Bitit bitcoin marketplace review

Bitit Cryptocurrency Marketplace
Bitit Cryptocurrency Marketplace
  • Instant cash for cryptocurrency
  • Simple pricing
  • 50 countries
  • Earn Bitit rewards points

How to buy bitcoin on Bitit from Australia.

Paris-based Bitit aims to make buying bitcoin as fast and easy as possible no matter where in the world you are.

Its most notable feature is the ability to make quick purchases with cash or card, from almost anywhere in the world.

Product Name Bitit Cryptocurrency Marketplace
Fiat Currencies USD, EUR, GBP, JPY, CNY, KRW, AUD, CAD, DKK, NOK, SEK, TRY, HKD, SGD
Cryptocurrencies BTC, ETH, XRP, DASH, LTC, BCH, ETC, OMG, ZRX, CVC, BNT
Deposit Methods Cashlib
Credit card
Debit card
Neosurf
Trading Fee None
Deposit Fees Credit/debit card: 6.9%
TrustPay: 3%
Cash vouchers: 5.9-11.9%
Withdrawal Fees None

Pros

  • Simple to use
  • Pay with cash or credit card

Cons

  • High fees compared to other services
  • Strict per-transaction order limits
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What is Bitit and how does it work?

Bitit is a bitcoin 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:

  1. Create an account. You can quickly create an account, and can buy up to €25 of bitcoin without verification. You will need to verify your identity for more purchases after that.
  2. Place an order. Choose a purchase amount from €25 to €250
  3. Make your payment. In Australia you can pay by cash with a Flexepin prepaid card, or by a 3-D Secure credit card (Visa, Mastercard, Maestro).
  4. Wait for bitcoin delivery. You will have bitcoin delivered to your wallet in around 10 minutes.

Fees

The transaction fee varies by payment method.

Method Fee
Online with Visa, Mastercard, Maestro 8.9% transaction fee
Flexepin 11.9%

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 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?

You don't need to verify your identity to create an account, and may be able to buy a limited amount of bitcoin without verifying your identity.

Pros and cons of Bitit

Pros

  • Very quick and simple
  • Lets you pay online with credit card or with cash via Flexepin

Cons

  • Relatively high commission fee
  • Strict per-transaction order limits

What are the order limits?

You are limited to €500 every 7 days without verifying your identity, and the per-order limits are €25 to €250. There's no limit on the amount of orders you can place, though.

How long does it take to buy bitcoin on Bitit?

You can start a transaction and receive your bitcoin in minutes, depending on how busy the network is at the time, and how long it takes you to get a Flexepin voucher or your credit card numbers.

Security: Is Bitit safe and legitimate?

Bitit has a number of physical store locations in France, maintains an active social media presence and has a prolific online presence. This all suggests that it’s a legitimate service.

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 will incur additional exchange fees on top of all the others.

Bitit-Homepage-650x431

Image source: Bitit

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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