A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of Bittylicious consists of four parts: general information, fees, deposit methods and security.
Bittylicious is one of the funniest names on a cryptocurrency exchange out there. Presumably it is a reference to Destiny’s Child’s classic tune Bootylicious. But who knows.
Bittylicious’ domicile country is the United Kingdom. United Kingdom is the country which without a doubt has the most cryptocurrency exchanges in the world. At least that we know of. A non-exhaustive list of exchanges from the UK (in addition to this one) includes Exmo, CEX.io, CoinEgg, Livecoin, DSX, LocalTrade, CoinMate, Indacoin, MixCoins, Paybis, Vaultoro, Instant Bitex and eToro.
The primary goal of this exchange is to be a simple and speedy way of buying or selling cryptocurrency. Users will basically get their Bitcoins or relevant altcoin within approx. 10 minutes of starting their bank transfer. This is naturally much faster than the regular fiat-to-crypto process at a regular centralized exchange.
This exchange promises to give you prompt support during any UK working day, and also promises that industry best practices are followed when it comes to AML (Anti-Money Laundering) and KYC (Know-Your-Customer procedures).
The exchange also has a “Bitcoin buying tutorial” with a layout that is confusingly similar to Wikipedia:
Bittylicious Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-views. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. At this exchange, the trading interface is much simpler. This can be particularly helpful for newer investors, but will of course lack a few features a more experienced trader likely desires. The below is a picture of the trading interface:
Bittylicious does not explicitly prohibit US-investors from trading on its exchange. In any event, all US-investors should still do their own independent analysis of any problems arising from their residency or citizenship. In a worst-case scenario, they are still prohibited from trading at one or several exchanges that could be the best cryptocurrency exchange site for them (maybe including this one).
Bittylicious Trading fees
Now this exchange is different from most top crypto exchanges in the way that it does not offer trading between cryptocurrencies. The only service offered is buying and selling Bitcoins and a number of altcoins. When buying a coin from an exchange such as this one, the price offered by the exchange is usually somewhat higher than the real market price. Conversely, when selling a coin from an exchange such as this one, the price offered by the exchange is usually somewhat lower than the real market price.
On the date of last updating this review (28 May 2020), the mark-up/mark-down charged by Bittylicious was 6.55%. This is very high.
Bittylicious Withdrawal fees
In light of how this exchange conducts its business, withdrawal fees are irrelevant.
At this exchange, you can purchase coins through both wire transfer and credit cards. This can be particularly helpful for newer crypto investors and also makes this exchange an “entry-level exchange”. Bittylicious actually also accepts cryptocurrency purchases through American Express. To our knowledge, they are quite unique in this among cryptocurrency exchanges.
Bittylicious has an extremely good security score. We run all exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/), and a lot of the exchanges receive F as scores. This exchange, however, received a B-score, which is very impressive. Sure, the result in the Mozilla Observatory-test is only one of many indicators of an exchange’s security, but based on this indicator, Bittylicious is doing a great job.
As mentioned above, this exchange supports credit card deposits (alone or through the use of any of its associated payment service providers). Other cryptocurrency exchanges that also have this option include: