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Bitcoin Cash [BCH] integrated on peer-to-peer trading platform BitQuick

ambcrypto.com 23 January 2019 21:00, UTC
Reading time: ~3 m

BitQuick, the over-the-counter cryptocurrency marketplace has increased its coverage by adding the fourth largest cryptocurrency in the market, Bitcoin Cash [BCH] to its platform. This inclusion will allow peer-to-peer purchase and trading of BCH in less than three hours, BitQuick claims.

The marketplace is owned and operated by Athena Bitcoin, which operates Bitcoin and other cryptocurrency ATMs in the US, Columbia and Argentina. Athena Bitcoin also operates Mercado Athena, another BTC marketplace.

Additionally, BitQuick is also used by traders to convert digital currencies to fiat or vice versa in the following countries: US, Canada, Europe, Russia, and Australia.

BitQuick is pegged as a “relatively decentralized” platform as it offers Localbitcoins’ like multi-signature escrow system which allows it to operate relatively freely in the US’ regulatory atmosphere while adhering to the Know Your Customer [KYC] requirements and transactions limits.

At the moment, BitQuick operates in 49 states in the US, with New York being the only exception. Back in 2015, the peer-to-peer Bitcoin market place ended their New York operations as they could not comply with the state’s BitLicense that required every local Bitcoin seller to apply for a license.

The marketplace also accounts for privacy as they do not store their client’s private keys, relying on escrow settlement to generate them. Customers will be allowed to trade up to $250,000 using P2SH [Pay to Script Hash] multi-signature addresses.

In order to gauge the market demand and accordingly expand their cryptocurrency coverage, BitQuick will send out a survey to traders before adding on to their Bitcoin and Bitcoin Cash markets.

The BitQuick announcement comes right when Bitcoin Cash has been enjoying a bullish market, as it saw a price increase of more than 7 percent in the past 24 hours. The overall market has increased by over $2 billion as major coins are awash in green, with BCH leading the charge as the highest gainer in the top-10.

In recent news, Bitcoin Cash proponent and CEO of Bitcoin.com, Roger Ver sparked controversy by comparing Bitcoin [BTC], in its original form, going by its 2009 whitepaper, to Bitcoin Cash in its current form as the only true, “peer to peer electronic cash system for online payments.”

The Bitcoin community on Reddit accused Ver of “borderline scamming” new and uninformed investors who want to invest in Bitcoin and not in its hardfork Bitcoin Cash.

The online community has also credited Ver’s website Bitcoin.com as one of the main mouthpieces of the pro-Bitcoin Cash narrative. Last week, one outspoken critic John Carvalho, known in the community as Bitcoin Error Log, challenged Ver to a “fight” with the rights of Bitcoin.com hanging in the balance.

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