Hitting the Bullseye: BitQuick’s Strategy

BitQuick, based in Ohio, is strapping on its combat boots while preparing for a showdown with LocalBitcoins. With scams running rampant on the platform, BitQuick is ready to kick the bad players to the curb and carve out a niche for safe, reliable OTC Bitcoin trading.

Raising the Bar on Security

So, how does BitQuick plan to build an impenetrable fortress for its users? Let’s break it down:

• Multisig Addresses: Customer funds are safeguarded with multiple signatures, meaning even digital wallets can’t be one-person-shows.
• Proof of Reserve: Real-time verification ensures customers can trust that their assets are secure.
• ID Verification: Thanks to Jumio’s NetVerify service, they can confirm that the person on the other side of the screen isn’t a character in a bad sitcom.

The Plan in Action

Founder and CEO Jad Mubaslat isn’t just talking the talk; he emphasizes that every transaction over $400 demands valid ID. No sketchy shenanigans allowed! The hope? To divert dubious LocalBitcoins users away from BitQuick.

“We don’t want to serve that user base,” said Mubaslat. Point taken!

Unlocking New Opportunities: The Unbanked Dilemma

One demographic on BitQuick’s radar is the unbanked population, with plans for a new remittance product set to debut soon. This means anyone can trade Bitcoin without needing a traditional bank account—just cash and a Bitcoin address. Talk about a game-changer!

The Boost VC Experience

After being handpicked for the Boost VC accelerator program, BitQuick is getting mentorship from heavyweights like Tim Draper. It’s like being in the NBA but for Bitcoin startups. The goal? To innovate and evolve their product while learning from industry veterans over three intense months.

A Bright Future or Just Bright Ideas?

BitQuick is embracing collaboration, already teaming up with wallet provider Pheeva, and invites newcomers to test their services. But with a lot of competition on the horizon, will they actually be able to dethrone LocalBitcoins, or is it just wishful thinking?

In the evolving world of cryptocurrency, only time will tell. But if BitQuick continues on this path, they stand a fighting chance!