Bit2C

Bit2C Exchange

Bit2C, launched in 2013, is a centralized crypto exchange based in Holon, Israel. It was a pioneer for Hebrew-speaking traders, offering trading in New Israeli Shekel (NIS) alongside cryptocurrencies like Bitcoin, Litecoin, Bitcoin Cash, and Bitcoin Gold. It’s been marked as inactive since around 2023 due to low activity and insufficient data, so it’s not a go-to option anymore.

What Made It Unique

• Local Focus: First exchange to support Hebrew and trade BTC/NIS, catering to Israeli users with bank wire deposits and withdrawals in NIS.
• Coin Selection: Offered 4 main coins (BTC, LTC, BCH, BTG) with 2 active pairs (BTC/NIS, LTC/NIS) by its later days, appealing to local crypto enthusiasts.
• Security Setup: Used Norton Secured SSL encryption and Google 2FA, claiming 90% cold storage, though details were sparse.
• Simple Platform: Provided a basic web-based trading view with an order book and price history, designed for ease of use for beginners.
• No Extra Fees on Deposits: Incoming NIS transfers via bank wire were free, though banks might charge separately.

Things to Keep in Mind

• Inactive Status: Labeled as “inactive” by multiple sources due to dropping volume (e.g., $216,529.67 in 24h recently) and lack of updates, making it unreliable now.
• High Fees: Switched to a 3.0% taker and 2.5% maker fee model in September 2022, far above the 0.25% industry average, which hurt its appeal.
• Restricted Access: Limited to Israeli users with local bank accounts; no support for U.S. investors or international fiat like USD/EUR.
• Verification Required: Mandatory ID verification (Israeli ID with appendix) to comply with anti-money laundering laws, reducing anonymity.
• Liquidity Issues: Low trading volume and thin markets, especially for non-BTC pairs, suggested poor liquidity toward the end.