BitIt Review
- Easy to use platform
- Wide variety of cryptocurrencies offered
- Fiat currency supported
- Numerous payment methods
- Not regulated
- Cannot exchange crypto to crypto
- Cannot sell crypto
- Not advanced and lacking features
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, 75004 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. 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.
Trading Platform
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. Upon logging into your Bitit account, the user simply chooses which cryptocurrency they would like to buy, the payment method they would like to use, the amount they would like to buy, and they must provide the cryptocurrency wallet address they would like their newly bought crypto coins to be sent to. Bitit does not store the users cryptocurrency assets on their behalf, but rather sends it directly to the users personal crypto wallet. Bitit does not support any advanced order types, charting packages, or price analysis features. All in all, the exchange is very simple, fast and straightforward.
Exchange Markets
Bitit is a cryptocurrency exchange and therefore deals solely in the cryptocurrency markets. The exchange does not facilitate the trading of crypto to crypto assets or the selling of crypto assets for fiat currency. The only exchange service Bitit provides is the ability to buy various cryptocurrency assets for fiat currency. The crypto assets currently supported by Bitit include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Ethereum Classic (ETC)
- Ripple (XRP)
- Dash (DASH)
- Neo (NEO)
- Monero (XMR)
- Digibyte (DGB)
- Qtum (QTUM)
- Vertcoin (VTC)
- Clams (CLAM)
- Dogecoin (DOGE)
- Bitcoin Gold (BTG)
- OmiseGo (OMG)
- 0x Protoco (ZRX)
- Eos (EOS)
- Civic (CVC)
- Bancor (BNT)
As for supported fiat currencies, they include:
- EUR: Euro
- USD: US Dollar
- GBP: British Pound
- CNY: Chinese Yuan Renminbi
- CAD: Canadian Dollar
- SEK: Swedish Krona
- NOK: Norwegian krone
- DKK: Danish krone
- KRW: South Korean Won
- TRY: Turkish Lira
- SGD: Singapore Dollar
- HKD: Hong Kong Dollar
- JPY: Japanese Yen
- AUD: Australian Dollar
Fees and Commission
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.
Credit & Debit Cards:
- 6.9% fee
- Visa, MasterCard, Maestro, American Express
Cash Vouchers
- 5.9% – 11.9% fee
- Cashlib, Neosurf, Bitit
Direct Banking
- 3% fee
Security and Fairness
Bitit is a very safe, secure, fair, and transparent cryptocurrency exchange. 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. For instance, Bitit only accepts 3D secured credit cards for fast and secure credit card payments. 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.
Support
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. Also, users can further reach out to Bitit through their social media channels including Facebook and Twitter.
Conclusion
Overall, the Bitit cryptocurrency exchange is an excellent option for user looking to buy a variety of cryptocurrencies in a simple, fast, and easy manner using fiat currency. The exchange platform is intuitively designed but lacks advanced features. However, Bitit markets themselves towards mainstream beginner users and provides them with a seamless buying experience. The fees imposed on users are very reasonable and the number of cryptocurrency assets offered is quite impressive. All in all, the Bitit cryptocurrency exchange is a phenomenal crypto exchange for what they set out to accomplish and provide their users.
Bitit Q&A
The following are the common questions that customers inquired about Bitit.
Is Bitit regulated?
No, it is not regulated.
Is Bitit a scam?
No, Bitit is a legit cryptocurrency exchange with a viable reputation in the industry.
Where is Bitit based?
Bitit is based at 25 Rue du Petit-Musc, 75004 Paris, France.
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