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itBit Trust Review

The itBit Trust has a list of board of directors from the former chairman of the Federal Deposit Insurance Corporation to a former U.S. senator. Money from this exchange is held in banks in the United States. This exchange is global, uses levels of security that are multiple and offers 24-hour customer support.

Along with the ability to buy and sell bitcoins, you get technical support, reports and insight from industry, analysis of trading and other information to help you decide how you want to proceed in the market. The inclusion of market data displayed in real time lets you decide quickly whether or not to make a transaction. This is a trust company stationed in New York, and it has seen large investments made in its future. Because of its designation as a trust, it can operate in all states in the United States. FDIC insurance covers deposits, so those interested in using a bitcoin service may consider this a positive feature.

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This exchange has separate taker and maker fees to buy and sell bitcoins. Takers pay from 0.35 to 0.50 percent per transaction. The more transactions you make, the lower the fee until it reaches 0.35. Makers trade without commission and can earn credits for future trading. It charges no fee for deposits or withdrawals, only on trades. Customers who use this exchange receive year-end tax forms, monthly statements and quarterly statements of losses and gains. One possible downside is that you can't speak to a live person if you have a question or a problem with your account. Contact support is through email and submission of a ticket.

Currencies accepted are U.S. and Singapore dollars and the euro. The only cryptocurrency handled is bitcoin. This may be a consideration for those who are looking to buy, sell and trade in other types of cryptocurrencies. The trading volume of bitcoins in this exchange is in the thousands per 24-hour period.

This exchange to buy bitcoins uses a suite of APIs that are the same as those used by NASDAQ, Jumio and Thomson Reuters, to protect your transactions in multiple ways. It uses a third-party cyber security and cold storage along with layers of DDoS attack mitigation, which makes would make this exchange difficult for hackers to get into because of the multiple security measures.

The itBit Trust is an exchange where you can buy and sell bitcoins using U.S. or Singapore dollars or euros. FDIC covers funds placed in banks using this exchange and security measures are higher than most other exchanges.

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