Sean Neville, the co-founder of Circle, a notable cryptocurrency payment business, believes that the best way to take bitcoin mainstream is to make customers forget about it at all, writes.


The company's target audience consists of those who want to use the technology to pay for goods and services and “think in terms of euros and dollars” rather than “early adopters” who are interested in bitcoin as an asset, Neville revealed in an interview to the B2B platform. According to him, the mainstream acceptance of bitcoin can be similar to the chip-and-pin technology where the user never has to think about the process of tokenization behind the payment.

To bridge the gap between the early adoption and mainstream phases and to promote bitcoin, Circle was giving 0.022 BTC (about $10) to anyone who signed up during the beta period of the website in July 2014. Even then, Circle claimed that its strategy was focused on “normal money.” At the time, Circle likened the bitcoin technology to TCP/IP protocols, which allow users to browse the internet and send emails without understanding how they work.

Apparently, Neville's philosophy follows the strategy proposed by Daniel Krawisz – the founder and Director of Research of the Satoshi Nakamoto Institute and libertarian activist.  He suggests that entrepreneurs “should be less interested in making money than in making bitcoins into money”. “An entrepreneur who follows that precept should generally be expected to be more successful than otherwise because the potential for Bitcoin itself is so much greater than any Bitcoin business he could invest in,” Krawisz explains.

To attract the mainstream public, Circle has adopted 100% insurance of bitcoin accounts from theft that covers the full deposit value. Although such insurance offers are still quite rare among bitcoin companies, Circle is not unique in that respect. The payment operator Coinbase had its online wallets insured against theft or hacking since November 2013. Xapo claims that the bitcoins stored in their vault are fully insured too.


In January 2015, Circle launched a new Android-based bitcoin wallet that supports NFC payments. However, Neville stated that Circle doesn't consider itself a bitcoin company although he admitted that the company's apps are “Bitcoin-centric”. The aim of Circle is to provide users with fast, secure, no-fee global payment services, according to Neville.