That’s the only Bitit review you need. Read this detailed analysis of Bitit.io exchange and find out all the important facts. Do it now.
Most Important Information On This Page
Bitit crypto exchange went of out business. That’s why you’d be wasting your time reading this review. For that reason, please check out the reviews of other cryptocurrency exchanges. If you want to pay with cash or want to avoid giving your ID, please check out this Bitquick.co review. If you want to pay by other means and are okay providing your ID, please have a look at this Kraken exchange review now.
Bitit Review That’s No Longer Relevant Because This Exchange Doesn’t Exist
Learn important things about fees, verification, and other stuff. Then find out how it compares to alternatives. Get all that from this Bitit review now.
Or if it’s your personalized recommendation from my website homepage and you’re in a hurry, here’s the link to Bitit.
This review also has two types of bonus information.
First, you’ll learn about affordable cybersecurity device. You can use it to increase safety of your online accounts.
Second, you’ll learn important information about credit card purchases. This information applies to credit card cryptocurrency purchases from all companies, including this one.
In short, this article is filled with helpful, up-to-date information. So please bookmark it in your browser now.
Disclosure: this page has affiliate links that may make me money. But the content is objective and trustworthy.
Summary Of This Bitit Review That Takes Little Time To Read
Bitit is a safe website that works fast. The customer support is fast too.
Furthermore, it’s aimed at people new to cryptocurrencies. So it’s easy-to-use. Indeed, it’s the most user-friendly website in its category. They’ve made buying cryptocurrency easy.
Plus, they lowered their card purchase fees. So these fees are similar to the industry average. However, Bitit customer reviews are much better than those of an average cryptocurrency business.
Better reviews may be explained by diligent customer support. It’s one of the best in the crypto industry. They replied to each of my emails in less than 12 hours and gave clear answers.
The verification is also fast. It usually takes less than 12 hours.
Moreover, you can get discounts. When you buy more than 500 euros worth of cryptocurrency, Bitit gives you 0.5% extra cryptocurrency. That figure rises to 0.75% if your purchase exceeds 1,000 euros.
This said, cash purchases can be made at a much cheaper alternative. That’s so because its user reviews are similar to those of Bitit, while its fees are much lower.
However, if you’re using either a card or SEPA transfer, Bitit is the way to go. If you use it now, you’ll be happy you’ve chosen it.
|Ease Of Use|
Is Bitit Safe Or Is It A Scam?
In this section, I discuss their security features first. Then I discuss their media and investment partners. You’ll also learn about their CEO and get a full analysis of customer complaints. In short, you’ll gain useful information that’ll help you make a decision.
Explanation Of Security Features Plus Bonus Information #1
Bitit has all the necessary security features. So it’s definitely safe.
None of card numbers are stored on their servers. So you’re keeping them private and secure. Plus, your other information provided to them is protected with the highest level of encryption.
When your payment is processed, the transaction is handled with the highest level of security as well. Their payment processors have PCI Compliance Level 1, the highest level of security in payment industry. So you can be sure that your hard-earned money is safe and secure during Bitit transactions.
There’s also two-factor authentication. You can set it up via Google Authenticator app.
By the way, there’s a way to do two-factor authentication via a hardware device. While Bitit doesn’t support it, you can use Yubico Authenticator app. It can be used instead of Google Authenticator app.
However, Yubico Authenticator app requires a Yubico device. By buying it, you’ll be able to secure the majority of your online accounts, including Gmail. By the way, Google employees use these devices.
Plus, Yubico devices are affordable. So you can buy two to avoid problems with 2FA reset. Many people who lost phones with Google Authenticator app had problems with that. You can avoid these problems. Simply buy two Yubico devices now and feel safer. So please see their Amazon prices now.
Their Partners, CEO, And Analysis Of Complaints
Bitit received good press coverage. You can read it about in Bitcoin.com, Venture Beat, and French edition of Forbes. Bitcoin.com article is especially favorable. It says that Bitit simplifies bitcoin purchase process and aims to reduce risk.
Also, you can find the names of founders with photos on their website. And you can be sure that these are real people. One of them, Nicolas Katan, is mentioned in Bitcoin.com, Venture Beat, and Forbes. In this way, Bitit is better than many bitcoin companies. Many of them keep the identities of their founders shrouded in secrecy. So the transparency of Bitit.io is a good sign.
Furthermore, a respectable European firm, The Family, has invested in Bitit. It’s a legitimate company though its name sounds like The Mafia. This firm has been profiled by TechCrunch and other respectable publications.
In short, Bitit has good partners both in terms of media organizations and venture capital firms.
There are only a few complaints about Bitit. They are much less sinister than complaints about most of its competitors. All of them mention a blocked credit card transaction. That’s a common issue that has nothing to do with Bitit. For its explanation, read the section below.
Bonus Information #2: Common Problem With Credit Card Cryptocurrency Purchases
Some banks block credit card cryptocurrency purchases. However, this ban doesn’t affect debit cards. Banks are mostly concerned with credit risk. Debit card purchases carry none of that risk.
If you intend to use credit card, Google the name of your bank plus “blocks cryptocurrency purchases”. If your bank blocks this type of purchases, you have four options listed below.
- Use credit card from other bank.
- Use debit card from the same bank.
- If you’re in Europe, send SEPA transfer.
- Get cash from ATM and buy cash voucher.
Bitit.io accepts all of these payment methods.
Bitit Review: Cash Advance Fee For Credit Card Cryptocurrency Purchases
Banks sometimes charge a cash advance fee for this type of purchases. It’s the greater of $10 or 5%.
Debit card purchases are free from this fee.
Coinmama Vs. Coinbase Vs. BititIf you're on a mobile device, place your finger on this table and slide it to the right to see all of the table content.
|Company||Fees||Support||Maximum Limits||Privacy Record||User Reviews||Average Purchase Time From Verification To Bitcoin Receipt||Conclusion|
|Good||One million dollars per month||Good||Excellent||1 hour - 1 day||You can use it if you're okay paying high fees to an established company.|
|Bad||$50,000 per day||Terrible. They track all your cryptocurrency activity.||Terrible||1 day - 5 days||Stay way from this evil exchange.|
|Excellent||100,000 EUR per week||Excellent||Excellent||2 hours||Great way to safely buy cryptocurrency. So here's the link to their website.|
Much Cheaper Alternative For Cash Purchases
Bitquick is that alternative. However, it’s a bitcoin peer-to-peer marketplace. By using it, you’d be buying from a person, not from a company. So while Bitquick uses escrow, the risk may be higher.
What Payment Methods Are Accepted On Bitit.io?
They accept three payment methods listed below.
- Visa, Mastercard, Maestro, or American Express credit and debit cards. Their competitor Coinmama doesn’t accept American Express cards.
- Cash via CASHlib or Neosurf vouchers. More than 150,000 stores sell these.
- SEPA Transfer (EUR Wallet). You can use this type of transfer to deposit euros. To use this payment method, go to Bitit Account and select EUR Wallet option. Then follow the instructions on that page.
You can find more useful information about these payment methods in the table below.
|Payment Method||Fees||Total Purchase Time From Verification To Receipt||Accepted Fiat Money Currencies|
|Credit & Debit Cards||3.9%||15 minutes - 12 hours||All listed in the next section|
|Cash Vouchers||8.75%||1 hour - 12 hours||Only EUR|
|SEPA Transfer (EUR Wallet)||0.15% for deposit + 0.25% per trade = 0.4%||1 hour - 1 day||Only EUR|
Bitit Review Continued: Accepted Fiat Money Currencies
- USD: US Dollar
- EUR: Euro
- GBP: British Pound
- CAD: Canadian Dollar
- AUD: Australian Dollar
- JPY: Japanese Yen
- HKD: Hong Kong Dollar
- SGD: Singapore Dollar
- TRY: Turkish Lira
- KRW: South Korean Won
- DKK: Danish krone
- NOK: Norwegian krone
- SEK: Swedish Krona
- CNY: Chinese Yuan Renminbi
Bitit staff are working on adding more currencies in the near future. However, as said above, all of them are available only for credit and debit card payments.
How Can I Change Fiat Money Currency Used For Payments?
You can change fiat money currency in three easy steps listed below.
- Find your name on Dashboard. It’s on the top right. Click on it.
- Click on “Account”.
- Find “Settings” section and click on the currency you want to use.
What’s Required Before You Can Start Verification
You have to complete your Bitit profile. The five types of required information are listed below.
- Phone number
- Email address
- Home address
Please be careful when providing this information. You can’t change all of it once it’s in their system. You can only change email address, home address, and your name by emailing their customer support. That’s done to prevent fraud in case of an unauthorized access to an account.
Purchases With The Lowest Level Of Verification: Required Documents
You’re required to upload two things listed below.
- Selfie. It must include yourself holding your ID and a paper with “Bitit” and today’s date.
- ID document. Passport, ID card, or driving license may be used.
Passport is the recommended ID document because their system usually takes less than five minutes to verify it. When document other than passport is used, verification can take longer. In most cases, however, verification takes them less than 12 hours. Plus, average verification time is only 2 hours.
If you’re using a debit or credit card, you’re also required to verify your phone number. They sent you a text message with PIN. Then you’re required to enter that PIN into their website. So it’s easy and fast.
|Payment Method||Weekly Limit|
|Credit & Debit Cards||700 EUR (about 790 USD)|
|Cash Vouchers||2,500 EUR (about 2,800 USD)|
|SEPA Transfer (EUR Wallet)||15,000 EUR (about 17,000 USD)|
EUR Wallet allows you to deposit and withdraw as much money as you want. However, you can’t convert more than 15,000 euros into cryptocurrency weekly. But you can raise that weekly limit.
Purchases With The Highest Level Of Verification: Limits And Required Documents
The highest weekly limit for credit and debit cards is 5000 EUR (about 5650 USD). Cash vouchers have the same highest weekly limit. EUR Wallet has a 100,000 EUR weekly limit.
To get this level, you need to go through additional verification. The documents they require are listed below.
- Card or bank statement from last 3 months.
- A proof of residency from last 3 months. They accept utility bills for phone, electricity, and gas.
- A selfie of yourself holding the credit or debit card you have used for previous purchase. However, you can cover all of the digits of your card except for last four. I suggest you do that.
- If you’re using SEPA Transfer, you’re also required to complete source of funds application form.
Please continue reading this Bitit review for more useful information or visit their website if you’ve made a decision.
Bitit Review: Available Cryptocurrencies
This part of Bitit review lists the cryptocurrencies available at this exchange. So I’m sure you’ll find it useful.
Bitit sells many different cryptocurrencies. Only in the last half of 2018, it added more than ten new cryptocurrencies. So the total number of cryptocurrencies is twenty seven. The majority of them are listed below.
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Monero (XMR)
- Ripple (XRP)
- Litecoin (LTC)
- NEO (NEO)
- Zilliqa (ZIL)
- Vechain (VET)
- Ontology (ONT)
- Basic Attention Token (BAT)
- Binance Coin (BNB)
- Cardano (ADA)
- Tron (TRX)
- Neo (NEO)
- Stellar (XLM)
- Paxos (PAX)
- TrueUSD (TUSD)
How Do I Buy Bitcoin On Bitit?
There are five easy steps listed below.
- Create an account.
- Fill your Bitit profile.
- Upload verification documents.
- If using a credit or debit card, verify your phone number.
- Make the purchase.
Bitit Review: Does Bitit.io Have A Cryptocurrency Wallet?
Bitit.io doesn’t hold your cryptocurrency. This forces you to be more serious about the security of your crypto assets. So it’s a good thing it doesn’t have a wallet.
If you don’t have a wallet, you can easily get one. Many wallets are free mobile apps. However, the most secure ones are hardware wallets. These are recommended by all cryptocurrency experts. So if you don’t have one, please check out the best hardware wallet right now. Please see how affordable it is right now.
There’s something else you should definitely know. Some third party wallet sellers scammed people. They sold them pre-configured scam wallets which they controlled. Then they took people’s cryptocurrency. So purchase wallets only from the manufacturer. So please visit and bookmark this link right now because it’s the official manufacturer website.
Is Bitit A Cryptocurrency Exchange?
No, it’s not a cryptocurrency exchange. Bitit is an easy-to-use e-commerce website for purchasing cryptocurrencies. So it doesn’t have a trading platform. But they said they’re working on it.
Is Bitit Customer Support Staff Slow Like A Donkey?
No, they’re relatively fast. They replied to each of my emails in less than 12 hours. That’s excellent for Bitcoin industry. Many major bitcoin companies, especially Coinbase and Kraken bitcoin exchange, take weeks to respond to customer emails. They’re indeed slow like a donkey.
What Does Reddit Community Think Of Bitit?
Guys on Reddit are mostly making fun of the company’s name. They say it sounds like a big tit.
Seriously speaking, Reddit comments about this company are positive. This is a good sign. Reddit has excellent moderation system that weeds out shills. And even when a few shills escape moderation, it’s easy to identify them.
You can identify a Reddit shill in 3 steps: 1) go through the history of his posts; 2) check whether he posted more than one positive comment about the same company; 3) check whether he posted comments about other companies.
Using this method, I identified 0 Reddit shills working for Bitit. So it hasn’t paid anyone on Reddit.
Bitit Review: Conclusion
Bitit is an excellent option for buying cryptocurrency. It’s safe, fast, and easy-to-use. Even a person without any knowledge of cryptocurrencies will be able to use it.
That’s why Bitit customers wrote many good things about their experience.
Furthermore, I couldn’t find any major downsides for card and SEPA transfer purchases. So for this type of purchases, Bitit is the best option.
I hope that this Bitit review has given you valuable information and helped you make a decision. If so, you can visit Bitit.io right now.
1) BitTrust: User Reviews Of This Company
2) Bitcoin.com: News Article About This Company
3) VentureBeat: Another News Article About This Company
4) Reddit: Their Community Opinion About This Company
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