Bitit bitcoin marketplace review
How to buy bitcoin on Bitit from Australia.
|Product Name||Bitit Cryptocurrency Marketplace|
|Fiat Currencies||EUR, USD, JPY, DKK, GBP, SEK, NOK, TRY & 5+ more|
|Cryptocurrencies||BTC, XRP, ETH, USDT, LTC, EOS, BNB, LINK, XTZ, ADA & 35+ more|
Bank transfer (ACH)
Credit/debit card: 3.9%
Cash vouchers: 8.75%
- Simple to use
- Pay with cash or credit card
- High fees compared to other services
- Strict per-transaction order limits
What is Bitit and how does it work?
Bitit is a cryptocurrency selling and delivery service. Being based in Paris all its prices are in euros, but the payment process is the same with other currencies. You will be charged exchange fees when paying with a card.
Here are the simple steps you need to take:
- Create an account. You can quickly create an account, but will need to verify your identity before making a purchase.
- Place an order. Choose which cryptocurrency you want to buy, and how much.
- Make your payment. If in a SEPA area, you can pay with a SEPA transfer. Elsewhere, you can pay with debit or credit card, or cash vouchers.
- Wait for cryptocurrency delivery. You will have your cryptocurrency delivered to your specified wallet address.
The transaction fee, and the available currencies, vary by payment method.
|Visa, Mastercard, Maestro credit and debit card||EUR, USD, JPY, GBP, SEK, NOK, TRY, AUD, CAD, CNY, HKD, KRW, SGD, ZAR, DKK||3.9%|
|Cashlib or Neosurf cash voucher||EUR||8.75%|
These are just the fees charged by Bitit. Depending on your payment method there may be additional fees for:
- The cost of buying a Flexepin voucher charged by the store where you purchase it.
- Foreign exchange or cash advance fees when paying with a credit card.
- Additional credit card or transaction fees charged by your bank for an overseas credit card payment.
Do I need to verify my identity on Bitit?
Yes. Verification is required to buy cryptocurrency on Bitit.
Pros and cons of Bitit
- Quick and simple
- Lets you pay with credit card or with cash via vouchers
- Relatively high commission fee for card and cash voucher purchases
What are the order limits?
The order limits depend on your payment method.
- SEPA payments: EUR€15,000 equivalent per week purchases, unlimited withdrawals
- Debit or credit card: EUR€7,500 equivalent per week purchases
- Cash voucher: EUR€2,500 equivalent per week purchases
How long does it take to buy cryptocurrency on Bitit?
You can start a transaction and receive your cryptocurrency in minutes, depending on how busy the network is at the time, and how long it takes you to make your payment.
Security: Is Bitit safe and legitimate?
Bitit has a listed address in France, maintains an active social media presence and has a prolific online presence. It was founded in 2015 and has been operating continually since then.
It says it encrypts its data and maintains the levels of security you’d expect from any service that handles customer credit card numbers online.
Contact and customer service
You can contact Bitit online through the site, or on social media.
Where is Bitit available?
Bitit operates in more than 50 countries around the world, although it’s based on Europe, where it has more payment options and a larger presence.
What currencies does Bitit accept?
Bitit only accepts euros. You can still buy with other currencies, but if it may incur additional exchange fees on top of all the others.
Image source: Bitit