Bittr Review: Buy Bitcoin With SEPA and IBAN

Description

Bittr is a Bitcoin exchange that provides services to users in the EEA region. One of its standout features is that it allows you to buy Bitcoin directly into your own wallet, eliminating the need for custodial holding. The platform allows you to buy bitcoin with SEPA and IBAN in EUR and CHF.

Bittr also supports recurring buys, enabling users to automate their Bitcoin purchases and implement dollar-cost averaging (DCA) strategies effectively. Furthermore, Bittr operates as a non-KYC exchange for amounts up to CHF 1,000 or €900 per 24 hours, enhancing user privacy while remaining compliant within set limits.

These features make Bittr a user-friendly option for anyone seeking a straightforward, privacy-focused way to acquire Bitcoin directly into self-custody wallets.

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How Bittr Works

To get started with Bittr exchange, enter your email address on the platform’s website and verify it by clicking on the link sent to you. Then enter your IBAN, bitcoin address, and set up your bank transfer. To prove that you are the actual owner of the bitcoin address you have provided, you will also need to sign a message with your wallet. You need to use wallets with message signing feature, such as Electrum, Bitcoin Core, and hardware wallets such as Trezor, Ledger (via Electrum), BitBox, and Coldcard.

Bittr does not store your funds on its platform. Once your payment is processed and received in its bank account, bitcoin will be sent to your wallet within 30 minutes. The service emphasizes that it takes 0-3 business days to complete transactions and does not carry out instant transactions.

Bittr’s automated investing feature allows you to invest using a DCA (dollar-cost averaging) approach, setting a specific amount and frequency (once, daily, weekly, monthly, or yearly) that you want your bitcoin purchases to be made. You can activate this function by setting up a single or recurrent transfer from your bank. Bittr emails you a notification every time you buy bitcoin. You can follow this guide on Bittr blog on how to set up a SEPA bank transfer to buy bitcoin.

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Bittr Limits

There’s no minimum deposit amount, meaning you can start saving bitcoin with any amount. However, for transactions under EUR/CHF 100, there’s an additional EUR/CHF 1.00 banking surcharge on top of the usual 1.5% fee. The maximum amount is 900 EUR (999 CHF) per 24 hours and 99.999 EUR (99.999 CHF) per year.

Bittr Fees

The fees for purchasing bitcoin with EUR or CHR are as follows:

• 1.5% of your deposit amount charged by the company.
• The lowest possible mining fee charged by the network.

For example, if you deposit 100 EUR, you will be charged 1.5 EUR plus the mining fee. However, it may take longer for the transaction to be included in a block due to such a low network fee.

Bittr Supported Banks

Bittr works with nearly all European banks, provided the transfer originates from your personal account and is made in either Euros (for our EUR IBAN) or Swiss Francs (for our CHF IBAN). Transfers in unsupported currencies will be rejected by the exchanges’ bank, potentially incurring extra charges and causing delays. Avoid sending Euros to the CHF account or Swiss Francs to the EUR account to ensure smooth processing.

Is Bittr a Good Bitcoin Exchange?

Bittr stands out as a simple and user-friendly Bitcoin-only exchange. It eliminates the need for a lengthy registration process or complex KYC (Know Your Customer) procedures, allowing you to buy Bitcoin directly using a SEPA bank transfer. Bitcoin purchased through Bittr is sent straight to your wallet, ensuring complete control over your funds. Transactions are processed swiftly, with conversions taking just 10 minutes, and Bitcoin is sent to wallets every 4 hours. By batching transactions, Bittr keeps mining fees low, making the service cost-effective.

Transparency is another key feature, with no hidden fees, price spreads, or fixed payout costs. Bittr supports recurring buys, enabling you to practice dollar-cost averaging effortlessly. However, note that it currently does not support the Lightning Network, so Bitcoin cannot be sent to a Lightning wallet. Despite this limitation, Bittr’s focus on simplicity, privacy, and direct wallet transactions makes it an attractive option for those seeking a straightforward way to accumulate Bitcoin.

Open Bittr Account

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