And so far, Bitit has processed about $60,000 worth of Bitcoin transactions. In this Bitit review, we look at the features and give you our overall verdict of the Bitit platform. The platform has support from The Family (a European group supporting entrepreneurs), the Luxembourg House of Financial Technology, and EY (a global company). Thank you very much for promptly providing the proof of balance.
- For convenience, the support section is divided into categories so there is no need to waste time to find the topic you are interested in.
- Although not all accounts were affected, Bitfinex made the decision to spread the loss among all its clients.
- To actually buy any crypto, you’ll need to undergo the verification process.
- Bitit may not be licensed or regulated, but they have an impeccable reputation in the cryptocurrency industry and employ the latest and greatest security measures.
- At least with our UK registered account, we could only choose to pay either by credit card, with payment vouchers Neosurf or Cashlib, or with a Bitit gift card.
The company initially started out as a P2P margin lending platform for Bitcoin only. Some of the founders and management of iFinex inc. are also related to Tether, the US pegged Stablecoin. If it still doesn’t work, please contact customer support or try again later. If you would like to upgrade to another membership, complete your order, navigate back to the cart to add another membership. It goes against our guidelines to offer incentives for reviews.
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Of the three co-founders, Nicolas Katan is the CEO, Ugo Mare is the CTO, and Simon Potier is the CIO. This allows users to stake or lend their cryptocurrency holdings in an easy way, without needing bitit review to have the technical knowledge or operate staking software. On the other hand, cryptocurrency owners are able to lend their funds securely to traders in order to earn interest on it.
Users need to register their profile in order to unlock higher buying limits of up to 2500€/week. They offer a Bitit gift card paired in Euros which can be redeemed for Bitcoin, but on the downside, fees can get as high as 11.9% for cash vouchers. Without account verification, you can only buy 150 Euros of Bitcoin, and you must verify your account before buying with a credit card. With the proper verification, you can increase your limits to 700 Euros each week with a credit card and 2,500 Euros per week using other payment methods. Bitit is very fair and transparent with their pricing and considering that all of the cryptocurrencies supported on their platform can be purchased with fiat currency, the fees are quite reasonable. The fees imposed on Bitit users varies depending on the payment method being used.
Also, user data and information is protected by advanced SSL encryption protocols and their financial information is never stored on Bitit’s servers. Also, user funds are never stored on the Bitit crypto exchange as they are sent directly to the users crypto wallet upon purchasing. All in all, Bitit is a very safe and secure cryptocurrency exchange with an excellent reputation. Bitit is a French exchange platform that was founded in 2015 by three friends and cryptocurrency enthusiasts. While crypto exchanges such as Binance are often targeted towards traders, Bitit is very clearly targeting itself towards crypto novices. The service aims to make it easy for anyone to buy cryptocurrencies using a credit card or various other payment methods.
But we’ve come across one big sticking point in the logic of the Bitit business model. More recently, it was revealed that Bitfinex lost access to $850 million worth of their customer funds, due to one of their payment processors – Crypto Capital – having funds seized by Poland, Portugal and the USA. This situation persisted for weeks, leading to client complaints and all kinds of distortions in Bitfinex’s pricing. Normal service was eventually restored—although US dollars and US customers are no longer accepted by Bitfinex as a result of these banking headaches. For those who wish to trade major amounts ($100,000+) of cryptocurrency privately, Bitfinex provides an over-the-counter trading facility.
You’ve gone onto the Bitit website for a first look and realized you need a wallet. You’ve nailed setting one up for yourself, and now you’re there, clutching your new wallet address, ready to make your first foray into cryptocurrency using the Bitit platform. Users must have their own wallet addresses to buy crypto on Bitit.
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If you do not want to use a different payment method or choose to give cryptocurrency as a gift, you can instead get a BitIt Gift Card. BitIt has several partners that sell the gift cards, including The Good Gift, Avangarde, and Ma Carte Cadeau. You can then receive your gift card via email or snail mail, depending on your preference. Once you have the gift card, head to BitIt to redeem it into the cryptocurrency of your choice.
Bitfinex Review Summary
Like Flexepin, Neosurf makes vouchers that let anyone use cash to buy a special gift card. That card can then be used to make one-time purchases on the Internet. But Neosurf is already more widely in use, which means it can give Bitit access to its 100,000 store partners. At least with our UK registered account, we could only choose to pay either by credit card, with payment vouchers Neosurf or Cashlib, or with a Bitit gift card. While “exchange” is the only word we have to describe Bitit, it’s not a typical exchange like Coinbase or Bitstamp. Bitit is just a fiat-to-crypto service that allows you to buy crypto and deposit the funds in your own wallet.
Log into your BitIt account and enter the voucher code, then claim your cryptocurrency. The delivery is always express, with the assets arriving in just minutes. On the other hand, if you’re an experienced cryptocurrency trader, Bitfinex likely offers everything you’ll need and more. The high cryptocurrency liquidity combined with advanced features such as margin funding, leverage, and multiple order types makes it a great trading platform. They refused this statement as well.They replied to me saying that they cannot locate my address on google maps.
What Are BitIt Gift Cards?
To actually buy any crypto, you’ll need to undergo the verification process. This process involves submitting a scan of your passport, together with a selfie of you holding up your password and a piece of paper with the word “Bitit” written on it. By this stage, most seasoned crypto enthusiasts are probably scratching their heads and wondering “But what’s the point then? ” What’s important to understand is that Bitit is not marketing itself towards the seasoned crypto enthusiast. It is firmly trying to establish itself as a platform that opens up the world of crypto to new entrants, even to those who would otherwise be unable to access it.
Therefore, as cryptocurrency regulations mature, we have no doubt that Bitit will be ready to be fully licensed and regulated. Also, the Bitit crypto exchange has already built up a viable reputation in the industry and is trusted by many. However, how do you know if Bitit is the right cryptocurrency exchange for you? It’s hard to know, which is why we have compiled an in-depth review of the Bitit crypto exchange for your benefit below. Bitit features a very simple and fast web based exchange platform that can be accessed from any computer via the web browser interface.
They can buy up to $500 after that, but must submit a series of documents to confirm their identity in the system.
In April of 2017, Bitfinex’s bank accounts were frozen by its correspondent bank, Wells Fargo. One year later, all clients were fully compensated—at least those who’d held their BFX tokens, which represented IOUs from Bitfinex. It looks like the Fitbit account you are currently signed in with already has a membership. If you are trying to purchase a membership for another account, please sign in with that account before making a purchase.