We Have Reduced Our Mining Fee By 90%!

We Have Reduced Our Mining Fee By 90%!

  Due to the sharp increase in mining fees in late 2017 and early 2018, we decided to start charging a mining fee of 0.001 BTC last November.  After receiving feedback from our users and in light of the recent drop in mining fees, we have reduced our mining fee by 90%, from a minimum of 0.001 BTC to a minimum of 0.0001 BTC. We have also implemented a ceiling so that if the average mining fee of the last 30 days exceeds 0.0001 BTC, the fee will be that amount instead. Example: If mining fees increase and the 30 day average fee amount is 0.0002 BTC, the mining fee will be 0.0002 BTC.  We anticipate being able to implement Segwit by the end of 2018, which should ideally allow us…
Read More
Cash Deposit Restrictions (Wells Fargo, Chase, Bank of America)

Cash Deposit Restrictions (Wells Fargo, Chase, Bank of America)

  Throughout the past couple of years, certain banks have instituted policies that restrict who is allowed to deposit cash into personal bank accounts. This began with Chase Bank 4 years ago , and since then Bank of America and (most recently) Wells Fargo have followed suit.   Why Is This Happening? The aforementioned banks have likely rolled out this policy for two primary reasons: cash transactions can present compliance risks, especially for three of the largest banks in the US, and an increasingly robust digital economy and a myriad of available digit payment applications and services have rendered cash to be seen as somewhat antiquated from the perspective of the banks.   How Will This Affect BitQuick? Now that Wells Fargo, Chase Bank and Bank of America have rolled out…
Read More
Become A BitQuick Affiliate!

Become A BitQuick Affiliate!

  The BitQuick Affiliate Program went live just over 3 years ago, and has been incredibly successful to date.     We're thrilled to have had the opportunity to work with thousands of affiliates that have been paid for sending tens of thousands of customers our way. As a BitQuick Affiliate, you are member of the BitQuick (and Athena Bitcoin) family. This means that when you're accepted to our program, you are granted the opportunity to promote BitQuick and grow alongside us by earning money for your referrals. Interested in becoming an affiliate? Continue reading for a 101 on our program.   Commission Structure   As a BitQuick Affiliate, once approved you will earn 1/4 of our 2% fee for each transaction made by a user that you refer to…
Read More
How Does BitQuick Prevent Fraud?

How Does BitQuick Prevent Fraud?

  Since our launch in August of 2013, we've built our business on the foundation of offering a better, safer way to trade bitcoin peer-to-peer. Other peer-to-peer services are in essence the wild west of bitcoin trading, leaving buyers and sellers to their own devices and necessitating that they learn the ins and outs of trading on their own and rely on a reputation system. Over 4 years ago, BitQuick's founder Jad Mubaslat envisioned a better way to trade, and that vision is still maintained to this day under Athena Bitcoin's ownership and management. Continue reading to find out how BitQuick has your back in ways that other run-of-the-mill, DIY peer-to-peer services do not.   Preventing Scams Involving Third Parties Many common scams exist in the Bitcoin trading world. A…
Read More
Bitcoin Cash Claim Update

Bitcoin Cash Claim Update

On August 1st, 2017, a new blockchain split (or "forked") from the main Bitcoin blockchain creating a new, separate cryptocurrency called Bitcoin Cash (BCH). As we stated in our previous post, any BitQuick seller that had a Bitcoin escrow balance during the fork would receive an equivalent amount of the BCH. It's a new year now, and we're proud to announce that to date we've credited 92% of the BCH that were created in escrow as a result of the August 1st split.     If you're a seller that had Bitcoin in escrow on BitQuick during the fork and have not yet claimed your BCH, please email [email protected] with a BCH address and we will quickly have you taken care of. A couple of things to note:  Bitcoin Cash…
Read More
Buyer Verification Is Made Simple With User Profiles!

Buyer Verification Is Made Simple With User Profiles!

BitQuick has proudly serviced thousands of customers since 2013. In order to abide by regulations in the United States, it is required that we collect certain information from customers for KYC/AML purposes ("Know Your Customer" and "Anti-Money Laundering"). Thankfully at BitQuick, we make it easy for users to verify their info. If you are interested in being a buyer, we would recommend that you create your profile ahead of time via our buyer profile page. To fill out your profile, the first step is to visit your profile page and log in with your phone number (if you've never logged in before, an account will be created for you under the phone number that you use):     After logging in for the first time, you will need to fill…
Read More
Introducing The BitQuick Compliance API

Introducing The BitQuick Compliance API

  We are happy to introduce the official launch of our compliance API! Initially released in 2015, it allows state and federally regulated businesses to access customer data in order to remain compliant and fulfill their policy obligations.   An Evolving Landscape After gaining early traction, the concept of Bitcoin was initially met with skepticism by regulators worldwide, especially those in the United States. However, guidance has since been provided by many financial departments, with FinCEN in particular and a number of states in the USA releasing information about what activities in the cryptocurrency world fall under the category of money transmission / money services business according to their laws. In order to remain compliant under these laws, it is usually required that MSBs or Money Transmitters collect customer data…
Read More
How To Set Up An Athena Bitcoin Wallet

How To Set Up An Athena Bitcoin Wallet

To buy or sell bitcoin, the use of a bitcoin wallet is required. As a seller, bitcoin need to be sent from the seller's wallet to the buyer's, and as a buyer, bitcoin need to be received to a bitcoin address. On BitQuick, sellers are provided with a secure BitQuick escrow address to send their bitcoin to. Buyers on the other hand, need to provide BitQuick with a bitcoin address where they would like to receive the BTC: If you're new to bitcoin and in need of a wallet, we would recommend downloading the Athena Bitcoin wallet. The Athena Bitcoin wallet is a white-label version of the Airbitz wallet (Airbitz rebranded to Edge in 2017).   The Athena Bitcoin wallet is a great wallet solution, with several key benefits: You Maintain Control Of…
Read More
We’re Proud To Unveil Our New Site Design!

We’re Proud To Unveil Our New Site Design!

Please welcome the new BitQuick! Our site has undergone various tweaks over time, with a major redesign back in 2014. We’ve changed our look once again to accommodate the continuously evolving standards in the space, and to maintain our status as the easiest way to trade bitcoin in the United States.   Buying Bitcoin Has Never Been This Easy. A key component of our new design is the introduction of an embedded buying wizard on our front page. An evolution of our original wizard, the new wizard allows you to get started from the moment you visit BitQuick. As a buyer, you can now immediately enter the amount of USD you want to spend or BTC you want to receive: Select your payment method (if applicable): Select an offer: Place…
Read More
Bitcoin Scaling Update

Bitcoin Scaling Update

The Bitcoin whitepaper just had its 9th anniversary on October 30th, allowing everyone in the community to reflect upon the massive and transformative impact the cryptocurrency and its underlying technology, Blockchain, have had on many industries worldwide. After all, this groundbreaking technology has restored hope in the simple concept of financial democratization that has eluded humankind as of late, and will surely change the world for the better. That is, assuming the project makes it far enough. Bitcoin has had growing pains from the get-go. It's taken years to develop a credible and legitimate name, and at times the layman still finds it difficult to understand the technology. To add insult to injury, Bitcoin has a scaling problem. The network has become too congested, and there's not enough space to…
Read More