SEND AND RECEIVE BITCOIN VIA TEXT MESSAGE WITH DROPBIT

by birtanpublished on October 31, 2020

What's up crypto gang welcome back to another episode if you guys are doing here we do a giveaway at the beginning of every single episode and today's winner is Benji reom thanks so much for commenting on the previous video Benji reham come in with your Bitcoin wallet address and I will send you some crypto on this episode I'm going to be reviewing drop it by coin ninja so full disclaimer this is a sponsored review but I do not review anything on the channel that I am not fundamentally in full agreement with and a lot of the concepts that I've been covering over the past couple of months

Have been around mass adoption and the user experience and getting involved in Bitcoin and crypto I've talked about a few things on the channel in the past like unstoppable domains that are basically working entirely on the user experience of helping new users come into this space simplifying the way that you can get in and transact is a key fundamental for reaching mass adoption I connected with the droppeth team I was definitely sold on the fact that they are very much helping the design and the user experience of having newcomers get involved in the cryptocurrency space the

Core concept is that as a basic send and receive Bitcoin wallet that is strictly to your mobile device on iOS and Android but the clever twist they have added to the wallet is it it is done via SMS so literally all you need is a contact in your cell phone and you can send someone at their first Bitcoin this question that I get when I review various different types of wallets is the custodian question so drop it allows you to control the private keys when you are initially downloading the app you actually have see phrases that you write down and keep separate somewhere stored

Safely so that you can backup your wallet whenever you need to if you as the viewer wrote down your phone number and it was a contact in my phone I could send you your first Bitcoin it would send you a quick little text that said Steve has this mini Bitcoin waiting for you all you have to do is download the app write down your seat phrases and you can claim your Bitcoin you would click a link and then boom you would have the Bitcoin in your wallet I'm super bullish on wallets like this because it is allowing this network effect of me and all the contacts in my phone to quickly

Transact very similar to a PayPal experience so what I want to do for this review is show their overview and their demo video and then I want to walk through the four steps that it takes to very simply send someone their first Bitcoin using their cellphone number so without further ado let's dive right into their overview video and then my walk through the four steps real quick I wanted to go through the four steps so Bob wants to send Mary

Point five Bitcoin she doesn't have a Bitcoin address or wallet yet but he has her phone number in his contact list he selects her from the drop in app and sends a drop bit of 0.5 Bitcoin to her the Bitcoin address request is saved on the drop bit server step 2 a text message is sent to Mary that says that half a Bitcoin is waiting for her from Bob's phone number she has 24 hours to install the drop bit app and verify her phone number a third step Mary receives Bob's request for a Bitcoin address from the server and fulfills request by sending a Bitcoin address from her

Wallet up to the complete Bob's request the fourth and final step Bob gets a message that Mary is set up to receive Bitcoin and has an address waiting for his half a Bitcoin Bob opens drop-it app and then the transaction is sent directly from his wallet to her wallet so it's basically using cell phone numbers to send notifications back and forth so that you can properly send the Bitcoin transaction to each other especially when someone's brand-new to the space that is it for my overview drop it I hope you guys liked it if you did don't forget to slap it like I'm

Gonna be putting all the links below so you guys can get a chance to read more about drop a bit and about coin injure the people that are actually powering drop it and you can get a chance to try it out and I've been trying it out for the past couple of days it's a lot of fun and always getting into products as a beta user for me is something I'm always passionate about it for this episode if you liked it slap a like if you guys are new here don't forget to subscribe and I will see you on the next episode of hack crypto

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