bitcoin and Ethereum, into mainstream payment methods. Earlier this week, Coinbase, a company that only supports Bitcoin payments , announced that it had finally added Ethereum site support, allowing for peer-to-peer contracts.

Coinbase caters to both professional forex traders and regular consumers. And, supporting all-currency means a lot of action for Ethereum. Coinbase makes Bitcoin trading easy for customers, provides a simple interface for users to trade Bitcoin, and is trusted by the masses by being open to both the tech elite and the general public. Now the same is true for Ethereum, which will operate in the same way as Bitcoin . This spring, Coinbase co-founder Fred Ersam wrote a blog post in which he stated that Ethereum is at the forefront of digital currencies. Since then, Coinbase has been increasingly supporting Ethereum. At the time of this favorable blog post, Coinbase added support for Ethereum trading to GDAX, a virtual currency exchange.