It is necessary to remember: the first times count! Whatever the subject and the circumstances, the first steps, the initial big leap, the first decision, will remain etched in your memory. And this is valid for Bitcoin. When you bought Bitcoin for the first time, you may have already realized that this was not a trivial purchase, but something foundational.
Each has its story, but if you are not one of the pioneers (mostly minors before 2015), it is very likely that you acquired your Bitcoin on a specialized site, after lengthy research and meticulous comparisons. It was important because, from that first purchase, its ease and efficiency flowed a lot from how you were going to perceive it next – and still today – the entire crypto ecosystem. So it is: the first times are foundational.
For my part, I was lucky: I chose the services of a French company called Bitit at the time. And I still welcome it today! I suggest you today explain why my choice fell on this platform in particular. And why would I do the same choice today if I had to buy my first Bitcoin!
This article is offered to you in partnership with society Bitit. Crypto investments are risky in nature, do your own research and invest only within the limits of your financial capacity. This article does not constitute an incentive to invest.
Bitit, the purchase of Bitcoin Made in France
So of course, one could object that in 2020, on the scale of the global village, the erasure of distances and borders, wanting to do business with a national actor in principle does a bit conservative, even cheesy. And then, isn’t Bitcoin supposed to embody an ideal planetary, without border ?
Yes but here, we will agree that the discovery of Bitcoin, cryptocurrencies, and a whole new exotic and unprecedented financial ecosystem, and potentially confusing for the beginner.
So, in my quest to buy my first bitcoins (well, let’s be modest: from my first fractions of bitcoins, the satoshis), it was with happiness that I finally came across Bitit, a French company, with (virtual) storefront, registered in the 11th arrondissement of Paris.
This is not to denigrate the many companies around the world who offer to buy BTC with the utmost seriousness, and within strict regulatory frameworks. But we still agree that if something goes wrong, he is always reassuring to know that you will not have to act in court Lithuanian or before the authorities of British Virgin Islands…
So Bitit did not choose simplicity and economy by deciding to operate in France. Indeed, despite obvious progress in recent months (optional visa for the AMF, evolving regulatory framework …), our beautiful country and its finicky tax administration, is not reputed to be very flexible for the crypto ecosystem.
In short, a strong commitment and a pledge of confidence brought by Bitit which had then won my total approval.
Purchasing ergonomics and customer experience, your first Bitcoin simply and smoothly
Point of view ease of navigation and ergonomics, the Bitit site is a model of its kind. The information is there complete, very readable and from the registration to your first act of purchase, you are perfectly guided.
Registration and identity verification
Creating an account is very classic, and takes a few minutes. Fill in the requested information carefully (identity, address, telephone, etc.), these elements are essential for the creation of your customer profile and must be consistent with the KYC (Know Your Customer) which will follow.
Once configured, your account only waits for you to pass the step of KYC, which will consist quite conventionally in the sending of information concerning a identity document, proof of address, and a selfie with your bank card if you want to use this payment method to acquire Bitcoin or other electronic currencies.
This step is never the most exhilarating of a registration process, but it is the reasonable consideration so that Bitit can offer its services in perfect regulatory compliance with the regulator.
And if the term “KYC” or the notions of conformity seem obscure to you, go quickly update yourself with this article.
A wide range of payment methods
One of the aspects that, as a beginner, I particularly liked at Bitit, is clearly the diversity of payment vectors to acquire Bitcoin and crypto currencies.
- Through Bank card (from 500 euros per week)
- Through prepaid coupons (from 2500 euros per week)
- Through bank transfer, after creating a Euro Wallet on the site (from 15,000 euros per week)
Note that these limits are cumulative per week. In addition, it is possible to lift these restrictions in upgrading the account level of the user (see details on the site)
If the bank transfer option will obviously take a few days, the time that the classic banking mechanisms do their work (you know, “the old world”), Bitit also offers to immediately buy up to 1,500 euros in cryptocurrencies by bank card, which will be instantly credited to the wallet of your customer area (while you are repatriating them to a personal wallet).
Pretty good if you’re the type of person who likes things to go fast and / or profit quickly Bitcoin price drop!
With Bitit, buy Bitcoin… and 50 other cryptocurrencies!
In my day, Bitit offered not only Bitcoin for purchase, but also a dozen other cryptocurrencies, and I admit that this aspect also particularly caught my attention. So, in addition to my first satoshi, it seems to me that I also acquired the Ethereum and maybe someETH Classic.
I saw in Bitit’s service not only the opportunity to finally buy Bitcoin, but also that of start diversifying my portfolio, without having to go through the most technical of exchange platforms like Binance or Kraken (which was to come, but a little later).
Today, it is no longer a dozen crypto-assets that Bitit offers, but downright 50 cryptocurrencies among the most important in the marketcap!
So you can acquire as many iconic cryptos like Tezos, or Dash, but also stablecoins (cryptocurrencies whose price does not fluctuate, or very little) like Tether or USD Coinor even less conventional currencies like ARK, or Qtum.
A golden opportunity to diversify your investment, in accordance with the fundamental rules of crypto wealth management.
Plan your Bitcoin purchases
You may have heard of the strategy of the Dollar Cost Averaging (DCA). This is a technique that we talk about regularly here. This approach is both very simple but has also demonstrated its impressive efficiency in terms of yield.
Very basically, it’s about smooth investment, by not putting all of his assets in “one shot” mode – even if sometimes it is not the desire that is lacking in terms of the variations of turbulent cryptos – but quite the contrary, by investing regularly, still there same sum, whatever the market conditions.
You determine a sum, it doesn’t matter which one, and you decide that, against all odds, consecrated every month with the purchase of BTC (or any other cryptoactive on which you have set your sights).
This technique is surprisingly effective to build a crypto heritage and many studies have shown that it surpassed the majority of so-called “active” trading behavior. Ah, and significant advantage: you will keep the quality of your sleep, and will be able to devote your creative energy to something other than feverish surveillance of the H24 market!
And of course, if I tell you about that, it’s that Bitit proposes the installation of a device of the type DCA, with a simple credit card! On the site, you program the amount, the periodicity, and your cryptocurrencies will be automatically acquired and credited to your wallet, without much effort on your part.
And the fees?
The fees retained by Bitit vary, depending on the means of payment chosen. For a purchase of Bitcoin (or other cryptos) by Blue card, transaction fees are 3.9%. The establishment and use of the service Euro Wallet will allow you to benefit from such a low commission of 0.25%. It will be recalled that it is also possible to use prepaid coupons CashLib or NEOSurf in return for a commission of 8.75%. If these commissions are higher, it will be noted however that they allow in fine to buy Bitcoin and other cryptocurrencies with cash, by purchasing coupons in a tobacco shop, for example.
Conclusion of a former beginner
I haven’t been a beginner for quite a while now. However, if I were to be new in 2020, I would be happy to go through Bitit services again for my first purchase of Bitcoin!
If you are looking for a reliable, solid, French company, which has made ergonomics and the quality of its services the basis of its excellent reputation, and which – besides Bitcoin – will give you access in a few clicks to dozens of cryptocurrencies, go ahead with your eyes closed: Bitit is ready to welcome you!
Nice to meet you, it’s Hellmouth! Editor-in-chief of Bitcoin, the crypto media you are honoring to survey right now (well done, you have taste).
Crypto-enthusiast of the second hour, nothing is more important to me than supporting the global adoption and democratization of the treasures that the blockchain offers us.
I write articles between two cocktails in Tahiti, my adopted island, and do not hesitate, if the opportunity arises, to feast on a plump scam or a little too enterprising Ponzi pyramid.
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