After Backpage was attacked, users flowed to Bitcoin trading platform BitQuick

It’s been a busy week for BitQuick: its customer base has expanded from 50 monthly active users earlier this year to 500 monthly active users today, while the company announced a partnership with security-focused Coinkite.com, which will allow Coinkite.com users to now access the BitQuick platform directly from the Coinkite wallet interface.

Privacy is the core of everything

The partnership between Bitquick and Coinkite allows new users to acquire Bitcoin in a p2p manner without leaving the Coinkite user interface. Coinkite wallet users log into their wallet, click “Buy Bitcoin” and select BitQuick as their payment option.

杰德•穆巴斯莱特, CEO and co-founder of BitQuick, said:

“Our partnership with Coinkite allows us to automatically pull a user’s address from Coinkite, eliminating the need for new Bitcoin users to understand Bitcoin addresses. Previously, users had to visit an external source to purchase Bitcoin and provide their Coinkite wallet address.”

For Jade, it is not easy to simply explain to newcomers what a Bitcoin address is, as newcomers will still be confused. Therefore, he said, "Both our companies feel that it is important to remove this step."

“Our partnership is great for newcomers because they now have the best of both worlds in how to trade Bitcoin while still being decentralized. Coinkite.com is the central point that connects you to your multi-signature wallet and merchant services, and is the only place to buy and sell Bitcoin.”

In the struggle to maintain privacy and security, hardcore Bitcoin enthusiasts have been working to balance the convenience and anonymity of Bitcoin transactions. Coinkite currently sells a variety of products, from multi-signature vaults to Bitcoin transaction terminals, and recently announced the launch of a new product, the "Tor Bitcoin Payment Button." This adds another privacy factor for users, who can purchase items or donate without worrying about the amount of the transaction being disclosed (except to the receiving entity).

Given that 40% of BitQuick's traffic comes from mobile terminals, the company has also considered launching a BitQuick iOS app. Jade said: "Monthly trading volume has increased 5.7 times from $100,000 at the beginning of this year to about $570,000."

The Battle for Backpage

Jade admitted that the increase in Bitcoin transactions on his platform was also closely related to the fact that Backpage was previously attacked by Visa and other credit card companies, and digital currency became the only payment method on the website.

Jed says:

"Both of our companies noticed that we were each serving a number of Backpage.com customers, so it was a natural idea for us to work together to allow customers to complete transactions through a single portal. Backpage.com is sending customers to both of our sites, and we are seeing rapid growth, with a record increase of 115 customers on July 27, and are processing $600,000 in transactions per month."