BIT.TEAM
Reviews 12
No complaints yet
3.3
Unverified company
bit.team
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The service offers to place and accept ads for buying/selling cryptocurrencies using 24 fiat units.
Cryptocurrency exchange
Website
Social media
Date of foundation
2016
Head Office
85 Great Portland Street, First Floor, London, England, W1W 7LT
Types of support
Feedback form on the site
Office
Help Center
VKontakte
Facebook
Telegram
Twitter
Instagram
Languages
English, Russian
The owner of the company
BIT TEAM Group Ltd.
Manager
Anatoly Berdnikov
Minimum entry amount
Verified
No limits
Unverified
No limits
Maximum input amount
Verified
No limits
Unverified
No limits
Minimum withdrawal amount
Verified
No limits
Unverified
No limits
Maximum withdrawal amount
Verified
No limits
Unverified
No limits
Exchange Commission
Transaction fee: 0.4 %
Terminals
Author's platform
Age restrictions
From 18 years
Number of cryptocurrencies
17
Margin Trading
No
Tokenized assets
BTT
Free Demo Account
No
Types of accounts
Execution of orders
Market Execution (at market price)
Methods of replenishment
Bank card (Visa/MC), Webmoney, Qiwi, Internet banking, Advcash, Cash, UMoneu, Wire transfer, Alipay, Neteller, Payeer, Gold Crown, Western Union, etc.
Withdrawal methods
Bank card (Visa/MC), Webmoney, Qiwi, Internet banking, Advcash, UMoneu, Bank transfer, Alipay, Neteller, Payeer, Golden Crown, Western Union, Cash, etc.
Account currencies
RUB, USD, EUR, GBP, AUD, etc.
Types of cryptocurrencies
Bitcoin, Ethereum, Litecoin, PRIZM, BipCoin, Bitcoin Cash, USDT, etc.
Licenses
Licensed
FCA (Financial Conduct Authority) No. 12217300 (Активна)
Mobile applications
No mobile apps
Trader training
No
A way to store cryptocurrencies
Cold: no
Hot: no
Fiat accounts
Yes
Scalping
No
Stop Loss and Take Profit Function
No
Exchangeability for fiat currencies
25 fiat currencies (RUB, USD, AUD, BRL, CAD, CHF, CLP, CNY, DKK, GBP, HKD, INR, ISK, JPY, KRW, NZD, PLN, SEK, SGD, THB, TWD, UAH, KZT, BYN)
Terminal capabilities
PVP exchange
Basic verification
Yes
Extended AML verification
Regulatory laws
Law of the Russian Federation "On digital financial assets" from January 1, 2021
The Law of the Russian Federation from 07.08.2001 N 115-FZ "About counteraction to legalization (laundering) of incomes received by a criminal way and terrorism financing".
API
No
Affiliate Program
RegistrationFrom 1 to 25% of the amount of referral commissions
Benefits
60+ deposit/withdrawal methods
Ability to exchange cash, discounts for paying with tokens
Large limits and low commissions
Quick and easy verification
All popular cryptocurrencies (Bitcoin, Litecoin, Ethereum, etc.)
Good choice of fiat
Disadvantages
No direct communication with the company
There are no tools for placing orders
Transaction processing can be delayed for up to 1 month
Company requisites
Overall assessment
7.6/10
Date of update
27.04.2022

    BIT.TEAM is it a scam? Reviews and description

    25 June 2020


    BIT.TEAM - is a product of a young company registered in the UK in 2017, representing a combination of an exchange and P2P (inter-user) exchanger. At the moment, the functionality is limited to posting and accepting ads for trading cryptocurrencies using 25 fiat units.

    Is it worth trusting a new market player or crypto exchange Is BIT.TEAM a scam? Let's study carefully all the features and conditions and make our own conclusions.

     

    Why BIT.TEAM

    The exchange has a number of advantages:

    • A good choice of fiat, among which are Russian rubles, euros, dollars (American, Canadian, Australian, Hong Kong, New Zealand, Singaporean) and krones (Danish, Swedish, Icelandic).
    • All popular cryptocurrencies (Bitcoin, Litecoin, Ethereum, etc.).
    • Ability to exchange for cash (when meeting in person with a representative of the company).
    • More than 60 methods of deposit/withdrawal.
    • Quick and easy verification. Takes 3 minutes, requires confirming phone number via SMS, uploading photo ID and selfies from personal device camera.
    • Provider registered with the FCA (one of the most trusted regulators).
    • Russified service and translated into Russian policies.

    In general, BIT.TEAM shows itself quite well when evaluated at a quick glance. But let's move on.

    BIT.TEAM is a scam? Reviews

     

    How to exchange cryptocurrency on the BIT.TIM platform

    To be able to purchase cryptocurrency and fiat through bit.team, you need to register. Click on the button "Login" in the upper right corner of the site, and then (in the form that opens) - "Register".

    BIT.TEAM registration

    Enter your email address and confirm it by following the link in the email sent to you by the administration. And fill out a small form: the country of residence (account creation is not available to residents of the United States, Japan, China and Puerto Rico), the user name, password, consent to the rules of the service (the user agreement and privacy policy).

    In the end, let's log in. Now our personal account is available to us. As we wrote above, 8 virtual units are available in BIT.TEAM: BTC, LTC, ETH, PZM, BIP, OMNI. ERC20 and BTT and 24 fiat currencies: RUB, USD, AUD, BRL, CAD, CHF, CLP, CNY, DKK, GBP, HKD, INR, ISK, JPY, KRW, NZD, PLN, SEK, SGD, THB, TWD, UAH, KZT, BYN (How to make money on cryptocurrency?). Execution is market (instant). Setting of criteria of the transaction is limited by type of asset and the sum - additional toolkit is not provided. Processing is carried out in a 24/7 mode. Support - by e-mail (a direct letter or an appeal), as well as through the official communities of the platform in social networks.

    How to buy cryptocurrency on the platform

    There are two ways buying/selling cryptocurrency online bit.team:

    • Execution of ready-made (created by other users) ads.
    • Creating your own ad.

    BIT.TEAM buy cryptocurrency

    In the first case, you simply go to the "Buy" or "Sell" section of the footer, set the desired assets, amount, and select the appropriate deal from the list that opens. Limits and prices will be visible, but you won't be able to edit anything in the exposed contract. In the second, you fill in a similar form in the menu item "Place Ad", but with your own requirements for the rate, limit and profit percentage, and you have to wait for another user to agree to the deal in order to receive funds. The exchange is confirmed by entering the verification code from the SMS message sent by the payment agent to your phone.

     

    Verification on the bit.team platform

    Verification is a prerequisite for using the service - without passing this procedure, you will not be allowed to exchange (buy/sell) cryptocurrencies. It is necessary to confirm:

    • Cell phone number (a text message with a verification code will be sent to it).
    • Identity (a photo of passport, driver's license or ID-card is uploaded to a special form, and selfies are taken in real time).

    The system will verify the information in 3 minutes and give a verdict. To pass the procedure, you need to open your personal cabinet and go to the "Verification" tab of the "Profile" section of the Personal Area menu.

    BIT.TEAM verification

     

    Deposit and withdrawal

    BIT.TEAM has fairly wide limits. The calculation is made in fiat currency, regardless of whether you sell or buy cryptocurrency, and the minimum transaction amount is only 1 ruble, and the maximum amount reaches almost a million in Russian currencies. At the same time, neither in the user agreement, nor in a special section of the site are not prescribed restrictions on the amount of withdrawal - apparently, they are established on an individual basis.

    bit.team limits

    Cryptoexchange Commission

    The commission on the crypto exchange is not fixed: it is set individually and is already included in the rate (exception: transactions through the payment gateway, WALLBTC - 4%). Therefore, the amount you see before confirming the transaction may change with the fluctuation of the exchange rate/charge amount, and the output figures will turn out to be different.

    Withdrawal fees

    Like trading, BIT.TEAM withdrawal commission is not stipulated - in the exchange window you just see an approximate amount of c.u. you will receive as a result of transaction execution. Of course, the figures are indicative and change with the rate fluctuations, so you can't determine the exact percentage of collection even by experience.

     

    BIT TEAM Bonuses

    BIT.TEAM has no bonus program. Considering that the provider does not keep client funds (your card/wallet/bank account is debited exactly as much as you need to make the exchange, and the money goes into the company's single account), no accruals or gifts can simply be provided. The only way to get something is to participate in an affiliate program.

    Referral program

    According to the affiliate (referral) program on the site bit.teamYou receive from 1 to 25% from the commissions of users (referrals) who have visited the site through the unique referral link given to you and subsequently registered. The link is available in your personal cabinet. You copy it and place it on any public resource (site, page/group of social network, chat/conversation, forum, etc.), if it does not violate its rules and human rights. Each click on it is recorded by the system and the crediting of interest is reflected in your profile. The amount depends on the total amount of all transactions of your referrals.

    BITTEAM affiliate program

     

    Complaints about Bit.Tim

    Due to the fact that the platform is young, there are almost no reviews about it yet. We found only a few, published on a well-known review site. And their authors praise BIT.TEAM for the promptness of operations, simplicity, convenience and safety.

    bit.team reviews

    If there are any reviews about BIT.TEAM, we will definitely publish the information in social networks. Sign up so you won't miss anything!

    Please keep yourself informed about news and complaints. We copy the most valuable information to social networks, so please sign up!

     

    BIT.TEAM regulation

    Before depositing on an exchange, it makes sense to check not only the reviews about it, but also to study the licensing and legal framework. Let's see how BIT.TEAM performs in this respect. If you believe bit.team website, the platform belongs to British company BIT TEAM Group Limited, registered in London under number 12217300. The legal entity is regulated by the FCA (Financial Conduct Authority) of Great Britain and is present in the register of the controlling body. Its specialization is financial management. As for the Russian representation of the organization, there is no information. However, bit.team is not on Roskomnadzor's "black" lists.

    Bit.team user agreement

    BIT.TEAM User Agreement is a russified document that establishes the rights and obligations of the administration and users of the resource to each other. Let's look at several provisions. So, the first point describes the requirements for users who register on the crypto exchange:

    • Minors, as required by the country of registration/location (18+ or 21+).
    • Any territory of residence except Japan, USA (and any of their territories/domains), China, Puerto Rico.
    • Lack of blocking on the service (if accounts were previously opened for the same person).
    • Compliance with rules and regulations.

    BIT.TEAM User Agreement

    The company has the right to block an account not only at the initiative of its owner, but also on its own initiative, if there are suspicions of unauthorized access by third parties, suspicious/unusual transactions or actions have been performed, or if the requirements to provide data as part of verification have not been met. And also at the request of authorized state bodies (clause 3.3.4.11.1).

    BIT.TEAM account blocking

    Disputes about transactions are accepted within 48 hours after the occurrence of the described events. In some cases, the provider conducts a transaction review. The duration of delays is up to 1 month. BIT.TEAM does not guarantee the smooth operation of the service (clause 10.1). Its owner is not responsible for losses resulting from failures and other incidents occurring while working with the platform (clause 10.2).

    BIT.TEAM guarantees

    If applicable law still provides for liability and the need for compensation, the amount of this compensation may not exceed the amount of commissions paid by the user for the last 12 months at the time of the disputed events (clause 10.3).

    BIT.TEAM responsibility

     

    Is BIT.TEAM a scam?

    BIT.TEAM - is a service with a British registration (here we recall that the FCA is considered one of the most reliable regulators) and russified documentation (by the way, many "long-playing" resources, although they work with Russian users, do not translate their documentation from English). The user agreement here is standard. Here we see the absence of the company's responsibility for the client's losses (the platform is provided on "as is" terms) and the impossibility to receive compensation exceeding the amount of your annual deductions to the provider (commissions).

    An unpleasant point is also the lack of direct communication with the support team (by phone, through online chat), which slows down the speed of solving problems. However, it is possible that this is a temporary phenomenon. In general, despite the individual "beacons", it does not seem that bit.team is a scam. Although at first we recommend you not to invest large sums in the exchanger.

     

    Conclusion

    BIT.TEAM - is yet another newcomer to the market, trying to fend off competitors by using a new concept (exchange between users placing and accepting buy/sell announcements). No additional (exchange) instruments are offered here, but there is practically no limit on the amount of exchange.

    In favor of the service is also a large number of ways to deposit/withdraw (including - Russian: Sberbank, Yandex.Money etc.), fiat, processing of verification requests in a few minutes, and the ability to exchange for cash. But, as it seems to us, it is too early to judge about this service provider. It all looks pretty good, but reviews of the exchange are still scarce.

    Exchange Commission
    70%
    Transaction speed
    62%
    Reliability
    70%
    Technical support
    63%
    3.3

    Отзывы

    • Blocking

      All was well, until the technical problems began. Problems, within a month the account is blocked, then unblocked, but the withdrawal is not available, then available, but the terminal does not work. In the end, blocked without explanation, with chats deleted, saport does not respond, support on p2p says wait for you in line. How to pick up the coins hz.

      Reply to this review
      2.5
    • Great exchanger

      Great exchanger, I use it all the time since 2019, I recommend it.

      Reply to this review
      5
    • The coolest exchanger!

      If you follow the instructions, just great! support team responds quickly, just as quickly responds, "enemy"will not pass! great exchanger!

      Reply to this review
      5
    • On the whole, I am more than...

      On the whole, I am more than satisfied! My friends introduced me to this exchange office. In 1 year of experience, all is well

      Reply to this review
      4.8
    • I don't have too much experience with...

      I don’t have too much experience with crookedness yet. But it is extremely convenient to trade here. I found this exchange first of all because of advice from friends, now I made a couple of transactions all cool. + I have not had too much experience in trading here yet.

      Reply to this review
      4.5
    • Very good! The guys here know their...

      Very good! The guys here know their job well, always in touch, no problem to withdraw money!

      Reply to this review
      4.3
    • I am always satisfied after using Bittim

      I am always satisfied after using Bittim. Service is 5+. As a rule transactions go on exchange for lightcoin and ethers. Withdrawal to RUB in Tinkoff. I advise.

      Reply to this review
      4.8
    • I use this service since the beginning...

      I use this service since the beginning of 2019. I also give referral link to all my friends who want to buy/sell cryptocurrency. I get up to 500 bucks a month for their crypto trading. It’s very nice. Communication with the company is decent — right on the website there is a chat with support. The prices are nice. I trade there on the difference in exchange rates.

      Reply to this review
      2
    • I use this service, transactions are conducted...

      I use this service, transactions are conducted quickly and at a reasonable rate the money comes directly to the card, very convenient

      Reply to this review
      1.5
    • Good exchanger, I've used it many times

      Good exchanger, I’ve used it many times. Never had any problems. Only there I buy and sell cryptocurrency.
      I recommend it to everyone!

      Reply to this review
      1.5
    • Normal exchanger, I used it 8 times

      Normal exchanger, I used it 8 times, no problems so far, and without verification…

      Reply to this review
      1.8
    • I have been using this service for...

      I have been using this service for about a year now. I like everything. It is convenient and fast. Support solves issues very quickly through: a chat built into the service. There is also a chat on Telegram for 6000 people. Everyone is also happy there and use it every day. About large turnovers — look at the orders there, millions of rubles and everything is great. I recommend this service to everybody.

      Reply to this review
      2.3
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