Bitaccess.co is a Canadian cryptocurency operation, focused on making it easy for the public to buy and sell bitcoins. Indeed, even as Bitcoin is slowly but surely attaining mainstream status (at least in certain ways) its mass adoption is hindered by the lack of accessibility. It is not exactly a simple, straightforward and quick process to buy and sell bitcoins these days, unless one happens to be in Canada, a country thoroughly “filled up” with various solutions in this regard, by Bitaccess.co.
The legitimacy of this operation is unquestionable. Some of its services have already permeated various aspects of Canadian society to such a degree, that one can only think of it all as an example for the rest of the world, crypto use-wise. Besides crypto solutions for the retail user, Bitaccess also provides various services aimed at corporate partners.
What Exactly Does Bitaccess Offer?
Founded in 2013, it only took Bitaccess 4 years to turn Canada into the “BTM Capital of the World.” Indeed, the privately held company, based in Ottawa, Ontario, Canada, is best known as the world’s leading producer of BTMs (Bitcoin Automatic Teller Machines), and its stated goal is to make such machines ubiquitous world-over.
The website of the operation provides a detailed view of the locations where Bitaccess have such BTMs running, as well as thorough descriptions of the auxiliary services the company offers.
Through Bitaccess.co, people can buy Bitcoin for cash, in just a handful of simple steps. There are three buyer tiers supported, the most basic one of which only requires a phone number for ID purposes (and yes, non-Canadian SIMs are supported as well). Through this tier, users can buy up to $200 worth of BTC per day. To grab more through the instant purchase feature, buyers need to provide additional identification. The second tier, which raises the limit to $1,000, requires a full address in addition to one’s full name, email and phone number.
The third tier raises the limit to $2,000 and it adds Photo ID to the identification requirements. This photo ID can be a scan of an actual document, or a selfie.
Those looking to purchase bitcoins through this service, will obviously need a wallet, and they will need to physically locate one of the BTMs of the service provider. Those for whom physically accessing a BTM is not an option, can resort to Bitaccess’ Flexepin voucher, which lets them purchase BTCs from no fewer than 6,000 Canadian gas stations, convenience stores and other locations. Bitaccess.co offers a detailed map of Flexepin-supporting businesses all though the country. The Voucher scheme only works within Canada though.
The buyer can simply walk into a Flexepin-supporting store, buy a voucher (for $20, $50, $100, $250, $300 or $500), and then redeem the voucher (which is essentially a receipt) at the Bitaccess.co website.
Billpay offers another solution for Bitcoin buyers in the US. Available at over 1,000 locations throughout the US, Billpay requires buyers to create an account at Bitaccess.co, and then to pay their Bitaccess invoices at any of the Billpay points. Once the payment is made, the cryptos are delivered in seconds.
Bitaccess’ BTM-coverage of Canada is good, and the network has already spread into the US and Europe, too. Though the actual machines are still few and far between, they all buy as well as sell BTC, giving users a one-stop-shop solution for all their crypto-to-fiat and fiat-to-crypto needs.
When it comes to selling BTC, people expect to be saddled with massive waiting times. Generally speaking, the selling of BTC is considered to be quite cumbersome, but it does not have to be. Bitaccess Cash lets users sell their BTCs remotely. Just how does that work?
Users can send an amount of BTCs to the BTM of their choice, after which they receive a redeem code when the transaction is confirmed. They can then head to the said BTM with that code and redeem it for cash.
Bitaccess’ Enterprise Products
The enterprise products offered by Bitaccess cover an enterprise wallet, created for high performance use, Catena, a smart contract-based blockchain suite, designed to aid with the publishing of complex datasets onto blockchains (public or private), specialized KYC software and smart contracts. BTM software is also part of the Bitaccess enterprise package.
Should I Trust Bitaccess.co?
There can only be one answer to that: yes.
Red Flags and Question Marks
There are none whatsoever, at least none that we heard of/read about.
Obviously, the BTM coverage could be much better in countries outside Canada, but this drawback isn’t one of much substance, given the incipient nature of the whole scene. In addition to that, Bitaccess do in fact aim to vastly expand that coverage in the future.
At Ripoffreport someone from Palo Alto, California, posted a complaint some time ago. Written in poor English, the complaint calls the operation a scam and a fraud. Due rebuttal was posted. Apparently, the person who posted the complaint had attempted to extort money from the operator, through a clumsy blackmail scheme.
Complaints regarding the exchange rates used by Bitaccess’ machines have been registered at Reddit and some bitcointalk.org users have complained of delayed transactions.
Bitaccess Review Conclusion
Bitaccess.co is definitely a solid and legitimate operation. Its prices may not be to everyone’s liking and sometimes delays may occur with transactions, apparently…With all that though, the network of BTMs the operator has managed to set up over such a short time-span is palpable testimony regarding its dedication and intentions. Many of these BTMs are already firing on all cylinders, generating daily transaction volumes in excess of $10,000.