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Fold · 2024

Receiving Bitcoin

External Bitcoin deposits into Fold wallets

The Bitcoin Flywheel

Deposit bitcoin from anywhere. Receiving Bitcoin let users move bitcoin from external wallets into Fold—turning Fold from a closed rewards system into a real bitcoin wallet.


What I Built

Deposit address generation flow - Designed the UX for generating and displaying deposit addresses. Key decisions included showing QR codes for easy mobile-to-mobile transfers, copy-to-clipboard functionality, and clear confirmation messaging when deposits arrive.

Transaction status tracking - Bitcoin transactions require network confirmations before they're final. Built the status UI showing pending, confirming, and completed states so users always knew where their deposit stood.

Custodian coordination - Worked with our bitcoin custodian partner to implement the deposit infrastructure. This involved API integration, security requirements, and transaction monitoring.


Key Product Decision

The big question was whether to support Lightning Network deposits (instant, low-fee) or only on-chain deposits (slower, higher fees but more universal). We launched with on-chain only. Why? Our target users were moving bitcoin from exchanges like Coinbase and Kraken, which primarily support on-chain withdrawals. Lightning would have added complexity for a use case most of our users didn't have yet.


Skills

Product ownership, technical coordination, UX design, fintech execution