itBit | MyCryptoListing - Your Crypto Trading Broker

itBit

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itBit

A US financial services company, ItBit offers two main services: a Bitcoin exchange and an over-the-counter (OTC) trading desk. This is a regulated, New York City–based company that launched in 2013. Indeed, ItBit became the first regulated Bitcoin exchange in the United States in 2015. It also has an international office in Singapore. The exchange offers deep liquidity and relatively low fees, particularly for those with high trading volumes. The exchange charges a trading fee of 0.35% from takers, which is higher than the global industry average of 0.25%. This could be a disadvantage, though the exchange compensates this by paying makers 0.03%. This, in turn, increases liquidity due to the attractive fee that is paid to the makers. Fiat-crypto trading is accepted on this platform, and deposits can be made through banks transfers. However, credit cards are not accepted as a valid form of payment. Likewise, existing cryptocurrencies can be deposited to users’ accounts. USD withdrawal can be made via ACH, which is free up to $3,000 for US citizens. Anything over that amount has a $20 fee applied. The fee for an international wire transfer is $40, while SWIFT transfers are $40 plus third-party fees. Withdrawing in EUR via SEPA carries a fee of €8.14 if the amount is under €50,000. If the amount exceeds this, €70.32 is charged. As with deposits, withdrawing in SGD and BTC is free of charge. For enhanced security, itBit makes use of a two-factor authentication system (2FA) as well as DDoS protection, and funds are stored in cold wallets. There hasn’t been a significant incident of hacking on the exchange so far. Keeping in mind that the exchange has been around for a while, this suggests that itBit operates a satisfyingly secure system.

0.00%
On Page Wallet: Yes
Accepts the Following: Bitcoin Ethereum
Maker: -0.03%
Limits: 1 USD
CRYPTOS: 2
TAKER: 0.35%
Fiat Currencies: No
WIRE: Yes
CRYPTO: Yes
US ALLOWED: Yes
USER SCORE: F

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