What is Buy Bitcoin?
Buy Bitcoin lets you buy bitcoin instantly using a bank transfer (ACH). When you buy bitcoin instantly, Coinbits will credit your account immediately. Then, cash is withdrawn from your bank account, which usually takes a few days to clear.
Is there a limit to how much bitcoin can be purchased using Buy Bitcoin?
Your daily purchase limit depends on your history with us, and generally increases over time.
If the cash transfer from your payment method fails to clear, we will debit the purchased bitcoin from your Coinbits account.
After purchase, how long before the bitcoin can be cashed out or send out of Coinbits?
Bitcoin is locked in your account for a number of days before you are able to cash it out or send it out of Coinbits. When you are a new customer, this hold is 14 days long. Once the transaction is processed (usually 1-2 business days), your bitcoin is locked in your account for 14 days before you can cash it out or send it out of Coinbits. This holding period is necessary to secure Coinbits and ensure bad actors cannot abuse our platform.