|
Title: Would day trading on itBit be a good idea? Post by: EndTheFed321 on May 27, 2015, 05:49:26 PM I have been looking at itBit but I am not sure if it would be good to use it as it looks like some ex banksters are involved with it that could be a bad thing but I could be wrong, so I am considering itBit as a way to trade my 3 btc to increase my bitcoin.
would like to know what the BTC community on this forum think about itBit. Or is there a better platform to trade btc in at this time. Title: Re: Would day trading on itBit be a good idea? Post by: Amph on May 27, 2015, 07:00:18 PM is this a new exchange? never heard of it, it look alright, nothing fishy, the front is professional, but if it is like bitstamp that they require id even for tiny amount, then tnx but no tnx
Title: Re: Would day trading on itBit be a good idea? Post by: EndTheFed321 on May 27, 2015, 07:03:26 PM How they describe themselves: itBit is a global bitcoin exchange offering institutional and retail investors a powerful platform to buy and sell bitcoin.
By combining Silicon Valley innovation with Wall Street expertise, itBit is building next-gen digital currency products and services. As a pioneer in bitcoin technology and regulatory compliance, our core mission is to provide clients with a trusted institutional-grade exchange that operates at the highest level of sophistication. Our team’s financial expertise combined with our passion for the transformative power of bitcoin creates a culture focused on innovating the financial technologies of the future. How they describe their product/innovation: itBit offers an institutional-grade exchange that is available to traders around the world. Our innovative platform, created for retail and institutional clients, adheres to the strictest levels of regulatory compliance and recently became the first and only regulated exchange that can accept customers across the US. The exchange supports both REST API and the Financial Information Exchange (FIX) protocols to serve sophisticated traders. Website: itbit.com Blog: itbit.com/blog Twitter: @itbit HQ: New York, NY Founded: 2012 Product Demoed: itBit Bitcoin Trading Platform Product Launch: April 2015 Metrics: 32 employees. Thousands of customers around the world use the exchange, from large financial institutions to major bitcoin merchant processors to individual enthusiasts. To date, the company has raised more than $30M in funding. Presenters: Charles Cascarilla (Co-founder, CEO), Bobby Cho (Director, Institutional Client Group (ICG)) Key Executives Charles Cascarilla (CEO & Co-Founder) Key Board Members Sheila C. Bair (Former FDIC Chairman), Senator Bill Bradley, Robert H. Herz (former FASB Chairman) Key Investors RRE Ventures, Canaan Partners, Liberty City Ventures, Jay W. Jordan II and Raptor Capital Management chairman James Pallotta Key Customers Institutional and retail traders Contacts: Bus. Dev.: Bobby Cho, Director of Institutional Client Group, bcho@itbit.com Press: press@itbit.com I found this on Youtubes https://youtu.be/siGe-Stbhdg Title: Re: Would day trading on itBit be a good idea? Post by: Amph on May 28, 2015, 05:53:42 AM i suspect that they are not euro friendly, because there is no sepa, seeing how they are located in HQ, unless their bank is in europe
Title: Re: Would day trading on itBit be a good idea? Post by: EndTheFed321 on May 28, 2015, 07:38:53 AM Being that itBit`s Head Quarters is New York, NY and don`t think it`s a bank but more of a trust maybe that is why it is not Euro friendly that is a large market that company should consider. thanks for your input Amph I am still interested with trading btc still undecided if I should go with itBit or not :-\
Title: Re: Would day trading on itBit be a good idea? Post by: Nrcewker on May 28, 2015, 08:49:50 AM you can do it.. but there are more better choices.
itbit trading fee is a bit high, and the deposit fee is also not cheap. more, its fiat withdrawals only once a day and btc withdrawals just twice a day. if you like daytrade, I would suggest you to
end, the more exchanges you can see: https://bitcointalk.org/index.php?topic=695082.0 Title: Re: Would day trading on itBit be a good idea? Post by: Nrcewker on May 28, 2015, 08:55:37 AM i suspect that they are not euro friendly, because there is no sepa, seeing how they are located in HQ, unless their bank is in europe itbit has sepa, people not use it not for this but its bad service (high fee and less withdral processing) you could see this thread https://bitcointalk.org/index.php?topic=695082.0 may help for you Title: Re: Would day trading on itBit be a good idea? Post by: randy8777 on May 28, 2015, 10:27:59 AM day trading on exchanges with fees is a waste of time if there is no volume like now. on chinese exchanges it's different. they mostly don't charge you anything for trades. there you can make profit even when there is barely any worthy volume.
Title: Re: Would day trading on itBit be a good idea? Post by: zetaray on May 28, 2015, 10:42:21 AM I hear that Chinese exchanges offer very low or no fees. If you are day trading, best to go there instead. But I think wiring money out would be a problem.
Title: Re: Would day trading on itBit be a good idea? Post by: EndTheFed321 on May 28, 2015, 04:17:04 PM wow, so many exchanges thanks for the information guys 8)
Title: Re: Would day trading on itBit be a good idea? Post by: bounst on May 29, 2015, 06:10:02 AM I trade at Lakebtc now, for it's quite liquidity and lower fee (I can just to be maker only, no taker :) ), and the fast withdrawal reponse.
Title: Re: Would day trading on itBit be a good idea? Post by: Amph on May 29, 2015, 11:53:34 AM wow, so many exchanges thanks for the information guys 8) yeah but only the first five are good, the other are bad for whatever reason like fee, not good at responding or not fast enough, they are not scammer but still it advisable to choose only from the top 5 Title: Re: Would day trading on itBit be a good idea? Post by: EndTheFed321 on May 30, 2015, 06:37:37 PM only the first 5 itBit does not even make the top 5. Is that because it`s regulated?
or the high fees? Title: Re: Would day trading on itBit be a good idea? Post by: Amph on May 31, 2015, 07:08:48 AM only the first 5 itBit does not even make the top 5. Is that because it`s regulated? or the high fees? they are all regualted in the top five, it must be for a bad reputation of fees and support, like it was said above, an maybe slow sepa or transfer wire in general |