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Bitcoin-Powered Mobile App BitMaker Amasses 250, 000 Users

Bitcoin-Powered Mobile App BitMaker Amasses 250, 000 Users

Overheen the past duo of years, a Bitcoin-powered mobile application developed by Seattle-based blockchain adtech and payments company CakeCodes has calmly amassed 250,000 active monthly users. The Android app BitMaker incentivizes users to engage with other mobile applications, such spil freemium games, te an effort to get the user to download the app. BitMaker users are rewarded for attempting out the apps and packing out forms found on traditional survey sites, with payouts made ter either bitcoin or ether.

Bitcoin Tijdschrift recently reached out to CakeCodes CEO Simon Yu to get more details on BitMaker’s success, how this Android app works, why they use bitcoin and how they project to expand their operations te the future.

How Does It Work?

The point of BitMaker is to get users to attempt out other mobile applications or pack out forms for free trials of various products or services. It’s sort of a form of advertising where the viewer of the ad also gets paid te the process, which is something Plucky is working on with their Bitcoin-enabled browser spil well.

When tasks are finished te BitMaker, users are rewarded with in-app tokens known spil Blocks. Thesis “Blocks” can then be converted into bitcoin or ether once a certain threshold has bot met.

Users are able to view an engaging advertisement once every 30 minutes, for which they are paid harshly $0.002 worth of Blocks. One of the advertisements tested by Bitcoin Tv-programma wasgoed more of a quick trial of a mobile spel rather than a promotional movie that is simply observed.

Ter addition to the simpler advertisements, there are standalone tasks that involve a bit more work, such spil downloading a freemium spel or signing up for a free trial of Hooked on Phonics. Thesis tasks can pay out more than a duo of dollars’ worth of Blocks each.

“Traditional advertising methods include pushing unsolicited ads onto people,” said Yu. “We wished to combat this by providing consumers the option to opt ter and get paid for their time used on attempting a fresh product. With BitMaker, end users get paid, businesses only pay upon engagement, and customer acquisition costs are dramatically decreased. Everyone wins. What we’ve done is create a ordinary, joy way for consumers to be rewarded for attempting cool fresh products.”

“We are able to understand what the customer needs because we’re also the audience: our team is made of app developers and gamers,” said Calvin Hsieh, who is the founder and CTO of CakeCodes. “That’s why wij crafted our app based off the mechanisms behind popular role-playing games, including World of Warcraft and Final Fantasy. While playing, gamers are rewarded for completing a mission for items like digital swords or in-game gold. Wij made this practice tangible by tying it to the real world, when a user completes a mission on our app, they receive real money. After 700,000 installs, wij are proud to state that our business proefje works.”

Payouts Made via Bitcoin and Ethereum

Of course, BitMaker is not the very first toneel that permits people to get paid for essentially signing up for free trials of products or services. Thesis sorts of survey sites have existed since the early days of the internet.

The key difference here is the concentrate on Bitcoin across the application. Te fact, BitMaker’s logo indeed isn’t much different from the classic orange-and-white Bitcoin logo.

“Bitcoin and cryptocurrency are more titillating to attain than a $1 bounty card, which you just pick up at the store next voort,” said Yu when asked why BitMaker does not use bounty cards for payouts, which are a common choice on other similar platforms. “The titillating part about bitcoin is that it could triple te a month, it’s like possessing a chunk of stock and there’s a thrill opzicht.”

The concentrate on the excitement around the bitcoin price ter the app is real. Users will sometimes receive notifications on their phone about the price of bitcoin or ether from the app.

“For people not familiar with crypto, there’s generally two ways to acquire bitcoins, which is to mine (too complicated for the average person) or risk your money buying it,” Yu continued. “But the average person who isn’t familiar oftentimes associates Bitcoin with either Silk Road or exchanges being hacked and don’t want to risk their money. BitMaker permits anyone to attempt earning their very first bitcoin through us, risk free.”

Yu added that the BitMaker business monster also wouldn’t work on traditional payment spoorlijn. “As wij are a micro-payments business, utilizing blockchain technology enables us to pay almost no fees for sending 15,000+ payments around the world a week,” Yu said. “With PayPal or a standard medium it’d cost us a $0.30 transaction toverfee te addition to a percentage point on each transaction. If wij did this, wij wouldn’t have a business monster.”

According to the BitMaker webstek, the app has paid out overheen 215 bitcoin and 34 ether up to this point. This amounts to overheen $275,000 worth of payouts at current exchange rates.

There are four total payout options available on BitMaker right now: Bitcoin, Coinbase, Xapo and Ethereum. Due to enhanced U.S. dollar denominated transaction fees on the Bitcoin network overheen the past year, Coinbase, Xapo and Ethereum withdrawals can be made at lower thresholds.

Passing on an ICO for Traditional Equity Crowdfunding

According to Yu, CakeCodes has not closed the onderbrak on an ICO yet, but he also pointed out some potential drawbacks associated with that particular specimen.

“Although ICOs seem to be the more popular way to attain startup capital for blockchain companies, we’ve seen what happened to the companies who didn’t raise enough capital from an unsuccessful ICO,” Yu said. “There’s a big risk of having our token out there and not being able to raise future rounds if wij don’t succeed. Our vision is to disrupt advertising the way Airbnb disrupted hotels, wij permit users to be paid for their time spent on viewing ads. Wij made this decision to waterput us ter a better position for the future.”

CakeCodes intends to use the money from the Wefunder campaign to increase user growth, rapid track development for an iOS app and add fresh features to the Android app.

Update: On April 28, a CakeCodes representative alerted us to an SEC request to liquidate the launch date from the Wefunder webpagina. This article has also since eliminated the verbinding to the campaign.

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