QuickBT is yet another Canadian cryptocurrency operation, which purports to be “the easiest way” for Canadians to purchase bitcoins, litecoins and Ethereum. For the time being, these are the three cryptos supported by QuickBT and only Canadians can make use of the service. All through the QuickBT site, clients are referred to as “Canadians” and a Canadian phone number is required to make transactions.
How exactly does QuickBT work?
The operation is indeed as straightforward as it could possibly be: one can buy a limited amount of cryptos directly from the homepage, by simply entering the desired amount of let’s say BTC (currently limited to 0.008) and a BTC wallet address, where the purchased funds can be sent. As far as payments go, they are accepted through online debit cards, wire transfers through most Credit Unions and RBC, through some cards issued by Scotiabank, BMO and TD, as well as through Flexepin Vouchers. While the site says that Voucher PINs are as good as cash, that may not entirely be the case: when we checked for instance, the site said that Flexepin capacity had been reached for that day and that we should try “tomorrow.” Given the massive swings in the prices of all three supported cryptos on a daily basis, having a transaction postponed like that can indeed be quite the pain.
Once all the required details are entered, the QuickBT site provides a live market quote. The costs associated with the service are displayed separately as well and they are added up. The buyer is presented with the total he/she is required to pay. Making the payment is the second step, after which – according to the QuickBT site – the cryptos are delivered to the provided wallet address “within seconds.” This is the part of the QuickBT pitch some users will take issue with. Due to Bitcoin network congestion, continuously increasing user interest and skyrocketing network fees, massive delays have been registered in the actual delivery of the purchased currencies.
QuickBT boasts that it secures buyer bitcoins on demand, thus making sure that the price is always the latest available. QuickBT is a registered and fully regulated business, running on a completely transparent and accountable business model. While QuickBT will not steal your funds, the operation features no refunds whatsoever.
In its FAQ section, the QuickBT site does in fact acknowledge that delays and downtimes may happen.
In addition to the above describes services, QuickBT also offer an API, aimed at developers and merchants. With this help of this API, various Bitcoin-based checkout options can be set up. Donate, Buy Now, Checkout and Deposit solutions can be implemented.
The site is very upfront about the limitations concerning the amount of bitcoins its users can purchase. This limit is currently $200 worth of BTC, per day, per Canadian SIM card.
Is QuickBT Legit?
QuickBT is legit. There are scores of complaints on various forums regarding the services offered by the operation, but most of these complaints are about delays. Obviously, in this day and age of increasing Bitcoin scarcity, it is no longer an easy feat to deliver cryptos to a buyer within a few seconds – as advertised by QuickBT. Long story short: QuickBT is indeed legitimate, despite claims to the contrary by some of its disappointed users.
Should I Trust QuickBT?
With the above in mind, the answer to that is obviously yes. Should you really count on receiving your purchased cryptos within a few seconds, as advertised? Not so much.
Red Flags and Question Marks
As said above, the operation is legit, so there can’t really be any talk of red flags and question marks. QuickBT is regulated and it is keen on compliance. The quality of the service they offer varies wildly apparently, which is the main cause of the atmosphere of discontent among some of the users. That is hardly a red flag, or even a question mark though.
Complaints about QuickBT abound at various crypto forums and community message boards. The operator has found it increasingly impossible to stick to its “cryptos delivered in a few seconds” slogan, and that seems to aggravate many people. One complainer said it took the cryptos he had bought more than 10 days to show up in his wallet, even though the money he had paid for them was picked up within minutes. Such stunts obviously do not help the good name of any operation. With their funds gone and their cryptos nowhere to be seen, people start panicking in short order, and from there, screams of “scam” are only a heartbeat away.
It has to be noted in this regard though that every single one of the scam reports filed by users in relation to QuickBT, have been sorted out one way or another, proving that those who use the service, should simply arm themselves with more patience.
If you see scam reports about the operation out there, make sure you read them through all the way to the end. As far as we know, all such reports have been sorted out. (For instance, check out this Reddit thread.)
QuickBT Review Conclusion
QuickBT is a legitimate Bitcoin, Litecoin and Ethereum acquisition service, aimed exclusively at Canadians. Though limited in scope, the operation works fine: it delivers what it says it will, albeit sometimes delays in this regard can grow quite unnerving.