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itBit was established in 2012, and its headquarters are located in New York. The exchange follows the industry standards and has strict money laundering regulations. The exchange has a simple trading fee structure. When 30-day trading volume does not surpass 8000 BTC – taker fee is 0.20%, and there is no maker fee. If the trading volume is higher than 8000 BTC, discount in the fee is given. itBit charges $10 as fees for a domestic wire transfer in the US and $40 for international wire transfer. itBit also allows SWIFT deposits which charge a fee of $40 and agent fees. However, depositing SGD and BTC is free. The exchanges charge 0.20% taker fee and 0% maker fee as its trading fees. It charges special fees for the large size of trades, so it is considered a good platform if a user wants to buy a large amount of Bitcoin. itBit also offers its custodial services for which it uses 100% cold storage ensuring that the funds remain secure and they are never amalgamated with the users trading accounts. Multiple layers of security ensure that the assets are always safe. The trading platform is easy to use. The web-based exchange is optimized for mobile users, but it does not offer apps for Android and iOS.
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