LiteBit review of this cryptocurrency exchange
LiteBit is a cryptocurrency broker offering more than 50 different cryptocurrencies that you can buy, sell and hold. The Dutch company is active in Europe, mainly focusing on the Dutch market. LiteBit has been around since 2013 and now offers a user-friendly and transparent online platform. LiteBit is well-reviewed and was even voted best broker in 2019. Below we’d like to give you a brief description of LiteBit. Do you have more information about this broker? Then be sure to check out our LiteBit review!
LiteBit attaches great importance to ease of use, which makes the online platform well-suited for beginners. The venue is set, and all services and options LiteBit offers are relatively simple. In addition to buying cryptocurrency as a LiteBit customer, you can store it in a so-called hosted wallet. As a result, you do not have to create your wallet. You do not have your cryptocurrencies under your management.
Offer and payment methods
LiteBit offers more than 50 cryptocurrencies. At the time of writing, the offer consists of 53 digital currencies. This means that you can not only go to the platform for the popular cryptocurrencies such as bitcoin (BTC), Ethereum (ETH), litecoin (LTC), and XRP (XRP) but also the lesser-known cryptos such as basic attention tokens (BAT) and power ledger (POWR). As far as the offer is concerned, the more active trader can also be satisfied. LiteBit also offers an extensive range of payment methods. For example, you can pay with iDEAL and credit card, the Belgian Bancontact, GiroPay / Sofort, and a SEPA transfer. In addition, it is possible to buy cryptocurrency with LiteBit credits. You can purchase this virtual budget with euros or receive it when you sell your cryptocurrency on LiteBit again. When you buy cryptocurrency with LiteBit credits, your payment is processed immediately.
In addition to the buy and sell pages, you will also find a portfolio page on LiteBit. On this page, you can quickly see how your investments are doing. The fictitious value of your cryptocurrencies is kept there. Because these are notional values you must enter yourself, you can also include numbers you have parked in an external wallet, for example.
Verifications and limits
The ease of use that LiteBit offers is reflected in both the verifications and limits. Creating and verifying an account is arranged in no time; you are busy with it for a few minutes. Before you can make your first purchase, you must go through the phone number verification. Don’t worry; this is also easy. Once you have verified your phone number, you can spend up to €1,000 daily, a maximum of €3,000 per week and no more than €9,000 monthly. If you want to be able to spend more, you will have to go through identity or address verification, after which your limits can be increased. LiteBit uses limits to comply with laws and regulations and protect its platform’s users.
It is safe to do business with LiteBit, and you can also safely store your cryptocurrency there. It is true that when you hold cryptocurrency with LiteBit, you rely on the security measures that LiteBit takes, Just like you assume that your bank has your euros safely in storage. If you are investing large amounts, you can, for example, send your cryptocurrency from LiteBit to a hardware wallet.
LiteBit’s support department is available seven days a week from 09:00 to 17:00 to help you and answer questions. LiteBit can be reached via Facebook, email, live chat and WhatsApp. In addition, you can also contact them by phone. LiteBit is a Dutch party, and you will also be spoken to in Dutch by the support department.
LiteBit also has an app for both Android and iOS. You can buy and sell your cryptocurrency through the app at the broker. You can also keep an eye on the prices and view your portfolio. Have you placed orders with LiteBit before? You can also request this with the app.