Frequently Asked Questions

Inform yourself

What is Bitcoin and Ether?

Bitcoin and Ether are two different types of cryptocurrencies. A cryptocurrency, also called crypto asset, is a digital asset usable on a peer-to-peer and decentralized computer network, designed to work as a medium of exchange using cryptography to secure the transactions. We invite you to visit, this page or this link to learn more about Bitcoins and Ethers.

What is a Bitcoin address?

A Bitcoin address is the public address of your Bitcoin wallet. To obtain this public address, you must create an electronic wallet (Wallet) which will contain two addresses: a private address and a public address.

How can I...

How can I register on bity.com?

Visit this blog post which contains a detailed explanation on how to register to our bity.com portal.

How can I register my Bitcoin address in the dashboard?

This blog post explains in detail the steps to register your Bitcoin address in the dashboard.

How can I buy cryptocurrencies?

You can buy crypto in 6 easy steps:

Note: If you are already verified, proceed to step 3.

1) Login with your email address. If you don’t have an account you can follow our guide How to register on Bity.com

2) Go to “Buy/Sell” to place your order.

If you didn’t complete your profile, you will see that you need to get verified for buying cryptocurrency with fiat money.

It is very easy: Click on the “Get verified” button and complete all the actions required to open an account. For more info check out our How to get verified.

NOTE: Want to trade/swap bitcoins (BTC) for Ether (ETH) or the other way around? You are ready to go! –> Follow our How to swap Crypto to Crypto: Ethers (ETH) and Bitcoins (BTC) on bity.com

3) Let’s buy some Cryptocurrencies!

Choose a fiat currency (CHF/EUR). Then, select the cryptocurrency and enter the amount you want to buy. Please, note that this is an estimation: the amount of cryptocurrency you will receive will vary according to the rate when we process your order.

4) If you didn’t add your wallet address we will ask you to do so before continuing to the payment.

If you already have one, choose the wallet you want us to send you the cryptocurrency and click “Next”.

5) Choose a payment option: bank transfer SEPA, online bank transfer (or SOFORT banking).

6) Send the correct amount in CHF/EUR to our bank account. Please, do not forget the reference number!.

If the name of your bank transfer does not contain the correct reference number we will not be able to process your order.

You’re all set!. As soon as we receive your funds, we process the transaction and send the crypto to your wallet! You can click on “History” to see the list of your orders.

How can I sell cryptocurrencies?

This blog post provides step by step instructions on how to sell cryptocurrencies.

How can I swap or exchange cryptocurrencies?

This blog post provides step by step instructions on how to swap cryptocurrencies.

How can I delete my account?

You can delete your account at any time by making a request via Bity Support. Bity has a legal obligation to keep the data of its customers for 10 years. Therefore, if you have placed an order and it has been executed, your account can not be deleted but it will be suspended. If you do not have an executed order, your account may be deleted.

Using Bity accounts

What types of cryptocurrencies can I buy, sell or swap on bity.com?

This blog post provides a detailed explanation on the types of cryptocurrencies that you can buy, sell or swap using the Bity website: bity.com.

Do I deposit my funds at Bity?

Opening an account at Bity allows you to use our services. You do not “deposit” any of your holdings with Bity and we do not control your funds, wallets or private keys. You simply connect your wallets to your Bity account to use our services. Your cryptocurrencies remain on the wallet that you manage yourself. Bity can be seen as a simple exchange office allowing you to buy, sell and exchange different currencies.

Where is Bity Support?

You can find the support in Bity’s Dashboard. You have to register or log in and start a conversation with support at the bottom right of the page.

Who is Bity?

Bity is a public limited company under Swiss law, based in Neuchâtel. This company is audited by KPMG and has joined a self-regulatory organization (SRO), the Quality Assurance Association for Financial Services Provision (VQF), which is recognized by the Swiss Federal Audit Office of financial markets (FINMA).

Fees and prices

When is the price of cryptocurrencies set for my purchase order?

The exchange rate is determined when we process your purchase order after receiving your bank transfer.

When is the price of cryptocurrencies set for my sell order?

The exchange rate is determined after you have placed your sell order and clicked on “Next”, a payment window opens (with a countdown telling you the time you have left to complete payment of cryptocurrencies).

When is the price of cryptocurrencies set for my swap order?

The exchange rate is determined after you have placed your swap order and clicked on “Next”, a payment window opens (with a countdown telling you the time you have left to complete payment of cryptocurrencies).

What is your fee rate?

Our net purchases and sales prices are indicated in euros and in Swiss francs, all taxes included. However, when you place a buy or sell order, your bank may charge a transaction or foreign exchange fee. These will be deducted from your purchase or sale volume. Additional fees are presented for the SOFORT payment method: 0.25EUR + 0.9%.

Order restrictions and cancellation

With which fiat currencies can I buy cryptocurrency on Bity?

We accept Euros and Swiss Francs. Other currencies will be available soon.

What is the minimum amount of a purchase order?

The minimum amount per purchase order is 10 CHF.

What is the maximum amount I can buy or sell? What information should I provide?

The maximum amount you can buy or sell is determined by the amount of information submitted to Bity. Larger transactions can be made with a higher level of identification.

Level of identification: Standard

Until all your documents have been verified you can only sell or swap cryptocurrencies. You can not buy one without being verified.

  • Required information: a phone number and email address
  • Annual limit, in terms of volume: CHF 5,000.
  • Limit per transaction: CHF 5,000.

Restriction:

On this level you can only swap cryptos What is the maximum amount I can buy or sell? What information should I provide?using a public address that has been verified. It means that first you have to use this address to make a sell.

After all your documents have been verified you will be able to make a buy within the abovementioned limits.

To buy cryptos, you will need to pass through full KYC process. To do that, we require the following information:

  1. A copy of an identity card or passport, which must be signed, valid, include a readable MRZ code and contain a photograph.
  2. A recent photograph of yourself.
  3. Proof of residence less than three months old (documents accepted: Internet, landline, water, gas, electricity bills or bank statements with an IBAN or an account number). This document must contain your full name, address and have a date.
  4. The Bity registration form duly filled in and submitted.
  5. The form of the beneficial owner duly filled in and submitted.

Level of identification: Advanced

With the Advanced level you can buy, sell or swap cryptocurrencies.

Prerequisites: have all your documents verified and an order executed or a have a video session with our Compliance specialist.

Required action: You must make a purchase order with your bank account. The owner of this bank account must match your name. If you’d like, you can schedule and conduct a video session with our Compliance specialist.

Annual limit, in terms of volume: CHF 100’000.

Limit per transaction: CHF 50’000.

Swap: no limits

Level of identification: Expert

With the Expert level you can buy, sell or swap cryptocurrencies.

Prerequisites: to be at Advanced level.

Action Required: You must have an annual transaction volume greater than CHF 50’000 and ask Bity, via its Support Team, to move from the Avanced level to the Expert level. We may ask you to provide some additional information: fill out a new form or provide the proof of origin of funds used in business relationship with Bity.

Annual limit, in terms of volume: none.

Limit per transaction: CHF 500’000.

Swap: no limits

When will I receive my cryptocurrencies?

Orders are executed as soon as we receive your payment on our bank account. Note that transfers in the SEPA or CHF zone usually take 1 to 2 business days. International transfers may take longer. In case you forgot to enter the Bity reference linked to your order (bity.com XXXX-NNNX), your funds will automatically be returned.

Can I cancel my order?

Any order that has not been executed can be cancelled by selecting the order in the “History” menu and then clicking on “Cancel”. If this option is not available, please contact us as soon as possible via our Support Team by specifying the transaction reference of the order concerned.

Account levels and how they work

How can I move from Standard to Advanced?

You must make a purchase order with your bank account or a video session. The owner of this bank account must match your name.

As soon as all your documents have been received, verified, and validated, you will receive the instructions on what to do next by email.

How can I move from the Advanced level to the Expert level?

You must have an annual transaction volume greater than CHF 50’000 and ask Bity, via its Support Team, to move from the Advanced level to the Expert level.

Do I have to do a video conference?

If a video conference is required, the video call button in your Bity dashboard will be activated. Just click on the button and follow the instructions.

Documents we may request or require

Why should I be identified / verified? What information should I send to Bity?

The current Swiss regulations require Bity to identify / verify its customers (last name, first name, address, etc.) from your first purchase order or when your sales transaction volume is greater than CHF 5,000 per an. You must then download and transmit to Bity:

  • A copy of your identity card or passport: front and back. Your document must be signed, valid and contain a photograph and a readable MRZ code. We draw your attention to the fact that driving licenses and residence permits are not accepted.
  • Proof of residence. We accept the following proofs of residence: Internet, landline, water, gas, electricity bills or bank statements with an IBAN or an account number. These documents must be less than three months old and mention your name, your first name, your address.
  • Please fill in and submit the registration form online. Please make sure all the information is valid and dully completed. Invalid or missing information will cause the form to be rejected, and you will need to resubmit the form with the corrected information.
  • Please fill in and submit the form of the beneficial owner online. This form is meant to declare who the funds you use in business relationships with Bity belong to. If you use your own funds, just input your name.

Once these documents have been sent to Bity and are verified, you will be able to place an order.

How are my personal information processed?

All documents that are transmitted to Bity are encrypted and stored on our servers based in Switzerland. Any personal information is kept private and will not be disclosed to third parties, unlees required by law or consent is given.

What is proof of address / residence? What types of documents are accepted as proof of address?

Proof of Address / Residence is a document that allows Bity to ensure that you actually live at the address used in the registration form. The following documents are accepted: internet, landline, water, gas, electricity or bank statements with an IBAN or an account number. These documents must be dated less than three months and contain your full name and address.

Encounter any other problems?

I didn't receive my code by SMS. What can I do ?

Try again. After two attempts, an option will appear allowing you to receive a code via phone call.

What happens if I paid a lower or higher amount then the one that appears in my purchase order?

You will receive the equivalent of the amount you actually paid in cryptocurrencies, within the limit of your quotas and the minimum amounts to place a purchase order.

What happens if I paid a lower or higher amount then the one that appears on my sell order?

You will receive the equivalent of the amount you actually paid in foreign currency, within the limit of your quotas and the minimum amounts to place a sell order.

I placed a purchase order but did not indicate the reason for my bank payment. What are the consequences?

When you pay funds to Bity, you must indicate the reason for your payment, a reference of the type “bity.com XXXX-XXXX”, the “X” being capital letters and / or numbers. If this reference is not on the payment order, your funds will be returned to you and you will have to place a new purchase order.

I found a bug, or I want to make a suggestion

Any ideas on how to improve our service are welcome! Do not hesitate to let the Support Team know.