Pronounced as Bitkwist, is one of the latest known crypto brokers in the Netherlands. Their business is operative in the city Rotterdam with having 2-10 employees. The company Bitqist B.V. has been founded in 2018, but their website went live in 2017 as an alternative to Coinmarketcap. In a later stadium more and more functionalities were added to compete with other brokers in the Netherlands. Bitqist is currently the 3rd largest broker in the Netherlands, based on the amount of crypto’s, with now trading over 140 different crypto’s on their platform. Normally brokers start to build their portfolio along the way, starting with around 4 up to 20 crypto’s, but Bitqist started big and is adapting fast when needed.
“Our mission is to drive mass adoption of crypto by providing a platform on which every single person is able to trade.“
The website has excellent responsiveness which makes it also ideal for mobile usage . Save the webpage on your mobile’s or tablet’s home screen and you wouldn’t even notice that it isn’t an app.
Their account interface, dashboard and design is one of the most easy-to-use for buying, selling and storing crypto and doing so securely. It even looks a little bit as Coinmarketcap, as being accessible, compact and yet extensive. If you are familiar with Coinmarketcap, than going through Bitqist is like a walk in the park.
Fun fact! Did you know that the company is located in the same street as their competitor LiteBit? As quoted from the movies: “keep your friends close, but your enemies closer.”
Knaken, Bitladon and Coinmerce are also direct broker competitors besides LiteBit.
To start trading you have to be verified, which is obliged by the Dutch government to prevent any form of criminal behavior. There are four different verification levels which are called Tiers. The first one is called Unverified. Whereby you can take a look around after registering your account and confirming your email address, get familiar with the platform and interface, but it is not possible to perform any activity. Second one is Basic verified. You start with entering your personal data as name, address, postal code, city, country and date of birth. Procedure is simple and will not take longer than five minutes. Once verified you are able to do the following:
It is not needed to verify your bank account at Bitqist to do a fiat deposit. You can simply deposit with iDEAL or bank transfer to buy for example bitcoin, the used bank account will be added to ‘linked bank accounts’ in your settings. Depending on your bank, time and location the transfer is done within 30 minutes (or faster) when using iDEAL. With a transfer it may take up to two days. When the bank account is linked you are free to do a withdrawal from Bitqist to the linked bank account.
When the weekly limit of € 1,000,- is too low, you are able to go to Tier 3 where you have to be ID verified. A copy of your ID and a selfie is required to get a weekly limit of € 25,000,-. Thinking of acting like a whale ? Then Tier 4 is the ultimate step, ID + address verification, to get a weekly withdraw limit of € 100,000,-.
Bitqist handles their costs and prices easy and transparent. The combination of the two is build up as following:
Customer price = exchange rate + spread (1,50%) + fee (0,25%)*
Prices shown on Bitqist are with spread, without the fee.
Prices shown on CoinCompare are with the spread and fee.
The spread on the trades of 1,50% (determined by Bitqist) may differ due to market fluctuations between the time of quoting the price and when the order executes. The fee of 0,25% shall be added over the total amount of the transaction. It may vary based on your location, payment method and on transfers to and from some foreign banks. Besides the spread, Bitqist will always notify you of every fee that is added before you conﬁrm your trade.
So, no unexpected costs, no surprises!
Bitqist does not have any additional commission besides the regular miner-costs for crypto, in compare to their competitors, on deposits and withdrawals for fiat and crypto. This is one of biggest advantages, which gives you the freedom to store your assets however you want without additional costs and minimizing the loss of value.
It is possible to start trading from € 10,-. When depositing crypto you are able to start trading from € 5,- in value.
By using the button below, to create an account and have it verified, you are able to trade the first two months without any fees .
It will save you up to 0,25% on your total buy and sell transactions! Introduction promotion is temporarily.
When the promotion stops and you are registered via CoinCompare, you will always receive a 25% discount on the commission on all trades .
Bitqist likes to differentiate. Instead of using the term wallet, they use accounts where you can manage your purchases, sales and balances through for example iDEAL. On functional level wallet and account act the same. All purchases and deposits are stored directly into your accounts, which can directly be used for trades.
Currently the following crypto are supported to deposit in your Bitqist account:
If you have any other crypto than the above, you are not able to send them to Bitqist yet for trading purposes.
Bitqist is fully compliant to the Dutch law and regulations and is committed to making sure that their platform shall not be used for launder money, support terrorism, commit fraud or any other illegal activities. As repercussion Bitqist shall never perform any ICO’s. With the following measurements they ensure the quality of security to secure your account, personal data and crypto that is stored in your wallet:
Keep in mind, in the end, you as user is the best defense against account breaching and theft! Therefore, CoinCompare always recommends to use a hard wallet to be fully independent from online wallets.
Bitqist is linked to several crypto exchanges to make crypto trades functional, purchased and to sell at the best price and to ensure that popular and the latest crypto’s are available quickly for their customers. Unfortunately, we do not know which exchanges Bitqist is working with.
The main language is English to support over 111 countries around the world. Dutch is supported as well in the account’s interface and dashboard, but not yet for Announcements, FAQ, Legal and some verification steps. Those will be supported later.
At CoinCompare we like to show you broker reviews from customers. At the moment it is not yet possible for Bitqist and we would like to refer you to Trustpilot.
By Jeroen Modified 03/02/2020