BitWallet FAQ

How Fast Do I Receive My Newly Purchased Bitcoin?

Instantly. After a successful purchase, the Bitcoin is sent immediately and will appear in your account in just seconds. Your bank will show a purchase from WYRE PAYMENTS.

What Are BitWallet’s Fees? 

BitWallet charges no fees to send and receive Bitcoin. To buy Bitcoin with a debit card, users will pay 3.49% + $0.30 which is amongst the lowest in the industry. To sell Bitcoin and receive a direct deposit in your bank account, BitWallet users pay a 1.49% fee. 

How Long Does It Take To Receive My Bank Deposit After Selling Bitcoin With BitWallet?

It generally takes 3-5 business days to receive your direct deposit but sometimes happens even faster. The deposit will show a transaction from WYRE PAYMENTS.

What Payment Methods Does BitWallet Accept?

To buy Bitcoin, BitWallet accepts debit card and Apple Pay as payment options. We will only be taking USD to start with and shortly introducing EUR/GBP/AUD as additional “source currencies.” International users do not have to have USD in their bank account to use the service. There will be a conversion done by our payment processor at the time of the transaction. To sell Bitcoin, just link your bank account and you will receive a direct deposit.

Which Countries Does BitWallet Operate In?

BitWallet’s buy and sell feature is now available in the following countries…United States, Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hong Kong, Ireland, Italy, Latvia, Lithuania, Luxembourg, Mexico, The Netherlands, New Zealand, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, and Switzerland.

Non-operational States in US

We are not able to support the states below in the United States due to licensing, but we are working on it and will support more in the near future.
  • Connecticut
  • Hawaii
  • New York
  • New Hampshire
  • Texas
  • Vermont
  • Virginia
We’re working on obtaining licenses for all states.

What Are BitWallet’s Buy Limits?

Right now, there is a $250 daily max purchase in the U.S. and $500 daily max internationally. We consider these limits to be very low and plan to have them drastically increased in the near future.

What Account Verification Is Required To Buy And Sell Bitcoin?

To buy Bitcoin the user must provide basic debit card information including name, address, and phone number. To sell Bitcoin, the user must provide basic information listed above as well as an SSN number. For large transactions, users may also be asked to upload an image of a driver’s license or passport.