Bit2Me Review 2023
Cryptocurrency trading has been on the rise, and thus, investors are always looking for a reliable cryptocurrency trading platform. Bit2Me allows traders to seamlessly buy, sell or exchange leading cryptocurrencies on its platform. It has made the trading of cryptocurrency easier by implementing necessary requirements. To know more about this cryptocurrency exchange, read this Bit2Me review thoroughly!
|Supported Fiat Currencies||Euro|
|Supported Countries||Worldwide except USA|
|Minimum Deposit||Depends on Currency|
|Deposit Fees||Depends on Currency|
|Transaction Fees||Depends on Currency & Payment Method|
|Withdrawal Fees||Depends on Currency & Payment Method|
|Customer Support||Mail, Whatsapp, Ticket system, Phone calls & FAQs Support|
What Is Bit2Me?
Bit2Me is a leading crypto trading platform based in Spain launched in 2014 by two crypto enthusiasts Andrea Manuel and Leif Ferreira. The platform was mainly designed to perform as an all-in-one crypto platform where users can buy and sell bitcoins, create their best crypto wallet or bitcoin wallet, and access learning and education materials making it one of the largest investment platform available. Bit2Me allows multiple payment methods that make it even easier and more convenient for traders, especially beginners who have not had much crypto trading experience before.
Bit2Me bears the trademark of BitcoinForMe S.L. and has its headquarters in Alicante, Spain. It is one of the first companies in Spain that has established itself in the digital currency market and another leading cryptocurrency exchange called Bitnovo. It allows users to buy more than 20 cryptocurrencies with a few swipes on their smartphones, using their linked bank accounts. Over 150 banks operating in the European Union are accepted on Bit2Me. Users can simply sell their cryptocurrency coins for a predefined price and withdraw their euros in cash from the nearest ATMs.
How Does Bit2Me Work?
Bit2Me allows users to buy cryptocurrencies using a bank transfer. As soon as a user sends money via a bank transfer, along with an email attached to the platform’s website confirming the funds sent, the broker reserves the bitcoins (BTC) in the name of that user. The cryptocurrency price of that pair is selected as soon as the Bit2Me team confirms the bank transfer payment. At the same time, Bitcoins will be released when the payment is received on the user’s bank account.
Alternatively, users can also buy cryptocurrencies instantaneously with payment gateways like Tikebit. For this, users just need to visit the exchange’s official website and check the nearest Tikebit selling point to transfer their funds. These selling points like Tikebit give out a unique code-based voucher that the users can redeem for purchasing Bitcoins on this exchange website.
Let us explore all the expectations Bit2Me offers, and the following core features to its registered users:-
Bit2Me’s website interface is user-friendly and thus allows both newbies and advanced traders to execute trades peacefully.
Bit2Me provides an integrated multi-currency wallet that allows users to send, receive, store, exchange, buy and sell multiple cryptocurrencies in a faster and simpler way. It offers 66 Lite wallets that allow users to buy, sell, store, exchange, transfer, and send leading coins of crypto like Ethereum, Bitcoin Cash, Dash, Litecoin, Ripple, and two full wallets support Bitcoin, Bitcoin Testnet, multi-crypto, and Euro(Traditional Money). Bit2Me also supports instant payments and micropayments in cryptocurrencies.
Bit2Me stores almost 98% of its clients’ funds in offline cold storage to add an extra layer of security to safeguard them.
Bit2Me allows its customers to set up their business accounts to accept payments in cash and currencies in digital. Keeping several business accounts under one head helps users manage their payroll, purchases, accounts receivable, and accounts payable. Bit2Me Swap allows instant exchange with one click from one cryptocurrency to another at the best conversion price.
Bit2Me urges its clients to secure their accounts with two-factor authentication protection so that they can easily detect any hacking attacks and stay alert.
Is Bit2Me Regulated?
Bit2Me is the trademark of the company Bitcoinforme S.L, which is legally registered with the CIF B54835301. Moreover, to keep the client’s money safe, it works with an Electronic Money Institution regulated by the Bank of Spain.
Bit2Me Reviews: Pros and Cons
|Easy-to-use platform.||Not available in Canada and the United States.|
|Processes a very high trading volume in Europe.||Bit2Me fees are slightly on the higher side.|
|Supports buying and selling of cryptocurrencies with credit cards.|
|Provides an iOS app and Android compatible mobile app.|
|Has more than 10,000 ATMs all across Europe for easy conversion of cryptos to euros.|
|Supports multiple languages.|
|Facilitates secure crypto transactions via blockchain events, bitcoin education, DEX facilities, etc.|
How to Buy and Sell Cryptocurrencies on Bit2Me?
To buy or sell cryptocurrencies on the Bit2Me, users need to follow these steps simply:-
Visit Bit2Me’s official website and click on the “Create Account” button, which will direct users to a registration page. Users need to fill out the form with some basic details like email address, phone number, and a strong password. After successful registration, the Bit2Me team will send an activation mail into the email id provided by the users, which they need to open and click on to activate their account on the platform.
Next, the registered users need to fund their accounts with the requisite amount to begin trading on the platform.
After funding, users can log into their accounts, and they will be directed to the main page where they would need to select their operations, what they want to do- buy or sell cryptocurrencies. If users want to buy cryptocurrencies, they click on the “Buy” option and select their chosen cryptocurrency from the drop-down box.
Select Payment Options
After selecting their preferred cryptocurrencies, users are now required to choose one of the payment methods supported on the platform. They are also required to enter the amount of money they want to spend to buy crypto coins on the platform.
Select the Wallet Option
In this step, users must enter the wallet address to store their cryptocurrencies after buying them. They can send the purchased digital currencies to the Bit2Me wallet or enter their external wallet address.
Based on the selected payment options by the user, the purchased coins will be reflected in their chosen wallet as soon as the platform receives the money.
At the platform, traders need to pay both the trading as well as the transaction fees. The trading fees for Bitcoin are around 2.76%, which is higher than the global industry average. On top of this, a mining fee at the rate of € 1,70 is charged for every transaction executed on the platform.
The platform also imposes exchange rates and limits on the total amount of crypto purchases which is 20,000 euros per day. If users intend to purchase a higher limit, they can contact the Bit2me support team for help. Bank Transfers are free but might take a little longer to process because they are not instant.
If users intend to buy coins of crypto with a credit card, a charge of 3% of the total amount of the trade is to be paid as a trading fee to the platform. With a credit card, the maximum permissible limit of purchase is up to 5,000 euros worth of other cryptocurrencies per day. Even the Bit2Me card is available for buying. This Bit2Me Card is a fantastic way for you to use your account to pay for anything.
If users intend to use instant payment methods like Tikebit, they can instantly reserve the crypto coins like Bitcoin Cash, Ethereum etc, and the coins are delivered as soon as they redeem the Tikebit code. In this case, the daily purchasing limit is up to 1,000 euros worth of digital currencies, and 2.5% of the total trade executed is paid as trading fees. Click here to find out more details about the fee structure. Users can have long-term investing in the OTC market. Also, the mining fee for Ethereum is zero.
Bit2Me Accepted Payment Methods
Traders can buy, sell and accept cryptocurrencies supported on the platform using a VISA or Mastercard issued credit card & debit card. Credit card transfers are processed almost instantly, and the traders do not have to wait for long; the delivery of coins in crypto is done within an hour. Other payment options include a bank account transfer or a SEPA Credit transfer.
Bit2Me Supported Currencies and Countries
There are over 20 cryptocurrencies available for trading on the Bit2Me platform, including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Dash. Residents of almost all countries globally can operate it except for the US due to some strict regulatory policies in the nation.
Bit2Me Mobile App
The platform offers a mobile application that helps traders to trade on the go. The app is compatible with both Android and iOS devices which makes it even more convenient for traders.
Bit2Me offers the following security features to its users:-
Bit2Me stores 98% of its customers’ assets in cold (offline) storage and the remaining in secure online servers to seamlessly serve the liquidity needs of their customers.
Bit2Me plans to implement a commercial, criminal insurance plan of an aggregate amount greater than cryptocurrency values held in online storage. The insurance policy will be made available via Bit2Me and various third-party insurance underwriters who will also be the co-insurer under the insurance policy. According to a Bit2Me review, the policy will ensure customers against theft of cryptocurrencies resulting from any security breach or hack, fraudulent transfer, or employee theft.
Electronic Money Institution
Bit2Me stores clients’ money in an Electronic Money Institution regulated by the Bank of Spain, thereby complying with all the regulatory compliances under the Spanish and European regulations, thus guaranteeing the safety of the client’s money.
Customers’ money is held as cash in dedicated custodial pools separate from Bit2Me funds, and it cannot use these funds for any of its operating or corporate expenses. Thus, funds are always available in these custodial pools, and the customers can withdraw them whenever they want to.
Just like many reputed cryptocurrency exchanges all Bit2Me clients are given the best option to secure their accounts with authentication (2FA) protection. With this secure protection at disposal, they will prevent unauthorized access even if hackers obtain the credentials.
While making this review, we get to know that all sensitive data on the Bit2Me platform is encrypted with cryptography. Moreover, all communications between the exchange and the client are always secured via point-to-point SSL encryption and cryptographic protocols.
Alike many secure cryptocurrency exchanges, Bit2Me always sends instant notices to users via email every time an account is accessed or funds are withdrawn. This helps users stay alert if any misuses of their accounts happen and can immediately block them.
Machine Learning Algorithms
Lastly, Bit2Me employs machine learning algorithms to effectively analyze account holders’ behavior which can help in detecting any suspicious transactions. The platform’s development team freezes those accounts to protect the users’ money if such a behavior is seen. For this, it employs specialized software for real-time monitoring of client accounts.
Bit2Me Customer Support
The support team at Bit2Me is solid and supportive. There are also several other support channels apart from email and WhatsApp, including ticket systems, phone calls (in Europe), live chat, and the most useful Bit2Me academy. The bit2me academy offers more than just a customer-support platform; it educates users about currency investments and trading prospects and how it can increase their net worth. It is worth mentioning that the customer support services at this exchange are available in multiple languages, including English, Spanish, French, Romanian, Polish, Portuguese, Italian, and Hungarian.
Also, while making this review article, we observed that there is a dedicated FAQ section which in itself is self-satisfactory. It has almost all the common questions that a crypto trader might ask and has all the relevant answers in an elementary language.
Bit2Me Review: Conclusion
Thus, Bit2Me has made trading (selling and buying) cryptocurrencies easier, faster, and safer. As per our review and research, we can say that the site is well-organized, provides easy navigation, and is compatible with both mobile and desktop devices.
Simply reviewing the exchange’s site in itself is very convincing for first-time crypto traders. Every section on the website is well-defined. The mobile app is easy to use and mirrors the desktop version that offers many options for customers to help them trade on the go. Thus, according to various Bit2Me reviews available, it appears to be a reliable & most trusted cryptocurrency exchange platform for trading. Even the support department for the customer is very supportive to minimize any negative reviews about the platform.
Is Bit2Me Trustworthy?
According to the various reviews, the platform appears trustworthy, with many security mechanisms employed by the exchange to safeguard clients’ funds. Moreover, the platform operates with the crediable Bank that adds to the credibility of the platform. User can invest money to get gains from the market in a safe and secure environment.
Is Bit2Me Legit?
Yes, Bit2Me is a safe cryptocurrency service provider based in Spain. One of the only exchange uses secure servers and offline wallets to protect its customer’s assets and funds. The firm also provides insurance covers to protect the registered account holders from cryptocurrency thefts and hacking attacks.