Bitit exchange review: is it trustworthy?
Along with the growth of cryptocurrencies, more and more exchanges appear on the Internet. Finding a trusted service becomes harder. You analyze the reviews and expert opinions, but there still are doubts. Sounds familiar, right? In our Bitit review, we have gathered everything you need to know about the exchange.
About Bitit
Bitit is a French cryptocurrency exchange that was founded in 2015. It operates in over 50 countries that even include the United States. The company aimed to create a service that would be suitable for both newcomers and professionals in the field. This is something that is not easy to do, but it looks like Bitit actually managed to succeed.
According to the information that we have found, the company had no issues regarding financial problems in the past. This is a good sign because it means that the exchange is quite secure and can be trusted.
What can you trade with Bitit?
The exchange provides an enormous number of cryptocurrencies that can be traded. The list includes both popular and rare coins, so this is a big advantage of the service. Here you can use:
- Bitcoin
- Ethereum
- ChainLink
- Cardano
- Loopring
- Civic and many others
You will find all the coins you need here and that is one of the reasons why we like Bitit. When you choose a coin, its price is immediately shown in 15 fiat currencies that can also be used. The fiat currencies include CAD, CNY, ZAR, SGD, KRW, and others.
Payment methods
Bitit has a lot of payment methods that can be used to top-up your account or withdraw the funds. The list includes:
- Credit and debit cards (3.9%)
- Neosurf (10%)
- Flexepin (7.9%)
- Cashlib (7.9%)
Each method sends the fund immediately and is used in EUR. However, the fees vary. We have indicated them near each of the methods listed above. As you can see, they are very high and they will eat into your earnings.
Fees at Bitit
If you make an online purchase, the service will only charge 3.9%. This is a high number if compared with the industry average, so it will be felt on your profits.
Also, if you make a purchase with cash, the service will charge from 7.9% to 10%. This is a ridiculously high fee, so we do not recommend using this method. It is too expensive and there are many cheaper alternatives in the industry.
Is Bitit secure?
Bitit complies with European privacy laws, so we can say that it is quite secure. Customer information is protected: everything remains confidential and encrypted. Also, Bitit’s partners are Level 1 PCI providers which also must have the highest security standards in order to remain in the field.
The exchange is regulated under the French PACTE law. It currently is in the process of becoming the 1st fully regulated cryptocurrency exchange in the country and get the PSAN status.
The security level at Bitit is very similar to bank systems. It is regularly tested for breaches and is constantly improved. To enhance the protection of users’ funds, the service forces clients to complete the verification process and provides a 2-step login system.
Customer support at Bitit
If you encounter any issues, the easiest way to solve them is by getting to Bitit’s support center or contacting the customer support. The service has a detailed FAQ that covers many questions that are related to the usage of the service, fees, limitations, etc.
For urgent issues, it is recommended to leave a ticket. This can be done by writing to the support service directly via email hello@bitit.io or social media on Facebook, Twitter, and LinkedIn. It usually takes up to three days for an answer to be received, so do not worry if your question was not answered immediately.
Advantages and disadvantages of Bitit
We have prepared a short list of positive and negative sides of the service so that our readers could quickly estimate whether the service is good enough for them or not.
Pros
- Several popular payment methods
- High limitations and liquidity
- Possibility to purchase crypto for up to 25 Euros without completing the verification process
- Works in many countries
- User-friendly interface
Cons
- High fees
- Fees for making deposits
User opinions about Bitit
There are many customer reviews about Bitit. It is good to know that 76% of all reviews are excellent and only 6% are bad. People like how fast the service works and how responsive the customer support is.
Here is what a user with the nickname Adam writes about Bitit. He says that it is very simple to use and has reasonable fees.
Adam also states that his account was verified in a few minutes and it took him only a couple of seconds to complete his first purchase. Overall, he is satisfied with the service.
Another user, Robert Hill, also likes the simplicity of the exchange and the reasonable fees. He states that the verification process took him only 5 minutes and his first purchase was complete in 20 minutes.
He compares Bitit with Coinbase saying that it is much faster. Robert is completely satisfied with the services and recommends it to everyone.
Conclusion
Bitit is a French cryptocurrency exchange that is safe and trustworthy. It has many crypto and fiat currencies that can be used, high fees, and a simple interface that is even suitable for newcomers. Customer reviews are positive, so we assume that the service can be trusted.
Have you ever worked with Bitit? Tell us about your experience!