btcQuick - News Update 09-17-2013
Another exciting month for bitcoin and for btcQuick.
Sales for 09-01-2013 to 09-15-2013 were $ 251,062.96
We had a total of 1459 orders during this period.
We added 235 Bronze, 37 Bronze+ and 12 Silver level customers. This brings our total number of verified members to 2,544. If we take the revenue divided by the number of verified users we get an average of $ 197.37 per customer per month.
We are currently using a different pricing model that is very close the the bitstamp pricing and we seem to be getting a good response from our customers.
We have also launched instant verification methods which allow new members to get verified without having to wait manual review. Instant verification can be done two ways. The first is by completing verification questions. The second method is by linking a verified miiCard account. Both of these verification methods are free. Currently the site does not promote these as the main way to get verified but we are working on a new membership page that will incorporate these new features.
We are currently growing at a good pace and are trying to scale our growth with our service. We are looking to hire a full time developer around the first of the year along with a dedicated customer service rep.
I finally received a response from ZipMark and at this time they are not going to allow any bitcoin merchants to use their service as a method of payment to
purchase bitcoins. We are still working with them to integrate payments for customers that decide to sell btcQuick bitcoins.
The Dividend for this period will be 147 BTC. The reason for the decrease is we had some chargebacks that we were unable to win. We are still maintaining a very low chargeback ratio of 0.175%. We also had to pay setup fees to use the Knowledge Based Authentication Questions. We are moving away from the manual verifications and pushing to have everyone use the automated methods as this will reduce our risk and align us for regulatory compliance.
New Features Launched:
- Send directly to your bit coin address!
- Instant membership verification
- Knowledge Based Authentication
- miiCard Integration
Future Features/Goals:
- Affiliate Program
- Buy/Sell BTC with Bank Account via Zipmark
- Miner Bitcoin Address that auto converts to USD.
- Merchant Services/API
- Re-designed Site for better user experience