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. Bitit.io is a solid website that offers a variety of payment options to people that want to get their hands on cryptocurrency without any complications from a standard trading platform.

1. Users can offer funding across a wide range of currencies & assets, at the rate and duration of their choice.
2. Bitit is not like the other exchange platforms like Bitstamp or Coinbase which are commonly regarded as the typical exchanges.
3. If you’re a non-US advanced trader or looking to trade large sums, then Bitfinex is definitely an option.
4. On the other hand, if you’re an experienced cryptocurrency trader, Bitfinex likely offers everything you’ll need and more.
5. However, in all the hullabaloo, some exchanges have left a positive mark on the crypto space.

Sarah ran away from a corporate job so she could travel the world. After doing that, she found herself a much-loved new career as a freelance blockchain technology writer. She’s authored and ghostwritten more than 250 pieces on blockchain and cryptocurrencies.

That was surprisingly fast and easy

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. But as you know, running a crypto exchange is not an easy business to be in. Moreover, being centralized in nature, these exchanges are prone to numerous attacks and hacks.

User and customers wants to know about the standards of the exchange before they begin to use the exchange. So I am going to provide a review of Bitit exchange which will be helpful for the users to know about this exchange. You can then select your payment method from the drop-down list, enter your amount and wallet address before submitting payment. Now that we’ve talked about their verification levels, what features do they have waiting for us? One of the interesting things that we noticed is that you will be able to add several BTC/crypto wallets with the ability to name each one and personalize it. This is great since some people will have multiple BTC wallets and have the ability to label each wallet will make it easier for you to withdraw or deposit from the correct one without any problems at all.

Its average TrustPilot score shows that it’s doing a relatively good job in maintaining user satisfaction (most exchanges receive a “poor” rating). Bitfinex also supports Tether (USDT), the quasi-fiat token unofficially pegged to the US dollar’s price. Bitfinex offers the trading of derivatives contracts, which give traders the ability to speculate on the price of an asset, without buying or selling it outright.

The high cryptocurrency liquidity combined with advanced features such as margin funding, leverage, and multiple order types makes it a great trading platform. Bitit operates legally in more than 50 countries around the world including the UK, US, and most of the EU (given that it’s a French company). Additionally, Bitit support operates in several languages and is able to quickly verify IDs and passports from virtually anywhere. BitIt is working to expand the availability of the gift cards, so merchants can contact the team to begin offering this service.

I have bought cyrpto from many different merchants, and this so far has been the best experience. I was verified within minutes and had my purchase completed successfully and in my wallet only seconds after completing the transaction. What’s even better is that I was able to purchase my altcoin of choice rather than have to buy BTC first and then pay an exchange fee.

I see a potential in this exchange, but slow verification process

2FA has become one of the things that we need to make sure exists since it’s really important to have this installed in your online financial accounts. Compared to other websites wherein you just need to click a few buttons to have it turned on, here you need to download the Google Authenticator App and follow the steps instructed here. They refused this statement as well.They replied to me saying that they cannot locate my address on google maps. It is not my problem that they fail to locate my address on google maps.

In the near future, they plan on adding other coins like LTC, XMR, and XRP. The exchange is open for international registrations with numerous deposit options that support 7 fiat currencies. Bitit offers simple, fast, and secure cryptocurrency purchases. Bitit crypto exchange with its several bitit review facilities is gaining the trust of the customers. The customers are provided with fair payment methods and with the easy process of purchase. Although it has some disadvantages like high fees and a limited supply of assets, it is still getting a good response from the customers.

Verification with Bitit.io

They have taken their security game to another level since the hack and have also repaid the customers who lost their money, but you should not take chances. Always store your coins in a hardware wallet or keep it under self-custody. Bitfinex is a multi-coin exchange and has many advanced features that a newbie might not require when starting cryptocurrency trading. Bitit does not explicitly prohibit US-investors from trading on its exchange. In any event, all US-investors should still do their own independent analysis of any problems arising from their residency or citizenship.

On the checkout page, users are able to choose from BTC, ETH, BCH, ETC, LTC, NEO, XRP, and XMR making it one of the largest exchanges today offering more than just a couple of choice for you to choose from. Bitit is connected to live markets and offers real-time pricing for buying customers, but selling cryptocurrencies is not available and so liquidity is less of an issue. Fees here at Bitit.io are completely dependent on what payment method you decide to go with. Compared to a lot of exchange websites today, they are definitely part of the few ones that are high on the fees but provide a lot of payment alternatives to make it easier for you to purchase crypto on their website. Bitit provides their customers with exceptional customer support via a variety of methods.

The email support is available for customers who cannot fully understand the conditions and terms of the exchange. Creating a Bitit account is simple and can be done by clicking on the Sign Up button at the top right corner of the company’s homepage. You’ll need to give your first and last name, a valid email address and then pick a safe password.

its bitit all the way..

In addition to writing and researching, she also runs her own websites – find out more at sarahrothrie.com. Therefore, simply providing recommendations for some alternative hot storage wallets more suitable for beginners, such as Jaxx or MyEtherWallet, would be one easy way for Bitit to make itself more welcoming to newbies. It may take a few days for the verification process to complete.

But we’ve come across one big sticking point in the logic of the Bitit business model. 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.

Margin Trading on Bitfinex

Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. 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. Have been trying to purchase bitcoin for hours now, no actually a few days and after going through so many steps and so much aggravation nothing seemed to work.

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. 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. See the applicable fees for the various payment methods below. After saving a wallet, return to the Buy screen to initiate a purchase.