Vision

Pricing: How we approach user feedback and improve

• 3 min read
Pricing: How we approach user feedback and improve

Our products have evolved, and so has our business model. Yet one thing has remained constant: our commitment to creating the best tools for individuals and developers to send and receive bitcoin payments online. We are driven by a vision of a future where bitcoin is widely adopted as a global currency, and we’re focused on building the tools to help make that happen.

Zooming out a little. We introduced Alby Hub, a self-custodial wallet with the easiest to use lightning node, accessible from anywhere to integrate with dozens of apps. Since lightning wallets need to stay online all the time in order to receive payments 24/7 we are offering a cloud hosting service. To cover these operational costs, we introduced a subscription plan. The generated income lets us offer many more benefits such including automated backups, personalized lightning addresses, priority support via in-app chat, and personalized onboarding sessions for subscribers.

The feedback is amazing. You’ll find more on https://albyhub.com/.

Zooming in again. We introduced a subscription service priced and charged in bitcoin because, at Alby, we see bitcoin as the primary currency of the internet—and beyond. In our view, no other currency matches bitcoin’s unique combination of qualities as a store of value, medium of exchange, and as a unit of account.

From the start, it was clear to us that we would adjust the subscription price as bitcoin’s value rises. However, this approach wasn’t as obvious to our users.

Share your feedback

You as a user are the most valuable part of Alby. That’s why we prioritize constant interaction and keep our communication channels as direct and accessible as possible.

We appreciate all feedback, whether it’s feature requests, bug reports, or collaboration ideas. Establishing bitcoin as a major currency is a collective effort, and every participant plays an important role in making it happen. 

We listened to your feedback

After rolling out the bitcoin-denominated subscription plan, we received feedback such as:

  • “I believe that for many people there is still the uncertainty of calculating an amount in sats.”
  • “this annual fee has the “disadvantage” for me that I have probably paid too much if the bitcoin price rises. But that would be to your advantage ;-)”
  • “A customer will calculate, I pay 210,000 Sats today, which is €112. If the Bitcoin price doubles, then I pay €224.”

The first iteration

Somehow, prices in sats are still problematic for planning, even for bitcoiners. So we tried to clarify how we see the prices evolve by adding more content to the checkout page.

The second and current iteration

This change was, arguably, a quick fix. We still required users to trust that we would eventually adjust the prices accordingly. Thanks to the recent bull run, the need to act came sooner than we anticipated. What we learned from this experience is how deeply ingrained traditional thinking patterns are. After all, who are we to demand that people change their mindset overnight? Our goal is to build tools that make people’s lives easier—not more complicated. That’s why we decided to introduce fiat-denominated pricing for our subscription plans. While bitcoin may no longer serve as the unit of account for these plans, it remains an excellent medium of exchange. Yes. Bitcoin-based subscriptions are here to stay. 

We only took a small step back to take a run-up for the next jump. Fiat money that is divisible and fungible works as a unit of account today. But we still believe that digital-native money—permissionless and immune to inflation—will become an even better unit of account, perhaps one step at a time. 

What do you think about this step? Does your vision resonate with ours? Does the way we include your feedback and improve our product align with your values as a user?