Review on itBit by Sudais Quadri
What ItBit entails.....
With the provision of amazing liquidity to trade on, ItBit exchange is a US launched cryptocurrency exchange that allows for the trading, exchange and buying of cryptocurrencies and assets. This exchange is a globally accepted exchange and is even regulated, this makes it a trustworthy exchange.Personal Encounter: When I got to know about this exchange I decided to give it a try in order to understand it better, Registration was a very stressful process, I was told to upload a copy of my Passport ID and a recent bill. After I had done that, I has to wait for another 8 days before I was finally verified, this is actually discouraging for the fact that this exchange is a from United States of America. After I was verified, I proceeded to funding my account, I was provided with two options this was either a wired bank transfer and by cryptocurrencies. I opted for the bank transfer as it was more convenient for me and even for any new investor. While I was trading on this exchange I noticed the fees charged, the fees charged here was quite above the normal fees I had been seeing in other exchanges. The web layout is actually impressive and easy to navigate though the page often redirected me to another page which was not related to this exchange(I eventually enabled my ad-blocker before the issue stopped). It was amazing to see that an exchange which charged a relatively high fees still managed to offer one of the best liquidity among the cryptocurrency exchanges in the United states of America. The coins traded here are not even up to 10(10 is actually just the number of cryptocurrencies a standard exchange will support) as they trade only Bitcoin, Ethereum and the Pax Gold Token. The website is very interactive and comprehensible enough for any type of trader. The security on this exchange is very optimal, as it employs the use of the two factor authentication system and even ensure that users fund are stored in offline wallet and cold storages. I'm still in the course of using this exchange, I hope to update my review as time goes by.
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Pros
- This exchange is very liquid
- The web layout is well designed
- With the use of two factor authentic, users can safely secure their funds
- This exchange can be used in almost any nation of the world
Cons
- The fees charged here are relatively high
- The time taken to verify users is very long
- The exchange doesnt support much cryptocurrencies
