itBit was established back in 2012 as a part of Paxos – a famous financial service. Today, the itBit exchange is the first regulated cryptocurrency exchange in the USA. It’s tailored to the needs of professional and institutional traders. Let’s analyze its key features.
itBit Fees and Limits
The maker-taker principles apply here. itBit fees for takers vary between 0.06% and 0.35% based on your trading volume. Makers can get rebates – they earn 0.03% of each deal. itBit limits are not set for deposits and up to $500,000 per day for withdrawals.
Is itBit Safe?
Yes. The company is compliant with requirements for financial trading platforms in America. It has its own NMLS number. If you have extra questions about compliance, feel free to use the itBit phone number for American clients: +1 (855) 997 2994.
itBit Exchange – Q&A
The itBit review 2020 reveals all the key questions and answers related to this platform:
- How to buy on itBit? The platform offers USD/EUR/SGD and BTC/ETH cross-trading deals. You can purchase using bank transfers or crypto wallets.
- How to use itBit? You can use traditional exchange features, OTC trading, or escrow. The itBit login and interactions will vary depending on your choice.
- Is itBit legit? It’s licensed and regulated by the US authorities, as well as its parental team – Paxos. We haven’t found any itBit scam mentions.
- What is an itBit alternative? Uphold, Coinbase, and other US-regulated platforms are direct competitors of this exchange.
- Where is itBit located? The company is located in New York, the USA, including itBit support and institutional trading experts.
- Which pairs are available? As we stated in this itBit review, the platform supports BTC and ETH, as well as USD, EUR, and SGD.
- Available in all 50 states of America
- Fully regulated and safe; no itBit fraud cases
- Has high liquidity, according to itBit reviews
- Professional trading features like OTC
- Top-notch security; no itBit down issues
- Supports fiat currencies
- A few crypto assets: BTC and ETH only
- Regulated by the USA government only
- No mobile trading or short orders
- Complicated for newcomers