Blockchain technology and its application in decentralized accounting has made “virtual money” accessible to all people. Bit2me is a Spanish Exchange that has been operational since 2014, being one of the local options to buy and sell Bitcoin. Today in TodoIcos we will analyze this exchange so that all our readers can know in depth how it works and what it really offers.
- 1 What is Bit2me?
- 2 Is Bit2me safe?
- 3 How do I register for Bit2me?
- 4 How to buy Bitcoin in Bit2me?
- 5 How to sell Bitcoin in Bit2me?
- 6 Pros of Bit2me
- 7 Bit2me cons
- 8 Conclusion
What is Bit2me?
As mentioned above, Bit2me is a company based in Spain that offers services for buying and selling crypto coins within the regional market. At the legal level, Bit2me is a company called BitcoinForMe S.L., is registered under CIF B54835301. Its main offices are located at C/ Germán Bernacer, 65, 03203, Elche, Alicante.
In its beginnings, Bit2me only offered the option of buying and selling Bitcoin, but have expanded operations and now offer the possibility of buying also Ether, Litecoin, Dash and Bitcoin Cash. The processes that they have of purchase are very varied and they adjust to the necessity of each client.
Is Bit2me safe?
In spite of small sporadic criticisms that some users may have about the speed of operations, Bit2me has not had any serious accusations, neither for fraud nor for breach of terms in the transactions. It is an Exchange that has been consolidating throughout the 5 years that it has of existence as a safe option.
At the legal level, Bit2me complies with all legal regulations required to operate in Spain. Although this condition is not so visible to us consumers, it is imperative that companies of this type comply with all the regulations in order to have security about the operations we carry out with them.
We also recommend that when you perform operations on Bit2me, make sure that the page has an SSL certificate for the security of the page. It is also worth checking that your computer or intelligent device is not infected by malware that could affect the course of operations and redirect funds elsewhere.
How do I register for Bit2me?
First we must enter the official page of Bit2me. When we are there, we will look in the upper right corner, specifically in the button that says “Access“. In the first stage of registration we will only be asked for our Name, Surname, email, password and that we confirm that we are not a Bot. We will also have to read and accept the terms and conditions handled by Bit2me.
Once we pass the registration stage, we’re going to have to verify our account. Here we will have to go through a KYC process, which will require 2 multimedia files. The first one will be of our DNI or Passport and the second one must be a photo where we are holding the document of identity and a paper that has written “Bit2me.com” and the date of the day.
This verification process is a mandatory condition to start trading within the platform. Bit2me usually takes 24 to 48 hours to respond to the verification process.
How to buy Bitcoin in Bit2me?
Already with our account created and verified, we will then be able to make operations in this Exchange. The first thing we must do to buy the crypto coins offered here is to deposit fiat money, euros in this case. The platform offers several payment methods: Bank Transfer, Credit Card (Maestro, MasterCard and Visa), Sofort and Tikebit.
For Bank Transfers the minimum deposit is 200 euros and the maximum is 20 thousand euros. For credit cards is between 30 euros and 500 euros. Sofort starts at 30 euros and the maximum is 600 euros. Tikebit is for small operations and therefore offers between 5 euros to 100 euros.
If you need to buy more than 20 thousand euros in crypto currencies, Bit2me offers a service for large investors that can trade between 20 thousand euros and 100 million euros. They ensure that they have the liquidity to meet these amounts.
How to sell Bitcoin in Bit2me?
Bit2me offers various options to sell our crypto coins within its platform. First of all you have to see the most important option they have, the sale by ATMs. Thanks to their alliance with the banks Bankinter, Abanca, Cajamar, Caja Laboral, Banco Popular, ING Direct, EVO Bank and Bankia, they can operate with more than 10,000 ATMs. These cashiers offer the possibility of obtaining cash in exchange for crypto coins.
You can also get cash by the Tikebit. With this option you can get cash at all registered merchants within the Bit2me network. Finally it is necessary to mention the option to sell by means of transference, this is the easiest option to do since we can execute it from any place where we are through any of our personal devices.
Pros of Bit2me
Is a company located in Spain
If you want to buy and sell Bitcoin in Spain, it is a good option to do it in Bit2me because we are sure of what we are doing with a company registered and regulated by the Spanish and European legal framework.
In addition, the location in Spain is also an advantage for Spanish-speaking consumers as Bit2me offers customer service in Spanish. This is an interesting element that we must take into account in the event that we have a problem with our operations.
Has a variety of options to buy and sell
Bit2me offers users a number of options for both buying and selling their crypto coins. The Tikebit is extremely useful to be able to get cash quickly through various shops. Likewise, the alliance with banks and access to 10,000 ATMs nationwide to get cash in exchange for our crypto currencies is an element that no other Exchange has.
It’s a solid company
As we mentioned before, about Bit2me there is no shadow of fraud or scam so common today in this market. In the 5 years it has been operating in Spain has been doing so safely, quickly and reliably according to the testimony of all its users.
Limited Cryptomime Offer
By trading only with Bitcoin, Ether, Litecoin, Dash and Bitcoin Cash, it limits users’ options for buying and selling crypto coins. Although it is true that these are crypto currencies with a lot of use in the market, other important currencies such as Ripple, Stellar, EOS or Monero are left out.
From the point of view of the beginner user, this disadvantage is not so bad since he does not know all the crypto currencies with which he can trade. But, for the user with more time in the market and more accustomed to make operations with crypto currencies, this limitation can be problematic.
Very uneven rates
The rates for buying crypto coins within this platform are very high, while those offered for us to sell are very low. We understand that Bit2me must earn money for carrying out the transactions and also offer a completely safe service for the user, but, this disparity and the figures they raise are unfavorable compared to other options found within the cryptomoney market.
If you are located in Spain, Bit2me is one of the safest options to buy crypto coins. While it is true that it has very high prices compared to other Exchanges, it is still an option to consider given the confidence it provides for all its users.