Paris-based Bitit launches to let you buy Bitcoins from 100,000 physical stores

[Pkzone]

Seems awesome, gotta check what stuff it's showing us.

[DimensionZ]

Buying Bitcoins the Bitit way is great for people who don't want to use their credit cards online to buy the crypto out of caution. But the $25 limit without documentation is kinda low if you ask me. What if I need around $60 to buy a game on Steam with Bitcoins for example. Can I just enter 3 different stores to take advantage of this so I don't give out my identity? I guess so.

[Kingno.1]

Launch of so many physical stores for purchase of bitcoin sounds amazing.
I hope we could have some of them in India too.

[Wendigo]

The idea of having the chance to buy Bitcoin at physical stores anonymously sounds great and I had a look at the map with the store locations on the Bitit website but unfortunately the selection is very, very limited. The most shops are in France understandably and there are some more only in countries in Western Europe like Spain and the UK but nothing for the rest of Europe. For example I saw only 1 shop in Germany wow. Anyways I think as this project matures further they will add a lot more stores to buy from later on. An interesting feature I saw on their website is the cashback where you get 1 point for every 1€ that you spend and you can exchange 100 points for a free 1€ on your next purchase. Not much but hey every bit helps right?  

[alyssa85]

Buying Bitcoins the Bitit way is great for people who don't want to use their credit cards online to buy the crypto out of caution. But the $25 limit without documentation is kinda low if you ask me. What if I need around $60 to buy a game on Steam with Bitcoins for example. Can I just enter 3 different stores to take advantage of this so I don't give out my identity? I guess so.

I think they said their algo tracks users and credit cards - so you can probably do three purchases over several days and they'll let you if they don't then get a dispute filed with the credit card.

Honestly, the only way I see around this is Bitcoin ATMs that accept cold hard cash. That way there can be no dispute and no fraud and people can buy as much as they want as long as they pay cash. Sadly no-one seems to have developed a cash BTC ATM.

[Slowturtleinc]

Anything that brings us closer to the masses is a good thing,the information needed is a bit off putting though.
Hopefully this is just to get in the game and they will drop that after getting bigger. You can look at it as a way
to control over exposure till they get bigger,instead of complying data on their customers.
The whole idea of running into a gas station and grabbing a bitcoin giftcard is a idea more people would be interested in.
All you need to do is look at how successful vanilla credit cards where for poker before they got restricted.