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What is Bytabit?

by Alan Daniel
, What is Bytabit?
Thanks to the cryptocurrency industry’s expansion in the U.S., buying and selling digital assets in the country has never been easier. There are regulations in place for safety purposes. But even with these options, apps and exchanges have made cryptocurrency trading as simple as possible.

Due to these solutions, many can now buy and sell Bitcoin easily. And they can do so without having to learn complicated processes.

But the same cannot be said for individuals who live in other countries, where such solutions are not that accessible.

Fortunately, local solutions such as Bytabit are slowly changing this for the better.

What is Bytabit and What Does It Do?

Bytabit is a mobile cryptocurrency exchange that helps users buy Bitcoin with fiat. Based out of Malmo, Sweden, the mobile app focuses on the local market. It aims to help make cryptocurrency trading easier for those who are unable to access simpler solutions.

Gone are the days where one had to learn and invest much more time to buy Bitcoin. Thanks to Bytabit, they can now purchase their digital currency with just a few taps on their device.

Bytabit is available for both Android and iOS. It has a simple and easy to use interface, which makes cryptocurrency trading more accessible to the everyday individual.

How Does Bytabit Conduct Its Trading?

Bytabit simplifies complicated processes that are usually required by traditional exchanges. Following the example of certain U.S. exchanges, Bytabit uses simple terms to explain certain procedures to its users. This way, even the most complex processes are easier to understand, and simpler to execute. 

Since certain cryptocurrency trading procedures are quite like traditional banking, Bytabit takes advantage of this phenomenon. It has designed its buying and selling processes in a way that don’t feel any different from trading conventional assets.

Bytabit Uses Swish to Facilitate Payments

Bytabit uses Swish, a local payment processor, as its payment facilitator. 

Recognized by the Central Bank of Sweden, Swish has become one of the most popular payment services in the country. When Bytabit couples Swish with its own simple processes, it makes for a Bitcoin exchange that is as easy to use as a traditional mobile banking account.

Users could sign up with Bytabit. After going through certain verification processes, they can connect their Swish account to the app. From there, they could easily use their SEK funds to buy Bitcoin.

Bytabit does lack in the support section. It does not have a help page or knowledge base on its site. This means that traders who are looking to understand the app’s functionalities need to install it first.

More Information About the Bytabit Company

Bytabit is a project of Bytabit AB, a digital solutions provider founded in 2015.

After a few years of operating in the cryptocurrency and blockchain sector, the company recently turned towards designing its own exchange app.

Through its proposed solutions, the company aims to remove any complications from the overall process of cryptocurrency trading. It also has a great focus on security and privacy, and promises that it has built its app with those aspects in mind.

Bytabit has its headquarters in Maimo, Sweden. But it also holds offices in New York and Los Angeles in the U.S.

While the app has a long way to go, its focus on the local Swedish market sets it apart from international exchanges. This niche market could provide the small exchange the space that it needs to grow.


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