Bitit Reviews Read Customer Service Reviews of bitit io 4 of 19
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 bitit review 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.
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The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders. The platform has support from The Family (a European group supporting entrepreneurs), the Luxembourg House of Financial Technology, and EY (a global company). Using the platform is as simple as signing up, completing the profile to increase your buying limits, and getting ready to use the intuitive interface. Bitit complies with the Payment Card Industry Data Security Standard, meaning your credit card details are safe on the Bitit website.
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. In this Bitit review, we look at the features and give you our overall verdict of the Bitit platform. So far so good, this was fairly simple to set up and understand and navigate.
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- After all, low fees are one of the attractions of dealing with cryptocurrencies.
- I was verified within minutes and had my purchase completed successfully and in my wallet only seconds after completing the transaction.
- You have credit and debit cards that take additional 6.9% form customers when used.
- Fees here at Bitit.io are completely dependent on what payment method you decide to go with.
- BitIt requires client verification (government ID and an ID selfie) for weekly purchases of up to EUR 700 with credit/debit card and EUR 2500 via cash voucher, e-wallet or direct banking.
- Another advantage is the scope of operations of BitIt that includes 50 countries and the easy to use platform.
- Bitit plans to expand its supported payment methods to include direct banking and not merely TrustPay, and for verified users the maximum on wire purchases will be €30,000 weekly.
Payments are always secure since they are developed, regulated, and hosted in France. BitIt follows the highest standards for both regulatory oversight and privacy. 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.
Debit is working just fine
Basically what this does is it helps you find the nearest physical store near you and pay for the voucher in cash, how easy is that? Two-Factor Authentication is enabled on the website making it safer for people to transact online. 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.
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As for the payment limits, with an unverified account, you can buy up to €150 using TrustPay and cash vouchers on weekly basis. With a verified account, you earn the right to increase limits up to €700 for credit cards and €2.500 for TrustPay and vouchers per week. 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.
- The fact that they have an actual physical address in Paris does speak volumes for their authenticity and they make an extra effort to protect your information by encrypting it.
- Our company focus on simple UX and compliance stood out in a corner of the internet too often known for opacity and frictions.
- Offering incentives for reviews or asking for them selectively can bias the TrustScore, which goes against our guidelines.
- It doesn’t offer a crypto-to-crypto service, and you cannot use it to sell your cryptocurrency.
- After verifying, you’ll be able to add a credit card or European bank account to Bitit and to purchase cryptocurrency.
- Moreover, an easy signup process will likely be appreciated by those who dislike the complicated and lengthy verification processes on other platforms.
What we don’t like the most are the very high fees the exchange charges that make trading on BitIt quite expensive. 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. Agree to the privacy policy and terms of use then input your address, city, postal code, birthday and country of residence.
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. 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. Offering incentives for reviews or asking for them selectively can bias the TrustScore, which goes against our guidelines. Currently, there is no live chat available for you to use if you face issues at hand.