What is itBit?
ItBit is a sophisticated platform for traders, crypto enthusiast, Bitcoin professionals and financial institutions. The company started in November 2013 with its headquarters in New York, USA. The company received its first trust charter from New York State Department of Financial Services (DFS). In 2015 May, ItBit opened its first regulated Bitcoin exchange in the US.
Features of itBit exchange
ItBit platform has some exceptional features as a crypto platform. It has an option of providing a personalized service for the financial institution and active traders along with crypto enthusiast. Thus, it is rightly called a sophisticated platform for cryptocurrency. It provides complete assistance and customer support 24*7. A user can reach ItBit through phone or email.
itBit has a very powerful Application Program Interface. It uses FIX & REST for as API’s. As far as security is concerned, ItBit provides complete asset protection to both Bitcoins saved on company servers and Fiat currency.
ItBit stores 100% currency in cold storage. This keeps the money offline thus saving it from any cyber crime. It also excludes the risk of money volatility. itBit also has DDoS protection and SSL protocol along with full encryption.
The company has strict policies regarding a user validation. It follows the guidelines of Anti-Money Laundering (AML)/Know Your Customer (KYC) to know users details well. This policy includes only those members onboard who have complete identification ID such as government Photo Identity or Address proof. It secures the community with genuine buyers and sellers.
itBit OTC Desk
The most exceptional feature of ItBit is that a user can do Bitcoin exchange and Over-the-counter (OTC) desk from a single account. For OTC trading desk, the company provides order books with depth, any personalized support that a trader would require or look for and competitive pricing.
For Bitcoin exchange, ItBit provides immense liquidity, which is an essential aspect of trading. The trading fee is extremely low and the API is strong and robust.
How to register a new account on ItBit?
In order to register for a new account, log on to www.itbit.com. Click on the tab” Open New Account”. The page shall redirect it to the registration page. The user has to choose if he is trading individually or for an institution.
The user can fill the required details such as username, email ID and create a new password. The password should be minimum 8 characters with lower case letter, upper case letter, a number and a special character. A user can then click on “I agree to T&C” and continue. A verification email goes to the registered email ID, which has to be confirmed before login.
The user can activate its Two-factor Authentication (2fa) to add an extra layer of security. In 2fa, the user can download Google authenticator and sync its account with ItBit account. The user will have to then scan the QR code of his account in authenticator to activate the 2fa. Once a user tries to log in, he receives a 6-digit code on registered number.
Once the user signs in, there are a series of personal information that has to be filled such as legal name, date of birth, complete address and phone number.
A user will also have to upload an Identity proof such as office ID card, Passport or drivers license.
Bitcoin Exchange & OTC trading
Bitcoin exchange extends its support to US Bitcoin traders with complete asset protection. There is ICG also called as Institutional client Group that provides complete assistance to the financial institution and active traders. OTC trading fee on ItBit is 0.10% and most of the transactions settle on the same day.