The Bitcoin Foundation would like to welcome new Gold Member, Circle! Circle is a digital currency company founded by Internet entrepreneur Jeremy Allaire, and backed by world-leading venture capital investors Jim Breyer, Accel Partners and General Catalyst Partners. With corporate headquarters in Boston, Mass. and International headquarters in Dublin, Ireland, Circle is building products that […]
Since my last update at the end of June, the core development team produced two minor bug-fix releases while working towards a major 0.9 release. We’ve reviewed and closed over 300 pull requests, which range from correcting the spelling of a word in a comment to major new features like the payment protocol. I’ll highlight […]
Update Nov 15th, 2013: Apple has removed our app from the app store. We respect their decision, and will continue working with them toward acceptance of bitcoin apps in the future.
We’re excited to announce our iOS app is now available on the App Store!
To protect your Coinbase account you can set a pin code in the app, and even remotely disable access if you phone is ever lost or stolen.
Give it a try and let us know what you think!
We’ve gotten a lot of requests to extend our referral program to our send bitcoin via email feature. We agree and think that sending someone some bitcoin to their email address is the best way to refer someone new to Bitcoin. So, starting today, if you send bitcoin to someone new via email, you will get a $5 referral bonus if they create an account and end up buying or selling at least one bitcoin.
The referral bonus is double-sided, so both you and the user you referred get $5 worth of bitcoin when they activate their account and buy or sell at least one bitcoin.
We’re big fans of reddit, and have long wanted an easy way to send people bitcoin “tips” through the site. When someone makes a particularly educational/funny/awesome comment, it would be great to send them a tiny amount of bitcoin – both to reward them and help spread awareness about bitcoin.
Luckily, Coinbase’s free micro-transactions make this possible. We spent some time thinking about how to make the process as simple as possible for people new to bitcoin, since this would be key to adoption outside of the main bitcoin sub-reddit.
Matt Corallo helped us out last week by putting together a Chrome Extension that brings it all together. You can install it by clicking here.
The extension adds a small “give bitcoin” link next to posts and comments when you visit reddit.
Try clicking a link and it will ask you to authenticate with your Coinbase account (or sign up if you don’t have one).
Once you’ve signed in you can now send bitcoin tips on reddit!
The recipient will get a private message on Reddit with a link to claim their funds the first time they receive a tip. Future tips will flow right into their Coinbase account (so they won’t get spammed with messages for every tip).
Any tips you send which go unclaimed will be returned to your account automatically after 60 days.
The Coinbase plugins for Magento and ZenCart are now available! Magento and ZenCart are the two most popular shopping cart plugins on the web, powering over 50,000 active online stores. It’s now super easy for these stores to accept bitcoin with no fees on their first $1,000,000 in payment processing and no code to write. Setup is super simple as well; first, copy the plugin files into your website root. Then open your administration console and follow the instructions to connect a Coinbase account:
The plugin will only be able to access merchant tools, preventing access to any bitcoin inside your account. After setup, ‘Bitcoin’ will appear as an option for your customers checking out! Checkout is super easy with two click checkout for over 300,000 Coinbase users.
Firebase launched an awesome embeddable Bitcoin price ticker today, powered by the Coinbase API.
Head on over to BTCQuote.com to check it out.
This is a great way to embed the current price in your website or news article if your readers have an interest in the current bitcoin price.
And it’s a great example of what can be done by the community when you have an open api.
If you’re a developer and haven’t heard of Firebase, check them out – we keep hearing their name from various developers we meet here in San Francisco.
- Bitcoin is great for reducing transaction fees. In two sided marketplaces like Etsy, eBay, and Airbnb, transaction fees are paid twice (once to collect funds from the consumer, once to pay out the merchant). This often brings the all-in cost towards ~6% depending on the payment methods used. The marketplace also takes their cut, which is typically 3.5%-5% of the sale. Here, payments go directly from the customer’s wallet to the merchant’s wallet with no middlemen whatsoever, saving 10% on every sale! One can imagine more distributed marketplaces like this where the listing and the payments are completely decoupled.
- Bitcoin is great in that it eliminates chargeback risk on the merchant side because Bitcoin payments are irreversible by nature. This allows the merchant to be confident in shipping goods because they know they have received payment.
- Since there are no chargebacks, the consumer then must be confident in the merchant they are paying. A marketplace which has reputation of merchants built in (as Bitdazzle does), especially when consumers are dealing with smaller merchants, is a fundamental building block that will become increasingly popular in digital currency.
- There are already over 1,000 merchants on Bitdazzle.
- It lets any small business owner easily list their goods for sale in Bitcoin!
We recently hit 300,000 users on Coinbase, a 50% increase from the 200,000 users that we reached back in August 1st. Later that month we announced our need to grow our internal customer support team and it’s become evident that in order to build the best customer service for our Coinbase customers that we need to scour the world to find the best. As a result, we’re building a remote customer support team to accommodate our growing user base.
If you’re interested in joining our team, we’ve devised a test that is aimed at identifying those olympian, problem-solving and quick-thinking qualities. As we’re looking for the best, we’ll be interviewing only the top 5% of applicants and looking to hire in the next week. If you believe you have what it takes, upload your resume here and you can take the test here.
We’ve had an excellent referral program for a little while. Coinbase customers can share a link with friends, and get $5 worth of Bitcoin when those friends create an account that buys or sells at least one bitcoin.
One exciting addition to this that we just launched is the ability to earn referral credits through the API. Now when your app creates a new user or sends money via the API, you can include a
referrer_id parameter. This will give you credit just like our regular referral program, allowing you to earn free bitcoin if that user buys or sells bitcoin at least one bitcoin at any point in the future.
We’re excited to see what new apps people can create with this built in monetization strategy, especially when combined with our micro-transactions. (Bitcoin faucet 2.0 anyone?) Now you can make money spreading bitcoin to the world.