“When an average person uses the Bitcoin, they should be able to use it without really noticing that they are using it. All the more the person shouldn’t notice anything about the complicated process in the background.”
The company will initially only integrate the plugin on Facebook and hopes that the Bitcoin will spread rapidly in the social network. However, there are already plans for further partnerships. Marshall Hayner, co-founder of the company, says QuickCoin’s primary goal is to take the complexity out of Bitcoin transfers:
“When an average person uses the Bitcoin, they should be able to use it without really noticing that they are using it. The person shouldn’t even notice the complicated process in the background.”
Keep Cryptosoft simple
QuickCoin is quite simply knitted. The user only sees the following options on the cryptosoft interface optimized for mobile devices: “Send Bitcoin”, “Receive Bitcoin”, “Logout”, and “Unlike Account”. To make it as easy as possible for the new users the cryptosoft wallet shows the current account balance in Fiat currency (USD/EUR etc.) and “bits”. Thus the users are not deterred at the same time by the high price per Bitcoin.
“I hear more and more often that people say they can’t get into Bitcoin because the price is much too high. The Bitcoin is divisible into very small amounts. People don’t have to buy a “whole” Bitcoin,” says Hayner.
The smallest Bitcoin amount is 0.00000001 BTC – this unit is also called “Satoshi”. One bit is worth 0.000001 BTC. That is approx. 0.00058 USD Dollar at today’s rate. So 1,000 bits are about 58 cents.
How does QuickCoin work?
If you want to use the Social Wallet, you only have to register for the service with your Facebook login data. The system then creates a list with the contacts to which the user can send BTC – even if the friends have not registered for the service. To load BTC credit into his wallet, the user must click on “Receive Bitcoin” and he will immediately receive a QR code with the wallet address. He can then send BTC to this address and load his wallet. With the “Send Bitcoin” button the user can easily send BTC to any address. When BTC is sent to a Facebook user, a corresponding message appears in the recipient’s chronicle.
Facebook as the starting platform
Hayner says the integration of a Facebook-based social wallet is the best starting point. This step makes sense when you consider that the social network had more than 1.28 billion registered users in March. Nevertheless, Hayner says he and co-founders William Cotton and Nathan Lands have other plans:
“QuickCoin social Wallet is our first product. Facebook is just the beginning. We have plans for more amazing features and partnerships in the coming months.”
As Bitcoin technology is still in the early adaptor phase, it is important to get Bitcoin into as many hands as possible. For this reason the founders of QuickCoin have kept the service as simple as possible. QR Codes should only be used when absolutely necessary.
“Not everyone has the time to deal with the Bitcoin before using it,” says Hayner. “Many people surf the Internet today and most can’t tell you how DNS works, the same goes for the Bitcoin.