BitLio Exchange Review: Scam or Legit?

/BitLio Exchange Review: Scam or Legit?

BitLio Exchange Review: Scam or Legit? 2018-02-23T13:13:19+00:00

What is Bitlio?

Bitlio is one of the many Bitcoin exchanges in the market that is currently supported in more than 40 countries. The digital currency exchange platform allows customers to buy and sell Bitcoin in an easy and affordable way.

Also, customers can use one account to pay bills as well as exchange funds with clients, friends, or family. The platform has emerged as one of the most reliable brands in the market considering its emphasis on security, transparency, and market-leading compliance.

The digital currency space is full of many fraudsters and it is not easy to find a trustworthy platform like Bitlio. The digital currency concept has got many advantages to users and the main objective of this platform is to ensure that all people around the world enjoy the digital currency benefits.

The Bitlio website does not have information about the company’s ownership or location. A customer’s Bitlio wallet must be connected to a bank account for any withdrawal to take place. In addition, there is always through verification of a customer’s digital wallet before withdrawal.

In other words, Bitlio is similar to a traditional exchange bureau as it does not involve average trading. The fact that the platform offers cold storage for over 95% of Bitcoin and this creates a safe trading environment. This article will provide a comprehensive BitLio review that can help a customer answer important questions such as;

  • Is BitLio Legit?
  • Is BitLio Safe?
  • Can I trust BitLio?

 BitLio Review

  • BitLio is a regular trading exchange where customers are allowed to buy or sell Bitcoin.
  • The company is based in Belize and has operations in more than 40 countries across the world.
  • The company began its operations in 2016.
  • As mentioned earlier, the platform has 40 supported countries with the most notable ones being the United States, New Zealand, India, and Australia.
  • BitLio has no limitations when it comes to buying selling amounts.
  • The buying payment method is a local bank transfer.
  • The selling payment method is a local bank transfer.
  • The available cryptocurrencies for BitLio are Bitcoin, Ripple, Ethereum, Tether, and Bitcoin cash.
  • The customer has to produce photo ID for verification.
  • BitLio fees can be as low as 0%.
  • Apart from being a digital currency exchange platform, BitLio can be used to pay bills.

Is BitLio Safe?

As mentioned earlier, BitLio puts a lot of emphasis on security and that is why it is among the most trusted brands in the market. The company protects its customers’ funds using cutting-edge technologies much as military grade encryption.

In addition, offline wallets are normally used to store up to 95% of the coins being held by the company to demonstrate that security and privacy are its priority. In an attempt to comply with regulations, the company has a thorough user verification process that is meant to protect customers and at the same time minimize cases of fraud. The company has cloud servers where personal customer information is normally stored.

  • Community trust

Community trust is very important when it comes to the success of any digital currency platform and that is why BitLio has always been focused on compliance. It is difficult for the Bitcoin community to trust a platform that does not comply with market regulations. In this case, BitLio has become a market leader when it comes to transparency and security in digital currency exchange.

  • Security- encryption, HTTPS, how they keep themselves safe?

Bitlio employs a two-factor authorization and a bank-grade encryption that guarantee the security of user accounts. Therefore, the platform is well secured and users do not need to worry about the security of their funds.

  • Customer Support

Currently, customers can seek support on the BitLio website by going to the FAQ section, but the company has plans to introduce both Telegram and SMS support. The FAQ section covers a wide range of topics concerning the platform include;

  • General information
  • Limits and verifications
  • Deposits and withdrawals
  • Trading
  • Security
  • Developer
  • Handling speed

BitLio is a very strong platform that is able to handle speed and meet the expectations of its customers. The platform has local banks in over 40 countries to facilitate the speed of transactions.

How to use BitLio?

Deposits:

  • Log into your Bitlio account.
  • Deposit Bitcoin in your Bitcoin Wallet.
  • Go to the quick Links menu and send the Bitcoins to your Bitcoin address.

Withdrawals:

  • Log into your BitLio account.
  • Go to the BTC balance and click Withdraw.
  • Enter the number of Bitcoins your intent to withdraw.
  • Enter your external wallet address.
  • Click withdraw.
  • Confirm the action.

BitLio Review Summary

Bitlio is one of the most secure Bitcoin exchanges in the market that also allows users to pay bills from the same account. The platform allows customers to sell and buy Bitcoin in an easy and affordable way.

The company puts a lot of emphasis on market compliance, transparency, and security. The transparent nature of its operations has made Bitlio become one of the most trustworthy brands in the Bitcoin market. Bitlio has a presence in more than 40 countries with a thorough verification process to prevent cases of fraud.

Some of the pros associated with the Bitlio Bitcoin exchange platform include;

  • Presence in over 40 countries
  • Local bank transfer
  • High levels of security and privacy
  • An elaborate FAQ section
  • It allows customers to pay bills from their account
  • Strict compliance with legal requirements

Bitlio’s Cons include;

  • Lack analysis and charting tools
  • Relatively high commissions
  • It is an offshore company
  • It is an immediate successor of a scam company

BitLio is good for both beginners and high rollers as it is easy to use and guarantees the security of customers’ funds. The fact that the company was an immediate successor does not necessarily mean that it will also turn out to be a scam. Therefore, the platform is worth considering due to the strict security measures that have been put in place to prevent fraud.

Thank you for checking out this Bit Lio review, we hope it was useful for you. Make sure to visit our website and learn more about other cryptocurrency topics.