450 Lexington Ave, Suite 3952, New York, NY 10017, US
Bitcoin, Ethereum, Litecoin
Euro, Singapore Dollar, United States Dollar
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.
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.
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.