Cubits isn’t a cryptocurrency exchange in the sense of a dedicated trading venue, but rather an entry-level service established in 2014. To fully understand Cubits, you have to imagine combining a bitcoin wallet, a bitcoin buying and selling service, coupled with a bitcoin business solutions service. The bitcoin wallet acts as an additional secure layer for storing and transferring your bitcoin. The bitcoin buying and selling service allows you to buy and sell bitcoin quickly and easily with a wide range of payment options and currencies.

Cubits supports wide range of convenient payment methods: credit cards, bank transfers (SEPA included), Rapid Transfer, Sofort, OK Pay, Dotpay, Skrill, and Neteller. The bitcoin business solutions service allows the Cubits API algorithm to accept bitcoin payment online by plugging it into the shopping cart feature.

Cubits is available in every country in the world, except the US. However, the features available will vary depending on your location. Cubits cannot verify your identity, will not allow all payment options and will only offer a transfer limit of EUR150 equivalent per day. Cubits ensures that extra security measures are taken to protect your funds that exceed current industry standards. 100% of user funds are held in cold storage, while all hot funds at any time belong to Cubits, which means you can simultaneously access bitcoin as needed.

All you have to do to get started is create an account at Cubits. Enter your chosen email address and password and choose your preferred currency. The expertly-designed interface makes Cubits even easier than using traditional online banking. Use your bank account or credit cards to buy or sell Bitcoin. You need to verify via IDnow, which has the highest security standards. You simply need to hold up your ID into the camera to verify your identity. Once the verification process is completed, you can directly click on “Buy Bitcoin” and manually choose the amount of BTC you want to purchase.

Like everything, there are some drawbacks to using Cubits but the pros far outweigh them. The fees, charged by Cubits are their major downside. The company charges a fixed fee of 0.9% on buy and sell operations, which is significantly higher than the average. The trading fees at most crypto-exchanges amount to 0.15% - 0.25% per trade. Cubits does not offer margin trading. Its interface is user-friendly, but lacks any professional features.