BitQuick this week announced integration with two factor authentication security firm Clef.
Clef is becoming increasingly popular for Bitcoin companies who are interested in growing their audience. 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.
Like ShapeShift.io, BitQuick’s main selling point is speed – that it lets users buy bitcoins rapidly. BiQuick believes the slowness of other services is rooted in their fraud-prevention systems. In contrast, BitQuick reports that it uses 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.
Brennen Byrne, CEO of Clef, commented:
Everyone in the ecosystem is talking about friction, and how we can reduce the friction in using Bitcoin. 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.
Jad Mubaslat, CEO of BitQuick, added:
For us, Clef is more than just an evolved two-factor solution. 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.