Bittylicious is a third party exchange that allows users to buy cryptocurrency with fiat money.

The exchange targets the UK market, meaning that Pound Sterling is the default currency.

If you’re from the UK and thinking about buying cryptocurrencies with Bittylicious, be sure to read our comprehensive review. We’ll discuss everything from payment methods, fees, supported coins, and more.

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If you’re in a rush and don’t quite have the time to read our review in full, then we concluded by noting that we cannot endorse Bittylicious. The main reason for this is that Bittylicious exchange rates are really bad, they operate in an unregulated manner, and there is no ability to short coins or apply leverage. Instead, we prefer heavily regulated exchanges like Coinbase, who allow you to long and short 15 cryptocurrencies, fees are super low, and the platform is really easy to use.

What is Bittylicious?

Bittylicious is a UK-based cryptocurrency exchange that allows users to buy and sell a small range of digital coins. Although the platform was first launched in 2013, Bittylicious is still not regulated by any notable bodies.

The Bittylicious website is very basic, which makes it super easy to buy coins if you’re a beginner. Although Bittylicious focus heavily on the UK market, they also accept payments from other countries too.

Bittylicious makes their money by adding their fees within the offered exchange rate.

How does Bittylicious Work?

Bittylicious is quite different from other leading exchanges such as Coinbase, as they act more like a third-party escrow provider. When you buy crypto at Bittylicious, you enter the amount that you want to purchase, and the rate is pre-defined for you.

Bittylicious then matches you with a registered broker, who will then deposit the coins into the Bittylicious escrow wallet. Once the broker confirms that you have deposited funds directly into their account, Bittylicious will then release the coins into private Bitcoin wallets.

This is actually a really inefficient process, as you need to wait for the broker to confirm that your payment has been received. Obviously, if you are using a bank wire, you might need to wait up to 5 working days before the funds actually arrive. Some brokers do allow you to use a debit or credit card, however, this is only available in certain countries.

As soon as the purchase is complete and the coins have been released, that’s the end of the transaction. This means that you cannot actually engage in day trading at Bittylicious, meaning that the platform is best suited for long-term investments.