To this end, Bitit aims to make itself as easy to use as possible. According to the company blog, it’s targeting as many local currencies and languages as possible to widen the net for potential new adopters of crypto. You can then select your payment method from the drop-down list, enter your amount and wallet address before submitting payment.
Bitit is a global cryptocurrency exchange that allows users to quickly and easily buy Bitcoin (BTC) and other cryptocurrency assets. The Bitit exchange is built for people looking to get into cryptocurrencies by offering a simple and easy solution to buying crypto with fiat currency. The Bitit crypto exchange was launched in 2015 with the vision of spreading mainstream cryptocurrency adoptions to all parts of the world. Since the exchanges establishment, they have grown tremendously and now support numerous local payment methods around the world, support various fiat currencies, and offer their services in numerous languages. Bitit is based out of France with their headquarters located at 25 Rue du Petit-Musc, Paris, France. Unfortunately, Bitit is not a licensed or regulated cryptocurrency exchange or money services business, but they do follow all of the regulatory rules and guidelines required for regulation.
It doesn’t offer a crypto-to-crypto service, and you cannot use it to sell your cryptocurrency. The Bitit platform shows a price chart and order history and is intuitive to use, but it is not a proper trading platform. To get started, users have to fill in a simple form and that’s it.
The key to Bitit’s process is that it has arrangements with partners (it can’t reveal the names) to buy Bitcoins on a regular schedule. At the moment, many users have been reporting that it can take a week or more for the Blockchain to process a transaction. Bitit eliminates that delay for users by having the Bitcoins ready to deliver in as little as 10 minutes. To get around these problems and extend the potential benefits of Bitcoin to everyone, Bitit now lets people walk into physical stores and buy the virtual currency with cash. The startup also lets people purchase Bitcoins online through the company’s website. Given the high fees, Bitit is highly unlikely to appeal to any seasoned crypto traders or investors.
- Got this basic scam message straight from their own verified support email.
- Then, I stumbled upon bittit.io and in just a few easy steps and minutes, my transaction went thru!!!
- Bitfinex users are able to borrow and trade with up to 3.3x leverage through the site’s P2P (Peer to Peer) margin trading platform.
- Also, user data and information is protected by advanced SSL encryption protocols and their financial information is never stored on Bitit’s servers.
- Bitit is a cryptocurrency exchange based in France that provides users with trading opportunities for Bitcoin and Ethereum.
I also appreciate your helpful tips on using the Bitfinex reporting application. I find Bitfinex’s services to be very thoughtful, and it instills a great deal of trust. However, there has been a lot of criticism about the exchange throughout the years, mainly about the transparency of their bitit review business and their close relation to the stablecoin Tether. It always feels as if they are hiding something without the ability to actually prove it. After looking hard at the ToS and FAQs, the only country explicitly excluded from using the services is the United States of America.
How to Buy on Bitit
Their website recommends the Ledger Nano S for security, which is admittedly a great wallet used by many. Plus, we all know that storing crypto on an exchange is generally a bad idea. They offer EV SSL certification for the web page, two-factor authentication, and strict verification procedures, and they do not store account passwords or card numbers.
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The company currently has the Bitcoin gift cards for sale as part of a trial at La Maison du Bitcoin in Paris, a meetup space for people working on projects related to the virtual currency. Bitfinex requires verification for Tether usage and expedited cryptocurrency withdrawals. However, the exchange remains perfectly usable for those who only wish to provide an email address. From the start, Bitit says it is available in any one of 100,000 stores, thanks to a partnership with Neosurf.
Limits
Bitit partners with a Level 1 PCI service provider, maintains bank level security, is regularly audited and tested, and provides ongoing training to all staff. The Fees aren’t the greatest when compared to other types of exchanges, but you are paying here for ease of use and ability to purchase using Debit / Credit cards and the wide array of other payment options. Bitfinex supplies its users with an extensive knowledge base and a ticket based support center. Its average TrustPilot score shows that it’s doing a relatively good job in maintaining user satisfaction (most exchanges receive a “poor” rating). As for the more advanced levels, a deeper KYC process including a ‘proof of address’ is required. However, since the list of available countries is nowhere to be found on their site, you’ll only be able to tell whether you’re eligible or not once you’ll go through their verification process.
What Are BitIt Gift Cards?
Specific methods include Maestro, Mastercard, Visa, TrustPay, CashLib, and Neosurf. The company is also working on integrations with different payment providers to enable easier cash payments for countries that don’t have a large base of credit card users. Bitit even offers gift cards, so you could give your Granny the opportunity to buy her own bitcoins on Bitit as a Christmas gift if you like. Bitit allows users to buy BTC and ETH online using cash, a credit or debit card, wire transfer, e-wallet, Neosurf, or Cashlib prepaid vouchers.
Bitfinex has denied the claims, sending an open letter to its users a day after, saying that the attorney general’s office letter is filled with inaccuracies and false assertions. The key difference between Gox and Bitfinex is that the latter made its clients whole. Although not all accounts were affected, Bitfinex made the decision to spread the loss among all its clients. Bitfinex features an advanced, customizable GUI, over 50 trading pairs (e.g. BTC/ETH), and plentiful order types, such as limit, market, stop, stop-limit, trailing stop, fill or kill, and scaled orders. High volume is important for traders, as it ensures a low spread, which is the difference between the best bid and ask prices. Bitfinex was founded in the British Virgin Islands in 2012 by iFinex inc and it is headquartered in Hong Kong.
It is not my problem that they fail to locate my address on google maps. Right now there is ONLY 8 documents.This company is totally fake and completely fraud and weak.You should really consider steering away from such unprofessional behavior. You’ve probably worked out by now that your best option is to use your credit card to buy a Bitit gift token. You can then use that to make your cryptocurrency purchases, taking advantage of the lower fees and higher purchase limits.
Your agent was very fast to respond and…
Also, users can further reach out to Bitit through their social media channels including Facebook and Twitter. BitIt is working to expand the availability of the gift cards, so merchants can contact the team to begin offering this service. As gift card support expands, BitIt will become even more useful, making it simple to buy your favorite cryptocurrency with cash. In addition to the ability to purchase cryptocurrency via the BitIt marketplace, users can also take advantage of the platform to buy it locally. If you click on “Buy near you” at the top of the page, you can find stores selling BitIt Gift Cards, CashLib, and Neosurf. You just go the store and buy your voucher with your payment method of choice, including cash.
There are enough options available for occasional traders, but not for professionals. There is no verification needed for the first 25€ BTC purchase, but for larger sums, users must provide ID verification. Very easy to use service, verification of account and cards was very fast. It should be noted that Bitit is not the only company trying to tackle these issues. For instance, BitAccess has deployed Bitcoin ATM machines in the U.S., Canada, and Europe that let folks deposit cash and receive Bitcoins.
As with the options for buying your crypto locally, your cryptocurrency will be delivered within minutes after you redeem your gift card. Bitit provides their customers with exceptional customer support via a variety of methods. For instance, users can contact support via email, live chat and telephone 24 hours a day, 7 days a week. The support received is very informative and quick to respond. Additionally, users can browse the websites extensive help center and FAQ pages for loads of informative and very helpful information regarding Bitit’s services and cryptocurrencies.
See the applicable fees for the various payment methods below. BitIt prides itself on keeping all pricing and commission fees transparent. Fees can be as low as 2.5 percent, so more of your money goes toward your cryptocurrency purchase, delivering a great value. Purchases will have a 3 percent fee with TrustPay, a 6.9 percent fee for buying online with a credit card, and a fee of 5.9 to 11.9 percent for payments with Neosurf or Cashlib. Remember, you may also have to pay fees charged by a store in exchange for a prepaid voucher or for foreign exchange or foreign transaction fees that your financial institution charges. Keep that in mind if you choose to purchase in a currency that is not Euro.
It’s an exchange we recently featured in our Alternatives to Coinbase collection so we thought we’d take a closer look at this exchange. You can also get access to advanced charting functionality and API access. These features combine to make it a popular exchange with more sophisticated cryptocurrency traders. Bitfinex is an advanced, veteran cryptocurrency exchange with a haunted past of hacks and allegations. The exchange is well-suited for advanced traders and also supplies the option for margin trading and lending. This exchange platform is available around the world, delivering cryptocurrency to the “remotest places.” No matter where you are, you can pay in local currency and will be able to enjoy high liquidity and limits.