Cubits has launched a web application designed to speed up and simplify bitcoin transactions.Notably, the London-based cryptocurrency startup allows customers to buy bitcoin in minutes, making it one of the fastest digital currency platforms in Europe, according to the company."We want to speed up the process of getting bitcoin and making online payments fair and accessible, especially for merchants and charities that could really benefit from lower fees," said Andreas Lehrbaum, co-founder of Cubits and the co-founding chairman of Bitcoin Austria.The first products based on the new platform are a consumer-focused wallet and a merchant payment system called Cubits Pay, which have been in beta since October last year.The company said both products were designed with ease of use in mind, so the user interface is geared toward mainstream users as much as early adopters.For security, Cubits indicated that customers' bitcoin funds are stored in offline cold storage and all transactions require multi-signature authentication.

Although much of the focus is on Europe, Cubits supports instant payment options and bank transfers in 17 different currencies, including euros, US dollars, British pounds, Turkish lira, Polish zloty and others.Support for additional currencies is also on the way.Users can choose one of three different instant payment providers – SOFORT Banking, OnlineBankTransfers(OBT) or OKPay to buy bitcoin.lekkerurlaub bitcoinJulian Mautner, co-founder of Cubits, explained the process: "The user specifies an amount of fiat to be converted to bitcoin and finalizes the purchase via the selected payment provider.bitcoin melonThe payment provider interfaces directly with the users' online banking account and notifies Cubits about the payment.mk802 bitcoinBitcoin will then be credited to the user immediately.

We have partnered with several banking institutions who support us with both SEPA and international payments."If the account is already funded, the exchange is instantaneous.Cubits Pay was designed for merchants with a global audience, the firm says, allowing them to leverage bitcoin’s low transaction fees and offer an alternative to credit cards and other established payment options.The service offers free conversion into any supported fiat currency.The platform features a number of plugins for a wide range of popular shopping cart systems, as well as free customer support.Tailored solutions for retailers interested in incorporating bitcoin payments are also available.Cubits is privately funded by the company’s management team, David Julian Mautner, Tim Rehder, Andreas Lehrbaum and Benedikt Manigold, who have prior experience in IT, finance and startup ventures.The team says it is committed to creating a “strong and secure bitcoin marketplace” and intends to use blockchain technology to take part in the transformation of international payments The company has offices in London and Berlin.

Cubits is registered in the UK as an IT payment service provider.Speed is becoming a significant differentiator in the industry, especially in the European market.A number of exchanges have already introduced fast payment options, allowing customers to buy bitcoins faster than ever.Last month Swedish bitcoin exchange Safello partnered with an unnamed British bank to offer faster transfers to UK-based customers.London-based exchange Yacuna also announced a new service, allowing UK customers to use SOFORT Banking for GBP deposits to its trading platform.The only downside of using fast or near-instant services like SOFORT is the relatively high cost, as withdrawals and transfer fees tend to come at a premium.For example, Yacuna users can expect to pay a 4.90% fee on SOFORT deposits, along with a 3.00 GBP withdrawal fee.The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.Have breaking news or a story tip to send to our journalists?

Jump to: , Cubits is a multi-purpose Bitcoin platform for buying, exchanging, storing, and accepting Bitcoin.Cubits was founded in 2014 by Tim Rehder, Julian Mautner and Andreas Lehrbaum and launched after a year in development, in January 2015 [1].Since its launch, Cubits has been one of the fastest-growing Bitcoin marketplaces in Europe.Cubits is a UK Registered company and is registered as a Telecommunications Digital & IT Payment Service provider in accordance with UK Money Laundering Regulations.[2] Contents 1 2 3 4 Cubits offers one of the premier European Bitcoin payment processing services with a secure, user-friendly platform for buying, exchanging, storing, and accepting Bitcoin.Customers are able to buy and sell Bitcoins in 17 different currencies through major payment providers.The Cubits wallet is a web wallet which allows Cubits users to buy, sell and monitor their Bitcoins.[3]Users can instantly purchase or sell Bitcoin with Mastercard and Visa or payment providers OKPAY, SOFORT and OBT, and also have the option to connect their Cubits Wallet to their bank account to increase the ease and speed of buy/sell activities.

Cubits 2FA and multisignature technology to ensure that customer's Bitcoins are always secure.Any Bitcoins stored within a Cubits Wallet are placed in deep cold storage, meaning that in the rare event of an online attack users' Bitcoins are never at risk.Bitcoin services provider Cubits.gr and Greek exchange BTCGreece have teamed up to help Greek citizens move cash out of the country to suppliers and business partners.Founded by Julian Mautner, Tim Rehder, and Andreas Lehrbaum, the companies hope to work around capital controls in the country to get businesses running again in the country.Essentially the team is building a cross-border payments service for the Greek market.They are focusing on small and mid-size businesses.The team is supporting voucher payments backed by bitcoin as well as access to point of sale terminals and ATMs.Essentially they are rebuilding financial transactions using bitcoin as the backing medium.“Cubits is in this for the long run, this is their priority and main focus,” said Rehder.