In what is being dubbed the Venmo of the crypto payment world, Coin Ninja has launched its long-awaited DropBit app. The app allows users to instantly text Bitcoin to friends, family, and just about anyone else in on a contact list. Its aim is to make crypto more accessible to the world and drive forward mass adoption. You can’t buy and sell Bitcoin on the app, but it makes sending Bitcoin to other people easier than ever before.
Sending Bitcoin to Anyone
You can send Bitcoin to anyone on the planet who has a mobile phone – something that was once thought to be impossible. All you have to do is select how much crypto you want to send, put in their mobile number, and hit send. If they don’t have the DropBit app then they will receive a text message saying the Bitcoin is waiting for them. All they have to do is download the app and verify their mobile number, then they can freely claim the sent Bitcoin.
Deposit Your Bitcoin
You can deposit your Bitcoin into your new DropBit account with an automatically created QR code. Once the transaction has been verified by the Bitcoin network, the Bitcoin will be credited to your account. Alternatively, you can send Bitcoin to your wallet via SMS from someone else who already has the app – but be careful about buying Bitcoin from your friends.
Bitcoin Payments Becoming Super Simple
Bitcoin payments are becoming easier and easier to make and developers aren’t done creating new ways to put through a payment. One developer by the name of Pierre Rochard has created a plugin for Excel that lets you send and receive Bitcoin payments using the Lightning Network. All of these payments can then be configured to automatically update financial records, making tracking your crypto payments easier and tax season a breeze.
Square Joining the Action
Square has millions of merchant accounts all around the globe, and it has just rolled out its new POS machine to these accounts. Built into this merchant POS terminal is the ability to accept cryptos, meaning crypto payments are becoming more realistic and – at least on paper – mass adoption feels closer. With Square making spending cryptos as simple as scanning a QR code, we can safely say the future is here.
DropBit is set to launch Lightning Network capabilities in the new few months, making payments between accounts faster and cheaper. Currently, it doesn’t charge for transactions – only the mining fees – but once the Lightning Network implementation goes live, these fees will fall even further.
What are you waiting for? Head over to the app store and start sending Bitcoin to your friends and family today!