Facebook Wallet now allows users to send and receive bitcoin instantly

Bitcoin has finally made it into Facebook Inc.’s (NASDAQ:FB) Wallet. A new startup app called Quickcoin has found a way to transfer Bitcoin, by following a few simple steps. Bitcoin is a popular choice for many people, who want to conduct transactions on the internet, but has not become fully transferable.

Quickcoin hopes to change this by making a U.S. dollar valuation that can be easily sent to other people. The process that Quickcoin has come up with, allows users to log in, and transfer Bitcoin to any friend, that they select. As part of this, their Quickcoin Wallet values $5 as 8,458 bits. Bitcoin itself is valued at $583, per the latest tracking index valuation.

The idea behind this is to promote a more general use of Bitcoin. Quickcoin has launched the new service on Facebook, as it offers the largest global access to people, with a total of over 1.28 billion monthly active users. Quickcoin is not going to stop there however, as it has already stated that it intends to promote this new service on other social media websites in the future. The founder of Quickcoin, Marshall Hayner, said that “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.”

Quickcoin is currently running on Facebook’s Application Programming Interface and charges a $0.05 fee per transaction. Facebook itself has not said whether it approves, or disapproves, of the new service, but by not taking a position on this issue, it has already implied its consent. Until now, Facebook has not contacted Quickcoin with any comment on the service.