Description
UpdateBitQuick.co is the world's fastest and safest Bitcoin trading platform that allows buyers and sellers to indirectly transact via cash deposit, Western Union or MoneyGram by using our trusted escrow system. To purchase Bitcoins on BitQuick, a buyer deposits cash into the seller's account (or at a local Western Union or MoneyGram kiosk), and the Bitcoins are sent shortly after uploading an image of the deposit receipt.
You can get started via bitquick.co/buy and go from cash in your pocket to bitcoin in your wallet in 3 hours or less!
Reviews
Write a reviewJoe - October 30, 2014
Hi Chad (or whoever responded to my review in the description above),Thank you for your response! I'm looking forward to seeing this change to help improve security! Glad I could help! I will personally be holding off to buy more until an email confirmation link is implemented, but I'm glad that it's on the way!
Can you please comment on the order status of "dave", "stillwaiting", and now more recently "Anonymous"?
It's been multiple weeks since we've heard from 2 of these customers, so I assumed that their issues have since been fully resolved, but neither they nor you posted here to confirm this. (This is a review site after all and not a forum, so I realize that 99% of people don't return here for a followup after posting.)
I would have also asked dave in the thread he created on another site that linked to this, but that seems to have been deleted for some reason, maybe by a mod. The address he posted there does not receive any BTC yet either! (Yet another reason I love bitcoin - all transactions are public.)
All 3 of these users sound like they have a similar issue contacting you and there are no signs that they have received their BTC. They claim to send you messages, but do not receive any replies. If my theory (from last week) is correct, then this is due to an issue with your website that you are in the process of fixing and therefore it should be resolved soon.
However, in the mean time these users appear that they still may have outstanding BTC.
Can you please answer the following questions to help ease the minds of all of your customers that are reading these posts but may now be afraid to use your service?:
1) Did all 3 users receive 100% of the BTC they ordered (minus the fee of course)? If not, who did not and why?
2) Why did they not receive their BTC in the first place? I agree that some claims dave makes may be a bit over the top, but he is definitely correct that your website states a 24 hour max wait time. This should be more than enough time to confirm a cash deposit.
3) After you fix your website to confirm email addresses for future users, this issue should be completely resolved, except for the 3 users above who may still be affected. What are your plans for the users who were affected by this issue that you no longer have a secure way of getting in contact with?
4) How many buyers (including the 3 above if applicable) currently have an outstanding BTC order for over 24 hours?
I personally feel that bitquick is at fault, but as long as the issue is fixed ASAP and you fairly compensate any affected users, then you would probably be fully redeemed in the eyes of the community. Mistakes happen, but people tend to be pretty understanding as long as the resolution is fair. Most people are reasonable, but they just don't want to be goxxed. Temporarily halting buy orders may also be a good idea until the issue is fully resolved, in order to prevent future users from having this same issue (and thus piling on more issues for you to deal with).
Forgoing the 2% fee sounds like more than fair compensation, however I (and probably others) just want to make sure that the 3 users above actually received their BTC. (Debating between 98% or 100% is meaningless if the customer actually receives 0%.) If fellow customers don't receive their BTC, then we become afraid that the same may happen to us.
In the end, this unfortunately appears to come down to a poorly planned protocol for contacting customers, but I am glad that you are working to fix this issue. Best of luck with your business and I hope that the customers are all fairly compensated (especially since the price has gone down so much since their original orders)!
Dealing with a new company is always risky, especially in this business. You've built up trust with me, but you are slowly losing it. I hope you can respond to the above questions to help instill confidence in me once again.
Thanks for your time and the wonderful past experiences!
Joe
Anonymous - October 30, 2014
Edit: Bitcoin has been sent and I am awaiting response as to why it took so long to receive. Not sure if I will be using them again.
Anonymous - October 30, 2014
I placed an order on BitQuick nearly 24 hours ago and still have not received Bitcoin. After placing the order I deposited cash within ~15 min and uploaded the deposit receipt maybe another 30 min later. I have yet to receive any kind of message from the seller. I also contacted BitQuick by email TWICE and have not received a reply from them either. I'm fearing that I have probably lost all of the money I deposited. This site is bullshit.
wldman92 - October 29, 2014
Had a little mishap. But safely received my coins, great customer support A++ will be back for more. Highly recommend
Chad (BitQuick Team) - October 24, 2014
Dave, You have made several comments, accusations, and allegations in your previous reviews, all of which are either blatantly untrue or entirely misleading. I will make sure to address your comments, but I would first like to resolve your BitQuick order and have your coins sent to you as soon as possible. This has been our intention since October 18.
First and foremost I would like to say that I am very sorry that you have been so inconvenienced by this situation, it is unfortunate to hear that you were unable to make the deadline for your purchase due to not receiving your BTC on time. We have been trying to contact you for the past four days as well, beginning 15 minutes after you uploaded your receipt. We did receive each and every one of your emails, and responded to every single one. There was a total of 7 emails that we sent out when trying to reach you over the past four days (we sent from a couple different email addresses as well), and we have not received a response to any of them or even acknowledgement that you have received them. It would appear that your email address is either bouncing emails that we send to you, or they are going to your spam folder (which I would recommend you check if you have not done so already). We do not have any known alternative email to reach you at. However, due to being troubled by not being able to reach a frustrated customer, we even sent out a tweet to all of our followers reminding that it would be wise to try contacting us with a different email if you do not receive responses promptly (or at all). That tweet is still there, you can view it on our page @Bitquickco. We are ALWAYS here to respond, and usually attend to emails within at least 15 minutes or so after we receive them. Please try contacting us at [email protected] using a DIFFERENT email than the one that you have been using for all previous communication attempts, and we will have this resolved as quickly as possible.
I would now like to turn to the numerous scam/fraud/legal allegations and and comments that you have made about our company, addressing first the suggestion that we "scam" people by not responding to them and running away with their money. This is 100% false, and could not be more false. We have been operating for over a year, having served 6,328 customers as of the writing of this post. Aside from you, all of those customers have received their Bitcoin as promised (just to clarify, you WILL receive your coins once we are able to reach you). We have always operated as a fully legitimate and honest business, and strive to have a strong and visible presence in the Bitcoin community. You can meet us in person at our Columbus Bitcoin Meetup (found on meetup.com), and we have even attended two recent Bitcoin Conferences (BTC Chicago, Cryptolina), having presented at and sponsored one of them.
Our reviews on this site are absolutely not fabricated. They are real testimonies from real users reflecting real experiences. As you can see, some are negative. The negative experiences often involve either miscommunications similar to the one that you have encountered, or delays due to unique or extenuating circumstances. We provide a link of this page to all of our buyers after they complete a purchase, and to sellers as well. We treat this page as a forum for discussion, communication, and feedback. We are constantly looking to actively and aggressively improve the experience of using BitQuick, and BitTrust acts as a gateway for that. We want to know about the issues that users have when using our service so that we can fix them. We not only want to know what works, but also what doesn't. Positive feedback is great, but more than anything we are grateful for each and every comment that has been left here, as they have all helped us to better our service and allow for a continually growing and successful business.
The Bitcoin space is still very young, therefore there is still much uncertainty regarding regulatory and legal matters across the globe. As you may know, an extended commenting period had been given for the recently proposed New York regulations, and the Canadian Senate has suggested at their recent session that they wait for 5 years before making any definitive rulings on Bitcoin or Bitcoin businesses. After having sought legal counsel from several lawyers, as well as having listened to the public comments and guidance of many prominent and influential members of the Bitcoin community who are currently working with governmental bodies to classify and regulate Bitcoin in the U.S., we have been advised that we should hold off on making any definitive decisions regarding registering as any sort of MSB until further (and more clear) guidance is issued by the federal government for companies that only deal with cryptocurrency. We do not handle any FIAT currency, only cryptocurrency. Because there have not yet been any definitive federal rulings regarding businesses that operate according to our model (LocalBitcoins operates the same way), we are holding off on making any definitive decisions yet, as mentioned. We do not trade any cryptocurrency or USD; we simply act as an arbitrator in order to make sure that customers receive their Bitcoin safely and quickly by publishing proof of our Bitcoin holdings and sending Bitcoin to buyers as soon as they pay the seller for them. We are still a small company with a small team, but we do plan to greatly scale our operations, as well as our fraud-prevention measures. At the moment we are doing what is necessary to protect both ourselves and our sellers from fraud.
As mentioned, we are a very open and public company and can be reached via several methods. You can direct-message us on Twitter, Facebook, and LinkedIn, all of which are in the header of our site.
If you would like to reach either of the administrators of our site, please contact either [email protected] (CEO) or [email protected] (COO). Although we did do our part in extensively attempting to contact you, we would like to waive our 2% fee for this purchase due to what has been an unfortunate and surely inconvenient experience.
Best Regards,
Chad
Joe - October 23, 2014
I took a look at my previous purchases from BitQuick.co and I think I may know what happened to some users who did not receive responses from support (possibly including dave, stillwaiting, and others below).These users claimed that they did not receive replies to their support requests in any reasonable amount of time.
stillwaiting was waiting for over 1 day and dave was waiting for 4 days.
My theory:
BitQuick.co does NOT verify your email addresses with a confirmation email when you buy from them!! This is SUPER DANGEROUS especially when dealing with someone's money!
There's a reason every other website in existence has a link that you must click to confirm that the email address you typed was correct.
Normally BitQuick.co releases the BTC quickly, but if there is some issue with the deposit and they need to contact the buyer, then there's no way to do so.
Buyers should not lose their money due to a typo - that is crazy. BitQuick.co would be 100% at fault here, but at least it's an easy fix.
If stillwaiting and dave were sent an email to an address that was incorrect, then there's no way for bitquick.co to get in touch with them.
Bitquick.co also removes their file upload page after 3 hours and users don't actually have an "account" on the website. Instead, their only proof of purchase is an order confirmation number.
This is a TOP PRIORITY to fix! It's very easy for a mistyped email to be listed in your autofill browser settings. This is an absolute nightmare waiting to happen. BitQuick.co, can you please comment if the above info is correct? Do you let users deposit without confirming their email address doesn't have a typo? Were any of your customers affected by this?
I suggest buyers wait until this is resolved, or at least make sure your email is correct.
kevin - October 22, 2014
wow dave, i just read through your wall of text and if what you say is true, that's very disappointing and i'm very sorry for your loss.i can say that i personally have had no issues with them, so i know that they don't scam everyone.
i never sent them any support tickets and i did receive confirmation emails, so i'm not sure what that issue is.
on oct 11 it looks like someone (not me) had to wait 16 hours.
on oct 12 someone else (also not me) waited 24+ and may have still not received their btc.
i was considering buying a little bit more, but now i'm having second thoughts. (a proof of reserve doesn't stop an exchange from outright stealing)
regarding the msb license, where can you check this info? not saying that i don't believe you, but i do want to see proof that they don't have the license before making assumptions.
if they really don't have a license, that's very scary. they are absolutely running an exchange and are required to have one.
to avoid legal trouble they really should send all btc they currently owe, close shop, get a msb license, then reopen.
bitinstant and mtgox also did not register and we all know what fincen did to them. yes those were bigger fish, but it's still illegal as a small guy.
after reading some more pages on the bitquick.co site, i see no mention of a msb, yet they request gov id as if they were registered.
i don't think they realize that if they don't have a license but still follow the msb rules, they will still be in huge legal trouble.
they will probably be in MORE trouble actually since they request gov id and subject customers now to identity theft!
one reason the msb license requires the business owners to give their own id to the gov is to prevent them from committing identity theft of their customers!
it's actually illegal in some areas to request id without a proper license.
to be honest, i'm not sure why they are afraid of money laundering anyway. their liquidity is way too small for that to even matter (far below the $10,000 threshold)
they should be more afraid of running a msb without a license and then having the balls to request id (and possibly commit identity theft).
i'm really glad that i did not have any issues, but this does not look good and i consider myself lucky
dave - October 22, 2014
===== Comments regarding the legality of bitquick.co =====This is a US based company. I checked with FinCen and they are NOT registered as a MSB!
The issues I'm having seem to be exactly what a MSB was created for - to make sure an exchange doesn't run off with money of a customer!
The MSB puts strict protocols in place to prevent fraud and to make sure a customer will receive their money.
For those that don't know, a MSB classifies anyone who is involved with a virtual currency like bitcoin as either a "user", an "exchanger", or an "administrator". If you ever hold a private key for bitcoin, then you ARE one of these three according to FinCen.
http://fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html
The bitquick website says they are NOT considered an MSB, but FinCen could not be more clear about this. They are violating both the letter and the spirit of the law.
Let's take a look at these classifications as defined directly from FinCen:
1) "A user is a person that obtains virtual currency to purchase goods or services."
2) "An exchanger is a person engaged as a business in the exchange of virtual currency for real currency, funds, or other virtual currency."
3) "An administrator is a person engaged as a business in issuing (putting into circulation) a virtual currency, and who has the authority to redeem (to withdraw from circulation) such virtual currency."
Out of order, let's decide where bitquick.co falls:
Re: 3) Bitcoin is unique in that it is decentralized and therefore has no administrator. Therefore they are not one of those.
Re: 1) They are not obtaining bitcoin to purchase goods or services. That is what I am doing as a customer.
Re: 2) They ARE engaged as a business (They're a registered LLC). They ARE engaged in the exchange of virtual currency for real currency. Therefore they ARE considered an exchanger.
Further down in the FinCen guidance it also states:
"An administrator or exchanger that (1) accepts and transmits a convertible virtual currency or (2) buys or sells convertible virtual currency for any reason is a money transmitter under FinCEN's regulations, unless a limitation to or exemption from the definition applies to the person."
Even if the bank accounts are not theirs, they act as a custodian for the BTC. They fully control the private keys of the BTC. They are therefore an exchange that "accepts and transmits" a convertible virtual currency (they accept it from the seller and transmit it to the buyer).
Also under the de-centralized virtual currencies section:
"In addition, a person is an exchanger and a money transmitter if the person accepts such de-centralized convertible virtual currency from one person and transmits it to another person as part of the acceptance and transfer of currency, funds, or other value that substitutes for currency."
They absolutely do accept virtual currency from one person (the seller) and transmit it to another person (the buyer). They do so as part of the acceptance and transfer of currency or value that substitutes for currency. (Bitcoin is considered a "substitute" for currency acording to FinCen.)
I have my own personal opinions about the FinCen guidance (ones are probably identical to most people here actually), but I wanted to state the above based on the "letter and spirit of the law" without bias.
It is illegal in the US to operate as an exchange without a license. They proudly admit that they have been doing this for over a year.
While I admire their entrepreneurial spirit, they should probably realize that the reason many people decide NOT to create an exchange is due to the HUGE cost associated with the MSB regulations.
These regulations have VERY steep fines and prison time associated with violating them! I do not want to see these young men go through a huge legal battle, but bringing their lack of a license to the attention of authorities may be the only way to receive my BTC. It would be quite unfortunate however they really did bring it upon themselves.
dave - October 22, 2014
It's been 4 days and I have not received my BTC. I also have not received ANY replies to my many support requests. Their dead silence leads me to believe that either they have fallen into a black hole, or they have made off with my hard earned money.From their FAQ:
"It's been more than 3 hours and I haven't gotten my Bitcoin yet! What do I do?
Although we have a standard wait time of 3 hours for receiving your Bitcoin, we are sometimes not able to process orders as quickly as we’d like if we encounter delays. 3 Hours is our standard processing time, and we will usually be able to get your coins to you before then. If it takes longer than that, please hang tight! We’ll have your coins sent soon. We will always send coins within 24 hours if proper payment is made on time and correctly."
IT HAS BEEN MORE THAN 24 HOURS! MY PAYMENT WAS MADE ON TIME AND CORRECTLY!
I wanted to buy something that was on sale with bitcoins, but now I got scammed instead.
I followed their directions EXACTLY. I triple checked the name and account number and the teller even confirmed that it was correct.
I used their own tool to submit a receipt to them well within the allowed time. After not receiving payment as quickly as others (3 hours), I began to get worried.
I have not even received as little as a confirmation email from them.
I recall seeing people on localbitcoins write "No Returns" on their receipts. I found it odd that there was no requirement to do this on bitquick.co, so I took it upon myself do it anyway and give them another copy.
Their upload system no longer worked so I sent them a link to the image.
Still no BTC and no response.
I decided that maybe they wanted a photo instead of a scan of the receipt, so I took a couple photos.
Still no BTC and no response.
I then sent multiple messages requesting that they either release the BTC or tell me what the problem was.
Still no BTC and no response.
By now it's been almost 4 days.
There is absolutely no way that I can reverse this transaction - the deposit was in cash, the receipt says "No Returns" in multiple places, and it's 4 days after the deposit was originally made.
When I placed the deposit, the teller told me that the funds were available instantly. This means that the account holder can withdraw them right now. They have no risk of reversing the funds.
I am just a regular honest guy who wanted to use their service, but got screwed.
Based on the other comments here, it seems like they used to have high quality service, but lately they stopped caring. It is possible that they are also selectively scamming their users. Also, due to the large number of positive comments here compared to elsewhere, it is possible (but not provable) that they made the comments themselves. Be very careful with these guys.
I have not yet filed a formal police report. I figured that just maybe support is not available on weekends.
However, if I don't receive my BTC or a refund today, I will probably be filing one sometime later this week or possibly the weekend when I have more time.
My local police department does not seem to know too much about financial crimes such as these, so I'm not sure who they will refer the case to. This also may be something their district attorney in Ohio would handle.
Just to clarify: I'm not posting this to get help, pity, etc. since this is just a review site. I'll post on a forum elsewhere for help. I'm posting it to caution to others about a possible long con. :(
not sure why my review isn't posting - maybe i need to give them a better rating to be seen wow
kevin - October 22, 2014
all went smoothly and i received my btc. i really wish there was a way to have 'bid' orders. very few number of sellers makes this a very illiquid market unfortunately.
happy person - October 17, 2014
This was my first bitcoin purchase and I chose Bitquick. Everything went smoothly and when the btc was transferred but wasnt showing in my wallet, even though it wasnt Bitquick's fault, they helped me resolve the issue with my wallet provider. they are awesome.
Darren G. - October 16, 2014
have been selling on bitquick for the past few months, never experienced any issues.can sell 3-4 btc/day at 5% above market, cash deposited into my account. never going back to localbitcoins.
stillwaiting - October 12, 2014
Its been over 24 hours and still haven't received my bitcoins. Emailed support twice and haven't received any reply. Sux
Unhappy customer - October 11, 2014
Just a quick update on my recent post. They solved the problem really quick and i have my coins. Thanks!
Unhappy customer - October 11, 2014
I placed an order about 16 hours ago and have not seen my bitcoins yet. I can sent emails to the contact address and have not received any response. I am hoping to get help soon.
Jerry.Delicious - October 8, 2014
Excellent service everytime. Very responsive, would not use any other service, I simply cant find any other BTC marketplace that is better than bitquick, trust me I tried almost everything.
KB - October 7, 2014
Couldn't have been smoother.....had BTC in my wallet within 3 hours of my cash deposit.
Queems - September 30, 2014
They tha Truth..Simple as that Real Deal
Bluemustang - September 25, 2014
Outstanding service. Very fast.
Anonymous - September 5, 2014
Got what I needed. Customer service was very prompt and helpful. Great service that doesn't charge too much for the great quality that it provides.
