Cubits: Difference between revisions

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{{infobox company|name=Cubits|image=[[File:Cubits.png|256px]]
{{ambox
|industry=[[Bitcoin Platform]]
| type  = warning
|foundation=2014
| text  = '''Warning: Cubits has terminated its exchange operations and filed for bankruptcy as of December 11, 2018.''' The platform is no longer active.<ref>https://www.facebook.com/CubitsHQ/posts/1480335922100663?__tn__=-R</ref>
|location= London, UK
|parent=[[Dooga LTD.]]
|website=https://cubits.com
}}
}}
{{infobox company
| name        = Cubits
| image      = [[File:Cubits_Logo_square.png|200px]]
| industry    = [[:Category:Payment Processors | Payment Processor]], [[eWallet]]
| foundation  = 2014
| founder    = [[Tim Rehder]], [[Julian Mautner]], [[Andreas Lehrbaum]]
| employees  = 50+
| location    = London, United Kingdom
| website    = [https://web.archive.org/web/20190101000000/https://cubits.com/ Archived Cubits Website]
}}
'''Cubits''' was 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 in January 2015.<ref>http://bitcoinscientist.com/cubits-web-app-launch-aims-accelerate-bitcoin-buying/#sthash.AYcBwi0o.dpbs</ref>
Since its launch, Cubits had been one of the fastest-growing Bitcoin marketplaces in Europe. However, as of **December 11, 2018**, Cubits ceased operations and filed for **bankruptcy**.<ref>https://www.finextra.com/newsarticle/33130/cubits-goes-into-administration-after-losing-32-million-to-alleged-fraud</ref> The platform was a UK-registered company and operated as a **Telecommunications Digital & IT Payment Service provider** in compliance with **UK Money Laundering Regulations**.<ref>http://tyba.com/company/cubits/about/</ref>
== Closure and Bankruptcy ==
In 2018, Cubits suffered a **€32 million loss** due to an alleged fraud incident, which led to financial difficulties and ultimately its **shutdown**.<ref>https://www.coindesk.com/cubits-enters-administration-amid-alleged-32-million-fraud</ref>
== External Links ==
* [https://web.archive.org/web/20190101000000/https://cubits.com/ Archived Cubits Website]
===Service Description===
Cubits was offering 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.
===Cubits Wallet===
The Cubits wallet was a web wallet which allows Cubits users to buy, sell and monitor their Bitcoins.<ref>[https://cubits.com]</ref> Users could 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.
===Features===
*Easy-to-use interface
* Visa and Mastercard supported
*Support for 17 currencies <ref> [http://www.igamingbusiness.com/news/softswiss-and-cubits-bitcoin-payments-partnership] </ref>
*Seamless Wallet and Payment Modules <ref> http://www.icetotallygaming.com/news/cubits-goes-ice-totally-gaming-2015-and-announces-partnership-softswiss</ref>
*Instant BTC transactions
*Buy/Sell up to 150EUR with only SMS verification
*2FA and Multisignature Security <ref>http://www.slideshare.net/Cubits_BTC/cubits-wp-paymentprocessorv3</ref>
*All customer Bitcoins kept in deep cold storage <ref>http://www.coindesk.com/cubits-app-launch-aims-accelerate-bitcoin-buying-europe/</ref>
*New addresses for individual transactions <ref>http://bitcoinchaser.com/cubits-bitcoin-payment-system-making-strides</ref>
==External Links==
* [https://web.archive.org/web/20190101000000/https://cubits.com/ Cubits] website
[[Category:EWallets]]
[[Category:Wallets]]
[[Category:Exchanges]]
[[Category:Shopping Cart Interfaces]]
[[Category:Services]]
[[Category:Frontends]]
[[Category:Clients]]
[[Category:Mobile]]

Latest revision as of 13:38, 22 February 2025

Warning
 Warning: Cubits has terminated its exchange operations and filed for bankruptcy as of December 11, 2018. The platform is no longer active.[1]


Cubits
Industry Payment Processor, eWallet
Founded2014
HeadquartersLondon, United Kingdom
Founder(s)Tim Rehder, Julian Mautner, Andreas Lehrbaum
Employees50+
WebsiteArchived Cubits Website

Cubits was 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 in January 2015.[2]

Since its launch, Cubits had been one of the fastest-growing Bitcoin marketplaces in Europe. However, as of **December 11, 2018**, Cubits ceased operations and filed for **bankruptcy**.[3] The platform was a UK-registered company and operated as a **Telecommunications Digital & IT Payment Service provider** in compliance with **UK Money Laundering Regulations**.[4]

Closure and Bankruptcy

In 2018, Cubits suffered a **€32 million loss** due to an alleged fraud incident, which led to financial difficulties and ultimately its **shutdown**.[5]

External Links


Service Description

Cubits was offering 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.

Cubits Wallet

The Cubits wallet was a web wallet which allows Cubits users to buy, sell and monitor their Bitcoins.[6] Users could 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.

Features

  • Easy-to-use interface
  • Visa and Mastercard supported
  • Support for 17 currencies [7]
  • Seamless Wallet and Payment Modules [8]
  • Instant BTC transactions
  • Buy/Sell up to 150EUR with only SMS verification
  • 2FA and Multisignature Security [9]
  • All customer Bitcoins kept in deep cold storage [10]
  • New addresses for individual transactions [11]


External Links

  1. ↑ https://www.facebook.com/CubitsHQ/posts/1480335922100663?__tn__=-R
  2. ↑ http://bitcoinscientist.com/cubits-web-app-launch-aims-accelerate-bitcoin-buying/#sthash.AYcBwi0o.dpbs
  3. ↑ https://www.finextra.com/newsarticle/33130/cubits-goes-into-administration-after-losing-32-million-to-alleged-fraud
  4. ↑ http://tyba.com/company/cubits/about/
  5. ↑ https://www.coindesk.com/cubits-enters-administration-amid-alleged-32-million-fraud
  6. ↑ [1]
  7. ↑ [2]
  8. ↑ http://www.icetotallygaming.com/news/cubits-goes-ice-totally-gaming-2015-and-announces-partnership-softswiss
  9. ↑ http://www.slideshare.net/Cubits_BTC/cubits-wp-paymentprocessorv3
  10. ↑ http://www.coindesk.com/cubits-app-launch-aims-accelerate-bitcoin-buying-europe/
  11. ↑ http://bitcoinchaser.com/cubits-bitcoin-payment-system-making-strides
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