Since Bitit’s inception, our aim has been to build the easiest bridge between the worlds of fiat and cryptocurrency while maintaining a highly secure and trustworthy environment for our customers.
Over the years, we’ve been confronted with many challenges, but the big one was: Do we build a crypto wallet on top of the Bitit brokerage platform, or do we build a non-custodial platform?
We’ve always been impressed with the power of the blockchain technology, where anyone can become their own bank simply by having a smartphone, without the need for any third parties.
Taking this into account, we wanted to go further and help our customers to become their own bank, always being in control of their own private key.
That’s why we’ve built a non-custodial platform, which means that upon confirmation of your payment we send the crypto-assets directly to your personal wallet.
With Bitit, you can now connect your hardware wallet, buy more than 32 crypto-assets and have them delivered directly to your Ledger Nano S or Trezor One.
Today we are happy to announce that Bitit now combines the best of centralized and decentralized solutions. Our customers get double the benefit: they can store their private keys offline, on their Ledger Nano S or Trezor One, and still use Bitit for buying & exchanging crypto-assets.
Now, we know that Bitit’s being non-custodial can be a bit of a pain in the ass for a first-time customer who wishes to access Bitcoin easily. Why? Because they first need to create their own personal wallet go through some not-really-user-friendly security steps. Still, it’s important to understand that this is the price to pay if you want to be in full control of your money. Convenience over security? Ok, but don’t forget one thing: If it’s not your keys, it’s not your crypto. Essentially, with a centralized cryptocurrency exchange you don’t own your private keys, as customers give away the control over their crypto and private keys to the exchanges.
No counterparty risk
You are fully in charge of your crypto-assets, since you own the corresponding private keys. You are solely responsible for keeping your crypto-assets and access to them secure. The Bitit team has no way to access your crypto-assets, passwords, or private keys.
How do you connect your Ledger Nano S to Bitit?
To have your crypto directly delivered to your Ledger Nano S, please follow these steps:
- Connect your device to your computer (only USB is supported) and unlock it, then select the corresponding crypto asset you want to receive.
- Go to the Wallet section on Bitit, choose your crypto and click on “Use your Ledger Nano…” to start synchronising your device.
- Select your device on the browser pop-up.
- A new page opens on Bitit; follow the instructions, enter a label name for your address, then save.
- The address generated by your Ledger Nano S is now saved and ready to use on Bitit.
To see how to connect your Trezor One, please refer to our FAQ here.
Our team is super excited about this new feature as it will give you full autonomy and opens a secure way of buying, exchanging and storing your crypto-assets.
From Paris with Love,
The Bitit Team