But we’ve come across one big sticking point in the logic of the Bitit business model. The Bitit exchange is registered under the name Bitit SAS and incorporated in Paris, France. As you can see, Bitit is available in tons of countries worldwide including the United States, the UK, Canda and Australia. This makes it a brilliant global cryptocurrency exchange as it doesn’t prohibit any of the major nations.

bitit review

As such, CoinMama allows users to instantly purchase BTC, following the creation and verification of their account. On the front page, visitors are welcomed with pre-set BTC purchase options – 100EUR, 500EUR, 1,000EUR and a custom amount. The platform also facilitates the purchase of other popular cryptocurrencies. In terms of selling, only the sale of BTC is permitted at this point in time, via SEPA bank transfers for European banks.

Other Crypto Shops

Bitit supports all major card networks including VISA, Mastercard, Maestro, and Amex. Using a bank account is accomplished through TrustPay and is only available for EU users. One can also use a Bitit gift card or click on Store Locator to find a local shop that will sell crypto over the counter to those who pay with Cashlib, Neosurf, or Bitit vouchers. After the purchase, choose the external wallet you’d like to send the coins to and then Proceed to Payment. In case of the credit card or TrustPay purchases, you will receive a receipt upon which you can track the transfer of bitcoins to your wallet address.

As such, the instant buy feature allows visitors to purchase Bitcoin instantly, via MasterCard and Visa. The process is designed to be as quick as possible, granted that the purchase can be made within a few clicks. Users are given three pre-made purchase options ($200, $500, and $1,000-worth of BTC), alongside the possibility to instantly purchase a custom amount.

In our view, if Bitit really wants to corner a market for beginners in crypto without offering its own wallet, then there is one thing it could do. Given the high fees, Bitit is highly unlikely to appeal to any seasoned crypto traders or investors. After all, low fees are one of the attractions of dealing with cryptocurrencies. As bitit review you’re storing your crypto purchases in your own wallet, the security of your coins depends on the security of your wallet, not of the Bitit exchange. Anyway, let’s put all this aside for a moment and imagine you’re our hypothetical crypto noob. You’ve gone onto the Bitit website for a first look and realized you need a wallet.

These vouchers are apparently available in more than 150,000 stores across the world. CEX.IO, unlike LocalBitcoins and Paxful, is more close to Bitit, as you can buy or sell coins directly from the company. Head over to our guide about CEX.IO’s platform, as we investigate its verification demands, fee structure, countries supported and much more. We also provide step-by-step guides on how to buy and withdraw your coins. Apart from Bitit, there are other exchanges available for you to buy bitcoins.

The platform also has an extensive FAQ section that features answers to most common questions. The support section is divided into categories to help users find the topics they are looking for more easily. If you wish to contact them in person, they do have a physical address in France. It should also be noted that other fees may incur when you buy from a store in exchange for a prepaid voucher or for foreign exchange or foreign transaction fees which your financial institution charges.

The platform was founded by three cryptocurrency professionals, Nicolas Katan, Ugo Mare and Simon Poter in 2015. The platform rose to one of the most poCASHlib pular cryptocurrency marketplaces in the world through support of its strategic partnerships, CASHlib, LHoFT and Ernst & Young to name a few. Bitit is a web service which offers a large variety of payment methods, including fiat currencies, for those that are interested in purchasing cryptocurrencies. The service does pose a rather high fee, so you might want to weigh in your options before going ahead with this service. UK-based bank transfer deposits entail a 1GBP fee, whereas international GBP bank deposits cost 25GBP.

bitit review

Despite being one of France’s leading fiat-to-crypto platforms and serving over half a million customers since its founding back in 2015, Bitit is closing its doors. We use dedicated people and clever technology to safeguard our platform. Have submitted payment for ETH, however purchase was immediately put on hold. I am able to deposit money which I have done, however I am not able to sell my bitcoin and convert it into withdrawable money. Please if somebody may advise me on this, there is no option to press ‘sell’ after I have selected the currency and then amount.

Currently, there is no live chat available for you to use if you face issues at hand. This slows down the trade, especially if the said issue concerns buying process. Check your wallet balance once you are notified that transfer of coins has taken place. Merchants are able to sell Bitcoins through Bitcoin Bitit Gift Card on their store. The platform is supported by The Family , the Luxembourg House of Financial Technology, and EY . Update An eWallet service and a shopping cart interface / payment processing service.

Additional fees are charged when purchasing crypto, depending on your preferred payment option. Generally, card-based purchases are cheaper compared to bank transfers. The main difference between Bitit and LocalBitcoins is that latter exchange is peer-to-peer based, as traders buy and sell coins between each other. The platform offers only bitcoins through various payment methods .

User safety & security

Since Bitit is regulated, there are limits to the amount of cryptocurrencies you can buy in a set period. In this part of the review, I’ll be showing you what the limits are on Bitit. Credit & Debit Cards3.9%EUR Wallet 0.25%Cash Vouchers8.75%These fees are reasonable and low, so I wouldn’t hesitate whatsoever about using Bitit to buy cryptocurrencies. When you’re deciding if you should use a particular crypto exchange or not, one of the most fundamental aspects you need to look at is the safety of it. At the end of the day, what would be the point of using a website which put your funds at risk? In this section, I will delve into the different regulations and safety measures Bitit has in place.

  • It is fast, simple to use, and offers convenient payment methods with cards, bank transfer, a gift voucher, and several brands of cash vouchers.
  • For a beginner, it could be one of the best options, but only if the said beginner is happy to go away and navigate the process of setting up their own wallet.
  • Then, I stumbled upon bittit.io and in just a few easy steps and minutes, my transaction went thru!!!

This makes the experience effortless and reduces the risk of users entering the wrong address and I think it’s a brilliant feature of the Bitit platform. Without account verification, users have a buying limit of 150 Euros worth of Bitcoin. Account verification is required in order to make purchases with a credit card. CoinCorner is fairly safe at this moment, as no cyberattack has led to stolen user funds. However, it’s usually not recommended to transact large amounts on small exchanges, nor should customers rely on exchanges for custodial wallet services. Founded in 2015, CoinCorner represents a simple digital currency exchange that is targeted to European cryptocurrency enthusiasts.

Who is Bitit ideal for?

You wait for about 5 minutes for the transfer to be confirmed and additional 10 to 15 minutes for coins to reach your specified wallet. The first step would be to verify your account if you wish to purchase coins at higher https://forex-reviews.org/ limits than €150. Apart from cryptos, you have numerous fiat currencies that you can choose from when depositing or buying coins at Bitit. You have EUR, USD, GBP, CAD, AUD, CNY, KRW, JPY, TRY, HKD, SGD, SEK, NOK and DKK.

bitit review

The domain name of this website has been registered several years ago. In general, the older the website the more trustworthy it becomes. However, scammers sometimes buy existing websites and start doing their evil thing, so please make sure you check for other scammy attributes as well. It has been “parked” meaning the original website has been removed at the domain name is offered for sale or is simply not used.

When compared with Coinbase’s 3.99%, Bitit definitely comes as a more expensive variant in terms of bank cards. In this quick guide, we go over one of the oldest players in the cryptocurrency industry called Bitit. The platform has many functions and features to offer for traders. Thus, we review its payment ways, service availability, fee structure, security and privacy. At this point in time, EO.Finance offers two standard services – a licensed crypto walled supporting 20+ cryptocurrencies and an exchange service for these coins. The platform can be accessed via its web version, browser plug-in, standalone desktop app, or from iOS and Android mobile devices.

Supported currencies and countries

Also, for withdrawals, users are required to pass an enhanced verification process providing proof of the validity of their identification documents. The Bitit exchange is perfect for anyone who needs to buy cryptocurrencies with a bank card or bank transfer and is suitable for both new and advanced users. Bitit is a great safe way to buy cryptocurrencies globally and comes into direct competition with Coinbase due to the fact that it is cheap, lighnighting-fast and regulated. It provides a simple and easy bridge between fiat and crypto currencies.

Bitit features a very simple and fast web based exchange platform that can be accessed from any computer via the web browser interface. The platform was designed with the uninformed and inexperienced cryptocurrency user in mind. Therefore, it is very simple and easy to use with a step by step process for simply buying and acquiring Bitcoin or other cryptocurrencies.

Verification

TheFamily nurtures Entrepreneurs through education, unfair advantages & capital. They are based in Paris, France and they give us support in order to anticipate and manage our growth. They made a good choice, as we are the first Bitcoin startup hosted at TheFamily. The Bitit Gift card can be redeemed only into Bitcoins, an ubiquitous and versatile currency that can be used with thousands of merchants or that can be sent on another continent like an email.

Bitit was theBroker; Société BITIT started the business in March 2016. The entity was operating for 6 years and 10 months and gained some popularity on the market. The company was based in the France with the headquarters located in Paris.