Bitrush, found online at Bitrush.nl, is a platform where you can buy and sell bitcoin and other cryptocurrencies. Find out how it works today in our review.
What Is Bitrush?
Bitrush promises to be a convenient and reliable way to buy and sell bitcoin and other cryptocurrencies. The website currently offers transactions in Bitcoin, Bitcoin Cash, Litecoin, Ethereum, and Dash.
To be clear, there are several companies operating under the name Bitrush online. There’s a bitcoin payment platform developer found online at Bitrush.co. There’s a bitcoin investment scam (HYIP) found online at Bitrush.org. Today, we’re talking about Bitrush.nl, however, which is a straightforward bitcoin purchasing website based in Amsterdam.
Bitrush.nl was founded in 2014. Today, the company allows users to purchase bitcoin using iDEAL, Bancontact, and MyBank at a low rate and minimal ID verification requirements. You can also purchase with credit cards, although you’ll be charged a higher fee and need to undergo ID verification procedures.
How Does Bitrush Work?
Here’s the basic process you can use to buy and sell bitcoin at Bitrush:
Step 1) Enter the amount you wish to spend, or the amount of bitcoin you wish to purchase
Step 2) Select your desired payment method
Step 3) Enter your coin address and you’ll receive purchased coins at your address
To prevent money laundering, Bitrush.nl forces uses to undergo KYC/AML verification on amounts over 2500 EUR. Amounts lower than that, however, just require a verification code sent to your mobile phone.
Certain purchases are also subject to the cooling down period. That cooling period means if you place an order for 250 EUR, then you’ll keep a purchase limit of 200 EUR for the following two working days. If you exceed the 200 EUR limit, your bitcoins will be temporarily retained. In other words, Bitrush basically freezes a portion of your funds for a 2 day cooling period while your payment is processed and verified.
You can purchase bitcoin using credit card, iDeal, Bancontact, and MyBank. Bitrush’s website also features a “bitcoin stock” listing where you can see the amount of bitcoin the website has made available for purchase.
Meanwhile, if you’re selling bitcoin, you’ll enter the bitcoin address, enter your IBAN bank account number, then enter your email address.
Bitrush clearly lists it bitcoin and crypto exchange rates online at the front page of the website. Depending on your payment method, you’ll pay an additional fee – including a fee of up to 6.27% on credit cards. Here’s how fees break down:
- iDEAL: 0.37 EUR
- Bancontact: 0.22 EUR + 1.40%
- MyBank: 0.22 EUR + 1.52%
- Credit Cards (VISA and MasterCard): 0.31 EUR + 6.27%
ID verification is always required when paying with credit card. However, it’s not required on bank transfers (iDEAl, Bancontact, and MyBank) if you’re buying less than 2500 EUR. All payment methods are subject to the cooling period.
Who’s Behind Bitrush?
Bitrush is based in Amsterdam, the Netherlands. The company’s office, phone number, and email address are all publicly listed online at their contact page.
Bitrush is one of many websites where you can buy bitcoin online. The site seems particularly good for Europeans accustomed to transferring money with iDEAL, in which case Bitrush charges a fee of just 0.37 EUR (with no percentage-based fee charged). Bancontact and Mybank transfers also come with low fees.
Using Bitrush, you can purchase bitcoin and other popular cryptocurrencies directly from your bank account or credit card. The website has been operating since 2014. Based on all we can find online, Bitrush seems like a legitimate crypto marketplace where you can buy and sell bitcoin.