Introducing DropBit — Coin Ninja’s New Mobile Bitcoin Wallet
As Vitalik alludes to, there is still opportunity to improve the process by which people can get their first Bitcoin.

Let’s say you had a friend who was interested in Bitcoin, and you wanted to send them $10 worth of Bitcoin to get started. While this is simple to conceptualize for experienced crypto users, there’s still quite a barrier with the multiple, unfamiliar steps which sit in the way of that friend being ready to receive that $10 in Bitcoin.

It’s likely that most people, particularly in the U.S., would go to Coinbase to get started. And while we think Coinbase is great, and ultimately important to the overall success of the industry, there’s still a multi-step process to set up an account, verify the account, link and verify a bank account and figure out the app experience…all before you can be ready to buy, send or receive Bitcoin. In fact it’s 6 steps. The uncertain apprehension of new users (Am I doing this right? Is this safe and secure?) further complicates the entry process.

While Coinbase does truly offer a streamlined experience to start purchasing and selling Bitcoin, receiving Bitcoin from say a friend or employer should be a faster, simpler and involve less friction. Coinbase is not the best user experience for those who want to simply send and receive say $10 in Bitcoin, especially if it’s their first $10 worth of BTC.

The Solution is the DropBit Mobile Wallet

We aspired to create a send/receive experience that operates as easily as sending a text message — and that’s exactly what we did.

One’s motivation to finish a task is elevated when there is a tangible reward at the completion of the task. In this case, downloading and setting up our wallet, (which is simply writing down recovery words and verifying a phone number) is all that is required to access the Bitcoin sent to their new DropBit wallet.

With DropBit, all you need is the contact list, already in your phone, and you can send someone their first amount of Bitcoin. You don’t need the recipient to have a Bitcoin address, or have their wallet already established. While the app is called DropBit, we call this process of sending to a new user via SMS ‘sending a DropBit’.
['Coin Ninja']
['Bitcoin', 'Apps', 'Btc', 'Mobile Wallets', 'Cryptocurrency']