itBit
- Overview
- Security
- User Experience
Volume 24H: BTC/USD $15,023,000/24h; BTC 1,871.81/24h
itBit is a Bitcoin exchange platform offering extensive trading services like over- the-counter trading and powerful API services. This platform is mostly suited for trading companies and professionals as it offers the option of a FIX, REST and Market Data API connection for high-volume trading. itBit is heavily regulated by financial authorities in the United States.
This platform is mostly suitable for big trading companies or individuals who have had previous experience with trading platforms. itBit provides special services for US-based users and institutional clients. Being heavily regulated by US authorities, it is considered safe for storing larger amounts of cryptocurrency or fiat money.
Crypto Currencies Support
- BTC
Traditional Currency Support
- USD
Language Support
- English
Country Support
- Australia
- Canada
- China
- European Union
- Hong Kong
- Japan
- Most Africa
- Most of Asia
- Most of Eastern European Union
- Most of Latin America
- Most of the Middle East
- New Zealand
- Norway
- Russian Federation
- Singapore
- Switzerland
- Turkey
- United Kingdom of Great Britain and Northern Ireland
- United States of America
Platforms Systems
- — Api
- — Web Interface
Stock Market Options
Concerning the security of this platform, itBit is regarded as being a safe exchange, heavily regulated by US authorities. Funds are stored in multi-signature wallets and itBit has developed its Bitcoin storage policy to adhere to the CryptoCurrency Security Standard (CCSS). This is the first U.S. Bitcoin exchange able to legally operate in New York State.
Summary:
| 2 Factor Authentication | Yes |
| Funds Insured | Fdic Insurance Up To 250 000 Applys To Fiat Currencies Only, Itbit Holds All Client Positions Bitcoin And Fiat As Custodian |
| Private Keys Stored On | Exchange Platform |
| Storage Type | At Least 80 Of User Funds Are Stored In Cold Storage |
This exchange was co-founded in 2012 by CEO Charles Cascarilla. itBit has offices in two key financial markets, New York and Singapore, which enables the exchange to serve global customers around the clock. In the summer of 2017, there were news reports about top management persons leaving the company for other endeavors.
Summary:
Considering the fact that the company is transparent about its cold-storage policy, offering an OTC Agency Trading Desk and asset custody services, the platform fits best the needs of institutional clients and high-volume professional traders, offering enterprise level crypto exchange services.
| Ease of use | Developed |
| Transaction Fees | 0.1-0.29% |
| Deposit/Withdrawal Fee | It's Free (fees May Be Hidden) |
| Deposit/Withdrawal Fee For Bank Transfer | 10-40usd/deposit, 0-40usd/withdrawal |
| Deposit/Withdrawal Fee For Credit Card | N/A |
| Deposit/Withdrawal Fee Charged For 3rd party Payments | N/A |
| Anonymous Trading | No |
Deposit/Withdrawal Options:
Deposit from bank account, Deposit using 3rd party, Withdrawl funds to bank account, Send/Receive Crypto
Functionality:
itBit's bitcoin trading APIs provide powerful automated trading solutions for institutions and algorithmic traders. itBit is one of the few platforms that offers digital asset exchange services and Over the Counter Trading (OTC) comprised in a single account. Also, this platform provides users with cryptocurrency asset custody services through its strict regulations agreed with US institutions.
Most common customer complaint:
— Some users have complained about slow response times from customer support.