LiteBit made crypto accessible to European beginners, but could not keep pace with competition and regulatory pressure. It is closed. Former users should verify their Bitvavo migration; new users can go directly to an active MiCA authorised exchange.
LiteBit is closed. The Dutch broker announced in May 2023 that it would cease operating because of market conditions, increased competition and regulatory pressure. The Dutch competition authority later approved the transfer of its customer base to Bitvavo.
Bitvavo- MiCA regulated European crypto exchange
- Low trading fees, 0.15% to 0.25%
- 453+ cryptocurrencies available
- Instant deposits with SEPA, Bancontact and Wero
- Easy to use app and web platform
- Earn up to 15% staking rewards
LiteBit- LiteBit fully discontinued its crypto brokerage services in 2023
- Bitvavo acquired the customer base and eligible balances
- Bitvavo remains active and holds a MiCA licence
BitvavoAffiliate link. Note: investing is risky. You can lose part or all of your deposit.
LiteBit review summary
LiteBit launched in 2013 and made buying crypto with European payment methods easy for beginners. It also provided hosted wallets for many assets.
Convenience came at a price. LiteBit described average costs of roughly 2%, mostly embedded in its quoted buy and sell prices. Lower cost order book exchanges gradually became more attractive.
Eligible crypto and euro balances could move to Bitvavo during the 2023 wind-down. Transaction history did not move with the balance.
Pros
- Orderly closure without bankruptcy
- Eligible balances could transfer to Bitvavo
- Customers had time to sell or withdraw themselves
Cons
- No active brokerage service since 2023
- No app, wallets or trading
- Historical costs around 2% were high
- Bitvavo did not support every LiteBit asset
- Transaction history was not transferred automatically
- Old registration links and offers are obsolete
Why did LiteBit close?
LiteBit cited competition, market developments and rising regulatory pressure. This was an orderly closure rather than a bankruptcy.
Its old DNB registration does not amount to a current MiCA authorisation. Statements saying LiteBit is still a registered and active safe broker are obsolete.
What can a former customer do?
- Check whether the old balance is already in a Bitvavo account.
- Request a new migration link through the official Bitvavo page if necessary.
- Use a Bitvavo account with matching identity details.
- Email litebit@bitvavo.com when the accounts do not match.
- Request old transaction records separately.
- Keep statements for tax and source-of-funds checks.
Historical LiteBit fees
LiteBit acted as a broker and included a service margin in its price. The average was stated as about 2%, although the actual difference varied by asset, order and market conditions.
Payment and withdrawal charges could apply on top. These numbers are no longer current because LiteBit executes no transactions.
Fees and costs
LiteBit has no current trading fees. Historical amounts document the former service only. Current Bitvavo fees apply to migrated or new Bitvavo accounts.
Key events in 2023
| Date | Event | Outcome |
|---|---|---|
| 23 May 2023 | Closure announced | Transfer to Bitvavo proposed |
| 16 June 2023 | ACM approval | Customer base could be acquired |
| 14 June to 14 August | Migration period | Eligible balances could move to Bitvavo |
| 14 August 2023 | Service ended | Remaining accounts entered wind-down |
LiteBit or Bitvavo?
LiteBit is no longer an option. Bitvavo is active, holds an AFM MiCA authorisation and offers a larger selection with lower trading fees.
Bitvavo was also the official migration partner. Former users should not pay an unknown recovery service to access an old LiteBit balance.
Compare exchange fees
| Exchange | Effective fee |
|---|---|
| OKX | 0.080% ★ |
| Bybit EU | 0.225% ★ |
| Bitvavo | 0.250% |
| Coinbase | 1.490% |
| Kraken | 1.500% |
| Crypto.com | 2.400% ★ |
| Bitpanda | 2.490% |
| BTC Direct | 3.000% |
★ Effective fees include our exclusive offers where available. Fees are indicative, check the exchange for current rates.
Historical platform and records
LiteBit identified its customers and linked verified bank accounts. Small differences in identity details could block an automatic migration and require manual support.
Only the balance moved to Bitvavo. Purchase prices and the full transaction history remained separate, so former users should retain any exported records.
LiteBit experiences
Customers valued the simple app and European payment options. High spreads, market interruptions and limited fee transparency were common disadvantages.
The organised transfer was preferable to a sudden closure without a successor, but a discontinued platform cannot be recommended today.
Conclusion of our LiteBit review
LiteBit ended its services in 2023. Its customer base and eligible balances moved to Bitvavo, while the LiteBit app, wallets and trading platform closed.
New users can skip LiteBit entirely. Former customers should confirm their migration and preserve their transaction history.
LiteBit reviews
No reviews in English yet.
Latest LiteBit news
The latest news will appear here soon.