The Dutch company Litebit was registered last May as a Service Provider for Digital Assets (PSAN) with the Autorité des Marchés Financiers (AMF). In concrete terms, the platform is now authorised to offer its services in France and does not intend to be slow to seduce future French followers. Let’s discover the services offered by the platform.
Litebit is now available in France! The company already present in several European countries, including Belgium and the Netherlands, is now offering its services to the inhabitants of France. The Litebit platform allows you to buy, sell and manage your cryptocurrencies. Among those available, we can naturally mention Bitcoin, Ethereum, Litecoin but about forty other currencies are also available.
Unlike an exchange, Litebit allows its customers to buy cryptocurrencies directly in euros, using the most common payment methods (credit card, SEPA transfer, iDeal etc.). In this way, the platform aims to establish itself as a gateway to the world of digital assets. It is also possible to use the platform to store your cryptocurrencies in your Litebit wallet.
As a proof of the platform’s seriousness, Litebit has won the “Best Crypto Broker” award two years in a row, in 2019 and 2020, after a public vote during the “CashCow Awards”. Of course, all connections to the platform are encrypted and guarantee the security of users’ assets. Finally, cybersecurity audits are carried out continuously to verify the robustness of their infrastructure.
Litebit is available in both web and mobile versions; it is up to you to choose the interface that will satisfy you. Registration on the platform is subject to a rigorous KYC (Know Your Customer), in line with the PSAN claims. You only need to prove your identity to be able to use all the platform’s services. However, there are several levels of verification for those who do not wish to commit all their personal data:
Level 1: Telephone verification – maximum daily exchange volume of €350
Level 2: address verification – maximum daily exchange volume €500
Level 3: ID verification – maximum daily exchange volume of €200,000 or €1,500,000 per week or month.
The good news is that if you live in France and register on the Litebit platform, you can get a 20 Litebit credit for completing a registration and finalizing the KYC process.
The trading platform has introduced its own currency: the credit. Each credit represents €1 and allows you to buy crypto-currencies from your wallet.
With its affiliate program Litebit allows you to receive 0,5% of the turnover of your referrals. This amount will be credited to your account in credits. The aim of this operation is to attract new clients and to reward those who promote the development of the platform.
The trading platform charges approximately 2% per transaction. These fees are in addition to any deposit fees (depending on the method chosen).
Another strong point of the platform is the availability of its customer service. Indeed, Litebit’s support is available 24/7 by email and from 9am to 9pm (Dutch time). Moreover, the feedback from users regarding the exchange with Litebit’s support teams is very positive. Indeed, more than 2000 users have given Litebit’s customer service an average score of 8.7, testifying to their professionalism.
The Litebit platform has the arguments to resist the competition and to make a place for itself in this emerging market. The PSAN approvals at the beginning of the year have confirmed the platform’s seriousness and its daily trading volume is constantly increasing. Its wide range of crypto-currencies makes Litebit a suitable trading platform for both beginners and advanced traders. The regulatory issues that platforms like Binance have faced in Europe have allowed Litebit to do well and I wouldn’t be surprised to see them pick up many new users in the coming months.
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
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