Bits of Gold () is not really a payment processor but claims to be the largest crypto broker in Israel. The company states that it has more than 50,000 customers, including private investors, high-tech companies, financial companies, and other organizations within and outside the financial industry. The operator is Bits of Gold Ltd in Tel Aviv-Jaffa. Youval Rouach (LinkedIn) is one of the founders and the CEO of the company.

However, Bits of Gold handles FIAT-to-crypto payments for partners such as crypto broker StormGain (www.stormgain.com) Therefore, we also list Bits of Gold as a high-risk payment processor.

So far, we have not discovered Bits of Gold in any scam or cybercrime venture and therefore list the company in our “Green Compliance Light” list.

News

In September 2022 Bits of Gold has become the first local exchange to obtain a license from the Capital Markets Authority.

The license gives Bits of Gold the leeway to offer custodial services to its users through its “Bits of Gold wallet.”

Conclusion

We could not find any complaints around the company but Due to the current tense crypto industry, we downgrade all crypto companies to ORANGE for an undetermined period of time.