New York licensed bitcoin exchange itBit has announced that starting on Thursday, March 14, itBit users will start receiving maker rebates of 3 bps on all bitcoin trades. This means that traders can earn incentives when orders they have added to the order book are successfully executed.
The exchange started offering rebates for ETH orders in January and the response has been overwhelmingly positive.
All taker fees are structured in tiers based on 30-day rolling volumes. Trading volume is aggregated by fiat base currency, e.g., XBT/USD and ETH/USD trades count towards the aggregated USD tier.
To implement these and other changes, itBit will have scheduled maintenance on March 14 from 5-6 p.m. EDT (9-10 p.m. UTC). There will be downtime during the maintenance window, which will halt trading and suspend log-ins. The new fee and rebate schedule will go into effect once the deployment is completed.
“We are thrilled to be the first fiat-to-crypto exchange to bring maker rebates to all bitcoin trading as well. We’ve adjusted maker and taker rebates and fees for all XBT and ETH pairs, which continue to be the most competitive in the industry. As with our ETH rebates, all XBT maker rebates will be credited to customers’ fiat balances. As a Trust company, we are able to offer the highest level of protection possible to all customers. We are proud to offer this high level of customer service in combination with the best available rates and a deep liquidity pool.”