itBit

itBit

  • United States of America

  • Full trading platform

  • Itbit.com

  • Since 2018

itBit
In Social Media:
Developed Ease of use,  Enough secure,  Anonymously trading

Volume 24H: $8,457,677

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

Traditional Currency Support

  • US Dollar (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

  • Web Interface
  • API

Partners and integrated software

  • MyNXT

Stock Market Options

Interface
customisation:

  • Allows customization of charts
  • Allows the movement or resizing of boxes
  • Allows customized alerts and notifications

Advanced
Options:

  • Limit Order

Discounts For
The Big Traders:

  • No Maker fees

itBit security levels are exceptionally high. They offer 2FA and a withdrawal white list option. They use an elastic multi-stage wallet strategy ensuring that 80-90% of funds are kept offline and secure. Also, for withdrawals, users are required to pass an enhanced verification process providing proof of the validity of their identification documents.

Summary:

2 Factor Authentication
Yes
Funds Insured
FDIC insurance up to $250 000 (Apply's 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

Advanced Security Features:

  • Email reports of logins
  • Monitor bahavior patterns for suspicious activity
  • Limit amount of daily withdrawls

Security Features:

  • SSL
  • Protection from DDoS attackes
  • Regular Auditing Programs

Legal Registration or Compliance:

  • FinCen registration (US)
  • Payment Institution Liscense
  • KYC/AML Compliant
  • Trust Company

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 c 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
Yes

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.