QuickCoin app lets users send bitcoin through Facebook

If youre intrigued by Bitcoin but daunted by how transactions work, theres an app for thatand its on Facebook.

QuickCoin lets users move the cryptocurrency around for free through the social network. Its a simple process of logging into an account, choosing a Facebook friend and sending bitcoin.

The accounts, called social wallets, display bitcoin in U.S. dollars and in bits, which are defined as 0.000001 bitcoin. That means US$5 would show up as roughly 8,548 bits instead of a fraction of one bitcoin.

One bitcoin was worth about $583 on Tuesday, according to CoinDesks Bitcoin tracking index.

The app is designed to work on any device or platform and is being positioned as a way of simplifying Bitcoin for mainstream adoption since Facebook claims 1.28 billion active monthly users.

You dont need to know how DNS works to surf the internet, so why should you have to know how Bitcoin works to use Bitcoin? QuickCoin cofounder Marshall Hayner said in an online chat.

The answer is clear: you shouldnt have to. We realized if we could make something that makes sense for everyone to use, we could reach a large audience with an amazing world-changing technology, and thats what we seek to do.

The app is using Facebooks API (application programming interface) and does not require the social media companys approval, according to Hayner. Its has been running for about a week and Facebook has not contacted the company so far.

Facebook did not immediately respond to a request for comment.

QuickCoin is a self-funded San Francisco-based startup thats being advised by Jackson Palmer, the creator of cryptocurrency Dogecoin.

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QuickCoin app lets users send bitcoin through Facebook