NOT ABLE TO USE AIR DROP ON MY MACBOOK PRO

You don't drop files onto the window itself. If there are any other Mac Computers on the same network as you , they may appear in that window. You would then drop the file onto that icon.

Note that your Mac is too old to use the new AirDrop that allows dropping between iOS devices and OS X Macs. You need a 2012 or later Mac to do that.

If you are trying to drop to a newer Mac, on that Mac click the link at the bottom of the AirDrop window that says something like, "Don't see what you're looking for?" That will allow you to put the newer Mac into Legacy AirDrop mode. You should then see that Mac on your Older Mac's AirDrop window.

Again, you will not be able to AirDrop to or from an iPhone or iPad using that Mac.

See this article: Use AirDrop to send files from your Mac to another nearby Mac or iOS device - Apple Support

you can install BT 4.0 USB based on Broadcom BCM20702 and activate it with Continuity Activation Tool

you will get fully working AirDrop and plus to that Continuity and Handoff feature

Ok here is my issue...I have an iphone 6 and a mbp retina display running yosemite 10.10.5. First, I cannot see the airdrop folder on my mac...if I go to finder>preferences>sidebar, there is no checkbox for airdrop..it simply is not there. If i check under Finder>go>....nothing. I search for it in spotlight..nothing. Bluetooth is on for both devices. However, if I turn on wifi on my laptop my phone will recognize it and I am able to send pics from the phone to the laptop, and a notification in the top right of my laptop pops up and asks whether I want to accept the file or not. So what is the issue? Why can't I find the airdop folder on my laptop? Does airdrop only work over wifi?

You need both WiFi and Bluetooth enabled for AirDrop.