Since launching in 2013, the itBit team has strived to push the boundaries of sophistication in bitcoin trading. In May 2015, we obtained a trust company charter and opened the first regulated bitcoin exchange in the U.S. Today, we stand alone as the only company in the cryptocurrency space that offers bitcoin traders access to both a global exchange and OTC trading desk.
ItBit is a well-secured exchange with two-factor authentication on login. Each login triggers an automatic email with login time and IP address to prevent any hacks. It uses third-party security with multiple layer DDoS protection, making it a tough cookie to crack for the hackers.
All customer funds are kept in cold storage, which is verified by the New York Department of Financial Services. Finally, itBit offers FDIC insurance on all fiat balances owned by US clients which go up to $250,000.
The exchange hasn’t been hacked until now. They don’t use PGP encryption in emails.
The best thing about itBit is that it is a regulated and strict cryptocurrency exchange. It takes rules, regulations and security very seriously and this is a very good thing.
However, those who wish to remain anonymous or register and start trading quickly, should go elsewhere and look for exchanges that do not have such strict and lengthy verification requirements. Those who have nothing to hide, though, would be absolutely fine with itBit.
A plus of itBit is the offering of special services and lower fees for the large traders.
What we do not like about this exchange is the fact that it does not accept credit and debit cards as payment. This, as we said, is not very convenient for a number of reasons.
Another minus of itBit is the fact that it does not offer other cryptocurrencies, besides Bitcoin. For those interested in trading in more than one or another altcoin, most exchanges have a somewhat larger selection. There are also platforms like Bisq and LiteBit who have a pretty big portfolio.
|Rank||Site||Margin trading||Fiat||Safety||API||Referral||Location||Languages||Buy with||User Vote||Score|
|1||A||San Francisco, USA||EN||bank transfer, card|
|3||A||No||Hong Kong||EN||EUR, USD|
|4||No||A||Europe||EN, CZ, SK||USD, EUR|
|5||A||No||San Francisco, California, United States||EN||USD, EUR, JPY, CAD|