Category: Bitcoin

Coinbase Buy Widget

Coinbase was founded in June 2012. Coinbase is a bitcoin wallet and platform where merchants and consumers can transact with the digital currency bitcoin. They are based in San Francisco, California.

As digital currency evolves one of the problems developers hear often is how hard it is to find users with access to bitcoin.

Coinbase set out to find a solution to the problem and they came up with Coinbase Buy Widget.

Coinbase Widget

The Buy Widget is an easily embeddable and configurable hosted widget that delivers three key features:

– allows users to purchase bitcoin using debit cards
– instantly delivers bitcoin to an address specified by the user or the application
– a butter-smooth user experience

How does the Buy Widget improve the buying experience at Coinbase.com?

Without ever leaving the developer application, users can get bitcoin delivered directly into the address provided by the app. For new users, the Buy Widget flow features a very familiar debit card form and a seamless way to create a Coinbase account. For existing Coinbase customers, the purchase can be completed with as few as just 3 steps.

Developers who want their users to buy bitcoin into their apps can now do it with just a couple of lines of code instead of a full blown OAuth integration.

The Coinbase Buy Widget offers newcomers to bitcoin an easy way to try out more applications, helps developers grow their communities, and helps novel bitcoin use-cases flourish. You can learn more about how it works here.

Product Development Selected Partners

Brave Browser – Users can buy bitcoin to support their favorite web sites.

Brave Browser Conbase Wallet Use

Hammercoin – The makers of BitQuest bring you a new minecraft experience, powered by the bitcoin economy.

Hammercoin Uses Coinbase Widget

Popchest – A new monetization model for video producers: micropayments powered by Coinbase.

PopChest Using Coinbase Wallet

Open A Coinbase Digital Wallet – It’s Free

2016 - Create Account Button

The Advantages of Digital Currencies

Digital Currency Vision

Digital currency will impact the world in three main areas. This is what I got excited about when I first learned about bitcoin.

Innovation

Imagine if anyone who had an idea for a product could have
customers all over the world from day one.

Due to high friction of payments many good ideas never happen. It does not spread around the world as quickly. This is a major hurdle for launching a business.

In the future it should not matter if you’re a hot Silicon Valley startup, or a 16 year old African with a new idea. If you build something people want, it should be available to everyone on day one.

This goes for both sending and receiving payments – such as in a two sided marketplace.

Efficiency

Payments are slow and expensive with the current banking system.
Why does it take longer to wire money to Australia than to fly there?
Why do U.S. bank transfers take 3 business days and not work on weekends?
Why is there a 2-3% tax on almost every retail transaction in our economy (credit cards) when it is just moving bits from one data center to another.

Each country and payment company is running its own proprietary system (which doesn’t connect seamlessly with others). And the network effects of payments leads to monopolies or oligopolies in each market (which leads to stagnation)

Imagine if every payment in the world was as 
fast, cheap, and global as sending an email.

This would lead to an order of magnitude increase in the number payments sent each day, and the very definition of what a payment is could change.

Equality of Opportunity

About ⅓ of the world lives on less than $2 per day, but 90% of them don’t have access to a bank account.

When people don’t have the ability to save money, the smallest miscalculation or setback (theft, illness, seasonal changes) can be catastrophic.

Luckily, nearly 100% of the developing world now has a cell phone, and by 2020 about 85% of them will have a smartphone.

Imagine if anyone with a smartphone had access to the same 
financial services we enjoy in the developed world.

The traditional banking business model (earning interest on deposits) doesn’t work for people with very little money. Digital currency on smartphones will bring financial services to many people in the developing world, and will help level the playing field.

Digital currency will bring about more innovation, efficiency, and equality
of opportunity in the world by creating an open financial system.

Bitcoin In The News

Bitcoin

Bitcoin’s rise to mainstream status has been swifter than many of its critics would care to admit.
The blockchain technology that drives the bitcoin exchange is also fast evolving, a clear sign that market forces are beginning to dictate the cryptocurrency space.

This is good. The more and more people adopt the use of cryptocurrency the better for the industry and ultimately the higher the success rate of the technology.

What is Bitcoin
An online cryptocurrency that uses peer-to-peer technology to operate independently of centralized authority.
It has grown in popularity over the past six years as consumers, businesses and investors continue moving into the digital currency space.

According to estimates, the number of retailers accepting bitcoin surpassed 100,000 in 2015.
Some of the most well known companies to accept cryptocurrency payments include Microsoft, PayPal, Dell, Expedia and Wikipedia.

Recent Positive Feedback on Cryptocurrencies
– More consumers, businesses and investors continue to move into the digital currency space.
– Big banks like Barclays and Goldman Sachs are getting involved in cryptocurrencies and blockchain technology. 
– Bitcoin’s blockchain technology include helping unbanked populations access capital, increasing the free flow of financial transactions.
– Bitcoin blockchain technology can make it easier for landowners to record property titles in countries with dubious land-rights protections.

Bitcoin Advantages
– It’s a powerful technology that can potentially change the way societies interact with money.
– Bitcoin has the added benefit of greater speed and efficiency in facilitating payments and transfers.
– The blockchain technology also serves as a powerful and detailed ledger that can monitor all transactions in the network.

Bitcoin Pain Points
– Facilitating online criminal behaviour.
– Money laundering.
– Tax evasion.
– Fraud
All problems that are also evident in fiat currencies.

Long Term Bitcoin Success
Depends on addressing concerns related to:
– Scalability
– Platform development.
– Automated transactions.

As cryptocurrency continues to enter mainstream consciousness, its market will continue to expand.
According to analysts, exploring different use cases for the cryptocurrency is the next step in expanding the market.

For the more discerning bitcoin enthusiast, the real power lies not in bitcoin itself, but the blockchain technology driving it. That’s because blockchain allows people to know exactly what is happening in the digital world, serving as a verbatim record of every bitcoin transaction ever made.

For that reason, blockchain has been described by some tech gurus as the most important invention since the Internet.

The cryptocurrency is considered legal in the United States, European Union, Australia and Canada.

Also view: Meet The Future of Branded Currency

Bitcoin – Meet The Future of Branded Currency – Ted Talks

Currency! the bills and coins you carry in your wallet and in your bank account is founded on marketing, on the belief that banks and governments are trustworthy. Paul Kemp – Robertson walks us through a new generation of currency, supported by the same marketing. From Nike Sweat Points to bottles of Tide, meet the non-bank future of currencies.