Review on itBit by Toprak Dere
About itBit
Some cryptocurrency exchanges act as a gateway between the world's fiat currencies and the world of cryptocurrencies, while others are just places where you can exchange one cryptocurrency for another.
One of the names you may have come across while reading about crypto trading is ItBit Exchange. In this tutorial, we'll cover all aspects of itBit and help you understand if ItBit is right for you. Let's take a detailed look at this ItBit exchange review.
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ItBit is a highly reputable cryptocurrency exchange for trading Bitcoins against fiat currency. The stock market is suitable for institutional and professional investors, as they operate with high liquidity and large trades.
ItBit Exchange is now fully regulated as a bank in New York state, allowing them to offer exchange services in all 50 states.
ItBit supports three fiat currencies:
USD
Euro
Singapore dollar
The cryptocurrencies supported by ItBit can be listed below:
Bitcoin (XBT)
Bitcoin Cash (BCH)
Ethereum (ETH)
Litecoin (LTC)
Stellar Lumens (XLM)
Paxos Standard (PAX)
PAX Gold (PAXG)
Binance USD (BUSD)
All in all, itBit is a great cryptocurrency exchange for professional traders dealing with large amounts of money. The exchange platform ItBit is licensed and regulated in the United States. Therefore, investors' funds are guaranteed and ensured to be safe.
Their fees are competitive and the liquidity of the trading platform is good on all currency pairs. Ultimately, itBit is particularly attractive to those who routinely trade over 100 BTC worth or trade more than 2500 BTC per month.
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Pros
- Good liquidity and competitive fees
- High level of security
- FDIC insurance is available for all accounts
Cons
- No margin trading and short selling
- Bitcoin is the only tradable asset
- No mobile apps
