Bittylicious Exchange Review
Bittylicious – Is It Good?
Bittylicious is a very unusual take on Bitcoin exchanges. Being a P2P exchange you’d expect menus and options to see buyers or sellers and their offers. Instead you’re greeted by a simple menu to buy or sell Bitcoin right at their home page!
With over a thousand reviews on Trust Pilot averaging at five stars (which is also highly unusual), it’s definitely one of, if not the best rated exchange we’ve ever seen.
But how good is Bittylicious? Is Bittylicious trustworthy? How do you use the interface? And, most importantly, how does it stack up against other platforms?
What Does Bittylicious provide?
Bittylicious is a British company founded in 2013, making it one of the oldest and best established Bitcoin exchange out there. Their mission, “Making the Bitcoin buying experience as easy as possible” is something they definitely take to heart at Bittylicious.
While a lot of exchanges offer lots of options with charts and menus to help users, Bittylicious goes the other way. They set up a very simple interface to exchange Bitcoin as soon as you go to the home page. All you have to do is fill up your information (like wallet address and email), select your purchasing option and your form of payment. You can pay with credit or debit card, bank transfer, Paym, Barclay’s Pingit, and RBS/Natwest PYC. Once you’ve chosen your form of payment simply select “get some coins” and you’ll get a reference number and your payment information. Once you make the payment you usually get your Bitcoin in only five minutes. It’s extremely simple and easy to use.
You don’t have to use it only for Bitcoin either. Bittylicious supports another 15 alt-coins, which is quite decent for the average exchange. Its business model also allows them to make transactions with very little liquidity. You see when you send the money, you’re not sending the money to Bittylicious. Instead you’re sending it to another user who has already validated their offer. Bittylicious is only the middleman to connect both of you, so it doesn’t actually store any money. You’ll have to set up your own wallet, which is safer anyway.
This however means that you may encounter problems of liquidity. While a lot of people are looking for Bitcoin, when exchanging a lesser known alt-coin you may encounter a few issues. However, Bittylicious does hold the cryptocurrency in escrow for added security.
Bittylicious also has an amazing five star average on Trust Pilot, as we mentioned before. This is extremely unusual since most exchanges have low ratings due to the majority of their disappointed users actively looking for a place to vent and complain. This seems to be due to their reliability, their speed and, most importantly, how easy it is to use it.
Since Bittylicious doesn’t hold any type of currencies, you can use it anywhere in the world. That’s right, Bittylicious can be used worldwide.
However, since it’s only a P2P platform, you’ll be limited to what other people want to buy and sell. They also don’t accept card payments from the usual countries: Cuba, Iraq, Iran, North Korea, Sudan, Syria and Turkmenistan. Also, some payment processors have additional restrictions, e.g. 3D Secure might be required in certain countries.
Bittylicious Rates and Buying Limits
With Bittylicious, you’re getting a simpler and easier service, and paying it with their fees. This exchange is actually more expensive than average, since it takes advantage of the fact that people won’t go there to look for a good deal, they’ll go there to get the simplest deal they can.
Bittylicious fee: Around 3% (for BTC)
It’s worth noting that as a buyer, Bittylicious doesn’t charge you anything technically speaking. Instead it’s the sellers who set up their fee. This means that fees will usually be higher when dealing with less popular alt-coins, like Dogecoin or Vertcoin.
- Perfect for beginners: If you’re looking for an easy way to get a hold of some crypto, you won’t find an easier option than Bittylicious
- Fast: Transactions are usually done in five minutes.
- No verify needed: You don’t need to verify your account if you’re purchasing less than 0.09 BTC.
- Credit card supported: You can purchase through credit card, although you’ll pay the highest fees.
- High Fees: Their platform is made for effectiveness, not for economizing your purchase.
- Not for large amounts: The point of Bittylicious is to get crypto the easy way. If you’re purchasing large amounts of crypto you’ll be better off with a cheaper option.
- Low liquidity: This is usually a problem for lesser known alt-coins.
Go to Bittylicious
Is Bittylicious Good For Bitcoin?
Bittylicious is a great bitcoin exchange for anyone looking for something fast, easy and convenient. It’s extremely easy to use and, while the interface doesn’t look like much, it’s very intuitive. However if you’re anything more than a beginner you’ll probably be better off with a platform that gives you more control over your crypto and more options at lower fees. However you can’t go wrong with Bittylicious if you need some Bitcoin now and don’t want to go through any hoops