itBit Expands Daily Withdrawal Limit to $50k for Retail, $100k for Institutions

The old adage ‘The customer is always right’ was once again proven to be true at leading New York bitcoin exchange company, itBit. Responding to traders’ requests, it is expanding its daily and monthly withdrawal limits, effective immediately.

Retail customers now have the potential to withdraw up to $50,0000 – an increase of 333% from the previous $15,000 limit, with monthly limits remaining at $300,000.

Institutions, on the other hand, have seen an even greater rise of 667% to their daily withdrawal maximum – now set at $100,000, and a 333% boost to monthly withdrawal limit – now at $1,000,000.

These new exchange caps are available to all itBit customers who have Two Factor Authentication enabled.

itBit is a global bitcoin exchange for traders and retail investors with headquarters in New York and an international office in Singapore. The first to apply for a New York BitLicense, become a trust company and receive a charter from the New York State Department of Financial Services. The firm has raised around $28.3 million in venture capital since 2013.