BitNATIONAL

Overview of BitNATIONAL

BitNATIONAL is a virtual currency exchange company based in Canada. It was founded in 2013 and operates under the regulatory authority of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). The company offers over 10 different cryptocurrencies for trading. The fees charged by BitNATIONAL vary depending on the type of transaction. Customers can make payments through bank transfers, credit/debit cards, and BitNATIONAL Gift Cards. The company provides customer support through email, live chat, and phone. Overall, BitNATIONAL provides a range of services for trading virtual currencies while adhering to regulatory requirements in Canada.

Pros and Cons

Pros Revealed:

• Wide selection of over 10 cryptocurrencies

BitNATIONAL offers a wide selection of over 10 different cryptocurrencies, providing users with a diverse range of options for trading.

• Multiple customer support options

BitNATIONAL provides multiple options for customer support, including email, live chat, and phone, allowing users to easily seek assistance and resolve any issues they may encounter.

Cons Revealed:

• Fees vary depending on transaction type

The fees charged by BitNATIONAL vary depending on the type of transaction, which can be a disadvantage for users who prefer a more transparent and consistent fee structure.

• Limited payment methods available

BitNATIONAL has limited payment methods available, potentially restricting users who prefer alternative payment options or convenience provided by additional payment methods.

Regulatory Authority

WikiBit obtains regulatory information through various channels, including official regulatory websites, public records, and direct communication. The platform's team verifies the authenticity of regulatory licenses and certifications by cross-referencing the information from multiple reputable sources.

WikiBit aims to offer reliable and accurate regulatory information to help traders make informed decisions when choosing exchange/token/project.

As of August 2023, BitNATIONAL reportedly holds an Exceeded Financial Service License from Financial Transactions and Reports Analysis Centre of Canada (FINTRAC, No.M19357695).

Security

BitNATIONAL prioritizes the security of its platform and implements various protection measures to safeguard user assets. The exchange utilizes industry-standard security protocols such as encryption to ensure the confidentiality and integrity of user data. Additionally, BitNATIONAL implements two-factor authentication (2FA) to add an extra layer of security to user accounts. The platform also employs cold storage for storing a significant portion of user funds offline, minimizing the risk of hacking and unauthorized access.

Cryptocurrencies Available

BitNATIONAL offers over 10 different cryptocurrencies for trading. These include popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and more. The availability of a wide range of cryptocurrencies allows users to diversify their portfolios and choose the assets that align with their investment strategies.

How to Open an Account？

The registration process of BitNATIONAL typically involves the following steps:

1. Visit the BitNATIONAL Support Center website and click on the “Sign Up” button to start the registration process.

2. Fill out the required information, including your email address, password, and other personal details as requested.

3. Verify your email address by clicking on the verification link sent to your registered email.

4. Provide additional verification documents, such as proof of identity and address, as required by BitNATIONAL's KYC (Know Your Customer) procedures.

5. Once your documents have been verified and approved, you will receive a confirmation that your account has been successfully registered.

6. Now you can log in to your BitNATIONAL account and start trading cryptocurrencies, subject to any further verification or funding requirements that may apply.

Fees

BitNATIONAL machines charge trading fees for buying and selling cryptocurrencies. The fees vary depending on the type of cryptocurrency being traded and the transaction size.

The fees for buying cryptocurrencies are tiered based on account verification status.

The fees for selling cryptocurrencies are tiered based on account verification status.

Payment Methods

BitNATIONAL supports several payment methods for users to deposit funds into their accounts and make withdrawals. These payment methods include bank transfers, credit/debit cards, and BitNATIONAL Gift Cards. The processing time for these payments may vary depending on the specific method chosen and the associated banking processes. It is recommended to refer to BitNATIONAL's official website or contact their customer support for more detailed information on payment processing times.

BitNATIONAL User Review

User 1:

I've used BitNATIONAL machines on holidays, converting money whenever I need, great rates, clear rules. I already invite friends to use it because it's simple! Highly recommend!

User 2:

Always use BitNATIONAL for trips away, no longer need to worry about bank fees, transfer rates and international rates.

Conclusion

In conclusion, BitNATIONAL provides a virtual currency exchange platform that offers a wide selection of over 10 different cryptocurrencies for trading, allowing users to diversify their investment portfolios. The company operates under the regulatory authority of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), ensuring compliance with regulatory requirements. BitNATIONAL also prioritizes security, implementing measures such as encryption, two-factor authentication, and cold storage for user funds. However, it is important to note that fees charged by BitNATIONAL vary depending on transaction type, and the platform has limited payment methods available. Overall, BitNATIONAL caters to a range of trading groups, but users should carefully consider their individual needs and preferences before engaging with the platform.

FAQs

Q1: Why did the daily limits change？

A1: To stay within current FinCen and AML compliance rules and regulations, we may occasionally need to adjust daily and/or monthly trade limits in order to stay within licensing guidelines.

Q2: Why is the machine pricing different than what's posted on my exchange？

A2: As a decentralized digital currency, there is no standard or global price at any given period of time. Because of this, the USD value can vary across different exchanges.

Q3: Can I cancel my transaction after I've added cash to the machine？

A3: Unfortunately not. Once cash is inserted, there's no way to stop the machine from sending it to the address scanned. For this reason, it's important to double check the coin selection and address that's displayed on the screen before adding cash.

Q4: Where Is a CryptoATM Near Me？

A4: You can locate a BitNational ATM by using the ATM location map.

Q5: Can I use a paper wallet？

A5: Yup! Our machines no longer print paper wallets, but you can send crypto to any coin-compatible wallet as long as you have a QR code the machine can read.

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities.

Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.