Category Archives: review

Auto Added by WPeMatico

Bitit.io Review – Buying Bitcoin and More on Bitit.io

bitit.io review

Bitit.io is a cryptocurrency exchange based in Paris, France that has been providing cryptocurrency brokerage services since 2015. They offer a range of purchase options and operate in over 50 countries with the aim of giving everyone the opportunity to access cryptocurrency, no matter where they live. The platform is easy to use and complies with KYC (Know Your Customer), AML (Anti Money Laundering) and GDPR (General Data Protection Regulation) regulations. If you would like to find out more about this beginner friendly platform then read this full Bitit.io review and see if it’s the platform you’ve been looking for.

Bitit.io The Company

As we mentioned in the opening paragraph of this Bitit.io review, the platform is a French exchange that’s focused on providing cryptocurrency services all over the world. The company, registered with the Trade and Company register of Paris, France under the number 810 222 513 follows thorough KYC and AML regulations. A great thing about the platform is that they operate pretty transparently, providing their address online (25 rue du Petit-Musc, 75004 Paris) so that you know you’re not dealing with some untraceable internet site. They’re also supported by legitimate companies and organizations such as Ernst and Young (EY) and Luxembourg House of Financial Technology. Now that you know a bit more about the company, it’s time to find out how to get started and verified with Bitit.io.

Account Setup and Verification

The account set up process is simple. However, you will have to verify your account to access all functions on the platform. This involves entering some personal information and verifying a photo ID. For this, you’ll need a government-issued photo ID and Bitit.io recommends a passport be used as it can take just 5 mins to get verified in some cases. However, you can also provide a driver’s license or other valid identification documents. The verification process usually takes up to 24 hrs when using those ID types. So if you want to get trading quickly then it’s best to use a passport.

Accepted Countries and Currencies:

As we mentioned in this Bitit.io review’s introduction, their aim is to provide services to as many people as possible, regardless of where they live, so it makes sense that the services are available in more than 50 countries. That means it’s likely that you can use Bitit.io to buy crypto but a definitive list of accepted countries can be found here. If your country of residence is on the list then you can buy crypto with any of Bitit.io’s supported fiat currencies:

  • USD  US Dollar

  • GBP British Pound

  • EUR Euro

  • 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

  • ZAR South African Rand

Bitit.io has added quite a few new cryptocurrencies and seem pretty intent on expanding their range. At the time of writing the following cryptocurrencies can be bought on Bitit.io:

bitit.io review

Purchasing

Purchasing cryptocurrency on Bitit.io is pretty simple but be sure to enter a valid wallet address for your chosen cryptocurrency as they do not offer wallet services. Personally, I like the security it offers as you have total control over how you store your crypto-assets and don’t have to rely on a third party that could be vulnerable to hacks.

European residents have the ability to purchase using SEPA wire transfers, credit cards or cash vouchers from Bitit.io, Cashlib, and Neosurf. These Neosurf and Cashlib cash vouchers can be bought at over 150000 stores around the world. To find a store just go to ‘Buy Near You‘. A great thing about this option is that when redeeming vouchers, they are processed quickly and your funds are usually deposited in minutes.

European residents can also use a EUR wallet with SEPA wire transfer which gives you an individual EUR IBAN that can then be used to instantly purchase cryptocurrencies. This is actually a pretty practical system because it means that after loading funds into the wallet you can then choose to purchase instantly instead of having to wait days for individual SEPA transfers/purchases to be processed.

Non-European residents can only purchase crypto using credit cards however this is probably the most popular way to purchase cryptocurrencies so for those with a credit card, it shouldn’t present an issue.

Purchases usually take about 30 minutes to arrive in your wallet depending on blockchain congestion.

Fees and Limits

When purchasing crypto on Bitit.io there are of course fees involved and they are unfortunately quite high. Fees and limits can be seen below and although the fees are somewhat high, Bitit.io is very clear when describing their pricing and limits. The honesty is pretty refreshing when I compare Bitit.io’s buying experience with that of some other exchanges out there.

Limits can also be increased by contacting Bitit.io but only after making credit card purchases. The process involves sending a selfie of you holding your card (with only your name and last 4 digits visible) and a proof of residency document (utility bill etc.) and a bank or credit card statement are also usually required.

bitit.io review

 

Privacy and Security

In terms of privacy, I mentioned under the Account Setup and Verification section of this Bitit.io review that verification is required so the site is not very private. That will not appeal to some users however it ensures that they are able to operate in a wide range of countries due to KYC and AML requirements. They are also GDPR (General Data Protection Regulations) compliant so users have a reasonable amount of control over their data and how it is used.

When it comes to security, the fact that none of your crypto is stored on the site means that you, the user have total control of your funds. Users also don’t have to pay the crypto deposit or withdrawal fees as is common on some other exchanges. Two Factor Authentication is also available and highly recommended to protect your account’s security and to stop anyone from accessing it apart from you.

Customer Service

Customer service is only contactable via their ticket service but they do have a FAQ page with a lot of useful information. Customer service response times are not bad and they aim to reply within 24 hours. As I contacted customer support I received a response in about an hour and my problem was sorted out not long after that which I found quite impressive.

Bitit.io Review Summary

To summarise the Bitit.io review, this platform offers an easy-to-use and reliable cryptocurrency buying service. The issue is that their fees are higher than other cryptocurrency exchanges (such as Coinbase for example), and verification is required to access any of their services. That being said, they sell a wide range of cryptocurrencies, accept a large number of fiat currencies and operate in over 50 countries. They are a great platform for beginners and the setup and verification process is quick but there are some cheaper options out there. After reading this Bitit.io review, if you think that it’s right for you then click here to get started, creating an account only takes a few minutes.

Equally, if you would like to check out some reviews of other exchanges and crypto-products then you can do so here.

 

Disclaimer: Bitcoin News does not provide any warranties towards the accuracy of the statements in the above Bitit.io review. Any content on this site should not be relied upon as advice or construed as providing recommendations of any kind. It is your responsibility to perform your own research of the platform. Trading and investing in cryptocurrencies involves considerable risk of loss and is not suitable for every investor.

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Bitit.io

 

The post Bitit.io Review – Buying Bitcoin and More on Bitit.io appeared first on BitcoinNews.com.

Bitpanda Review: The Complete Guide

bitpanda review

Bitpanda is an Austrian-based cryptocurrency exchange founded in 2014 under the name Coinimal. Bitpanda is one of the fastest growing European exchanges around and it’s fully automated in order to provide quick and easy cryptocurrency exchange services whenever you need it. With its simple interface, this platform is suitable for beginners, as well as experienced users. Currently, you can buy around 20 different cryptocurrencies using a wide range of payment methods. In this Bitpanda review, we will shed light the most important details to know before purchasing on this platform. Let’s dive in for more details!

Account setup

There are two types of accounts on Bitpanda: verified and unverified. The differences between the two are: lower withdrawal limits for unverified users, and the inability to use fiat money for deposits.

To set up an account, you need to provide your name and an email address. After your email is verified, you can access the platform and start buying and selling cryptocurrencies. Users who choose not to verify their identity can only deposit assets into cryptocurrency wallets (for about 20 different cryptocurrencies). To use a Bitcoin wallet, you need to deposit a minimum of BTC 0.001; a wallet deposit fee of BTC 0.0001 will be charged on amounts smaller than BTC 0.05.

bitpanda review

To verify their identity, users need to provide a phone number, address, and follow a video identification process. The video verification step relies on a partnership with IdentityTM and IDNow, and to ensure a successful verification process, you need to have a good internet connection, camera, and an ID or a passport.

Unfortunately, only European users within the SEPA region are able to buy cryptocurrencies, however, users from around the world can still sell crypto using Bitpanda. It should be noted that residents of the USA are not able to open an account on Bitpanda.

Purchase

After the verification process is completed, you can deposit fiat money into EUR, USD, CHF and GBP wallets. With Bitpanda’s conveniently wide range of payment options, when funding your account you can choose between: credit card (Visa, Mastercard), SEPA, Skrill, Neteller, SOFORT transfer, EPS, Giropay, and Bitpanda To Go vouchers.

The trading process is simple and self-explanatory. The prices are real-time, with fees included. While some exchanges don’t have fixed rates and the final price may differ from the price presented on the confirmation page, on Bitpanda, you will always receive the same amount that was confirmed (you are given 60 seconds to confirm an order at the locked price). Currently, the fee when purchasing Bitcoin is 1.49% and when selling 1.29%. You can find more information about fees here.

There is another option available and that is to buy cryptocurrencies with vouchers. Bitpanda To Go is a voucher that both verified and unverified users can use to buy cryptocurrencies. These vouchers can be purchased in Austrian Post Offices with a fee of 2.99%.

Privacy and security

Bitpanda is considered a secure exchange, taking many steps to make user accounts safe. When storing customer funds they use primarily cold wallets, Bitpanda also safeguards themselves against DDOS attacks and use SSL encryption.

The platform offers Two-Factor-Authentication which is always recommended and any attempt to log in to an account with a new device or internet browser has to be confirmed per email. Users can also check if they have active sessions on other devices.

As we have mentioned earlier in this Bitpanda review, to start trading on Bitpanda, you only need to leave your name and an email address. However, if you want to increase withdrawal limits and deposit fiat, identity verification is required and you will have to update your profile to include some personal information.

Bitpanda shares the information that you provide with third-party verification companies when required: IdentityTM, IDNow, WEBID and verify-U. The platform follows AML (Anti-money-laundering) and CFT (Combating the Financing of Terrorism) procedures, and for that reason, Bitpanda shares users’ personal information with Factiva Limited to check for any politically exposed and sanctioned persons. You can always check which information Bitpanda has stored about you and request a copy.

Customer support

For most of the questions you might have, you can find the answers in Bitpanda’s helpdesk area. However, you can always reach customer support via their contact form or online instant chat. The customer support is also active on Telegram with an average response time of 24h. Most users report a positive experience when dealing with support staff.

Bitpanda review summary

Bitpanda is a secure and easy-to-use cryptocurrency exchange. With a wide range of payment methods and cryptocurrencies on offer, it’s one of the most popular exchanges in Europe. You can exchange crypto for fiat and vice versa almost instantly without changes in the amount that will be received unlike on many other exchanges.

Although the fees may be a little higher than on some other exchanges, and some have found the verification process to be very extensive, the platform has proven itself reliable and very convenient.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Bitpanda

The post Bitpanda Review: The Complete Guide appeared first on BitcoinNews.com.