BitTheBank Review – All The Risks You Are Taking With BitTheBank
BitTheBank Review – All The Risks You Are Taking With BitTheBank

BitTheBank company operates from Estonia since 2017. The official ownership belongs to Lipan Services OU. But this company seems to own some other entities that offer financial services.

Is this company legitimate and if you can trust them, find in this unbiased BitTheBank Review. But also, don’t skip our RaceOption review for some more financial activities and news.

Regulated By: No regulations
Is This Company Safe? No
Known Websites:
Have Warnings From: N/A
Registered In: Estonia
Operating Since: 2017
Trading Platforms: Proprietary exchange
Maximum Leverage: N/A
Minimum Deposit: N/A
Deposit Bonus: N/A
Trading Assets: Cryptos
Free Demo Account: Not Available
How To  Withdraw From This Company?
Since the company is unregulated and it’s involved in suspicious activities, some of those under investigation, we suggest you get all the money out. If you find an issue, you can contact our refund team for assistance.

Legal Info: Is BitTheBank Legit Or A Scam?

BitTheBank, as a crypto exchange, found its nest in Estonia. The official regulator there is the FI (Finantsinspektioon). However, Lipan Services OU is not on their list of registered entities. Also, the company is not in any other Tier 1 regulatory database, such as FCA, BaFin or ASIC.

Instead, they are involved in BaFin investigation. It looks like the company was operating as the payment provider for some scam companies.

Who Are BitTheBank’s Victims?

BitTheBank exchange was used as the third-party payment provider. With the limited traceability of crypto transfers, it is a great solution for scammers. But even without that, the company is not operating genuinely. Their victims mostly come from: 

  • United Kingdom
  • Germany
  • Italy
  • Canada
  • Portugal

If you had any experience with this exchange, feel free to share it with us. Ultimately, our expert refund team can advise you on how to get your money back.

Traders Reviews

Another warning sign about the BitTheBank scam is its reviews. Firstly, it’s surprising that there are only 6 comments on Trustpilot. Yet, all of them are negative ones. That tells you enough about this company.

In case you experience any irregularities with this company, let us know. After all, by understanding your problem, we might offer you a solution.

Investment Costs With BitTheBank

With very few details available on the company’s website, it’s lucky they have presented fees. Maker and taker fees are fixed at 0.1% while conversion fees are 3%. Yet, all these might be changed since the company is not licensed.


As a matter of fact, welcome bonuses are not available with BitTheBank. Generally, some exchanges promote bonus offers to attract investors into the crypto world. But here, you have only what you invest.

BitTheBank Trading Features

BitTheBank crypto exchange offers very poor information about its services. It seems they offer only a few crypto assets. Also, they don’t offer trusted mobile app as the wallet.

Is BitTheBank Legit?

Definitely not. The company is obviously involved in scamming activities. They are operating without a license and trusted mobile app. On top of that, they are mysterious about general features and conditions.

Available Trading Assets

As can be seen, the company offers only 3 coins. For an exchange that claims to be exponentially growing, that’s quite a poor offer. Anyway, you can choose only: 

  • Bitcoin
  • Ethereum
  • Litecoin

Account Types

In the case of BitTheBank, all investors get the same conditions. In general, crypto exchanges offer various levels to motivate investors to trade or invest more. Yet, with this company that’s not the case.

Mobile Trading App

As mentioned, the company doesn’t offer any iOS or Android mobile app. This is a huge warning sign and even a dealbreaker for some investors. But don’t let that trick you. Some companies offer way more transparent options, yet they scam you. Such as the StockCore scam broker.

Demo Account

Unfortunately, the company doesn’t present transparency in its exchange platform. Also, it’s strange that the company doesn’t even offer the option to register. So, only existent users that are lured through fishing ads can use their platform. That tells you enough about their legitimacy.


From a company that is completely mysterious about its services, you can’t expect much. Especially not to educate you properly about their business. For that reason, we are not surprised they don’t offer any educational program.

BitTheBank Withdrawal

Based on reviews, low transparency and missing regulations, you realize that withdrawal issues are guaranteed. Also, in their T&Cs they state that the company has the right to decline or stop any withdrawals.

That’s in the cases where traders don’t provide all the documents or authorities are making such a request. But all these could be also fake statements to prevent you from getting any of your funds.

Customer Support

BitTheBank support is available only on workdays between 9 AM – 9 PM (GMT). But most likely only when you want to deposit the money. You can try reaching them out via e-mail, phone number or web form.

Key Information To Consider About BitTheBank?

In the first place, there’s an ongoing investigation where BitTheBank might be involved. In fact, their owner already is. On top of that, they currently operate without a license and a transparent exchange platform. Not to mention 100% of negative reviews.

To avoid any headaches with these scammers, the best solution is to stay with licensed companies. Thus, we were all sometimes caught in a scam. The most important thing is to get y our money back if possible. Luckily, our professional team is equipped with CipherTrace. This software can track cryptos if you didn’t know. Therefore, there’s no time to waste. Get in touch today, to find out more!

FAQ Section

What is BitTheBank?

BitTheBank company is a shady Estonian crypto exchange offering crypto payment services since 2017.

Is BitTheBank Legit?

No. The company operates without a license. On top of that, the ownership company is involved in scam activities.

How Does BitTheBank Work?

They are fishing for new customers through social networks. Once you deposit money, you can’t get it out. Unless you get help from our refund team. Contact us today.


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