Bitit exchange review – Buy cryptos instantly
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About Bitit
Buying cryptocurrencies a few years back was complicated, confusing and it took a long time. I have personally gone through these past complex exchanges to purchase Bitcoin and other cryptocurrencies.
Therefore I am really glad that today buying Bitcoin, Ethereum or other popular cryptocurrencies is much easier. And this is thanks to the likes of Bitit and other cryptocurrency exchanges that have brought with it an improved user experience and integration of common payment methods.
In this Bitit review I will explore how this exchange works, give you an introduction to it, go through what payment methods are available, which cryptos you can buy at Bitit and go through what the rest of the crypto community thinks about this exchange.
What I like the most with Bitit is the different payment methods available, the low fees and speed of trading. Making it a great place for beginners to use. Bitit have debit/credit cards available, bank transfers (SEPA) and cash vouchers. Making it an optimal place for Europeans to use when trading cryptos.
Getting started with Bitit
To start buying and selling cryptocurrencies on Bitit you first need to create an account. Here I will walk you through the steps of creating an account with Bitit.
- First head over to www.bitit.com
- Then click on sign up/create an account
- Enter your name, email, address, etc
- Verify the email that gets sent to you and then you’re in
Payment methods available at Bitit
Bitit’s payment methods available is what makes them so useful. Here you can purchase cryptocurrencies with your credit card/debit card, with a bank transfer (SEPA – only for Europeans) and cash vouchers.
That means they have most of necessary payment options; card, bank transfer and cash.
How to buy cryptos on Bitit
I will now go through how you can purchase cryptocurrencies on Bitit. And I will make it easy to understand for the beginners.
Before you purchase a cryptocurrency from Bitit it is good that you understand how cryptocurrencies work (read guide here) and that you have some understanding how cryptocurrency wallets work.
But on an overview level you store your cryptocurrencies on the blockchain, and to access your cryptos on the blockchain you need a cryptocurrency wallet.
You can create free wallets or purchase more secure hardware wallets.
Before you buy cryptos like Bitcoin on Bitit you need to have a Bitcoin, or cryptocurrency wallet.
This is a summary of how you buy cryptocurrencies on Bitit
- First get a cryptocurrency wallet
- Sign up for Bitit account
- Decide if you want to buy with a card, bank transfer or cash voucher
- Buy the cryptocurrency you want and enter your desired wallet address to send your cryptos to after completed purchase
That’s it.
If you want to buy cryptos quickly at Bitit I recommend using a card because this is instant.
If you prefer to save on fees you can use a SEPA bank transfer. This is slower but cheaper.
How to sell cryptos on Bitit
You can also sell your Bitcoins or Ethers via Bitit for cash. That means Bitit not only is a great place to first purchase your first Bitcoins from but also to cash-out your cryptos when that day comes.
You can only sell Bitcoin or Ethereum for cash, and that’s only for EUR (Euros).
To sell BTC or ETH at Bitit you need to first create an EUR wallet.
This is how you sell Bitcoin or Ethereum at Bitit for cash:
- Log into your Bitit account
- Create an EUR wallet
- Set the amount and currency you want to sell (BTC or ETH)
- Send your BTCs or ETHs to the address given by Bitit
- Bitit will then within 24 hours send the funds to your EUR Wallet
- Then you can withdraw the funds to your bank account
- Wait for 1-2 days for your funds to arrive
A few more steps to selling via Bitit than buying but the overall process is easy to understand and secure.
Bitit Fees
There are different fees at Bitit and I will provide you with a clear overview of the different Bitit fees so that you can use this exchange with confidence you’re not getting tricked.
These are the possible fees that applies to using Bitit:
- Payment fees (0.25% SEPA fee 3.9% credit & debit card fee 8.75% cash voucher fee)
- Withdrawal fees (SEPA 0.15% minimum of €3)
- Deposit fees (nothing from Bitit but might be fees from your own bank)
- Transaction/Mining fees (check each network for current fees – BTC, ETH, etc)
Overall the fees at Bitit are ok. Not the cheapest but kinda standard similar to Bitpanda, Changelly and Coinmama.
Is Bitit safe?
I can’t find any information online about Bitit being a scam or unsafe. Overall it has received both good and negative reviews.
I think Bitit is safe to use and trusted by Europeans that wants to purchase Bitcoin and other cryptocurrencies.
Bitit has received fairly good reviews on Trustpilot and there are no indications that you should avoid Bitit or that it’s a scam.
I recommend checking out Reddit for more information what others think of Bitit. But do consider the fact that people do complain and write about their issues but it is very unlikely that they write about the fact that a site does its job. So most what you find online will be complaints and not compliments.
Bitit Security
Like all cryptocurrencies exchanges there are risks to storing your cryptos there for the long run.
I always recommend my readers to use your own wallet for storing your cryptocurrencies and then making sure to keep backups of your passwords, seeds and private keys.
There have been no known hacks to Bitit and it is a real and legit exchange so no need to be overly concerned about Bitit’s security.
But once again after you’ve bought some cryptos from Bitit send them to an address from a wallet that you own.
I recommend you to purchase a safe hardware wallet like Ledger or Trezor.
Bitit Usability
Bitit is a very easy to use site, and it primarily is tailored for beginners and people that wants to buy or sell cryptos with fiat money (EUR, SEK, DKK, GBP, etc).
The site is easy to navigate and I can’t fault it for how it works from a UX point of view or the look and feel of it.
Bitit Customer support
Like many other exchanges Bitit have a help section that answers most of the common questions that you might have.
If you need further help from Bitit you can then contact them via email.
I reached out to them to see how quick and helpful they were and I got a reply within two hours for my question and with the help I needed.
If you do end up needing help from Bitit then I think they can be trusted to do the job to help you, but I guess it always depends on the issue you’re having.
Cryptocurrencis available
Bitit doesn’t have the same cryptocurrency support like Binance, but it has as good or better crypto-support compared to Coinbase.
So overall I’d say it has done a good job securing a lot of the most popular cryptocurrencies that people want to buy and sell.
At the time of writing this Bitit has 41 cryptocurrencies available, for the full list head over to their site.
Pros and cons of Bitit
Bitit pros
- Have a lot of payment methods available (card, bank and cash)
- Has a very good support for popular cryptocurrencies
- Easy to use and good for beginners
- Decent fees compared to the competition
Bitit cons
- Takes out a SEPA fee which is a bit unnecessary IMO
- You need to verify your identity before being able to use Bitit
- Only available for Europeans
Conclusion
Overall Bitit scores high on user-friendliness, payment methods available, the cryptos they support.
I think their fees are slightly on the higher side, but not worse than others and similar to most. But then again I tend to avoid purchasing cryptos with a card so 3.9% in fees is a lot to me but similar or better than others actually.
I am thinking they could have skipped the 0.25% SEPA fee as SEPA transactions should be free in most cases and they are so at other exchanges.
Otherwise I think Bitit is a reliable and easy to use site that I recommend for beginners especially.
I hope that this Bitit review has been helpful. Have you used Bitit and had a positive or negative experience? Please share your thoughts with us so more people can learn about Bitit.
Also if you have any questions about Bitit or how to buy, sell or know more about cryptocurrencies then get in touch with me and I’d be happy to help you.
Hello and welcome to Go Cryptowise.
My name is Per Englund and I’m a long-term fan and investor and trader of Bitcoin and other cryptocurrencies. I caught the attention of Bitcoin like many other several years ago, but it was first around 2016/2017 that I truly got into cryptocurrencies and blockchain technology.
I have since traded, bought, researched and learnt about this new emerging space to the fullest. When not producing crypto-content I create and design new products and businesses. And I want to combine my business experience with my passion to create meaningful content for all our readers.
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