LiteBit review

Zoek je een betrouwbare Nederlandse partij om cryptocurrencies aan te schaffen of juist te verkopen? Dan is LiteBit misschien wel hét platform waar je naar op zoek bent! Lees in dit artikel wat LiteBit allemaal te bieden heeft..

LiteBit introductie

LiteBit is een van de oudste cryptocurrency brokers die in Nederland is gevestigd en is daardoor een gerenommeerde speler onder de aanbieders van Bitcoin en andere cryptocurrencies. LiteBit is ontstaan vanuit de visie om het kopen van cryptocurrencies een stuk gemakkelijker te maken. De oprichters probeerden in 2012 zelf crypto aan te schaffen maar kwamen er destijds achter dat dit enkel mogelijk was op omslachtige wijze via buitenlandse exchanges. In 2013 is LiteBit uiteindelijk gestart en is uitgegroeid tot een van de grootste brokers in Nederland en in Europa. In 2017 is er een flinke redesign gedaan aan de website om het gebruiksgemak te verbeteren maar de herkenbare huisstijl van LiteBit is altijd gebleven. Hun missie is het meest klantvriendelijke en betrouwbare cryptocurrency platform te zijn in Europa. Vernoemenswaardig is dat LiteBit zowel in 2019 als 2020 de titel van Beste Crypto Broker heeft ontvangen.

LiteBit specs

Hieronder een overzicht met specificaties van LiteBit

Website talen NL, EN, FR
Gevestigd Rotterdam
Munteenheid Euro
Betaal methodes iDeal, Bancontact, GiroPay, Sofort, SEPA, Mybank, Credits
Aantal cryptocurrencies 46
Trading Volume / 24h (snapshot) € 1.3 miljoen
Te bereiken Werkdagen tussen 09:00 - 17:00
Geïntegreerde wallets Ja
Geregistreerd Ja, De Nederlandsche Bank

Wide assortment

With 46 different coins, LiteBit has a large assortment of cryptocurrencies that can be bought and sold at any time of the day. Of course all major cryptocurrencies such as Bitcoin, Ethereum, XRP, Cardano and Binance coin are simply included. For a current overview of the cryptocurrencies on offer please visit: https://www.LiteBit.eu/nl/markten

Registration & Account

Just like with every registered cryptocurrency broker in the Netherlands, at LiteBit you also have to create an account and continue to use it for all your actions.

KYC

Creating an account on LiteBit doesn’t take you much time. The steps to follow are clearly indicated and there won’t be anything surprising in between. After filling in your details and verifying your phone number, you will be pointed to the security steps to secure your account. This can be done, for example, with Google Authenticator (2fa). It is always strongly recommended to use 2 factor authentication on your accounts whenever possible.

Dashboard

After going through the verification steps, your account is opened! Now you have your own environment within LiteBit which is called your Dashboard. When you log in you are automatically taken to this dashboard. Here you can manage all your balances and see all your historical transactions. It also shows what your limits are, more about this below.

Litebit Dashboard

Limits

When you go through all the steps to verify your account, including address verification for example, LiteBit gives you pretty generous daily, weekly and monthly limits. These limits indicate how much you can trade (buy or sell) in a certain period of time.

Buying & Selling

Buying and selling cryptocurrencies at LiteBit is very easy. First you go to the tab ‘buy’ or ‘sell’ and you can easily pay with your own bank account. You do need to verify your bank account with LiteBit to continue doing transactions effortlessly. After that you can easily and quickly make transactions with payment methods like iDeal. As soon as you want to buy or sell with a new, still unknown bank account, you will have to verify it again. When you sell cryptocurrencies the amount will be transferred to your bank account within 1 working day.

LiteBit Credits

LiteBit also has its own cryptocurrency which can be used within the LiteBit platform, called LiteBit Credits (LBC). These credits always represent the value of 1 euro and are therefore very useful when you want to sell some crypto quickly but don’t want it to be deposited immediately into your bank account. You can then choose to make the payment in LBC which you can easily use at a later moment to buy cryptocurrencies. This way you always need to have your bank account ready in order to be able to trade.

Wallets

LiteBit has so-called ‘Custodial wallets’ which means that they are allowed and able to store cryptocurrencies for their clients. You can find these wallets in your dashboard and you can use them to store all 46 cryptocurrencies. It is a very convenient service. Still, we recommend never store your long term holdings on an exchange or broker wallet, but rather on your own personal wallet.

Prices

The prices per coin at cryptocurrency brokers will always be just a bit higher than on large international exchanges. Brokers buy and sell their stock on large exchanges to be able to offer them themselves and therefore make a small margin on this. In exchange, you get very extensive customer service. The margin includes network costs, transaction costs and service fees. The trading prices, and thus margin at LiteBit can simply be found on their website: https://support.litebit.eu/hc/en-us/articles/360020602119-Trading-and-withdrawal-fees

When we do a simple calculation, the actual margins seem to be even lower than what is shown on the website:

For Bitcoin: 1%

For Ethereum: 1.8%

For Cardano: 1.5%

These margins are calculated on the average price per coin derived from Coingecko.com.

Additional features

Besides the LiteBit Credits system which is very convenient, LiteBit has some interesting features that we would like to highlight.

LiteBit app

LiteBit has an app for Android and IOS with which you can easily manage your cryptocurrencies from anywhere. With this app you can access all the important functions that you can on the platform itself, such as: Buy, Sell, Check Market Developments and Contact Customer Service.

Litebit app

Price notification

If you would like to buy a cryptocurrency, but not at the price it is currently traded at, you can set a price notification. You do this in your account dashboard under ‘buy’. If the cryptocurrency drops and hits the price you have set a notification for, you will receive an email from LiteBit. This allows you to react quickly and purchase the cryptocurrency. We found this a logical and pleasant extra option at LiteBit.

Partner program

Like almost all parties, LiteBit also has a partner program. This program allows you to earn credits simply by sharing your affiliate link with others. When new people register on the LiteBit platform through your link, you get 25% of the profit per transaction. So basically you share the profit of the transactions together with LiteBit. Read all about the affiliate program here: https://www.litebit.eu/en/partner-program/.

Support

LiteBit makes it easy to buy and sell cryptocurrencies and aims at a beginner and advanced audience. It is not for nothing that you can reach LiteBit all week long via phone, email and live chat. There is also an extensive frequently asked questions section which helps you to get started quickly.

Conclusion

LiteBit is in many ways a one-stop-shop where anyone interested in buying and selling cryptocurrencies can go. LiteBit makes trading cryptocurrencies incredibly easy due to the LiteBit Credits system and the mobile app. Also the limits and the trading costs are fine at LiteBit and we therefore recommend LiteBit as a provider of cryptocurrencies.

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