Frequently asked questions

BTCBIT.NET has been operating since 2017.

1. Create an account and complete the required steps to verify your identity;

2. Use the exchange rate calculator on the BTCBIT.NET homepage;

3. Enter the amount of fiat currency you want to purchase cryptocurrency for and choose a payment method;

4. Choose your preferred cryptocurrency;

5. Click on the 'Exchange' button;

6. Enter your wallet address and verify your wallet;

7. Check that your details are correct, read our terms of use agreement and tick the box at the bottom if you agree to them;

8. Enter your card details and click on the 'Pay' button;

9. A full list of your transactions, including any pending transactions, can be viewed under 'Transaction History'.

1. Sign up;
2. Upload all requested documents for customer profile verification;
3. Click on the "Sell" section, on the main page;
4. Select one of the proposed offers or use a calculator;
5. Specify amount of cryptocurrency, that you want to exchange;
6. Click "Exchange";
7. In the column that appeared below, specify bank account where you want to receive funds;
8. Click “START EXCHANGE!”;
9. Check previously entered information. Read and agree with the rules of the exchange service BTCBIT.NET;
10. Send Bitcoins from your wallet to the BTCBIT wallet or scan the QR code;
11. SEPA / SWIFT transfer will be made, after that certain amount of confirmations will be received to sent transaction;
12. The SEPA transfer usually takes from 1 to 3 working days to receive funds to the bank account / The SWIFT transfer usually takes from 3 to 5 working days to receive funds to the bank account;
13. A full list of your transactions, including any pending transactions, can be viewed under 'Transaction History'.

1. Sign up;
2. Upload all requested documents for customer profile verification;
3. Click on the "Sell" section, on the main page;
4. Select “VISA/MasterCard” and specify amount of cryptocurrency that you want to sell (use a calculator);
5. Click "Exchange";
6. Read and agree with the rules of the exchange service BTCBIT.NET and authorize your card;
7. Fill all of the necessary information about a bank card and press “Pay”;
8. Send Bitcoins from your wallet to the BTCBIT wallet or scan the QR code;
9. Funds transfer will be made, after that certain amount of confirmations will be received to sent transaction;
10. Funds receiving on bank card usually takes from 1 to 5 working days;
11. A full list of your transactions, including any pending transactions, can be viewed under 'Transaction History'.

- Minimal sum of sale 50 EUR/USD
- Maximum sum of sale 5000 EUR/USD

- The withdrawal of funds to the cards of third parties is prohibited

- Payments can be made only if the card supports 3D Secure technology

- Maximum amount per one transfer — 5 000 EUR / 5 000 USD / 375 000 RUR / 5500 GBP

- Maximum amount of transfer per month for Visa / MasterCard — 20 000 EUR / 20 000 USD / 1 500 000 RUB / 18 000 GBP

- The term of crediting funds to the card is 1-5 business days

- Create an account with BTCBIT.NET

- Upload your documents to verify your identity

- Choose a valid payment method

Please provide us with a photo or scan of your valid passport (this should include the photo page as well as the opposing page) / your valid ID card (make sure you include the front and the back) or valid driving license (make sure you include the front and the back).

We accept any of the following:

- Utility bill

- Mobile phone/internet bill

- Copy of bank statement

- Official document confirming your address from official authorities

* Documents should be no more than 3 months’ old

Payments can be made by:

- Credit or debit card

- Bank transfer (SEPA or Wire)

- Neteller

- Skrill

- Paysafecard

- Paysafecash

- Rapid Transfer

- Przelewy24

- Giropay

- Sofort

- LatAm Cash payments

- LatAm Online banking

- PIX

- MACH

- Boleto

- AdvCash

- Payeer

We are constantly striving to improve our service and will be therefore adding more payment methods in the near future.

Our exchange is open 24/7. Transactions are processed in real time.

A reserve is an amount of a specific currency held by the cryptocurrency exchange with the purpose of allowing transactions.

You can use your Maestro/Visa Electron card to buy cryptocurrencies.

The Single Euro Payments Area (SEPA) is a format for cross-border payments within the European Union. SEPA facilitates bank transfers made in euros, meaning that payments between countries in the EU/EEA are equivalent to domestic transfers.

We collect information about you in accordance with the industry's AML ('Anti-Money Laundering') and KYC ('Know Your Customer') requirements.

Refunds usually take 1 to 5 business days to process. You can find out more about our refund policy here: Refund Policy

No, to make a payment, the cardholder name must match the name as it appears on your BTCBIT.NET account.

We don't currently accept customers from the following countries and regions:

Albania, Algeria, Barbados, Bahamas, Benin, Bolivia, Botswana, Burkina Faso, Cambodia, Cameroon, Cayman Islands, Central African Republic, Chad, China, Congo, Crimea, Cuba, Democratic Republic of the Congo, Democratic People’s Republic of Korea, Ecuador, Ethiopia, Ghana, Iran, Iraq, Islamic Republic of Afghanistan, Japan, Jamaica, Kenya, Kuwait, Lebanon, Libya, Mali, Mozambique, Myanmar, Nepal, Nicaragua, Pakistan, Panama, Rwanda, Senegal, Somalia, South Sudan, State of Palestine, Sudan, Syria, Tanzania, Togo, Uganda, Venezuela, Yemen, Zambia, Zimbabwe, Pridnestrovian Moldavian Republic, Donetsk Oblast (Ukraine), Luhansk Oblast (Ukraine), United States of America from the following states: New York (NY), Georgia (GA), Connecticut (CT), New Mexico (NM), Washington (WA), Hawaii (HI), Vermont (VT), Texas (TX), Nevada (NV).

Every transaction incurs the following fees:

Processing fee: 3.9%

Exchange fee: 0.5%

Network fee: Variable

Transactions are limited to the following amounts:

Payment card:

- € 30 000 per 24-hour period

- € 70 000 per week

- € 150 000 per month

Bank transfer:

- € 100 000 per 24-hour period

- € 500 000 per week

- € 1 500 000 per month

Advanced Cash:

- € 30 000 per 24-hour period

- € 90 000 per week

- € 300 000 per month

Payeer:

- € 30 000 per 24-hour period

- € 90 000 per week

- € 300 000 per month

The verification process typically takes 15 minutes but can take anything up to 12 hours in certain cases.

Documents are verified automatically. If the documents you supplied are not of decent quality and cannot therefore be verified by the automated system, you will be asked to supply different documents.

You can get in touch via the following contact methods:

- Online chat

- Email: [email protected]

- Telephone: +371 66090222

- Telephone: +48 588813222

- Telephone: +372 8803222

- Contact form on our website

The MRZ (Machine Readable Zone) refers to the code that can be found at the bottom of the identity page in machine-readable passports and ID documents.

Check the status of your transaction by clicking on your wallet address in the corresponding invoice. The delay could be due to the blockchain not yet having confirmed your transaction.

In order to minimize the possibility of fraud, all transactions must be verified by the blockchain. This is an automated process.

You can trade Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), XRP, Dash (DASH), Ethereum Classic (ETC), Zcash (ZEC). We will be adding more cryptocurrencies in the future.

To reset your password, click on the 'forgotten password' link. If you are still having trouble signing in, please contact us.

As a verified client you can join our referral scheme by clicking on the 'Referral Program' section in your account. Here you will find your unique referral link. Whenever a friend clicks on your referral link and makes a transaction on our platform, you will be credited with a bonus.

Up to 25 transactions per week - 12% referral bonus.

More than 25 transactions per week - 25% referral bonus.

Please refer to the 'News' section of our website for special offers and promotions.

Exchange service BTCBIT.NET is registered in Poland with operational offices in Latvia and Estonia. You can find out more about us in the 'About us' section of our website.

To buy cryptocurrency you must open an account and complete the identity verification process.

Use a strong password containing a mix of letters, numbers and symbols. Turn on 2-step verification to further protect your account.

If the transaction hasn't been processed yet, you can request a refund.

You can use any virtual card that displays the Visa or MasterCard logo and allows you to make international transactions.

A blockchain transaction fee is applied to every transaction to cover mining costs.

BTCBIT.NET adheres to international anti-money laundering regulations and is required to verify customers as part of the KYC process.

Bitcoin is not controlled by a single entity. Instead, the nodes on the network verify that all of the rules, such as the rule that only 21 million bitcoins will ever be released, are followed. When everyone verifies the rules are being followed, there is virtually no way for anyone to steal funds, cause inflation or otherwise create problems for the network. Having said that, the decentralized nature of the network also means rule-changing upgrades can be difficult to implement.

Bitcoin is not anonymous - it is pseudonymous. Every transaction can be viewed on the public blockchain, but a real-world identity is not necessarily attached to that. Use of Bitcoin can be more or less private depending on how it is used.

Since bitcoin was created, more than 1,000 alternative cryptocurrencies have been launched. None of these alternatives to bitcoin have achieved the same level of success as bitcoin up to this point, but many have garnered significant investor and technologist attention and are poised to power central aspects of the future.

The safest way to hold cryptocurrency is on a device that is not connected to the internet. Hardware wallet is a popular option that creates a physical barrier between a cryptocurrency wallet and an internet-connected device.

Much like gold, bitcoins are created through a mining process — albeit a digital one. Computer hardware is used to solve an extremely complex math problem about every 10 minutes. The computer (or miner) that finds the solution to the math problem is rewarded with new bitcoins. The amount of new bitcoins created through this process is reduced by half approximately every four years.

Bitcoin has value because it is useful. For the most part, Bitcoin transactions are most useful for those who are not served by the current financial system. Over time, bitcoin has become increasingly viewed as a mainstream store of value, one that is essentially uncensorable, and its price relative to the U.S. dollar has risen.

It is still very early days when it comes to cryptocurrency’s legal status around the world. Some countries have banned the use of cryptocurrency outright, while others are writing legislation to attract digital businesses to their friendly jurisdictions. In the U.S. bitcoin has been treated as a currency and commodity, meaning most Bitcoin companies fall under existing laws and regulations. In the U.S. it is legal for individuals to buy, transact and sell cryptocurrency for personal use as long as capital gains taxes are paid to the IRS.

There’s plenty you can do with your bitcoins. Spend them online or in actual stores across a variety of industries – including travel, hospitality/hotels, etc.

Bitcoin has a strong track record for security and privacy, thanks to its protocol and cryptography. With private keys, individuals’ wallets are kept secure. The only way this would not be true is in cases when users lose this information. This is why you should always take care of securing your funds, and we’ve assembled some tips and tricks to help you with that along the way.

Bitcoin is as virtual as the credit cards and online banking networks people use everyday. Bitcoin can be used to pay online and in physical stores just like any other form of money. Bitcoins can also be exchanged in physical form such as the Denarium coins, but paying with a mobile phone usually remains more convenient. Bitcoin balances are stored in a large distributed network, and they cannot be fraudulently altered by anybody. In other words, Bitcoin users have exclusive control over their funds and bitcoins cannot vanish just because they are virtual.

It is impossible to cancel transaction after cryptocurrency or funds have been sent. In this regard, carefully check all the details of the exchange before making it.

The processing speed depends on how long it takes for a block to happen in the network. Most orders process in just a few minutes. If the transaction is large, processing it may take a little longer, depending on the size of your transaction and the capacity of the block. We boast the highest exchange speeds on the market thanks to our revolutionary trading algorithms.

Wallets are used to store cryptocurrencies. There are different types of wallets, for example: web wallets, applications for portable devices or devices (offline wallets). You can find more suitable storage service for you from the Internet.

Cryptocurrency wallet address is a unique combination of numbers and letters. For example, Bitcoin address ranging from 26 to 35 characters in length - 35RitJxxXdb9EUJHKdWtdYoMLWCqRD2tnc.