BitQuick Goes Passwordless

Bitcoin Magazine
BitQuick Goes Passwordless

BitQuick is the latest Bitcoin company to integrate Clef’s passwordless two-factor authentication to make logins safe and easy for a big audience.

Oakland, CA – May 26, 2015 — BitQuick, the fastest way to buy Bitcoin, announced an integration with Clef today to protect the accounts on their platform. Clef is becoming increasingly popular for Bitcoin companies who are interested in growing their audience, especially companies on the rise like BitQuick. BitQuick has rapidly grown their volume by circumventing some of the traditional requirements for buying Bitcoin and making the process take hours instead of days. In an industry where every millisecond is tracked to help increase sales, speed is a huge asset both for the company and for the entire Bitcoin ecosystem.

A growing appeal of Clef is the network of sites which already use it. More than 70,000 sites, including popular Bitcoin networks like AlphaPoint, have already integrated Clef. Users of those sites have already gotten rid of some passwords, but actively seek out new sites where they can use Clef. This translates to an influx of new users for sites that integrate Clef and then a steady stream as it is added to Clef’s recommendation engine. The increased traffic had overwhelmed some unprepared sites, so Clef now works to even out the initial spike.

BitQuick’s speed is the headline selling point, but the service has also developed a reputation for spotting and thwarting potential scams. The slowness of other services is rooted in their fraud-prevention systems, so BitQuick has used its volume to focus on learning patterns that help identify fraud and squash it before it happens. Other services leave the fraud detection completely to the users, who cannot have the same high-level perspective and learnings. BitQuick has also integrated with Purse, and Fold to make their speedy Bitcoin purchases available for people making purchases at Amazon or Starbucks.

“Everyone in the ecosystem is talking about friction, and how we can reduce the friction in using Bitcoin,” said Brennen Byrne, CEO of Clef. “But the first Bitcoin purchase is still unforgivably slow on most systems. That’s why we’re so excited to see BitQuick solving the Bitcoin purchase problem. To get more people owning and spending Bitcoin is the key, and I know that Clef users are going to love BitQuick.

BitQuick does not require everyone trading on their platform to make accounts, but the cases where users do need to log in are particularly important to protect. Making two-factor authentication accessible for those users, and also making it really easy to use, helps them build more trust with their users. Typically, sites that offer two-factor auth see fewer than 1% of users opt in to protect their accounts, but sites that use Clef have seen more than 50% of their users opt in to the safer login. To make the process simple and seamless, Clef recognizes a user’s phone instead of anything they need to remember or type.

“For us, Clef is more than just an evolved two-factor solution,” said Jad Mubaslat, CEO of BitQuick. “We’re excited about using Clef to replace confusing passwords altogether. This improves both the experience and security habits of our users.”

A customer can log into BitQuick on any computer in the world by holding their phone up to the computer screen. Clef uses the phone’s camera and an animation called the Clef Wave to seamlessly sync with the computer and log the user in. The process is backed by the same public key cryptography as Bitcoin wallets and is available for free on any iOS or Android device.

About Clef

Clef is an Oakland startup building the two-factor of the future. By taking advantage of the rapid spread of mobile devices, Clef has built technology that is not only much more secure than traditional logins, but also much easier to use. Since 2013, Clef has spread to more than 70,000 sites and received accolades from The New York Times, Inc. Magazine, and The Economist. Clef is funded by Morado Ventures and angels from a broad variety of product and security backgrounds. For more information on Clef, visit getclef.com or email press@getclef.com.

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Coinzone to Launch Mobile Bitcoin wallet Tailored for European Users
coinzone

Amsterdam-based Bitcoin payment gateway Coinzone, which now positions itself as a full-stack Bitcoin solution with a focus on Europe, announced that it will launch its wallet – the core of its upcoming platform – in early summer.

“Our goal is to assist Europe with all that Bitcoin has to offer the world of commerce,” says the Coinzone website.

According to the company, the Coinzone Wallet will make Bitcoin simple for a growing community of European consumers. The fully-featured personal wallet will support country-specific local currencies for bank deposits and withdrawals, transfers and instant payments.

“Growing European demand for Bitcoin means more and more consumers want a simple and secure way to transact,” says co-founder and CEO Manuel Heilmann. “We’ve developed Coinzone Wallet in response to an overwhelming demand from users seeking a wallet that stores their sensitive information locally in Europe.”

The Coinzone wallet has been specifically developed to address privacy and legal frameworks, such as EU privacy, secure payment and data protection laws in operation across the region. All data will be securely hosted in European locations, giving Coinzone Wallet users the assurance of protection under European privacy laws.

“Our aim is to make it easy for European consumers to do more with bitcoin,” added Heilmann. “The Coinzone Wallet is an important milestone for Coinzone towards a full-stack Bitcoin solution. It is set to literally get bitcoin into the hands of consumers so they can transact as and when they wish.”

In a blog post titled “Why We’re Building a Bitcoin Wallet,” Heilmann noted that Coinzone always had more in mind than just building a payment gateway. Coinzone team members run studies to understand the various needs across Europe, and move from country to country to understand the local requirements of European bitcoin users.

“We also hear over and over from consumers that is it too difficult to find places to spend bitcoin,” notes Heilmann’s post. “In every study we conduct at Coinzone, that is one of the top five questions people have. When you combine the rise in mobile usage with merchant adoption, we have an opportunity to create a new experience for consumers looking to spend their bitcoin. Our initial release of the Coinzone Wallet will make a step in that direction. Over time, we’ll continue to learn from feedback in order to enhance this feature.”

According to Coinzone CMO and Vice President of User Experience Paul Sylling, we are moving into an era of “frictionless” spending based on mobile payments, in which consumers expect an experience that is easier and more convenient. Bitcoin matches perfectly with the rise of mobile and new expectations of how payments should work.

“With the launch of the Coinzone Wallet, coupled with our existing merchant network, we position ourselves to reinvent the commerce experience,” Sylling told Bitcoin Magazine. “By building the full stack, we have the opportunity to offer additional unique services to our customers as well as streamline the user experience.”

Sylling confirmed that according to current expectations, the Coinzone Wallet will be launched in early summer, and consumers can already sign up for early access. The wallet, available for Android, iOS and the Web, will include features deemed important for non-technical Bitcoin users, such as language localization, conversion to local currencies, and withdrawals to local banks.

In order to address the problem mentioned by Heilmann – that it’s difficult to find places to spend bitcoin – the planned release includes map-based local search features. To merchants, Coinzone will offer point-of-sale (PoS) solutions to accept bitcoin payments on tablets and smartphones, and interfaces to existing payment processing systems.

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