Bitcoin Rewards Platform Carrot Hits Record Growth With Magic Authentication

Micky Teng · May 17, 2021
Bitcoin Rewards Platform Carrot Hits Record Growth With Magic Authentication

“Play a game, hang out, stack. Up to 1M sats¹ up for grabs!”

Yes, Bitcoin is now a medium for rewarding microtasks. It’s one of the most exciting applications of the world’s largest cryptocurrency.

Last year, Carrot launched as a platform designed for people to earn bitcoin rewards simply by supporting the projects and brands they love. Built by the team at BTC Inc, the media group behind Bitcoin Magazine, Carrot is novel on two fronts: the platform not only gives creators efficient ways to reward supporters directly, but also creates a critical new avenue for getting bitcoin into the hands of more people worldwide.

Powered by Magic authentication, Carrot is hitting record growth — with tens of thousands of users and counting.

#Reaching a Wider Audience with Auth

Bitcoin’s meteoric rise made headlines all throughout last year and in turn, has helped bring crypto to the masses.

Tyler Evans is at the center of it all, as the co-founder and CTO of BTC Inc, one of the first Bitcoin-focused media and product companies in the world. Carrot is the latest product from the portfolio company, and it offers fun challenges, surveys, and the like to incentivize users with the chance to earn satoshis, the smallest units of Bitcoin currency.

Tyler summarizes Carrot’s mission into one word: hyperbitcoinization.

“We built Carrot to be the economic engine of hyperbitcoinization, letting the next billion people earn their first bitcoin.

To achieve this mission, the app needed to scale beyond the world of Web 3.0. The Carrot team knew authentication would play an important role in catering to a more mainstream user base. Rolling auth from scratch was not a viable option, given the cost of resourcing their lean team of engineers on non-core product work. So, they turned to auth solutions that valued privacy, security, and user experience.

According to Tyler, what differentiated Magic was the robust security benefits and seamless login flows, “all with crypto principles built-in.” Leveraging blockchain-based, public-private key cryptography, Magic identity aligns with the standard of trust within crypto communities.

#Intuitive, Peace of Mind Onboarding

The key to hyperbitcoinization? “A frictionless way to onboard mainstream users is a must. That’s where Magic comes in,” Tyler emphasized.

From a UX perspective, magic links were a friendly onboarding experience for people regardless of their familiarity with the crypto space. The team was confident that passwordless was the best path forward, based on their own experience using magic links through Slack and Medium.

“Magic offers the easiest, lowest friction way to sign up, especially if you’re entirely new to crypto.”

What impressed them further was how easy it was for their developers to get up and running with Magic, thanks to the clear documentation.

“Magic is a complete toolset that safeguards accounts, comes with well-designed emails, and gives peace of mind on the security side. That’s key for Bitcoin because money is at stake.”

You can watch the onboarding here.

#Fueling hyperbitcoinization

From alpha, beta, and beyond, Carrot is climbing to all-time highs for total users. Since the start, Magic has powered authentication and identity, scaling seamlessly across multiple phases of rapid growth.

Web 3.0 presents tremendous opportunity for innovative decentralized applications and business models. There’s more excitement with Bitcoin rewards around the corner — Carrot’s new mobile app is launching soon.

[1] Sats or satoshis = smallest bitcoin unit, equal to 100 millionth of a bitcoin

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Bitcoin Rewards Platform Carrot Hits Record Growth With Magic Authentication