Question 1

What is Drop Dimes?

Accepted Answer

Drop Dimes is on a mission to increase global creativity. Fans want to support creativity but the barriers are often too high. Drop Dimes is a mobile app that opens the door for fans to easily reward creators with as little as a dime or enough to buy a bottle of dom 🍾.

Question 2

Where is Drop Dimes available?

Accepted Answer

In the Apple mobile app store. To start, we are only available in the United States. If you are looking for a solution like ours and are an Android user or outside the U.S., please email us at hello@dropdimes.app or join our waitlist.

Question 3

How does it work?

Accepted Answer

Drop Dimes is built using blockchain technology. This is a new and novel technology and it means that Drop Dimes works a little differently than other apps involving payments that you may have used, but it's important to understand how we're different. These differences are what enable you to have control of your funds. Drop Dimes uses a Coinbase Smart Wallet. The Coinbase Smart Wallet is self-custody. This means that you own and control the funds in your wallet. Your ownership is secured using a passkey stored on your device. Neither Drop Dimes nor Coinbase have access to this key and so cannot access your wallet. Every transaction involving your funds must be approved by you. Drop Dimes cannot act on your behalf and Drop Dimes cannot undo transactions.

Question 4

What is a Drop Dimes Link?

Accepted Answer

Drop Dimes links allow creators to provide fans with a direct way to provide financial appreciation - aka drop a dime (or 40 ☕️ or 2000 🍾). When a fan clicks on a Drop Dime link it takes them to the creator's page where the fan can drop a dime using the app. If the fan does not have the app installed, they are prompted to install.

Question 5

What happens when a dime is dropped?

Accepted Answer

The dime dropper uses their Coinbase Smart Wallet to approve the transaction. Then a message is sent to the Base blockchain transferring USDC from the dime dropper to the dime recipient (creator). The dime recipient receives a notification that the funds are now theirs and the balance in their wallet increases by the amount sent. The dime dropper's balance of USDC decreases by the amount sent.

Question 6

Does Drop Dimes charge fees?

Accepted Answer

Drop Dimes is free while we're getting started and we hope it can be free forever, but we might need to charge some sort of fees in the future. Our mission is to always be significantly less than the current options such as credit cards and other platforms which charge exorbitant fees. In the event that we need to charge fees we will always be up-front and transparent with you about fees, and we will always tell you exactly how much we're charging you.

Question 7

Does Drop Dimes have access to my money?

Accepted Answer

No, Drop Dimes works with Coinbase Smart Wallet which is a self-custody wallet. Drop Dimes cannot access your wallet, cannot initiate transactions on your behalf, and cannot control or access the cash in your wallet. All USDC stored in your wallet is secured using a passkey stored on your device, which only you can access. When you use face ID, you are using the passkey stored in your iPhone protected by Apple's security to access your wallet.

Question 8

How secure is my money?

Accepted Answer

At Drop Dimes our mission and focus is to increase global creativity by connecting creators and fans - we never touch funds by design. We have chosen the best security partners to make each step as secure as possible. Accessing the app: We are using Google and Apple authentication for the app itself. Wallet: The wallet is a Coinbase Smart Wallet. Coinbase's Smart Wallet is designed with several security features to enhance user safety. It utilizes passkeys stored on your device, which are end-to-end encrypted and can be backed up through providers like Apple, Google, or hardware devices such as YubiKeys. Blockchain: The ledger where the transactions are stored is called Base. Base is built upon Ethereum and leverages the security protocols of the Ethereum blockchain, ensuring that transactions processed on its network remain secure. USDC: USDC is a stablecoin issued by Circle that ranks consistently among the largest cryptocurrencies by market capitalization. Every USDC in circulation is backed by an equivalent amount of U.S. dollar assets (cash and short-term U.S. Treasuries).

Question 9

How do I withdraw my money?

Accepted Answer

Use the "Cash Out" button located in the Profile tab of Drop Dimes, under Account Actions. Drop Dimes App > Profile > Account Actions > Cash Out. The app will walk you through the cash out workflow using Coinbase.  Note that this workflow does require creating a Coinbase account. If you prefer to not create a Coinbase account, you can connect directly to the Coinbase Smart Wallet on your device and transfer your USDC to other wallets or offramps.

Question 10

How do I set up a Coinbase Smart Wallet?

Accepted Answer

When you onboard onto Drop Dimes, you will be guided through the steps. It's just a few taps.

Question 11

What if I already have a Coinbase Smart Wallet?

Accepted Answer

Awesome—you're all set! Just tap "Connect Wallet" in the app and follow the prompts to approve the connection. If you already have USDC on Base in your wallet, you can start supporting creators right away. If not, Drop Dimes will guide you through adding USDC on Base.

Question 12

What if I already have a Coinbase account?

Accepted Answer

A Coinbase Smart Wallet is separate from your regular Coinbase account. A Coinbase account is a more traditional account you would have with a company tied to your identity. The Coinbase Smart Wallet is a self-custody wallet. If you've only used coinbase.com or the Coinbase app for buying and selling crypto, you likely have not set up a separate Coinbase Smart Wallet. If you go to https://wallet.coinbase.com/smart-wallet and are able to connect with an existing passkey, then you already have a wallet.

Question 13

What happens if I lose access to my wallet?

Accepted Answer

If you lose your wallet or passkey, unfortunately, we can't restore access. That's the nature of self-custody—you are in full control. To prevent this from happening, you should either set up your passkey using iCloud keychain, Google password manager, or a password manager such as 1Password or set up a recovery key by following the steps here.

Question 14

What is USDC?

Accepted Answer

USDC is a stablecoin issued by Circle that ranks consistently among the largest cryptocurrencies by market capitalization. Every USDC in circulation is backed by an equivalent amount of U.S. dollar assets (cash and short-term U.S. Treasuries).

Question 15

What are stablecoins and blockchain?

Accepted Answer

Stablecoins: A stablecoin is a type of cryptocurrency that's designed to maintain a stable value, typically by being pegged to a reserve asset like the U.S. Dollar or Euro. They're created to reduce the price volatility seen in most cryptocurrencies like Bitcoin or Ethereum, making them more practical for everyday use, trading, and storing value. Blockchain: A blockchain is basically a digital ledger or database that's: • Decentralized (no single owner) • Immutable (once something's recorded, it can't be changed) • Transparent (everyone can see the data) How it Works: Think of it like a chain of blocks, where each block contains a list of transactions, a timestamp, and a cryptographic hash of the previous block (which links it to the one before). This chain grows over time as more transactions are confirmed and added. Why It Matters: People can transact securely without needing a central authority (like a bank or company) to verify transactions.

Question 16

How long do transactions take?

Accepted Answer

A few seconds.

Question 17

Who makes Drop Dimes?

Accepted Answer

Square Zero Labs – We're a team on a mission to break the grip of click-hungry platforms and fee-obsessed finance bros dominating the credit card and payments space. Our goal? To return value to where it truly belongs: with the creators. But ultimately, it's you—the fans and creators—who make Drop Dimes possible. By pushing through a bit of early friction (which we promise will evolve into a seamless experience), you're helping build a world where talent isn't just recognized—it's richly rewarded.

Question 18

How do I contact Drop Dimes?

Accepted Answer

We would love to hear from you with feedback or any other questions we missed. Please email us at hello@dropdimes.app.

Question 19

How do I delete my account?

Accepted Answer

We're sorry to see you go and would appreciate any feedback you have so we can improve. Simply go to Drop Dimes App > Profile > Account Actions > Delete Account. You will then be asked to confirm deletion.

Question 20

What is a self-custody wallet?

Accepted Answer

Drop Dimes uses a Coinbase Smart Wallet which is a self-custody wallet. With a self-custody wallet all money is stored using a private cryptographic key which only you can access. Neither Drop Dimes nor Coinbase can access your wallet, initiate transactions on your behalf, or control or access the funds in your wallet. This is different than most financial products you may have used before, where money is stored by the service provider in a centralized ledger and the service provider may freeze those funds, lend those funds out, or otherwise manage those funds on your or their behalf. With a self-custody wallet you are entirely in control.

Question 21

How do I change my user name?

Accepted Answer

Unfortunately, for now user names can't be changed.

Question 22

What does my balance in Drop Dimes represent?

Accepted Answer

The simple answer is that your balance represents cash in US Dollars. Under the hood, your balance is in USDC. USDC is a stablecoin pegged to the US dollar meaning 1 USDC equals 1 USD. The USDC we are using is on the Base network in your Coinbase Smart Wallet. By using USDC on Base we are able to transfer funds from fans to creators efficiently and without high transaction costs.

Question 23

Is my transaction history on the blockchain?

Accepted Answer

Yes, every transaction is recorded on the Base blockchain. Your user name is not recorded on the blockchain but your wallet address and transactions are. If you close your Drop Dimes account, your historical transactions remain on the Base blockchain connected to your wallet. It is impossible to remove them. This is the foundational principle of why the blockchain is secure.

Question 24

What payment methods can I use to add dimes?

Accepted Answer

Currently the only way to add funds is via Debit Card. As technology and various financial institutions provide more options they will be added - this is our long-term goal and mission and we intend to provide as many options as possible to make a smooth and pleasurable experience.

Question 25

How are dime drops taxed?

Accepted Answer

We are not in a position to provide tax advice. You should consult your own tax advisor to understand whether you have to report dime drops or exchanges into and out of USDC to your local tax authority and whether they may represent gains (or losses) on your taxes.

Question 26

When I drop a dime, when will my funds leave my wallet?

Accepted Answer

Almost immediately.

Question 27

How do I support a creator?

Accepted Answer

Find the creator's page, select an amount of dimes and follow the steps to approve the transaction with your Coinbase Smart Wallet. If you do not have funds in your wallet, you will be guided through adding them.

Question 28

Can I support more than one creator?

Accepted Answer

Absolutely! There is a Discover tab where you can search for your favorite creators. If you don't see them there, please let them know about Drop Dimes!

Question 29

What if I drop dimes to the wrong creator?

Accepted Answer

Blockchain transactions are final and irreversible. Always double-check the creator's profile before dropping dimes.

Question 30

What types of creators can use Drop Dimes?

Accepted Answer

Drop Dimes is designed for all types of creators, including content creators, artists, musicians, writers, and more. If you have fans who want to support your work, Drop Dimes can help you receive that support without any fees.

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