QuickCoin, a startup based in San Francisco, has simplified the process of sending and receiving bitcoins through its social wallet by using online platforms like Facebook.
The new service, which initially banks on the social network’s established technology, is aimed at promoting the virtual currency and its uses without the complex concepts that alienate potential users from this innovation.
“If average people are going to adopt bitcoin, they have to be able to use it without even really knowing they are using bitcoin, or feeling like they are subjected to a complicated process,” said Marshall Hayner, co-founder of QuickCoin.
With the primary goal of making Bitcoin simple, this company has taken this virtual currency to Facebook, which has about 1.28 billion users as of March 2014.
Using the Facebook login details, users can access their QuickCoin social wallet. This service employs a straightforward interface that is optimized for mobile use, be it on a smartphone or a tablet, and provides only a few functions, namely ‘Send Bitcoin’, ‘Receive Bitcoin’, ‘Logout’, and ‘Unlink Account’.
Along with these functions, a complete list of Facebook contacts will become available on the interface, even if the contacts do not subscribe to the service. This enables social wallet users to transfer bitcoins in ‘bits’ or 0.000001 BTC to their contacts through the social networking site.
Meanwhile, the QuickCoin social wallet also allows users to receive funds from other sources through the QR code and wallet key provided. Likewise, they can transfer bitcoins to an external wallet through the ‘Send Bitcoin’ function.
According to Hayner, creating a social wallet to run on the Facebook platform appeared to be the most viable option for companies entering the Bitcoin industry. However, he, together with fellow co-founders Nathan Lands and William Cotton, has already planned to tap other services.
“QuickCoin Social Wallet is our first product,” he added. “Facebook is only the beginning, and we have plans for some amazing features and partnerships in the months to come.”
As this poses positive news for Bitcoin in general, the online gambling sector is also seeing optimism with this new invention. The number of Bitcoin mobile casinos is rising and so do the technology of transferring bitcoins through mobile devices.
Therefore, with the integration of new Bitcoin services like the QuickCoin social wallet, avid Bitcoin casino bettors, who are always on the go, can send deposits to a mobile Bitcoin casino like Satoshi8 then receive payouts right back to their social wallet.