Interview with Bitquick’s CEO, Jad Mubaslat
Bitcoin industry is going through a period of profound changes followed by an outstanding expansion. Everyday new businesses and other projects are coming up with new concepts and improved services. Exchanges are an integral part of the bitcoin industry in constant development; some exchanges are working vigorously in an effort to keep up with the ever increasing demands of the crypto currency ecosystem, while trying to offer the best innovative security options along with professional experience.
Bitquick, is one frictionless easy to use exchange that is trying to introduce their costumers an alternative and secure way of buying and selling bitcoin. To better understand how Bitquick exchange works, Bitcoinist arranged a meeting over skype with the company’s CEO Jad Mubaslat, where we could have a short conversation about the Bitquick exchange.
How are you Jad?
Great, but looking forward to the weekend, ah-ah. Very busy! It’s exciting though! Everything except the price is exciting these days in Bitcoin…Ah ha
Hopefully BitQuick can help the problem! At the heart of it all, our mission is to connect people around the globe through Bitcoin. That starts by creating an easy to use platform for people to obtain bitcoins.
Do you think this can give place to the rise of new crypto over BTC?
Not quite. First I want to actually see businesses using other cryptos. I know Litecoin and Dogecoin have slight merchant adoption, but they really offer nothing over Bitcoin. I’m pretty excited about BitsharesX. I think the idea is great, and if the technology can be created properly and marketed well, it has a good shot at being a successful Crypto 2.0. But I don’t think any Crypto will succeed without Bitcoin also succeeding just because so much money is already in Bitcoin. Heck, even PayPal is about to integrate it!
Just in case anything happens though, BitQuick has our alternative cryptocurrency exchange AltQuick.co. AltQuick is the same platform as BitQuick but allows users to trade LTC, PPC, NMC, XPM, DOGE, BITUSD and BTSX.
Can you tell us how you got into Bitquick exchange?
I first heard about Bitcoin back in September, 2011 but the process of buying them was too cumbersome at the time and their wasn’t any real motivation to look at the technology. It wasn’t until May, 2013 that my interest was sparked back up again, mainly by the recent price rise. I began trading Bitcoin and other cryptocurrencies to try and make a quick buck but was finding the process still quite difficult. I had gotten hacked for 21 BTC on Mt. Gox and scammed for over 10 BTC on Bitcointalk.org. I figured it had to be a better way to obtain bitcoins.
The answer came in a forum post in July, 2013 from a Bitcointalk.org user displaying his new basic website. I thought it was really cool and offered to purchase it for $300. I quickly launched it as BuyBitcoin.us, but in August rebranded to BitQuick.co. The platform quickly gained traction, and my roommate and best friend hopped on board in October, Chad Davis. He brought with him his idea of our Breast Cancer Awareness Month promotion, in which we managed to raise over $1,100 for charity!
What can you tell us about your team?
So the working team is me, Jad Mubaslat, and our COO, Chad Davis. I suppose this would be a good time to delve into the beginnings of BitQuick.
I hear it’s a frictionless easy-to-use exchange; can you comment about it?
First of all, it’s important to realize that BitQuick is setup differently than other services such as Coinbase, Expresscoin, Bitfinex and others. We’re a marketplace, similar to LocalBitcoins. We allow users to list their bitcoins for sale and to purchase them, but we do not directly buy or sell anything. You can almost think of us as an escrow service, or a streamlined LocalBitcoins. We think we’re a superior platform to LocalBitcoins because users can’t get scammed on our platform. We hold all bitcoins for sale in escrow so that nobody is at risk. Not to mention, there is NO fee to sell. The fee to buy is 2%. The appeal with BitQuick is no matter what, you know you’re going through a 3 step process and when purchasing, you are seeing bitcoins after 3 hours or less. A consistent, quick experience is the key to our service.
When buying bitcoin, you simply place a hold on any order on BitQuick.co/buy-2.php and then pay for your order by going to a local bank or credit union and performing a cash deposit. After uploading your receipt to BitQuick.co, you’ll receive your coins within 3 hours.
If you want to sell bitcoins, you just send your bitcoins to a BitQuick Bitcoin address provide your bank account name and number and confirm cash deposits as they arrive. It’s that easy!
Are you hoping to introduce Paypal options in a near future?
We are exploring ways to reduce the prevalence of fraud when using PayPal. We don’t expect to have it soon, but we are working to find a way.
Have you had a good feed back from customers so far?
In February we underwent a website design, and it looks the way it does now. Users seemed to love it!
The feedback from the Bitcoin community has been overwhelmingly positive thus far. http://bittrust.org/bitquickco : 87 reviews, 4.76/5 stars! They love us!
What can you tell us about your roadmap?
At this point, it’s about:
1.) Getting the word out about BitQuick and how easy the platform is to use.
2.) We’re currently undergoing another website redesign. We’re making the process even simpler, and adding bank transfers!
3.) We’re raising funds so that we can continue to expand our operations.
Can you tell us your expectations for the future of the exchange?
Well, the great think about BitQuick is we’re a bankless business; we have platforms in the Middle East, Europe, Taiwan and India. So, we’re looking to continue expanding and allow remittances through our platform. Things are very exciting for BitQuick!
Photo source: Bitquick