bitssaAn isle of man registered bitcoin exchange

About BITSSA

BITSSA is a crypto currency exchange for the emerging world. Almost exclusively focused on giving the over two thirds of the world's population who reside in exotic currency markets an opportunity to buy, sell, and hold the world's most liquid crypto currencies. BITSSA is registered and based in the United Kingdom with offices in London, and with oversight from the Isle of Man, BITSSA brings to bear world class standards of product innovation, compliance, and security for assets stored on its platform.

What is Bitcoin?

Bitcoin is a Peer to Peer, Open Source, Decentralized currency. It has a limited supply of 21 million bitcoins ever to be in existence and it is divisible down to 8 decimal places. It’s decentralization means it is not controlled or owned by any individual, company, organization or government. Bitcoin relies on strong cryptography to protect users funds and is pseudo anonymous by nature. Bitcoin can be sent anywhere in the world, instantly and enables efficient cross border trade with low to no fees (the Bitcoin network has an option 0.0001 BTC fee) with very low barrier to entry- anyone can use it.

Bitcoin is changing money the same way the internet changed data. Anyone in the world can send money, a store of value, to anyone else in the world without any entities permission other than yourself. The protocol is open for all to verify and contribute to or to build new innovative applications on top of.

How Does BITSSA Work

BITSSA is a trading platform for the purchase and sale of Bitcoins. The platform permits only spot transactions which are fully funded by trading participants through funds deposited by the participants on the platform. For example, if a trader deposits $100.00 into her account on the platform, she may then purchase $100.00 worth of bitcoins in a spot transaction. Purchases and sales of bitcoins on the platform, are settled by actual delivery of the full amount of the bitcoins by the seller to the purchaser’s account against payment in full by the purchaser to the seller’s account.

Verification

  • What is Verification

Verification adds additional integrity to your account, and is a requirement of our registration as a U.K Bitcoin Trading Company. With verification, we gather the necessary data to protect your assets stored on the exchange as well as enable you to increase deposit and withdrawal limits.

In short, it's a process that allows us to meet our obligations to you the customer and the wider financial landscape, by getting to know our users better

  • How do I get verified

Immediately after sign-up you will be directed to the first step in the verification process which is where we validate your e-mail. This is considered level 1 and provides you with a bitcoin address or wallet where you can send and receive bitcoins.

If you wish to deposit funds to buy bitcoins or withdraw proceeds of bitcoins you have sold you will need additional verification which will be done under your profile page

  • What do I need for Verification

To get verified you’ll need to upload a valid photo ID such as a national ID, driver’s license or passport, and a proof of address document (no older than three months) which clearly shows your name address. We will then notify you when the verification process is complete (typically less than a week)

  • My verification is on hold what should I do?

If a document you’ve submitted doesn’t check out or is deemed invalid, you’ll be given the opportunity to submit a different document. You’ll be notified via e-mail and your verification will be placed on hold until the issue is rectified.

  • My verification has failed, what should I do?

If for some reason, you cannot be verified on the platform, such as due to regional restrictions, you will be notified via e-mail. You should contact the support team via [email protected]determine if the rejection is valid and we’ll explore your options from there.

How Do I Withdraw money from my BITSSA account

Once you’ve sold Bitcoin, its value in local currency is placed in your balance. We have given you a number of options to enable you have access to your funds. You can withdraw via a bank transfer or if you are in Nigeria you can also withdraw if you have a Cellulant mobile money wallet.

In order to withdraw via bank transfer please ensure youridentity has been verifiedand yourbank account is linkedto your BITSSA profile in order to request a withdrawal.

  • How Do I link my Bank Account?

To add your bank account, follow these steps:

Go to MENU > FUNDS

Then go to your local currency icon and select WITHDRAW

Select Manage Withdraw

Enter your bank details as requested and hit ADD BANK ACCOUNT

Please note that you can only withdraw to an account that matches the name listed on your account. If you add a different account, it will not be allowed and your account risks being suspended

Withdrawals via Cellulant mobile phone wallet, will require your Cellulant phone number (which must match the number used to set up your account ) and your Cellulant 4 digit PIN.

How long until my withdrawal is processed

Withdrawals are processed seven days a week, usual processing times are 1-4 hours depending on the volume and bank destination.

How Do I add money to my BITSSA account

To deposit into your account, follow these steps:

Go to MENU > FUNDS

Then go to your local currency icon and select Deposit

Under each of the tabs provided, please follow the steps outlined

How long until my deposit is processed

Deposits sent from debit or credit cards via Cellulant are processed seven days a week and will usually be credited to your account within 1-4 hours of a successful deposit.

Deposits sent via conventional bank transfers are processed during business hours 8am GMT- 5pm GMT M-F. Depending on the speed of your bank it might take up to 2 business days for it to reflect in our records. Please ensure that all information is entered correct and you have included the transaction reference. All incoming wires must originate from a bank account belonging to your verified name (or company).

How much does it cost to use BITSSA?

We strive to be as open and transparent as possible but do need to charge a nominal fee for transactions to cover cost of operations

Depositing Money: We do not charge any fees for deposits made via bank transfer or Cellulant mobile wallets. Deposits made via debit cards will incur a 1.5% fee on the total amount deposited

Withdrawing Money: We charge NGN 200 for withdrawals less than NGN 10 million in value.

Deposits and Withdrawals in Bitcoin: A nominal fee is assessed based on network and mining charges

Trading Fees: The BITSSA Exchange follows a maker-taker model, with market makers (adding depth and liquidity) paying no fees and market takers paying a nominal fee of 1%

I’d like to report a bug. Who do I contact?

You can send us an e-mail with details of your find to either [email protected] or you can open a ticket. Opening a ticket is found by highlighting your user ID in the top right corner of the site and selecting “TICKETS” from the menu choices that appear under your ID.

What about Trust and Security?

This is one of our core principles, and we address it in a few ways.

1) Our commitment to Open Source software. Many of our projects rely on Open Source software where the code is freely available to audit. So please, don’t take our word it, it’s open for all to see. We also actively contribute to these projects to give back to the community. In our projects that are closed we are committed to third party auditing and certification to give you the peace of mind you expect.

2) We adhere to the highest industry standards when we store our users details and funds. This includes cold storage, user credentials hashed and salted, encrypted databases and backups and much more.