itBit Review

Payment Methods Accepted

Traders can funds accounts via wire transfer. itBit charges no deposit fees. Fees charged by your bank may apply.

Supported Countries

itBit supports customers around the globe in most countries. Texas is the only U.S. state not supported.

• Payment Methods Accepted
• Supported Countries
• Limits & Liquidity
• Privacy
• Speed
• Reputation
• Fees
• Customer Support

Limits & Liquidity

itBit provides two services: a global Bitcoin exchange and an OTC trading desk. Neither service limits the amount of bitcoins that can be traded assuming proper verification has been submitted.

itBit’s OTC trading desk trades between 15,000 - 25,000 XBT per month. The average OTC trade size is around ~350 bitcoins and made at or below spot price.

More information on itBit’s OTC trading can be found here.

Privacy

U.S. residents can complete identity verification using itBit’s Knowledge Based Authentication, which does not require ID scans.

Users outside the United States must provide ID scans and proof of residence documents.

Speed

International accounts may take 1-3 days to become verified. US customers may be able to verify faster using itBit’s knowledge-based authentication system.

Deposits made via wire transfer can take anywhere from 1-3 days to arrive depending on your bank.

Purchases can be made instantly once an account has been verified and successfully funded.

Reputation

itBit was the first Bitcoin exchange to receive a charter from the New York State Department of Financial Services. The charter gives it the ability to operate legally in all 50 U.S. states. As a licensed exchange, itBit is audited regularly and follows all consumer protection laws.

Fees

itBit charges just a 0.2% taker fee on its global exchange.

A flat 0.1% fee is charged on the OTC trading desk, but trades are often executed at or below spot price.

Customer Support

itBit offers global phone support 24 hours a day, Monday through Friday. Its US office can be reached at (855)-997-2994.

Support is also available through email at help@itbit.com or via Whatsapp at (+65) 8428 3877.