Buying bitcoin is an easy process if one has access to a bitcoin exchange that accepts fiat payments of the user’s currency denomination. But not all exchanges cater to all regions and some of them do not have online payment options. Few exchanges accept only wire transfers as cash deposit which can be used to buy bitcoin. If the customer is in a different country, then it may take days or weeks before he can gain access to the bitcoin he has planned to buy due to the unusually long time taken by conventional money transfer services when it comes to overseas payments.
Bitit, a French company based out of Paris is making the process of buying bitcoin easy for everyone. Even international customers can buy bitcoin on this platform with great ease. unlike other bitcoin exchanges, Bitit sells bitcoin like any other product one can buy on e-commerce sites. Buyers can pay with their credit card over the platform to buy online bitcoin vouchers and gift cards. The voucher code can then be redeemed along with the bitcoin wallet address to receive an equivalent amount of bitcoin into the wallet.
We currently live in the times where bitcoin transactions sometimes take days to get confirmed due to increasing backlogs caused by insufficient block size. Bitit offers an irresistible option to procure bitcoin instantly. The startup also has a network of physical stores, where one can just walk in and buy bitcoin with cash. This practice has been already adopted in Taiwan where bitcoin exchanges have tied up with supermarket chains to sell bitcoin vouchers over the counter.
A new user can buy up to $25 worth if bitcoin directly from the platform without submitting any kind of documentation. The upper limit for a single bitcoin transaction on Bitit is $500 for which the buyer has to submit his KYC document.
The old school way of selling bitcoin in brick and mortar shops is still efficient and there are many takers for this kind of platform.