BTCBIT review: is a safe exchange or a scam? (02.2021)

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 10 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 Kraken (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 10,071 ways to buy and sell BTC worldwide, including 48 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:

Time in the business: 6 years 10 months

Feedback count: 9

Reviews: 8 positive, 1 negative, 0 neutral

Business model: licensed, fully compliant

Order Speed: medium (up to an hour)

Support Quality: very poor

Verification Speed: slow (few days)

UI Usability: average

Altogether, the preliminary rating for BTCBIT is 97 / 100

exchange @ BTCBIT!

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 10 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 11 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.

Time in the business: 5 years 11 months

Feedback count: 5

Reviews: 5 positive, 0 negative, 0 neutral

Business model: licensed, fully compliant

Overall scoring for TransCoin: 100 / 100

TransCoin: the full review

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)
Show the whole countries list

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 Apr 2024 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!

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

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:

review of 1-online, users' testimonials

• 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 1-online
• BTCBIT vs 100monet
• BTCBIT vs WMexpress
• BTCBIT vs chby
• BTCBIT vs Kraken

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:

review of 100monet, users' testimonials

• 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 1-online
• BTCBIT vs 100monet
• BTCBIT vs WMexpress
• BTCBIT vs chby
• BTCBIT vs Kraken

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:

review of WMexpress, users' testimonials

• 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 1-online
• BTCBIT vs 100monet
• BTCBIT vs WMexpress
• BTCBIT vs chby
• BTCBIT vs Kraken

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:

review of chby, users' testimonials

• 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 1-online
• BTCBIT vs 100monet
• BTCBIT vs WMexpress
• BTCBIT vs chby
• BTCBIT vs Kraken

BTCBIT vs Kraken

A comparison of the key features and the principal facts about KRAKEN versus BTCBIT; just take a glance to decide if Kraken will be the optimal choice for you or at least if it's worth checking our full study:

review of Kraken, users' testimonials

• Kraken is a trading platform The way btcbit.net website functions fits the broker format, it's also an exchange, but has slightly different business model (feel free to read details about the difference between trading platform and broker)
• Kraken had launched the service July 2011 BTCBIT started the project May 2017 (Kraken is operating for 5 years and 9 months longer).
• Kraken 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.).
• Other than providing the services of buying, selling and exchanging cryptocurrency, Kraken provides some other exchange-related / financial services: Mobile wallet, OTC trading, Margin Trading, Futures Trading and the Staking, MasterNodes, etc. (passive income opportunity) BTCBIT arranges less services associated with the crypto exchange operations: it only swaps cryptocurrency, one to another.
• Kraken allows users' registrations from 234 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 Kraken 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 Kraken, they usually ask to provide 2 documents and / or specific procedures: ID or Passport Verification, current Address Confirmation (utility bill, bank or credit card statement, etc.). 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 policies are generally less strict, so the clients supposedly spend reduced time and share fewer information while verifying themselves).
• As per our analysis of the community feedback, Kraken currently process orders to deposit and withdraw funds instantly, without any delay at all or in matter of seconds; the process is fully automated 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 3 reviews about Kraken, 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 Kraken 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 Kraken rated 100, we honestly believe that KRAKEN should do the job better than the reviewed broker; certainly worth testing!

read more about Kraken

or

try Kraken now!

Like reading? In fact, there are more exchanges worth comparing to BTCBIT, such as:

• BTCBIT vs 1-online
• BTCBIT vs 100monet
• BTCBIT vs WMexpress
• BTCBIT vs chby
• BTCBIT vs Kraken

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. 10,071 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:

1. 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.
2. 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.

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 10,071 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 $64,558.0 conversion.
• And of course, you see the rating, users reviews (up-to-date 529 real clients testimonials), etc. for all the offers available!

Our platform could find 48 offers to buy, sell, exchange BTC available to users from United States, and 40 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 17 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:

• Barter from Flutterwave | 50 ads
• GoBank Card | 34 ads
• MyVanilla Reloadable | 22 ads
• JCPenney | 13 ads
• Paypal | 7 ads
• Cash in Person | 5 ads
• Other Gift Cards | 4 ads
• Nike | 4 ads
• Cash App (Square) | 4 ads
• Any Local Bank | 3 ads

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 17 domestic banks supported. Besides, you may find something interesting browsing 10,071 offers available with 20 ways to pay internationally, either to neighboring countries in North America or to any other part of the world.