BITQUICK Review 2019

BITQUICKReview

BitQuick is a unique Bitcoin exchange in which the only deposit method for buying and selling Bitcoins is cash. The company was first established in 2013 under the name “BuyBitcoins.us” but has since changed to “BitQuick”. The company is located in Cincinnati, Ohio, United States and operates solely among 49 states in the US. The biggest difference between BitQuick and other exchanges is that it only accepts cash.

Contents

The way the exchange works is; The user selects a desired order from the order book, enters their email address, and clicks submit. The buyer will then go to a physical bank supported by the seller, fill out the deposit form with the associated account information of the seller, and deposit the cash with the deposit form. The buyer must take a picture of the receipt and upload it to the link you receive in your order email. This is the only way to buy and sell Bitcoins with BitQuick, no bank wires, cheque deposits, e-transfers etc. are accepted. After the funds have been received from the seller, the buyer will receive the coins within 3 hours.

Deposit and Withdrawal Options

BitQuick is limited to only 2 deposit and withdrawal methods, being Bitcoin and physical cash. This is what makes BitQuick so unique compared to most other cryptocurrency exchanges. When depositing cash to buy Bitcoin, the user will have to deposit the cash in a supported bank by the seller. Once the seller receives the funds in their account, they will release the Bitcoin to you through the BitQuick platform, where it will go directly to your personal Bitcoin wallet.

As for selling Bitcoin, this process is much easier than buying. All the seller needs to do is complete a sold form from BitQuick, send an amount of Bitcoin to the escrow address that is provided when an order has been fulfilled. Then receive the funds in your bank account from the buyer, confirm the transaction, and release the Bitcoin. It’s really quite simple.

Supported Countries

BitQuick is currently only operating in the United States throughout 49 of the 50 states. This is largely due to the banks that are accepted among users of the service. Banks that are accepted are by BitQuick users include:

  • Any Local Credit Union
  • Bank Of America

Fees and Charges

BitQuick charges users a 2% fee for buying Bitcoin, but no fees for selling Bitcoin. This fee is quite high for cash deposits, but compared to fees imposed by many other cryptocurrency exchanges, the fees are highly competitive.

Limits and Liquidity

Buyers on BitQuick can purchase a variety of amounts, as low as $10 if they please. However, it all depends if there are sellers willing to sell the amount you desire. The most a user can buy at one time is $10,000 worth of Bitcoin through BitQuick. However, depending on the bank involved, there may be some limitations on deposits. The liquidity of BitQuick is very good for a cash-only Bitcoin exchange, especially since buyers and sellers can connect across 49 states in America.

Privacy

Like other cash only Bitcoin exchanges, BitQuick is quite private as they do not require too much verification from users. Each user of BitQuick (both buyer & seller) must submit their email address and telephone number for communication purposes. Other than that, the users can remain anonymous. BitQuick will never release any of this personal information to any third parties and remain uninformed about their users’ identities.

Security and Verification Levels

Users of BitQuick are all treated as equals with no extra verification levels or higher account statuses. Users Bitcoins funds are kept safe by not storing them on BitQuick. A user’s Bitcoins are their responsibility and are kept in personal wallets. A sellers Bitcoin will only be sent to an escrow account when the order has been fulfilled, ensuring a greater level of safety for the seller. As for the buyer, they have control of their cash always, so the security of their money is in their control. Buyers on BitQuick are not required to have an account on BitQuick and only provide their Bitcoin address upon buying Bitcoins. Seller accounts on BitQuick are protected with a security PIN that is used to confirm and cancel orders.

 

Customer Support

The customer support offered by BitQuick is quite exceptional with fast response times and helpful support representatives. Their business hours are listed as Monday – Friday 8 AM – 10 PM and 9 AM – 8 PM on weekends. This is quite refreshing as many cryptocurrency brokers and exchanges tend to have very slow or delayed customer support. Also, BitQuick has an informative blog on new news surrounding Bitcoin, and an informative how-to guide for buying and selling Bitcoins with BitQuick. Unfortunately, there is no telephone support, but the excellent email support makes up for it.

Pros and Cons

Pros

  • Fast and easy cash payment method
  • Easy and intuitive interface
  • Impressive limits and liquidity

Cons

  • Only 1 buying method available
  • Only Bitcoin is available for purchase and selling

FAQ

  • Where is BitQuick based at?

Their headquarters are located in Cincinnati, Ohio, United States.

  • How do I fund my account at BitQuick?

With cold hard cash deposits at a bank.

  • How long does a withdrawal normally take at BitQuick?

Within 3 hours of receiving of payment.

  • How safe is BitQuick?

Very safe if the user knows what they are doing and how to deal with Bitcoin transfers.

  • Is BitQuick a scam?

No, it is used and trusted by many Americans.

Conclusion

All in all, BitQuick is an excellent cash only Bitcoin exchange. For American users who prefer to pay in cash, BitQuick might possibly be their best option. As well, this option is perfect for users who do not have bank accounts or debit and credit cards. Also, their fees are competitive with industry standards, and the company is trusted by many which offer a highly liquid market for Bitcoin buyers and sellers.

BITQUICKUser Reviews

Rate this exchange

BITQUICKFeatures

Coins Available
  • Bitcoin
Accepted Countries
    US Accepted
    Yes

    Payment Method

    Deposit Options
    cash
    Withdrawal Options
    cash
    Company Information
    Exchange DetailsInfo
    Headquarters CountryUnited States
    Typechange
    Trading AllowedNo
    Contact Information

    Crypto

    SymbolPRICEChange

    Top Wallets

    IMPORTANT DISCLAIMERS
    The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
    RISK DISCLAIMER
    This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
    FOLLOW US