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Dec 28, 2017 Alexy Exchanges Views: 473

itBit

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450 Lexington Ave, Suite 3952, New York, NY 10017, US
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Company Name

itBit Trust Company, LLC

Date founded

Feb 28, 2013

Founder Name

itBit team

Name

itBit

Location

USA

Address

450 Lexington Ave, Suite 3952, New York, NY 10017, US

Languages

English

Risk Management Tools

yes

Copy-trading

No

Deposit methods

Bank wire

Maximum deposit

None

Maximum withdrawal

None

Minimum deposit

0.00001 BTC

Minimum withdrawal

None

Supported crypto currencies

Bitcoin, Ethereum, Litecoin

Supported fiat currencies

Euro, Singapore Dollar, United States Dollar

Two-Factor Authentication

No

Multi-factor Authentication

No

Secured By SSL

No

Windows Phone

No

Mobile version

No

24/7 Online Support

No

Contact phone

+1 (855) 997 2994

Contact email
Withdrawal methods

Bank wire

Max Leverage

No

Spreads

0.20

Demo version

No

Market
Price
Open 24H
Range 24H
Vol. 24H
% CH
Market
Type
Price
Quantity
Total
Id

Overview

Itbit is an exchange platform that approaches the legal side of issues related to similar platforms. Itbit is the first cryptocurrency exchange in the Bitcoin sector with an official license from New York.

Itbit managed to obtain legal rights to receive deposits from American citizens and invest these funds in various projects — like cryptocurrency.

Identity verification is required according to stringent legal standards.

Users will have to provide a number of required documents and confirm the address of residence. Verified users are not burdened with almost any restrictions in trading.

Itbit supports three currencies: US dollar, Euro, and Singaporean dollar. Each is paired with Bitcoin in trading.

 

Features

Fees: Itbit has specific fees tied to the total trading volume of the exchange. Information on these fees is not publicly available. Users have to contact the support team in order to know the specifics. Deposit fee is different for users from the US and non-US residents. The policy on fees is structured in such a way that non-US residents pay more substantial amounts on transactions. Deposits in Singaporean dollar and bitcoin have no fees applied.

Despite the high liquidity of currency pairs, there are a few options for trading. The only instrument is a limit order, other options are not available. Itbit doesn't allow margin trading or uncoated sales.

Interface: Navigating the site is easy. It's perfectly adapted for mobile devices both iOS and Android. The only drawback is low speed on the site, especially when working with mobile devices. This is fatal when trading cryptocurrencies -- every second count. The rates change every second, and a shortcoming in speed is very significant.

Customer Service: Customer service is good. Operators are on call around the clock. An unregistered user can fill out an application and wait for a response.

 

Conclusion

In general terms, Itbit is a serious exchange with all the necessary legal permits. Although the exchange is available for non-US residents, the high deposit fees seem unwelcoming.

Screenshots
Pros & Cons
  • Completely legalized platform
  • High liquidity
  • Excellent level of security
  • High fees for non-US residents
  • Few trading options
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