Bitit Review: All You Need To Know

Since the inception of cryptocurrencies, we’ve seen numerous companies that took the initiative to promote the crypto market. Generally, European companies were the most successful cryptocurrency exchanges, and, in the meantime, some US based companies have risen to the top. One of the best European crypto exchanges is no other than Bitit, a company that provides us with all the tools for buying and selling Bitcoin as well as other alt coins. However, Bitit expanded their crypto market noticeably, and currently supports 18 cryptocurrencies and 14 fiat currencies. This move transformed Bitit into one of the most convenient and reliable cryptocurrency exchange platforms out there.

Bitit

9.2

Ease of Use

9.0/10

Reputation

10.0/10

Fees

8.0/10

Customer Support

9.0/10

Payment Methods

10.0/10

Available payment options

  • Credit/Debit Card
  • Cashlib
  • Neosurf
  • TrustPay

Unavailable payment options

  • Paypal
  • Cash

Key Information

Many compare Bitit with a similar crypto exchange service Coinhouse. While it’s debatable if these two share any similarities, it’s well-known that they were established in France. Bitit is a crypto exchange formed and based in Paris, with their main goal being to provide a large variety of cryptocurrencies for their users at some of the highest exchange speeds in Europe. Unlike many other European companies, this one is available in 50 countries worldwide, giving users from the USA, Canada, and most of Europe a chance to try it out.

Bitit Exchange review - Home Page

Bitit has improved tremendously over the years, which made them very popular, especially in Europe. What’s great about the company is that they openly state their physical location, so you know that it’s a legit, safe, and reliable crypto exchange. The users who decide to create an account on Bitit will be granted access to some of the highest transaction speeds in Europe, as well as a safe and easy exchange for every available cryptocurrency.

Pros/Cons

Pros

  • Simple account creation
  • Great for beginners
  • Bitit gift card
  • Supports wide variety of countries
  • Intuitive interface
  • Fast transactions
  • Accepts Credit/Debit cards

Cons

  • Higher fees
  • No mobile app
  • More limits than usual

Interested in how Bitit compares to other crypto exchanges? We have compared all major cryptocurrency exchanges in this article.

Is Bitit Safe to Use?

Before we answer this question, we need to refer to some of the things we’ve mentioned before. As we said, Bitit is a crypto exchange company based in France that specializes in various cryptocurrencies, including the most famous - Bitcoin. Although it’s a relatively new company, Bitit hasn't suffered any major hacker attacks and users are pretty satisfied with their services. Bitit was formed by three professionals in the crypto world, Nicolas Katan, Ugo Mare, and Simon Potier. Their main goal was to build an exchange platform that could protect and facilitate users’ financial well-being.

Aside from that, Bitit gets a lot of support from important European companies, which further expands their area of work. As for the safety, Bitit is known for its tight security, for both purchases and withdrawals.

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Customer Support

While Bitit offers a couple of physical addresses where you can get information, it’s a shame that they do not have a phone number that their users can call if in need of customer support. Sure, it’s great when you are from Paris and you need some help, because you can always visit some of their offices and get your answers. However, the lack of phone support is pretty disappointing. This means that the users from France, especially Paris benefit the most.

Bitit also offers 24/7 help where you can… well, read some articles from their FAQ page or send them an email if you need help or have the issues. If you take a look at their FAQ section, you can see that they have a majority of things covered here. You can learn more about account security, verifications and limits, Bitit gift card, and much more.

But, do you really need all of that? What if there is some urgent issues to fix? In that case, Bitit offers a ticket system where you can fill in your email, some basic info about yourself and send them an email. As of now, they still have a lot to improve, which tells us that they can’t compete with the world’s best crypto exchanges in this category.

Countries Allowed

Bitit is known as the worldwide crypto exchange service because it supports 50 countries from all over the world, which drastically increases company’s reputation and credibility. Even though only 50 countries are supported, they are located in all four corners of the world. Most of European countries are supported, even some of the ones not supported by the other exchanges. Other supported countries include USA, Canada, China , Columbia, and many others. You can see some of the supported countries in the list below:

  • Albania
  • Algeria
  • Armenia
  • Australia
  • Bahrain
  • Belgium
  • Bosnia and Herzegovina
  • Colombia
  • Croatia
  • Cuba
  • Israel
  • Luxembourg
  • Malaysia
  • Norway
  • Serbia
  • Slovakia
  • Switzerland
  • United Kingdom
  • USA
  • Uruguay

It is important to mention, Bitit promises that more countries will be added over time, which will give them a trait only a handful of exchanges have, the “support for all the countries in the world”.

For a full list of supported countries, you can click here. Also, Bitit promises that more countries will be added over time, which will slowly bring them to that true worldwide support.

Ease of Use

Bitit Exchange review - Sign Up

Bitit is an embodiment of an easy-going website that looks nice and sleek. You won’t be overwhelmed with the unnecessary info here, as Bitit gets things going pretty fast. You have the option to buy Bitcoins or any other crypto directly or Sign Up first. Luckily, the “Sign Up” button is located in the upper right corner of the website, so you can access it easily.

"Great company! I made sure that my ETH wallet can receive smart contract deposits, and I received my ETH really fast in 10min."

Likky

You are probably wondering if you need to put an enormous amount of effort into the sign up process. Not really. After accessing the signup window, you need to provide your first name, last name, email, and password. Soon after you do that, a new window will open where you'll have to provide your physical address, as well as your mobile number. If you don’t mind providing your personal info, you can complete this step. However, if you want to stay anonymous, we strongly recommend that you skip it.

If you provide your email address and mobile number, you’ll get a standard account, which is enough if you don’t plan on buying and selling huge amounts of crypto. To be precise, you get a limit of $180 per day. So, if you are satisfied with this amount, Bitit is a perfect choice!

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Reputation

When it comes to Bitit’s reputation, you will only hear good things because Bitit is known for their fast crypto delivery and huge improvements they made over the years in terms of user experience. Just a couple of years ago, Bitit was limited to Bitcoin and Etehreum, until they made some improvements and opened their doors to a wide variety of cryptocurrencues. Nowadays, Bitit works with Eos, Ether Classic, Qtum, Omisego, Bitcoin Gold, Civic, Digibyte, Ripple, and many other cryptocurrencies.

If we take a look at the other European crypto exchanges, we can see that Bitit showed the best results over the year. On top of that, they are active on social media and their fan base is always growing. It still remains to be seen how will Bitit fare during the years to come, as some users started reporting relatively high fees, but you can read about that in the next section of the review.

Follow Bitit on their social media below

Fees

Bitit is known for its relatively high fees compared to other crypto exchanges. While it’s arguable that they shine when it comes to their speed and efficiency, the fees are what may turn down both new and existing users. The fees will greatly vary depending on the type of transaction you choose. The fees may vary anywhere between 3-12%. For comparison, BitPanda’s fees don’t go over 2.7%, regardless of transaction type.

Bitit Exchange review - Fees

The lowest fees are around 3% and those are reserved for direct banking. While the credit card transaction is your best bet, you’ll be charged a fee of around 7%, which is more than double. The highest fees come with using Cashlib and Neosurf, and they can go up to 12%. Overall, most of the users are using credit and debit cards so this may be an issue for them.

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Payment Methods

Bitit offers a couple of payment methods for which the fees vary greatly, as we mentioned before. The first and the best payment method is credit/debit card. Really, you can't get a better transaction than this one. It’s fast, reliable, and you get your coins within half an hour. But, this method isn’t the most efficient as it comes with a 7% fee.

Bitit Exchange review - Payment Methods

Bitit has its own card which you can use this card for transactions with the fee of around 6%. From the fees standpoint, it’s best to use wire transfer, but not everyone can use this one. This method will take about 3% of your transaction, but as we said, it’s not available for everyone.

Despite its high fees, Bitit lets you choose from multiple payment methods, so we can’t say the options are not diverse. The addition of PayPal would be great, but there is no official news or rumors about it yet.

Sending Crypto from Bitit

Sending the crypto you’ve bought from Bitit is possible and works very well for the most part. First, be sure to log into your account as you need to provide some info before making a transaction. Depending on your account’s limits, you can buy a certain amount of crypto like Bitcoin, Ethereum, etc. In the upper part of the “Buy” window, you can select a crypto you would like to buy.

Bitit Exchange review - Buy Cryptocurrencies

Just underneath, select your payment method and type the amount of currency you want to buy. Beware that you can’t buy crypto with crypto since Bitit has a crypto wallet only for your withdrawal. Next, click on the green button labeled as “Add a wallet” to enter your crypto wallet address. Upon entering the address, simply click Next and you can expect your coins to arrive in about half an hour.

Receiving Crypto to Your Bitit Account

Receiving crypto to your Bitit account is not possible. Unfortunately, Bitit doesn’t offer an option to create your wallet, although you can add your crypto wallet(s) address(es) for Bitit to remember. For example, you can assign one of your wallets for Bitcoin, while the other can be for Ripple or Litecoin. As much as it’s great that Bitit doesn’t store your crypto, it still remembers your wallet address, which can also be compromising.

If you don’t want Bitit to take have your wallet address in their database, you can simply enter the address upon purchase. This way, you’ll ensure that your address isn’t kept anywhere on the site. All in all, we respect this decision, as you can always make your crypto wallet within seconds, outside of Bitit.

Conclusion

If you don’t mind higher fees, you will be really happy with Bitit. Their beautiful interface, lots of payment methods, and fast delivery are what may keep you as a regular for quite some time. When it comes to the payment methods, Bitit is probably the best crypto exchange in Europe and one of the best worldwide. For those who worry about the security, this crypto exchange is very safe as they don’t store any of you cryptocurrency on the website.

Furthermore, Bitit takes good care of its customers by providing them with a solid FAQ section, and an average customer support overall. Since we haven't reviewed a crypto exchange that supports this amount (18) of cryptocurrencies, we’re pleasantly surprised by Bitit.

Despite all that, is Bitit still a great option for crypto exchange in 2018? Chances are that you’re going to be more than satisfied with Bitit, even though they have a bit higher fees. Nonetheless, their transaction speed and cryptocurrency selection are among the best out there. You can easily create an account and try it for yourself. It's a great website for both beginners and experienced crypto users, as they can maximize their exchange potential for years to come.

You can check out all of the most popular cryptocurrency exchanges in one article here.

Have you traded on Bitit? Do you have any advice or suggestion for the other readers? Let us know in the comment section below!

Similar Exchanges:

Coinhouse is a well-known crypto exchange company that operates mainly in Europe, and their goal is to provide their users with the means of buying, selling, and exchanging crypto with ease and in a short period of time.

BitPanda is a company established in late 2014 when cryptocurrencies were not even close to the popularity they have now and it is one of the best exchanges out there.

Coinhouse is a well-known crypto exchange company that operates mainly in Europe, and their goal is to provide their users with the means of buying, selling, and exchanging crypto with ease and in a short period of time.

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