If you heard of Bitcoins or any other kind of altcoins you may wonder how you can get your hand on a few of these digital currencies. The first option to growing your cryptocurrency portfolio is often by trading through the crypto exchanges. These platforms offer an intriguing insight on how to market the digital assets with services of liquidity and listing to assist you to become a crypto trader. The only downside is choosing from the hundreds of crypto exchanges on which is the right pick. Consequently, that means you should always seek firsthand informative review on these trade portals. Here one such analysis of a crypto exchange (Bitit) aiming to offer similar services.
Bitit is KYC and AML-compliant crypto exchange that services 50 countries across the globe with trading services in Bitcoin, Ethereum, and Bitcoin Cash. The crypto platform will facilitate the buying and sell payments made via debit or credit cards, vouchers (prepaid tickets) and direct banking. Additionally, Bitit will work under a 3D secure credit card and a cash-based system using Neosurf, Cashlib and Flexepin vouchers to allow users in the USA, EU, Australia and Canada to trade their bitcoins and altcoins.
How Bitit Works
Bitit is rather quite simple when it comes to purchasing bitcoins through their platform. The user only needs to register through their main website, by including their personal information. These will help create your account credentials and consequently secure your trading profile.
Buying the Bitcoins will be through credit cards that include Visa, MasterCard, and Maestro. Each of these cards will allow a purchase of 500 euros Bitcoin for each investor in a week as the maximum spending. The voucher payment methods allow for a higher purchase within a week that stands at 2,500 euros. However, these limitations are only temporary and can increase upon request.
What Are the Pros and Cons to Using Bitit the Platform?
- Rewards for those who transact within Bitit
- Referral program- the Bitit Booster program allows for an affiliate channel from where users can earn an extra 1% on their friend's Bitcoin purchases.
- High level of security- Bitit boosts of having one of the most secure payment services with a 3D secure cards and voucher coupons.
- Convenience- although not an entirely proper platform for trading, Bitit quite intuitive and speedy when it comes to using.
- Quick customer service that is responsive within 24 hours
- Commissions form purchasing through the platform
- Poor chat services with no live query access.
- Limits on purchases with requirements for your credentials including your ID.
- No tracking of payments
Bitit presents itself as a much more straightforward and flexible trading option even form the most novices of users. Although they do face some underlying challenges, there still can improve on these areas. Ultimately that means if you aim to use the website it would be best to avoid. While Bitit does seem attractive with its simplicity, it is still relatively new compared to other more established exchanges.
Additionally, it is wise to remember that there is no full guarantee with transfers and there do have a history of being compromised. The safest action to take is always to park your cryptocurrencies in an offline hardware wallet to reduce your degree of risk.