I find a mobile app easier to exchange and trade cryptocurrencies even if we are not in front of our computer. Well, it is because apart from trading BTC, it also trades numerous other altcoins and is a popular multi-coin exchange of the cryptosphere. Despite being one of France’s leading fiat-to-crypto platforms and serving over half a million customers since its founding back in 2015, Bitit is closing its doors. Tokenhell is a blockchain & crypto news agency where you can discover news about crypto coins, technical analysis, blockchain events and detailed reviews. None of the information you read on Tokenhell should be regarded as investment advice. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions.
Select credit card to change the fields to reflect your choice, and enter the information required including card number, expiration date, CVV code and your full name. Bitit supports all major card networks including VISA, Mastercard, Maestro, and Amex. Using a bank account is accomplished through TrustPay (compatible with SEPA) and is only available for EU users. One can also use a Bitit gift card or click on Store Locator to find a local shop that will sell crypto over the counter to those who pay with Cashlib, Neosurf, or Bitit vouchers.
- Despite its relative newness to the cryptocurrency marketplace, Bitit has a good reputation among its users.
- Although it has some disadvantages like high fees and a limited supply of assets, it is still getting a good response from the customers.
- High volume is important for traders, as it ensures a low spread, which is the difference between the best bid and ask prices.
- Moreover, on 20 November 2019, Bitit started accepting Skrill-transfers.
- Because the platform doesn’t store funds, it doesn’t need to provide cold storage or deal with loss, so users should rely on the safety of the wallet they’re depositing to from Bitit.
For the newcomers, the Bitit exchange will serve well in buying the cryptocurrencies. After verifying, you’ll be able to add a credit card or European bank account to Bitit and to purchase cryptocurrency. You can do so by clicking on the Buy tab on the top of the website, where the full range of cryptocurrencies will be revealed for purchase.
Who Is Bitfinex For
The cryptocurrency exchange is also available for all those users that belong to the remote or distant areas. The main focus of the cryptocurrency exchange is the users with local currencies. With the facility of local currencies, new users of local areas will be able to connect themselves with the exchange.
Given the high fees, Bitit is highly unlikely to appeal to any seasoned crypto traders or investors. After all, low fees are one of the attractions of dealing with cryptocurrencies. Both Bitfinex and Binance support an impressive amount of cryptocurrencies. However, Bitfinex’s interface is much more advanced (and confusing) than Binance’s.
be careful if you dont do trading and…
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. One of the features that truly sets BitIt apart is its ability to accept a long list of payment methods you will not find on other cryptocurrency exchanges.
Moreover, on 20 November 2019, Bitit started accepting Skrill-transfers. Great work by Bitit to provide a user-friendly buying experience. The platform has support from The Family (a European group supporting entrepreneurs), the Luxembourg House of Financial Technology, and EY (a global company). Say goodbye to anonymity since they will be asking for your phone number and physical address. We will be providing you guys’ screenshots on the website to make it easier for you to decide to go with them or not even without going through the processes yourself.
If you are a trader you are able to concentrate on your trades knowing that processes needing to happen do so without you having to worry about them. So overall, unless you’re looking for advanced features, it seems that Binance is probably a better choice than Bitfinex. CoinSutra writers are not certified financial advisors or brokers. Cryptocurrency activities like purchasing, trading, holding, and selling have inherent risks. CoinSutra and its writers are not responsible for any investment losses from acting on website or social media content. This allows Bitfinex users to stake supported coins, and earn staking rewards.
We are however able to pay for the crypto we want to purchase using Cash Vouchers and Wire Transfer options with different fees which will be discussed later in this review. Transacting with a credit card is simply the most convenient way to get your hands on crypto! Bitit is a cryptocurrency exchange based in France that provides users with trading opportunities for Bitcoin and Ethereum.
Margin Trading on Bitfinex
This goal is laudable, however, users need that external wallet setup regardless of where they are. Offering the Ledger Nano S as the only wallet recommendation, which is not a cheap piece of hardware and no picnic to set up for a total newcomer, still seems to be more of a barrier than an enabler. Just great to have their support in complicated market conditions so we are trading successfully throughout! Various teams worked quickly and efficiently throughout while explaining plainly.
What Limits Does BitIt Have?
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. Bitit is getting some positive reviews from the users and customers as the exchange is providing some good features like a safe and secure cryptocurrency exchange. The trust level of the exchange is average based on the views of customers.
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. Despite its relative newness to the cryptocurrency marketplace, Bitit has a good reputation among its users. Chief among their praises are the unmatched variety of payment methods, nearly instant credit card purchases, and easy integration with other wallets. Users who reach their daily or weekly limits on other platforms can easily log into Bitit and use it to get more exposure, and for some, the ability to make in-person purchases at a store is an enormous boon. Bitit is a French exchange platform that was founded in 2015 by three friends and cryptocurrency enthusiasts.
Bitfinex Supported Cryptocurrencies
It also offers convenient gift cards as another way to buy crypto with cash. The only downsides of BitIt are the limited cryptocurrencies and high fees, but the platform is working quickly to expand its cryptocurrency offerings. Unverified users can only buy €150 euros per week, while verified users with a credit bitit review card are able to boost this to €1,500. Other payment methods such as cash vouchers or Bitit gift cards mean a higher limit of €2,500. 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.
Conclusion – Is Bitfinex Legit?
In a worst case scenario, they are still prohibited from trading at one or several exchanges that could be the best cryptocurrency exchange site for them. Being an international crypto-exchange, the Bitit exchange is currently supporting almost 50 countries all over the world and includes the customers and users from all around the world. The important countries which are on the supported list of Bitit are United States, Canada, Australia, Europe, and Oceania. EToro is a multi-asset platform which offers CFD and non CFD products. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.