[ANN] BitDrive - Online Bitcoin Wallet and Merchant Services

[bitnanigans]

Hey everyone,

We're announcing BitDrive, a service we've been working on for a while now. It is an online Bitcoin wallet and a way to accept Bitcoin payments directly. It's currently in open beta, and we're accepting new sign ups at the moment. All transactions are performed on-chain.

You can access BitDrive at https://www.bitdrive.io

Basic Wallet
Creating a basic wallet is very simple and it's completely free. All that's required is to get started is your email address and a password. We enforce 2FA authentication on all accounts using the email address. We are considering enabling dual 2FA using email and SMS text messages to your phone.

HD and Multisignature?
We are hard at work on this and intend to add these features within the next month or two.

Merchant services?
We charge a one-time fee of 20BTC for access to our merchant service. We do not charge any fees for subsequent payments. We also provide an Instant Payment Notification service for sending notifications to a configured URL once payments have been completed.

Why use our merchant service?
We do not require any verification to get started accepting Bitcoin payments. Just input all the required information after paying for your merchant account and copy the simple integration code to get started. All payments are forwarded directly to the merchant's configured Bitcoin address, and we do not retain any of the funds. Note that direct payments (without a BitDrive account) will still require the usual miner's fee (0.0001BTC) to be paid, so you would need to factor this into your pricing. If a payment is made through a user's BitDrive account, the miner's fee will be paid by the buyer.

Do we deal with fiat?
No, we not have any plans to deal with fiat at this time, nor in the near future.

We're open to your suggestions and feedback, so feel free to reply here or email us: hello@bitdrive.io

[Amph]

is this is this something like coinbase? it seems so, from your points but i want to be sure

and why 20btc, it seems too high, is that the standard?(coinbase did that too)?

[bitnanigans]

is this is this something like coinbase? it seems so, from your points but i want to be sure

and why 20btc, it seems too high, is that the standard?(coinbase did that too)?

It is similar to Coinbase, except that we do not retain your funds, so the payment is made directly to your configured Bitcoin address. Hence, you will be able to make use of your bitcoins immediately from any sale you've made. We also do not convert the BTC to fiat currencies. We also do not sell Bitcoin directly.

We believe 20BTC is a fair amount, as it prevents just anyone from signing up for a merchant account. Since there is a high barrier of entry, we believe it would be a deterrent to scammers and the like, since it would be in the merchant's best interest to provide good consistent service.

Unlike Coinbase, we do not track the source of your coins or what you do with spending your coins, so you're free to use your bitcoins for any transaction within reason.

[bitnanigans]

The Help Centre has been updated with integration information for merchants.

https://www.bitdrive.io/help/merchant-services/6-introduction