BitFils is a startup based out of Kuwait and comprised of three engineers who worked for over a year to make this project happen. BitFils is a website that allows people in Kuwait to instantly purchase Bitcoins by paying directly with their Knet cards. If you’re interested in getting Bitcoin I can’t imagine a more user-friendly way. Check out their website [Here]
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62 replies on “BitFils, the easiest way to buy Bitcoins in Kuwait”
whoa @ the exchange rate.
On the website, 1Bitcoin is almost KD 15 more than the official rate.
@Lolguy : Thanks for the info. Saved me the trouble of checking.
Your are correct, there is a premium. The alternative would be to sign-up for an exchange. Then wire the amount via your bank account, and purchase your Bitcoins. The fees that may, or may not apply are:
* Currency conversion rate (from KWD to X)
* Receiving bank fee
* If there is an intermediary bank, it would take a fee
* The exchange usually takes a trade fee
* Some exchanges take a fiat deposit fee (regardless of the amount)
* Some exchanges also take a Bitcoin withdrawal fee
There are services that allow you to purchase with a credit card. A lot of them have issues with cards from Kuwait, or the issuing bank might block it.
We think, as the market matures, these fees and premiums will come down when start-ups scale. Our primary objective at this point is to simplify the process and package the complexity in a simple premium.
Pretty sure people can buy bitcoins using paypal through some services, can they not?
Late reply, Definitely not, if they purchase bitcoin through paypal, there is a high-risk of charge back that the buyer would do, which really ruins the security of bitcoin
What about selling bitcoins?
I don’t think there’s an “official” rate for Bitcoin, depends on the exchange.
https://www.xe.com/currencyconverter/convert/?Amount=1&From=XBT&To=KWD
There is an official rate, just that not all banks treat it as a regular currency.
I think they add a premium fee for their service.
Yeah guys, its about 14 or 15 KD above the international market, which is like a 50 dollar difference.
I highly suggest using an American or European exchange service if you want to buy bitcoins. Their tougher regulations give peace of mind.
commission is from 10-15 % WOW!!!
If you want to test Bitcoin and buy a small amount it is actually cheaper than the exchanges, between the exchange rate and the deposit fees it goes up 20% not to mention the hassle of doing a wire transfer through a bank or Western union and waiting a few days.
If I were to use it, it would be for small or fast buys.
Are people actually using Bitcoins? What for? The price fluctation is really extreme and there are all sorts of nightmare stories of massive exchanges just suddenly dissappearing and not honoring the BC they were about to cash out. Just seems very unsafe at the moment.
Yup, MT. Gox. I personally would not take such a risk.
You can now add Bitstamp to the mix.
Right now the main reason to buy is for trading and speculation, Bitcoin as a technology is a game changer technology it will probably be as big as email or twitter if not bigger.
Although you can buy almost anything with Bitcoin now https://spendabit.co compared to last year.
You’re really comparing email to twitter?
Email changed the way we communicate, twitter changed the way public figures or media communicate to masses.
Both technologies that obsoleted other services like regular mail and live reporting/events.
I’m sure cryptocurrency is gonna be huge but at the moment I would rather not go to buy something and discover my itunes balance is suddenly $50 less than I thought it was
I’ve always thought of bitcoins as just another internet fad. Am I wrong?
yup same here.
Nope. Idea of BTC is great but there are people who trying to scam people with BTC payments because there is no way to track down. BTC itself as currency/technology is one of the most safe system in the world.
So it’s safe as long as everyone is honest? LOL.
1. “BitFils is a startup based out of Kuwait”
It’s impossible to sign contract with KNET if your company (or branch) is not based in Kuwait.
2. “comprised of three engineers who worked for over a year to make this project happen”
Over a year for what? For one page website with extremly easy to integrate KNET gateway? No help, faq, about or any other page.
3. I try different BTC addresses but website keeps saying “BTC Address not valid”
I’m not party pooper or something but it’s will be great if BTC exchange service will allow you to enter BTC address to pay for their service 🙂
Thank you for your feedback. The reason it took this long was making sure we were on solid legal ground.
In Kuwait, there are three entities that can potentially cover such business activities:
(1) Capital Markets Authority
(2) Central Bank of Kuwait
(3) Ministry of Commerce
To begin with, Bitcoin regulations are still evolving around the world. A lot of explaining had to be done to a lot of people to get the correct guidance.
After that was done, obtaining any license in Kuwait takes a few months (has nothing to do with Bitcoin)
Implementing the site was actually the fastest part. However, the fact that it is a single page was intentional. Alternatives would make you jump through hoops for something that was supposed to simplify finance, not complicate it.
In addition, there are safeguards that protect against abuse.
Kindly send us the address that you are having problems with in the Contact Form, and we’ll be glad to help.
Thank you for reply. I know how hard is it to get business license in Kuwait.
I checked it and problem with BTC addresses is character limitation. Your script is checking BTC address by it’s length and if address is less then 34 characters it’s automatically considered as wrong address. You have to edit your script to allow BTC addresses from 26 to 35 characters long.
“A Bitcoin address, or simply address, is an identifier of 26-35 alphanumeric characters, beginning with the number 1 or 3, that represents a possible destination for a Bitcoin payment.”
Thank you for your feedback. The reason it took this long was making sure we were on solid legal ground.
In Kuwait, there are three entities that can potentially cover such business activities:
(1) Capital Markets Authority
(2) Central Bank of Kuwait
(3) Ministry of Commerce
To begin with, Bitcoin regulations are still evolving around the world. A lot of explaining had to be done to a lot of people to get the correct guidance.
After that was done, obtaining any license in Kuwait takes a few months (has nothing to do with Bitcoin)
Implementing the site was actually the fastest part. However, the fact that it is a single page was intentional. Alternatives would make you jump through hoops for something that was supposed to simplify finance, not complicate it.
In addition, there are safeguards that protect against abuse.
Kindly send us the address that you are having problems with in the “Contact Form”, and we’ll be glad to help.
What Is Bitcoin?
Long story short, a “Ledger” and a “Currency”. Cannot separate one from the other.
For further reading: https://bitcoin.org/ar/faq
been doin it for years.
just go to localbitcoins.com and pay with westren union or whatever you prefer.
you should get yours coins in minutes and at the cheapest exchange rate available on the market.
actually if you got money saved up … buy at least 2000kd+++++++++++++
learn how to keep and save them properly …thank me in a few years when you turn them into serious money.
Yay, Ordering candy online has become much easier!
I’ve been with Bitstamp for a year now & I’m very happy with their service including how they dealt with the recent incident. My coins are safe there.
NBK charges 5 KD for money transfer + 4 fils/$, which is still lower than BitFils’ uplift.
Mark,
Did you buy any back when you posted this? Take a look at the current price of bitcoin.
Nope didnt
Crypto market is doing great. Does anyone know if Bitfils imposes a weekly or monthly limit on users buying bitcoins?
****update****
Please do not spend money on Bitfils.com right away. the company do not reply to either emails or calls be aware . Bitfils Location is Ireland.
Bitfils information:
Website: bitfils.com
Title: BitFils
Domain Age: 4 Years, 145 Days
Last Refreshed: Just now
Website Speed: Average
Website Value: $508.11
Organisation: Contact Privacy Inc. Customer 0134695491
Owner: Contact Privacy Inc. Customer 0134695491
Owner Address: 96 Mowat Ave
Owner City: Toronto
Owner Postcode: M6K 3M1
Phone Number: +1.4165385457 [Canada]
Phone Type: geographic :Toronto Bell Canada
Email: [Canada]
Owner Country : Hidden [Unknown]
Website Location : Ireland [Ireland]
I agree, for a website with such potential, it has let me down. It took more than two weeks to get me verified, and they do not reply to any emails. I assume they are either swamped with work or they sold their website to a bigger entity in Ireland or Canada and therefore the new owners don’t bother replying to emails. I have been using Bitoasis.net based in Dubai for almost 4 months now and I am very comfortable with them. Transaction fees range between 4-7% and their UI is very clean and friendly
They replied to me and I am trying to find out is it’s possible to pay in cash .. I don’t want to get scammed if they do not have bank accounts in Kuwait then ur done
If u are worried about scamming, try bitoasis.net, they dont accept kney but they do accept visa and mastercard, and i can say ive purchased bitcoin from them close to a dozen different times, all have gone through without a single fault and ive transferred all the bitcoins safely to my own wallet and to Bittrex
I am trying to buy from them but I need to add a deposit amount to see how much they get . they did not mention their fees
At times of lower bitcoin volume, their fees are averaged around 5%. It went up to around 7% during high volume times. Only paying by credit card you encounter the fees, however if you send money through a wire transfer you don’t get charged any fees by Bitoasis, only bank transfer fees.
Not to mention Bitfils fees range between 10-20%, too heavy
a new reply from Bitfils.. and I quote “We do not accept cash payments and the rate is shown on Bitfils. there are no fees you pay wxactly what is shown” Ha
let me give you and example :
main exchanges
1 bitcoin = 1,348.30 Kuwaiti Dinar = 4,455.48 US Dollar
Bitfils:
1 bitcoin = 1503.594 Kuwaiti Dinar = 4,968.633 US Dollar
No fees ? No fees ?
I advise you to check :
Paxful.com
VirWoX (accepts Paypal)
Being the only legal bitcoin exchange in Kuwait, they are doing like any other monopoly would do, they are addig fees at insane rates. Something a bit more extreme is happening in countries facing inflation like Zimbabwe and Venezuela, where bitcoins are reaching prices up to $13,000
in that case I better buy it from others with less fees
My goodness ya’all suddenly hyped on bitcoins after 2 years?
Now is the winter of your discontent 🍫 The crypto market is booming now, my son, i am disappoint, in you, believe in the Doge
Done with bitoasis its a super hard to buy bitcoins from them then almost saying whats your pant size am done
Bro I can very easily buy bitcoin for you through bitoasis, feel free to contact me at 99790616
So what’s the easiest way to sell Bitcoin in Kuwait? For people asking about buying, i think it’s too late )
It is never too late 🤙 Bitcoin is going to correct and pullback to a cheaper price soon. I personally use Bitoasis.net as one of my main exhcnages to buy new Bitcoin. Feel free to contact me at 99790616 and I would gladly be of any help you require. The more people are encouraged to join the crypto market, the better it is for the future of this technology
Hi.. ive been trying to use bitosis but it only accepts wite transfes
Nice to hear that u are using bitoasis.Did you ever tired selling some?.how long it takes to reach the bank for u?.
I tried cashing out through bitoasis last week, said it needed 7 business days, still waiting on that deposit into my bank account
Has anyone used them? Are they legit? Are their rates still crazy after 2 years passing by? They were promising that their rates are going to go down when they settle down ..
I was thinking of creating my own bitcoin exchange in Kuwait, you guys think I should proceed with that?
Not an easy task, but power to you i recommend you do, if u can drop the fees below bitfils significantly, and offer a new way for people to buy and sell bitcoins. The more competition the easier this market will be accepted in the middle east👍
Am officially starting mining next month with 30TH/s
Are you still planning on building an exchange?
I am monthly customer of Bitfils since more then 5 months. It was going amazing but this they never response me. I am tried of trying to buy it.
What’s going on. I fill the form they have provided but it didn’t work at all.
15 kd you say? Well this article aged beautifully.