BitQuick
- Overview
- Security
- User Experience
Volume 24H: N
BitQuick is a peer-to-peer Bitcoin exchange that allows users to buy Bitcoins with cash. The platform is essentially a third-party escrow agent. BitQuick holds both BTC and fiat while users complete the required steps to finalize the transaction. They provide an easy way to convert BTC to cash and support USD, EUR, and CAD. BitQuick is available worldwide, but used mainly in the US.
The exchange interface looks good and is clean and easy to use. The platform is intuitive and user-friendly, making it really easy to buy and sell Bitcoin in just three steps. Users don't need to open an account to make a trade, but ID verification is required for purchases of BTC. The website is responsive, and it looks good on mobile devices, but the exchange doesn't offer Android and iOS apps.
Crypto Currencies Support
- BTC
Traditional Currency Support
- CAD
- EUR
- USD
Language Support
- English
Country Support
- Australia
- Canada
- China
- European Union
- Hong Kong
- Japan
- Most Africa
- Most of Asia
- Most of Eastern European Union
- Most of Latin America
- Most of the Middle East
- New Zealand
- Norway
- Russian Federation
- Singapore
- Switzerland
- Turkey
- United Kingdom of Great Britain and Northern Ireland
- US partial
Platforms Systems
- — Mobile App
- — Web Interface
Stock Market Options
BitQuick has a good reputation for security in the BTC community. Since users don't have to register to trade, they don't provide 2FA. However, BitQuick offers a third-party escrow wallet with multi-sig in partnership with BitGo for storing the coins during the transactions and they have a proof of reserve display which allows anyone to see the amount of coins held in each of the escrow accounts.
Summary:
| 2 Factor Authentication | No |
| Funds Insured | Fdic Insurance Up To 250 000 Applys To Fiat Currencies Only |
| Private Keys Stored On | Exchange Platform |
| Storage Type | Hot |
BitQuick was created by Athena Bitcoin, Inc, a provider of Bitcoin ATMs in the USA and Mexico. BuyBitcoin.us rebranded to Bitquick.co in August 2013 and the exchange was created by Jad Mubaslat. BitQuick is based in Cincinnati, USA and sees itself as a hybrid between Local Bitcoins and BitInstant. Their objective is to streamline the BTC buying process by enabling cash-to-Bitcoin transactions.
Summary:
BitQuick is a global peer-to-peer exchange for users that want to exchange Bitcoin for cash. Advantages of the exchange include the simple fee structure, easy-to-use and beginner friendly platform, fast transactions, full transparency and proof of reserves, anonymity, good support. Drawbacks are the fact that Bitcoin buy prices are often above market rate and the high fees for BTC buyers.
| Ease of use | Intuitive |
| Transaction Fees | It's Free (fees May Be Hidden) |
| Deposit/Withdrawal Fee | 0-0.09%, 2% |
| Deposit/Withdrawal Fee For Bank Transfer | N/A |
| Deposit/Withdrawal Fee For Credit Card | N/A |
| Deposit/Withdrawal Fee Charged For 3rd party Payments | 0-0.09%, 2% |
| Anonymous Trading | Yes |
Deposit/Withdrawal Options:
Deposit using 3rd party, Deposit using an ATM (Special BTC ATM), Withdrawal funds through a third party, Withdrawal from ATM (Special BTC ATM)
Functionality:
To purchase Bitcoins, a buyer deposits cash into the seller's account, and emails an image of the deposit receipt to BitQuick. The BTC are sent shortly after. There are no fees for BTC sellers, but a 2% fee for buyers. BitQuick lets buyers and sellers agree on trades and enforces no limits. Margin trading, derivatives, and futures are not supported. New York is the only US state not supported.
Most common customer complaint:
— High fees for buyers of BTC