At itBit, we are focused on security and accountability. We operate differently from other exchanges by securing 100% of our client funds in offline cold wallets. itBit client deposits cannot be remotely accessed and multiple trusted parties are required to initiate withdrawals. Our stringent security measures kept our customers safe during the widespread “transaction malleability” attacks earlier this year and have thwarted other hacking attempts aimed at bitcoin exchanges.
itBit’s comprehensive security program does have a downside in that we do not offer instantaneous withdrawals. While our clients appreciate our stance on security over withdrawal speed, we are always looking for ways to improve our service.
Introducing itBit’s New York Operations Team
As itBit’s U.S. launch draws closer, the need to better serve our global customer base increases. Today, I am happy to announce the launch of our New York Operations team! They will work in tandem with the Singapore office to provide around the clock support for all client inquiries ranging from technical issues to account servicing.
Faster Bitcoin Withdrawals
With our New York team in place, Bitcoin withdrawals will now be transacted twice daily: once during Singapore office hours (12pm SGT) and once during New York office hours (12pm EST).
*During withdrawal processing, itBit reviews each transaction and performs a suspicious activity check. As a result, some broadcasting times may be delayed. Bitcoin withdrawals are processed Monday-Friday, excluding U.S. and Singapore holidays.
We are also testing out additional withdrawal times and hope to announce these soon. The new withdrawal schedule offers itBit clients faster withdrawals backed by the same bank-level security you have come to expect from us.
If you have any questions, do not hesitate to contact us at email@example.com.
Wee Horng Ang
Senior Director, Operations