What is DropBit?
DropBit is a mobile Bitcoin wallet and is the simplest way to send Bitcoin. You can download the wallet in the
iOS and Google Play stores, or by clicking here
What can DropBit do?
- 1. Recover your wallet by importing a 12 recovery words.
- 2. Show details of all of your ingoing/outgoing transactions
- 3. Use your device's camera to scan addresses in QR code
- 4 .Send Bitcoin to contacts in your phone, even if they don’t yet have a Bitcoin wallet
Do you provide any public source?
No, DropBit is not open source. We may open it up in the future.
Is DropBit an HD wallet?
Yes, DropBit is an HD (or "hierarchical deterministic") wallet. That means a new, unique address will be generated
every time you send or receive funds, which makes your transactions harder to track, keeping your financial business
yours. There’s no need to back up each address separately, each of them can always be restored using your wallet’s
12 recovery words. All addresses generated from the same wallet can be used to receive funds, and all funds
sent to any of these addresses will show up in your balance. The balance you see on your main wallet screens represent
the total sum between those addresses.
How to send/receive Bitcoin in DropBit?
Via Address or QR Code
In order to receive coins from any other address you should provide your public address to the sender. To do so, you need to tap the “receive” button.
There you will see a QR code, which you can show to the sender if they have a QR scanner. Otherwise, you can
copy the address by tapping on it. You may also tap “share” to send your public address via other applications
such as Mail, WhatsApp, Signal, etc.
You can also also can specify the exact amount that you want to receive by clicking “Add Amount”, but thisit works only with a QR scanner.
DropBit also allows people to receive Bitcoin via SMS, which is unique to our app. Here are the steps:
- 1. If someone with the DropBit app sends Bitcoin to a contact (mobile phone number), the recipient will receive a notification.
- 2. If the recipient does not yet have the DropBit app, the recipient will be notified that they have just been sent Bitcoin via SMS. They will then have 24 hours to install the DropBit app and set up their wallet to retrieve their Bitcoin.
- 3. If the recipient already has the DropBit app, they will receive an in-app notification that they have received Bitcoin.
- 4. Upon successful setup of a wallet, the sender will be notified and will be given a prompt to complete the send.
- 5. If the recipient does not install a wallet within 24 hours of receiving the notification the funds are never transmitted and remain safely in your DropBit wallet.
Why should I verify the phone number tied to my wallet?
If you don’t verify your phone number, you can not receive Bitcoin via SMS. However, you can send and receive Bitcoin via addresses, as you normally would, without verifying your phone number.
How do I verify the phone number tied to my wallet?
In the side menu, located in the upper left corner of the app, there is a "Settings" icon. Tap here to verify the phone number associated with your wallet.
How do I change the phone number tied to my wallet?
You can’t change your phone number tied to the wallet directly. You can delete the app and restore the wallet on a new device with a new phone number using your recovery words seed words to restore your wallet.
Can I verify / check the status of my transactions?
- Yes, you can. You can either tap the side menu and select the "History" icon, or simply tap your balance in the upper-right
corner of the screen. Both actions will take you to your transaction history screen.
- Tap on any individual transaction to see more details about that specific transaction.
- Tap the Bitcoin address link (in light blue) to be taken from our DropBit app to
Coin Ninja block explorer. This will allow you to see details about that specific transaction block.
How many confirmations does DropBit require before a transaction is spendable?
- A transaction has one (1) confirmation when it is included in a block (mined). Each subsequent block is additional confirmation.
- DropBit allows you to spend funds once they are included in a block (one confirmation).
- A transaction with three (3) confirmations is considered “Confirmed”
- Once a transaction is confirmed, it will show Confirmed. This lets you know that the Bitcoin has been transferred successfully.
I lost access to my wallet, and did not write down my Recovery Words. Can I get my wallet back?
If you did not import your DropBit wallet on any other device and you did not save a copy of your recovery words,
you have lost access to your wallet.
This is why it is critical to write down and store safely your recovery words.
I forgot my PIN, what can I do?
If you know your recovery words, you can delete DropBit application and download it again. Then, in newly downloaded
app you import your key words and create new PIN code. If you haven’t written down your 12-recovery words, unfortunately,
you will lose access to your funds.
How can I view my private keys?
Right now, we do not show private keys in the application. But you can always use your recovery words to recover
What do you do with the contacts on my phone?
We do not store any of your contacts on our server. Instead, during the phone number verification process, DropBit
sends us a cryptographic hash of your phone number. This hash is used for contact discovery. When a DropBit
user attempts to send via phone number, that number is also hashed and our server will inform the app if the recipient
is a DropBit user. Thus, your contacts remain safely on your phone and our servers never see contact details
unless an invitation via SMS is required.
Why doesn’t DropBit require any registration?
There is no need for any personal information such as names, emails, and phone numbers due to the fact that we do
not keep any users’ information, including their private keys. The only thing you must know is you 12 recovery words. These words are securely generated on your device and are never sent to our servers. The recovery words allows
you to restore your wallet on any other device at any time. Even if DropBit, as a company, doesn’t exist you
will be able to restore your wallet in any other wallet based on the same technology.
Does DropBit wallet support Sewgit?
Yes. We can send to any address type supported by libbitcoin. However our wallet will only generate Segwit receive
Does DropBit wallet support Bech32?
Bech32 is a segwit address format specified by BIP 0173. This address format is also known as "bc1 addresses".
Bc1 (bech32) addresses are not yet supported ....though they will soon be supported.
Does DropBit wallet support Lightning Network transactions?
Not yet, but we are working toward supporting this very soon.
Do you have resources that I can use to send bitcoin newbies to learn more about Bitcoin?
What are the DropBit transaction fees?
- Transaction fees are inherent to the Bitcoin Blockchain network.
- DropBit does not charge any fees to send and receive Bitcoin.
- For transaction fees that are inherent to the Bitcoin Blockchain network fees, we use a proprietary algorithm
of ‘fastest transaction’ to calculate the fee used for the transaction.
- Soon, the wallet will allow for users to select higher/lower fees based on desired transaction speed.
What fee should I choose for Bitcoin transaction?
At this time, DropBit does not allow users to set or select different fees and transaction times. We plan to add
feature in the near future.