For today’s Customer of the Week, we had the pleasure to speak with Daren Hebold, the CEO of LUXOLO – an in-person Desk Exchange and Bitcoin ATM.
Blox customers understand the inherent need to have access to sophisticated accounting software and services. Cryptocurrency service and exchange providers are one of the most important components in the blockchain ecosystem, allowing users around the world to buy, sell and trade crypto assets. In LUXOLO’s case, they add a level of personalization by giving investors and face-to-face experience that is rare in the crypto world.
We get to learn about their company, product and how they are using Blox for their bookkeeping, general accounting, reporting and meeting today’s essential tax and accounting obligations.
Without further ado – we introduce LUXOLO!
What is LUXOLO?
LUXOLO Financial is a unique cryptocurrency exchange that offers in-person transactions at the downtown financial district of Portland, Maine. Customers can come in with any amount, ranging from USD $10 to $1M+ and after KYC, they efficiently exchange them into bitcoin, including an orientation on how to secure, manage and use their new money.
Tell us about yourself; What is your role at the company?
I’m Daren Hebold, Founder & CEO of LUXOLO. We started this business in order to make it easy and safe for anyone to invest in and use bitcoin. Founded in 2018 and self-funded, we have achieved that stated goal as well as profitability and sustainability. I am grateful to be a material participant in creating the tools, infrastructure and rails to facilitate the bitcoin economy.
What does your company do? What is your core offering or value proposition?
While we offer sophisticated cryptocurrency exchange services together with regulatory compliance, we render this in an approachable and friendly, “Main Street”, bricks-and-mortar retail storefront. Customers choose us and are willing to pay our higher fees over online crypto exchanges because we provide invaluable guidance and personalized advice. The majority of our clients become routine repeat customers.
What is the future for your company’s specific industry?
In addition to basic crypto exchange services and at the request from countless clients, we are developing a significant new service line. Soon, LUXOLO will offer Non-Custodial Cryptocurrency Asset Management which will enable clients to safely HODL in a multi-signature wallet, and/or to invest in any number of qualified investment options in the emerging Bitcoin Capital Markets. It’s a very intriguing value proposition and we have a waitlist of clients who intend to participate when the program goes live.
How is your company using the Blox platform?
Currently, we use the Blox platform to track and manage our Treasury across the many wallets comprising our exchange inventory. It’s clearly the best available platform for wallet management, cost basis calculation, and routine reporting. And because we communicate regularly with the friendly guys at Blox, we are able to help influence new features and services that will be part of upcoming releases.
What challenge has the Blox platform solved for your company?
In addition to being the ideal platform for our Treasury Management, we intend to partner with Blox as part of our tech stack for our Asset Management program. The app is stable, robust and elegant and will serve as an ideal white label solution for the purposes of our new program. That’s all I can divulge at this time, but in summary I will summarize by saying the future looks bright for both Blox and LUXOLO.
You can visit them and learn more online!