BTCBIT review: is a safe exchange or a scam? (09.2023)
What do we know about
BTCBIT?
According to the data we possess, it appears to be a
quite reputable,
quite respectable,
well established,
not the worst
exchange service.
It's a broker
successfully
operating for
about
6 years and
4 months.
BTCBIT supports
some of the popular
crypto.
BTCBIT operator is
regulated, licensed financial company
fully compliant with the local and international regulation, etc.
Clients from
221
countries & territories
are welcome here,
together with your home country: United States!
Broker serves the US and allows registrations from
50
states.
Our visitors decided the customer service as
below average;
the exchange process is rather slow and may take about an hour
(or smth close).
Specific types of orders may require identity verification
to exchange crypto on this broker.
Starting from
2017,
btcbit.net
received many feedback and a number of
nice reviews
from the clientele;
our platform alone
counted
9
customers testimonials,
89%
positive reviews.
The major part of the actual clients admired the
fast order processing,
while judged the
low quality of the customer support,
delays with the account verification
above all.
Despite the fact
hadn't yet collected enough data to list these guys
among the rest of the approved exchange services
(more information below) and therefore can't yet assign the rating to this
broker, we can
propose a preliminary evaluation:
97/100.
Looks impressive!
Nevertheless,
96%
of the competitors can show off a higher score;
some examples:
WMexpress &
chby
were rated with a lesser number, at the same time
TransCoin
(100 out of 100)
got a greater score from the real users.
So, what's our opinion so far? Based on the information we currently hold,
BTCBIT should be a
fairly legitimate and
most likely, very safe
site to
swap
Bitcoins;
an auspicious service with a remarkable reputation on the market, the one we are hopeful and optimistic about!
Let's appraise everything in details...
Overview: is BTCBIT safe?
BTCBIT
operates as the
Broker.
BTCBIT Sp. z o.o.
(dba BTCBIT)
started doing business back in
May 2017.
The main office is located in
Krakow,
Poland.
Official BTCBIT address is Ul. Gesia 8 - 205, 31-535.
The firm is a licensed financial service provider, regulated by the Finantsinspektsioon (Estonian Financial Supervision and Resolution Authority);
it obtained the
Money Transmission license.
BTCBIT CEO is
Jevgenijs Podbrezskis.
Although the company is based in Poland, it has operational offices in Latvia and Estonia.
Although BTCBIT started the business relatively not a long time ago, it gained a lot of positive reviews. Despite a big percentage of the exchange brokers ("exchangers") in Eastern Europe are operating without any financial licenses and some are not very transparent businesses, this one is a licensed and regulated one. This fact adds credibility and makes dealing with this exchange safer for customers.
So what we'll decide, how safe is
BTCBIT?
BTCBIT wasn't rated yet.
What does it mean, is it secure to use this
broker?
Despite btcbit isn't yet fully listed and has no rating
@ ExchangeRates.Pro,
it doesn't mean it's a scam website ,
but some people weren't pleased and reported bad experience dealing with this broker.
We are very careful with new additions to our listing,
especially for less regulated Brokers
and (among all other procedures) postpone the decision until we receive
at least a few reports from real users that we can verify.
This ordinary takes
rather a long time;
we already have 37
well-examined websites in our listing, nevertheless, we never rush to add more.
With 10,983
ways to buy and sell BTC worldwide,
including 54
local ones for United States and USD,
why urge? For now, we can already state that
although it's a bit early to make conclusions,
BTCBIT
most likely will be included in our approved services list
(if we don't receive any negative reviews of course).
Let's keep an eye on it!
97/100, the proposed rating for the
btcbit.net so far says that
it should be safe enough to do business here
as we trust.
Now let's break down our assumed rating for BTCBIT,
how it was calculated:
Altogether, the preliminary rating for BTCBIT
is
97 / 100
Research:
best alternative to BTCBIT
By reason of we can't (yet?)
endorse the btcbit.net,
you may feel safer choosing the website we've already appraised and checked in full.
Therefore
we took the liberty to research the market and suggest
a viable, well-known, 100% trusted alternative exchange platform.
How we did it? Let's explain! Makes sense to start from figuring
out what exactly we are looking for:
A glance at the service specifics confirms that
BTCBIT employs the business model of a
Broker;
BTCBIT Sp. z o.o.
(dba BTCBIT)
started the business in May 2017.
An entity is in the business for
6 years
and
4 months
and gained some popularity on the market.
The company bases in the
Poland
with the headquarters located in Krakow.
The firm is the licensed MSB, regulated by the Finantsinspektsioon (Estonian Financial Supervision and Resolution Authority);
it possesses the
Money Transmission license.
BTCBIT
CEO is
Jevgenijs Podbrezskis.
Please note that it's just a super-small snapshot of what we've discovered,
details about the business model are available in the
"what we already know about btcbit"
section.
Considering all the abovementioned,
we were looking for another
broker allowing registrations from
United States
with a flawless reputation and the best rating
and found a perfect match:
TransCoin!
Let's figure out what makes it the safest choice:
TRANSCOIN
is also a
Broker;
exchange started to provide the services in May 2018.
It is a
really trusted,
surely a respectable,
well established,
interesting
exchange platform
(broker) that supports
1
cryptocurrency:
you can
This is what we value the most about this great exchange service:
- It is a respectable financial company; the firm holds required license(s) and is fully compliant with the regulation
- The business model of an exchange broker doesn't require to store the customers' money,
there are no accounts, etc. The crypto (or fiat) payment will be instantly delivered to a wallet (bank or fiat payment system)
of your choice
- The exchange runs the business for a long time;
project was started
5 years
and
4 months
ago
- TransCoin
accepts the registrations from 255 countries;
customers from United States
can use the services
- Customers' testimonials are top notch,
100% (5 out of
5) wrote about the positive experience doing business with TransCoin.
According to our research and the community vote, TransCoin is the best Broker worldwide.
That's a really outstanding result,
considering that we compare 333 exchange platforms!
Long story short, this means that
transcoin.me
truly stands out in terms of reliability, reputation, etc. - you name it...
We are sure, you won't regret your choice!
So, let's conclude: the best alternative to
BTCBIT is
TransCoin,
a perfectly safe and trusted
broker, rated
100/100.
Such score is really, really hard to get,
only very exchange services managed to get such a high rating!
Let's break down how the transcoin.me exchange could get such a scoring.
Overall scoring for TransCoin:
100 / 100
BTCBIT fees, limits, verification, etc.
Even though we still consider if we should add BTCBIT
to the list of approved exchange platforms
and are in process of gathering and evaluating the information,
we've already collected some data worth sharing.
The business appears like a
pretty stable and reliable
broker
running
almost flawlessly
from May 2017.
The operator of BTCBIT
is a regulated entity,
a financial company holding all the licenses and permissions required by the law;
it's fully compliant with the regulation in
Poland.
BTCBIT
definitely stands out of the (most of the) competition;
unfortunately, the majority of the Brokers have much less solid business model.
btcbit.net is a broker, sort of "crypto exchange bureau" online.
Buying and selling
aside, there's usually not much to do on such a website;
but isn't it exactly what we are looking for?
On a positive note, the brokers don't hold the clients' funds and typically require less trust, etc.
Dealing with a reputable service of the sort
(that seems especially correct for the
BTCBIT case)
is virtually risk-free, especially if you don't send a lump sum at once.
Our visitors who've already tried the services of
broker left
not very good
recommendations.
To be frank, that doesn't look good;
even not yet listed, the service already receives complaints.
Please be extra careful!
Fees & Limits at BTCBIT
We normally analyze the fees and limits even for the exchanges that are not yet listed but are in the "watch list",
while we are considering if we should add these sites or not.
Unfortunately, due to some technical issues
the integration with BTCBIT is not yet set,
and therefore we can't state anything about the fees and purchase limits at this
broker.
Please accept our apologies!
BTCBIT account verification
The broker may ask the customers to complete the user identification
process (account verification) when certain conditions are met.
Being a financial institution,
BTCBIT Sp. z o.o.
has certain obligations to the regulatory bodies and won't be allowed to operate
without complying to the AML and CTF framework.
BTCBIT Sp. z o.o. managing BTCBIT
web site, follows the KYC (Know Your Customer) policy
like any other officially registered exchange business.
You'll get acquainted with the details during an order submission.
In the opinion of
the actual BTCBIT customers:
an average time how long it takes to verify your account is
a couple of days, no less.
It appears like this site team approves the customers' applications really slow.
From the bright side,
you have to identify yourself only once!
Supported countries
The website allows the user registrations from 221
countries.
The following countries and territories are in the supported list:
-
Aland Islands
(AX)
-
Albania
(AL)
-
American Samoa
(AS)
-
Andorra
(AD)
-
Angola
(AO)
-
Anguilla
(AI)
-
Antarctica
(AQ)
-
Antigua & Barbuda
(AG)
-
Argentina
(AR)
-
Armenia
(AM)
-
Aruba
(AW)
-
Ascension Island
(AC)
-
Australia
(AU)
-
Austria
(AT)
-
Azerbaijan
(AZ)
-
Barbados
(BB)
-
Belarus
(BY)
-
Belgium
(BE)
-
Belize
(BZ)
-
Benin
(BJ)
-
Bermuda
(BM)
-
Bhutan
(BT)
-
Bouvet Island
(BV)
-
Brazil
(BR)
-
British Indian Ocean Territory
(IO)
-
British Virgin Islands
(VG)
-
Brunei
(BN)
-
Bulgaria
(BG)
-
Burkina Faso
(BF)
-
Burundi
(BI)
-
Cameroon
(CM)
-
Canada
(CA)
-
Canary Islands
(IC)
-
Cape Verde
(CV)
-
Caribbean Netherlands
(BQ)
-
Cayman Islands
(KY)
-
Central African Republic
(CF)
-
Ceuta & Melilla
(EA)
-
Chad
(TD)
-
Chile
(CL)
-
Christmas Island
(CX)
-
Cocos (Keeling) Islands
(CC)
-
Colombia
(CO)
-
Comoros
(KM)
-
Congo - Brazzaville
(CG)
-
Congo - Kinshasa
(CD)
-
Cook Islands
(CK)
-
Costa Rica
(CR)
-
Côte d’Ivoire
(CI)
-
Croatia
(HR)
-
Curaçao
(CW)
-
Cyprus
(CY)
-
Czech Republic
(CZ)
-
Denmark
(DK)
-
Diego Garcia
(DG)
-
Djibouti
(DJ)
-
Dominica
(DM)
-
Dominican Republic
(DO)
-
Ecuador
(EC)
-
Egypt
(EG)
-
El Salvador
(SV)
-
Equatorial Guinea
(GQ)
-
Eritrea
(ER)
-
Estonia
(EE)
-
Falkland Islands
(FK)
-
Faroe Islands
(FO)
-
Fiji
(FJ)
-
Finland
(FI)
-
France
(FR)
-
French Guiana
(GF)
-
French Polynesia
(PF)
-
French Southern Territories
(TF)
-
Gabon
(GA)
-
Gambia
(GM)
-
Georgia
(GE)
-
Germany
(DE)
-
Gibraltar
(GI)
-
Greece
(GR)
-
Greenland
(GL)
-
Grenada
(GD)
-
Guadeloupe
(GP)
-
Guam
(GU)
-
Guatemala
(GT)
-
Guernsey
(GG)
-
Guinea
(GN)
-
Guinea-Bissau
(GW)
-
Guyana
(GY)
-
Haiti
(HT)
-
Heard Island and McDonald Islands
(HM)
-
Honduras
(HN)
-
Hong Kong SAR China
(HK)
-
Hungary
(HU)
-
India
(IN)
-
Indonesia
(ID)
-
Ireland
(IE)
-
Isle of Man
(IM)
-
Israel
(IL)
-
Italy
(IT)
-
Jamaica
(JM)
-
Jersey
(JE)
-
Jordan
(JO)
-
Kazakhstan
(KZ)
-
Kenya
(KE)
-
Kiribati
(KI)
-
Kosovo
(XK)
-
Kyrgyzstan
(KG)
-
Laos
(LA)
-
Latvia
(LV)
-
Lesotho
(LS)
-
Liberia
(LR)
-
Liechtenstein
(LI)
-
Lithuania
(LT)
-
Luxembourg
(LU)
-
Macau SAR China
(MO)
-
Macedonia
(MK)
-
Madagascar
(MG)
-
Malawi
(MW)
-
Malaysia
(MY)
-
Maldives
(MV)
-
Mali
(ML)
-
Malta
(MT)
-
Marshall Islands
(MH)
-
Martinique
(MQ)
-
Mauritania
(MR)
-
Mauritius
(MU)
-
Mayotte
(YT)
-
Mexico
(MX)
-
Micronesia
(FM)
-
Moldova
(MD)
-
Monaco
(MC)
-
Mongolia
(MN)
-
Montenegro
(ME)
-
Montserrat
(MS)
-
Morocco
(MA)
-
Mozambique
(MZ)
-
Myanmar (Burma)
(MM)
-
Namibia
(NA)
-
Nauru
(NR)
-
Nepal
(NP)
-
Netherlands
(NL)
-
New Caledonia
(NC)
-
New Zealand
(NZ)
-
Nicaragua
(NI)
-
Niger
(NE)
-
Niue
(NU)
-
Norfolk Island
(NF)
-
Northern Mariana Islands
(MP)
-
Norway
(NO)
-
Palau
(PW)
-
Panama
(PA)
-
Papua New Guinea
(PG)
-
Paraguay
(PY)
-
Peru
(PE)
-
Philippines
(PH)
-
Pitcairn Islands
(PN)
-
Poland
(PL)
-
Portugal
(PT)
-
Puerto Rico
(PR)
-
Réunion
(RE)
-
Romania
(RO)
-
Russia
(RU)
-
Rwanda
(RW)
-
Samoa
(WS)
-
San Marino
(SM)
-
São Tomé & Príncipe
(ST)
-
Senegal
(SN)
-
Serbia
(RS)
-
Seychelles
(SC)
-
Sierra Leone
(SL)
-
Singapore
(SG)
-
Sint Maarten
(SX)
-
Slovakia
(SK)
-
Slovenia
(SI)
-
Solomon Islands
(SB)
-
Somalia
(SO)
-
South Africa
(ZA)
-
South Georgia & South Sandwich Islands
(GS)
-
South Korea
(KR)
-
Spain
(ES)
-
Sri Lanka
(LK)
-
St. Barthélemy
(BL)
-
St. Helena
(SH)
-
St. Kitts & Nevis
(KN)
-
St. Lucia
(LC)
-
St. Martin
(MF)
-
St. Pierre & Miquelon
(PM)
-
St. Vincent & Grenadines
(VC)
-
Suriname
(SR)
-
Svalbard & Jan Mayen
(SJ)
-
Swaziland
(SZ)
-
Sweden
(SE)
-
Switzerland
(CH)
-
Taiwan
(TW)
-
Tajikistan
(TJ)
-
Tanzania
(TZ)
-
Thailand
(TH)
-
Timor-Leste
(TL)
-
Togo
(TG)
-
Tokelau
(TK)
-
Tonga
(TO)
-
Trinidad & Tobago
(TT)
-
Tristan da Cunha
(TA)
-
Turkey
(TR)
-
Turkmenistan
(TM)
-
Turks & Caicos Islands
(TC)
-
Tuvalu
(TV)
-
Ukraine
(UA)
-
United Arab Emirates
(AE)
-
United Kingdom
(GB)
-
United States
(US)
-
Uruguay
(UY)
-
U.S. Outlying Islands
(UM)
-
U.S. Virgin Islands
(VI)
-
Uzbekistan
(UZ)
-
Vatican City
(VA)
-
Venezuela
(VE)
-
Vietnam
(VN)
-
Wallis & Futuna
(WF)
-
Western Sahara
(EH)
-
Zambia
(ZM)
-
Zimbabwe
(ZW)
Does BTCBIT allow the users from United States (US)?
That's right, it does!
btcbit.net permits the registrations from the United States!
Broker grants access to the customers from
50 states and territories
to join the website and use the buying/selling services:
- Alabama (AL)
- Alaska (AK)
- American Samoa (AS)
- Arizona (AZ)
- Arkansas (AR)
- California (CA)
- Colorado (CO)
- Delaware (DE)
- District of Columbia (DC)
- Florida (FL)
- Guam (GU)
- Idaho (ID)
- Illinois (IL)
- Indiana (IN)
- Iowa (IA)
- Kansas (KS)
- Kentucky (KY)
- Louisiana (LA)
- Maine (ME)
- Maryland (MD)
- Massachusetts (MA)
- Michigan (MI)
- Minnesota (MN)
- Mississippi (MS)
- Missouri (MO)
- Montana (MT)
- Nebraska (NE)
- Nevada (NV)
- New Hampshire (NH)
- New Jersey (NJ)
- North Carolina (NC)
- North Dakota (ND)
- Northern Mariana Islands (MP)
- Ohio (OH)
- Oklahoma (OK)
- Oregon (OR)
- Pennsylvania (PA)
- Puerto Rico (PR)
- Rhode Island (RI)
- South Carolina (SC)
- South Dakota (SD)
- Tennessee (TN)
- Texas (TX)
- U.S. Virgin Islands (VI)
- Utah (UT)
- Vermont (VT)
- Virginia (VA)
- West Virginia (WV)
- Wisconsin (WI)
- Wyoming (WY)
American residents and the U.S. citizens are welcome to
convert various crypto currencies offered by the broker.
Ops, sorry!
Can't get an access to the data regarding the US operations of BTCBIT.
While we are fixing that, please explore the exchange's website;
there's a list of payment systems supported, etc.
Customers' testimonials
Until Sep 2023
our users who already tried the broker left
9 testimonials:
8
positive reviews,
1
negative report.
The testimonials we are receiving from our dear visitors are the most vital for our assessment
should we add BTCBIT to the approved exchanges list or not.
Do you have any experience dealing with the broker?
If you do, please spend a few seconds and share your expertise.
We'd love to know what's your personal opinion about BTCBIT!
I bought some BTC here using my card. All was OK!!
I use this exchange to sell my BTC and get hard cash to my VISA. Works awesome, cool site!
SantaCruz,
4
testimonials
@ 25 Dec 2019
Stacking sats here with the help of my VISA card. Everything is smooth, nice exchange!
CARD => CRYPTO went perfectly secure, fast and easy! Nothing more to say, great service, I RECOMMEND!
Emperor S.,
4
testimonials
@ 19 Sep 2019
exchanged CARD USD to BTC here all OK!! fine exchange
I'm using btcBit to purchase cryptos with my debit card, so far I like the service! I tried several exchanges of this sort and must say I prefer this one, BTCBIT is cool one to buy cryptocurrency with your card for sure!
Satoshi N.,
72
testimonials
@ 06 Sep 2019
No more testimonials to show.
The rest are either outdated or written in other languages.
If you have any experience dealing with BTCBIT, can you please
leave your testimonial?
Thanks!
What can we say? So far, the reviews are
uncertain,
89%
positive testimonials
is not the best result we've seen,
but since there's just 6
testimonials added so far,
let's not be judgemental and give the
broker some time to work on improvements
and solve this!
Do you have something to add?
Can't wait to hear from you!
FAQ about BTCBIT
Does BTCBIT holds my funds?
It does not! One of the best things dealing with the brokers is that unlike most of other exchanges, such businesses instantly deliver your funds to your own wallet after the payment clearance.
Is BTCBIT a good broker?
Seems BTCBIT is a very good broker! We can say so based on the score the exchange got at our platform and the customers' testimonials analysis. The details are explained in this review and we break down a score in the overview section.
Is BTCBIT licensed? Does it hold e-money license?
Yes, BTCBIT Sp. z o.o. (entity doing business as BTCBIT exchange) is licenced and regulated financial company. It holds Money Transmission license and is regulated by the Finantsinspektsioon (Estonian Financial Supervision and Resolution Authority) of the Poland.
Is BTCBIT a ripoff?
Seems that it's not a rip-off, but there are some complaints still unresolved yet. The details are explained in this review and we break down a score in the overview section.
Can I trust BTCBIT with my money?
BTCBIT seems very trustworthy and is trusted by the community, "5 stars" rating our platform proposes for the broker requires years of successful operations and much more, read why we preliminary assess the 97/100 result for the exchange. As far as we know, the community trusts broker almost blindly, so you likely won't regret believing them. And remember, whatever service you use, it never hurts to test it with a smaller amount first! Particularly if some other people weren't happy with the service.
Is BTCBIT instant?
Exchange with BTCBIT is not instant, although as far as we know, the broker operators execute all the orders in minutes; it feels almost like a fully automated service.
BTCBIT vs other exchanges
In case you prefer to deal with a broker
that was already fully checked and rated by our reviewers, algorithms, and the
actual clientele,
we took the liberty to compile a list of alternative sites
you may use instead of BTCBIT. There are similar exchanges providing
more or less the same services; let's see what else is available right
away and compare it to the reviewed business!
Besides, we found platforms having similar rating
that are popular in United States particularly and
North America
in general.
And by the way, if you are eager to pick an exchange basing on a rate and fees mostly,
our price comparison platform always finds the
most reasonable exchange rates in
United States!
BTCBIT vs 1-online
A comparison of the key features and the principal facts about
1-ONLINE versus BTCBIT;
just take a glance to decide if
1-online will be the optimal choice for you or at least if it's worth checking our full study:
-
1-online is a broker
The way btcbit.net website functions
fits the broker format,
both following the same approach to the business.
-
1-online had launched the service February 2017
BTCBIT started the project May 2017
(1-online is operating for
3 months longer).
-
1-online operates without any registration or no information is available about the legal entity
BTCBIT
obtained all the required permissions, got licensed, etc.
(BTCBIT 's approach to the business made it a safer and more stable solution).
-
1-online allows users' registrations from 255 countries;
and we are glad to say that the people from
United States are welcome
You are permitted to register at the
BTCBIT
being a resident of any of
221 countries;
United States is granted with an access
among all others
(BTCBIT
green-lights some less countries).
-
According to our users feedback, the quality of customer care at the 1-online
is
5.0 / 5.0
The score that our visitors assigned to customers' service at BTCBIT
happens to be
1.0
(BTCBIT
customers' care got lower rating).
-
When the client needs to pass through the KYC process at 1-online,
they usually ask to provide some (it depends on various factors)
documents and / or specific procedures
In most of the cases, it takes
no less than 1-2 days,
as per the actual clientele survey results
The process of Customer Identification at BTCBIT
typically involves
a few (varies case-by-case)
individual procedures.
It ordinarily requires
up a couple of days
(BTCBIT & 1-online alike
abide by the roughly analogous KYC policies requiring a user to complete almost identical stages during the verification).
-
As per our analysis of the community feedback, 1-online currently process orders to deposit and withdraw funds
instantly, without any delay at all or in matter of seconds
The actual BTCBIT users
reported that the process of a deposit or withdrawal took about
1 hour, not longer
(BTCBIT
completes the deposit and withdrawal requests in a more delayed manner).
-
Our visitors shared 5
reviews about 1-online,
100%
of those are positive
As of today, BTCBIT gained
9
clients testimonials,
89%
of these are positive
(BTCBIT
got more judgemental, less favorable user reviews).
So, is 1-online a better alternative to
BTCBIT?
Such a conclusion by any means can't be drawn by us instead of you,
but we'll try to assist with the matter.
Since the 1-ONLINE exchange service
got a lower rating at our platform:
67 versus 97 that
BTCBIT
accomplished,
our advice is either to go for BTCBIT,
or, even better to look into few others first;
particularly the ranked "best-of-the-best"
TransCoin!
Like reading? In fact, there are more exchanges worth comparing to BTCBIT,
such as:
BTCBIT vs 100monet
A comparison of the key features and the principal facts about
100MONET versus BTCBIT;
just take a glance to decide if
100monet will be the optimal choice for you or at least if it's worth checking our full study:
-
100monet is a broker
The way btcbit.net website functions
fits the broker format,
both following the same approach to the business.
-
100monet had launched the service December 2014
BTCBIT started the project May 2017
(100monet is operating for
2 years and 5 months longer).
-
100monet operates without any registration or no information is available about the legal entity
BTCBIT
obtained all the required permissions, got licensed, etc.
(BTCBIT 's approach to the business made it a safer and more stable solution).
-
100monet allows users' registrations from 255 countries;
and we are glad to say that the people from
United States are welcome
You are permitted to register at the
BTCBIT
being a resident of any of
221 countries;
United States is granted with an access
among all others
(BTCBIT
green-lights some less countries).
-
According to our users feedback, the quality of customer care at the 100monet
is
5.0 / 5.0
The score that our visitors assigned to customers' service at BTCBIT
happens to be
1.0
(BTCBIT
customers' care got lower rating).
-
When the client needs to pass through the KYC process at 100monet,
they usually ask to provide some (it depends on various factors)
documents and / or specific procedures
The process of Customer Identification at BTCBIT
typically involves
a few (varies case-by-case)
individual procedures.
It ordinarily requires
up a couple of days
(BTCBIT & 100monet alike
abide by the roughly analogous KYC policies requiring a user to complete almost identical stages during the verification).
-
As per our analysis of the community feedback, 100monet currently process orders to deposit and withdraw funds
in approx. 5-15 mins
The actual BTCBIT users
reported that the process of a deposit or withdrawal took about
1 hour, not longer
(BTCBIT
completes the deposit and withdrawal requests in a more delayed manner).
-
Our visitors shared 6
reviews about 100monet,
83%
of those are positive
As of today, BTCBIT gained
9
clients testimonials,
89%
of these are positive
(BTCBIT
is finer reviewed by the clients).
So, is 100monet a better alternative to
BTCBIT?
Such a conclusion by any means can't be drawn by us instead of you,
but we'll try to assist with the matter.
Since the 100MONET exchange service
got a lower rating at our platform:
67 versus 97 that
BTCBIT
accomplished,
our advice is either to go for BTCBIT,
or, even better to look into few others first;
particularly the ranked "best-of-the-best"
TransCoin!
Like reading? In fact, there are more exchanges worth comparing to BTCBIT,
such as:
BTCBIT vs WMexpress
A comparison of the key features and the principal facts about
WMEXPRESS versus BTCBIT;
just take a glance to decide if
WMexpress will be the optimal choice for you or at least if it's worth checking our full study:
-
WMexpress is a broker
The way btcbit.net website functions
fits the broker format,
both following the same approach to the business.
-
WMexpress had launched the service August 2015
BTCBIT started the project May 2017
(WMexpress is operating for
1 years and 9 months longer).
-
WMexpress operates without any registration or no information is available about the legal entity
BTCBIT
obtained all the required permissions, got licensed, etc.
(BTCBIT 's approach to the business made it a safer and more stable solution).
-
WMexpress allows users' registrations from 255 countries;
and we are glad to say that the people from
United States are welcome
You are permitted to register at the
BTCBIT
being a resident of any of
221 countries;
United States is granted with an access
among all others
(BTCBIT
green-lights some less countries).
-
According to our users feedback, the quality of customer care at the WMexpress
is
5.0 / 5.0
The score that our visitors assigned to customers' service at BTCBIT
happens to be
1.0
(BTCBIT
customers' care got lower rating).
-
When the client needs to pass through the KYC process at WMexpress,
they usually ask to provide some (it depends on various factors)
documents and / or specific procedures
In most of the cases, it takes
no less than 1-2 days,
as per the actual clientele survey results
The process of Customer Identification at BTCBIT
typically involves
a few (varies case-by-case)
individual procedures.
It ordinarily requires
up a couple of days
(BTCBIT & WMexpress alike
abide by the roughly analogous KYC policies requiring a user to complete almost identical stages during the verification).
-
As per our analysis of the community feedback, WMexpress currently process orders to deposit and withdraw funds
in just few minutes
The actual BTCBIT users
reported that the process of a deposit or withdrawal took about
1 hour, not longer
(BTCBIT
completes the deposit and withdrawal requests in a more delayed manner).
-
Our visitors shared 7
reviews about WMexpress,
100%
of those are positive
As of today, BTCBIT gained
9
clients testimonials,
89%
of these are positive
(BTCBIT
got more judgemental, less favorable user reviews).
So, is WMexpress a better alternative to
BTCBIT?
Such a conclusion by any means can't be drawn by us instead of you,
but we'll try to assist with the matter.
Since the WMEXPRESS exchange service
got a lower rating at our platform:
71 versus 97 that
BTCBIT
accomplished,
our advice is either to go for BTCBIT,
or, even better to look into few others first;
particularly the ranked "best-of-the-best"
TransCoin!
Like reading? In fact, there are more exchanges worth comparing to BTCBIT,
such as:
BTCBIT vs chby
A comparison of the key features and the principal facts about
CHBY versus BTCBIT;
just take a glance to decide if
chby will be the optimal choice for you or at least if it's worth checking our full study:
-
chby is a broker
The way btcbit.net website functions
fits the broker format,
both following the same approach to the business.
-
chby had launched the service July 2018
BTCBIT started the project May 2017
(BTCBIT operated
1 years and 1 months longer).
-
chby operates without any registration or no information is available about the legal entity
BTCBIT
obtained all the required permissions, got licensed, etc.
(BTCBIT 's approach to the business made it a safer and more stable solution).
-
chby allows users' registrations from 255 countries;
and we are glad to say that the people from
United States are welcome
You are permitted to register at the
BTCBIT
being a resident of any of
221 countries;
United States is granted with an access
among all others
(BTCBIT
green-lights some less countries).
-
According to our users feedback, the quality of customer care at the chby
is
5.0 / 5.0
The score that our visitors assigned to customers' service at BTCBIT
happens to be
1.0
(BTCBIT
customers' care got lower rating).
-
When the client needs to pass through the KYC process at chby,
they usually ask to provide some (it depends on various factors)
documents and / or specific procedures
In most of the cases, it takes
no less than 1-2 days,
as per the actual clientele survey results
The process of Customer Identification at BTCBIT
typically involves
a few (varies case-by-case)
individual procedures.
It ordinarily requires
up a couple of days
(BTCBIT & chby alike
abide by the roughly analogous KYC policies requiring a user to complete almost identical stages during the verification).
-
As per our analysis of the community feedback, chby currently process orders to deposit and withdraw funds
in just few minutes
The actual BTCBIT users
reported that the process of a deposit or withdrawal took about
1 hour, not longer
(BTCBIT
completes the deposit and withdrawal requests in a more delayed manner).
-
Our visitors shared 6
reviews about chby,
100%
of those are positive
As of today, BTCBIT gained
9
clients testimonials,
89%
of these are positive
(BTCBIT
got more judgemental, less favorable user reviews).
So, is chby a better alternative to
BTCBIT?
Such a conclusion by any means can't be drawn by us instead of you,
but we'll try to assist with the matter.
Since the CHBY exchange service
got a lower rating at our platform:
70 versus 97 that
BTCBIT
accomplished,
our advice is either to go for BTCBIT,
or, even better to look into few others first;
particularly the ranked "best-of-the-best"
TransCoin!
Like reading? In fact, there are more exchanges worth comparing to BTCBIT,
such as:
BTCBIT vs TransCoin
A comparison of the key features and the principal facts about
TRANSCOIN versus BTCBIT;
just take a glance to decide if
TransCoin will be the optimal choice for you or at least if it's worth checking our full study:
-
TransCoin is a broker
The way btcbit.net website functions
fits the broker format,
both following the same approach to the business.
-
TransCoin had launched the service May 2018
BTCBIT started the project May 2017
(BTCBIT operated
11 months longer).
-
TransCoin has all the business licenses and permissions, required by law
BTCBIT
obtained all the required permissions, got licensed, etc.
(both websites follow the same corporate model,
almost an identical approach to the operational and legal matters, etc.).
-
TransCoin allows users' registrations from 255 countries;
and we are glad to say that the people from
United States are welcome
You are permitted to register at the
BTCBIT
being a resident of any of
221 countries;
United States is granted with an access
among all others
(BTCBIT
green-lights some less countries).
-
When the client needs to pass through the KYC process at TransCoin,
they usually ask to provide some (it depends on various factors)
documents and / or specific procedures
The process of Customer Identification at BTCBIT
typically involves
a few (varies case-by-case)
individual procedures.
It ordinarily requires
up a couple of days
(BTCBIT & TransCoin alike
abide by the roughly analogous KYC policies requiring a user to complete almost identical stages during the verification).
-
Our visitors shared 5
reviews about TransCoin,
100%
of those are positive
As of today, BTCBIT gained
9
clients testimonials,
89%
of these are positive
(BTCBIT
got more judgemental, less favorable user reviews).
So, is TransCoin a better alternative to
BTCBIT?
Such a conclusion by any means can't be drawn by us instead of you,
but we'll try to assist with the matter.
In view of the lesser rating score BTCBIT achieved:
97 vs TransCoin rated
100,
we honestly believe that
TRANSCOIN
should do the job better
than the reviewed broker;
certainly worth testing!
Like reading? In fact, there are more exchanges worth comparing to BTCBIT,
such as:
Conclusion: is BTCBIT legit or scam?
Seems it's time to finalize the report, to make a judgment call.
Is BTCBIT a scam or is it a legitimate exchange?
How secure the btcbit.net website is?
Can you trust BTCBIT with your money?
And (in our case) the most frequently asked question:
Why the broker is not yet ranked at ExchangeRates.Pro?
Let's start by answering the last question and, you'll see, the replies to the rest will follow.
Can't wait? Help yourself
jumping to the final verdict!
Why we hadn't yet
ranked and fully listed BTCBIT
and what does it mean?
The routine for adding a new exchange,
especially if it's a Broker,
to ExchangeRates.Pro listing is rather a long process
and it depends on few factors we don't control directly.
Our approach to the process is «better be safe than sorry»;
we already have 37
well-tested platforms providing similar to BTCBIT functionality.
22
different exchange websites of broker type are among those
and additionally, there are
4
peer-to-peer marketplaces.
10,983
exchange offers are available right away;
these cover almost all the payment systems and local banks available in
United States and North America
for buying and selling BTC, cryptos, and tokens with
US Dollar,
EURos,
whatever.
Hence, we never hurry to add more websites until we are 100% sure we did everything we could to verify the data and test every service well ourselves.
It takes time.
Moreover, there are two circumstances that are out of our direct control:
-
All the exchange services,
most notably
the broker type ones
are staying in the "pending approval" state until we collect at least a few reviews from the genuine customers,
the ones we can actually verify. In addition,
we monitor the clients' testimonials at the trusted review platforms, social networks, etc.,
and postpone the approval until we find enough evidence that
the broker has no unresolved complaints
and there are enough convincing users recommendations.
-
We receive the new applications daily
and like over 90% are from the other Brokers.
It consumes a lot of time to check each and every one;
there's a large queue and we have to be selective when choosing which applications to process first.
Exceptions from these two rules may happen only in very rare extraordinary cases.
As you can see, we move forward with listing new exchanges slowly
and the queue for Brokers is the largest one,
but as a consequence,
only the best brokers are getting approved.
Although we can't endorse BTCBIT and hadn't rated it (in full) yet,
we believe that
it should get approval if we won't receive any complaints.
So is BTCBIT a legit exchange or a fraud?
BTCBIT's profile really impresses!
The scores look just like the ones for proven industry leaders,
the service is provided by a licensed and regulated financial company,
there are some nice reviews from the real clients,
we are fascinated!
Should we add that it's definitely not a scam?
We consider this broker
to be listed among approved websites soon
and can recommend you try it yourself;
you shouldn't be disappointed!
And please, don't forget to post a testimonial after your exchange will be completed.
Suggested rating for BTCBIT:
97 / 100
Alternative solution:
how to find
the best rate to exchange BTC & crypto
in United States and
North America
There is another way of finding the most worthy alternative to BTCBIT
that will work best for you.
What if instead of opposing the features of various exchanges we'll
compare the terms of the specific offerings that all the marketplaces,
brokers, dealers, and even individual exchangers provide?
That's exactly what our platform does!
We assist you in choosing the most appropriate deal
considering:
- The fees and rates provided at the moment by
21
exchange websites of a "Broker" type
and 10,983
other offers.
- BTC/USD
exchange rate at those ;
the availability of service for the residents of United States.
- Which local banks & payment systems out of
154 serving US
are the fastest, most convenient and cost-efficient personally for you.
- Amount you need to swap: say,
the conditions for exchanging
USD
1
will be significantly different from the terms of
$26,153.0
conversion.
- And of course, you see the rating, users reviews
(up-to-date 510
real clients testimonials), etc.
for all the offers available!
Our platform could find 54
offers to buy, sell, exchange BTC available to users from
United States,
and 46 of these are for the
US Dollar currency.
There are totally 27
exchange services supporting US.
Some of those are providing the access to
USD|BTC market,
including such types as
e-wallet,
P2P Marketplace,
Trading Platform,
etc.
5
exchanges has active offers for these currencies right now;
you can buy/sell using 20
local and international payment systems & banks!
The local dealers and exchanges are mentioning the support of
18 local banking institutions and the payment systems.
According to the latest data we have,
the lowest fee to
purchase BTC
with USD locally is available for
Etana,
that's a local payment system.
The most popular domestic options for purchasing BTC @ US:
Our software couldn't get an access to the data what's available at
btcbit.net
for the clients from United States,
however
we are sure that you'll find a worthy alternative
on one of
36 exchange websites we compare the rates at!
Check out what the local dealers and platforms are offering:
currently there are 18
domestic banks supported.
Besides, you may find something interesting browsing
10,983
offers available with
20
ways to pay internationally,
either to neighboring countries in North America
or to any other part of the world.