View source for ICBIT

ICBIT is a universal trading platform which has a few sections. Right now, the [[currency exchange]] is live and futures market is in closed testing stage.

This exchange is said to be founded by Fireball and [[DeepBit]] by combining best practices in high-performance trading and Bitcoin experience.

Technically ICBIT is not an exchanges since it does not act as a central counterparty.  [https://icbit.se/margincall According to their website] users are fully exposed to counterparty risk from other traders whose identities are concealed from them.  Traders are not allowed to conduct background checks of any kind on these anonymous counterparties.

== Features ==
For its currency exchange section ICBIT makes an accent on the following:
* State-of-the-art technologies usage. Instead of using old, slow, polling-based algorithms ICBIT builds atop of the most up to date technologies. Its web trading client is in pure HTML and JavaScript (even compatible with most mobile devices), however it's fully realtime thanks to websockets and AJAX.
* Speed of trading. Bitcoin forum is full of anger against slowness of existing exchanges. ICBIT implements special high performance trading engine and uses high-performance "no SQL" database to eliminate the problem.
* No limits. Most of the existing exchanges put rather restrictive limitations and require users to prove their identity. ICBIT finds this totally unacceptable and does not put any limits at all.
* "Specialize on what you do best". For handling fiat money ICBIT partnered with [[AurumXchange]] which provides an unmatched set of depositing/withdrawal services for US dollars and other currencies.

== History ==
First mentions of ICBIT appeared in June and July 2011 in the Bitcoin Stock Exchange Security Standards thread at bitcointalk.org<ref>[https://bitcointalk.org/index.php?topic=20377.msg319099#msg319099 Bitcoin Stock Exchange Security Standards thread]</ref> and Bitcoin futures market discussion <ref>[https://bitcointalk.org/index.php?topic=15818.msg250391#msg250391 Fireball's statement about ongoing futures exchange work]</ref>. By that time a very first version of the trading engine was developed.

A more detailed thread specific to ICBIT futures market was started <ref>[https://bitcointalk.org/index.php?topic=50817.msg605807#msg605807 ICBIT derivatives market thread]</ref> in November, 2011. The first closed test of futures market was performed, and work on the new version of web trading client was started.

Finally in January, 2012 the currency exchange section went live <ref>[https://bitcointalk.org/index.php?topic=60548.0 Bitcointalk announcement of a new exchange live testing]</ref>

==See Also==

* [[Buying bitcoins]]
* [[Selling bitcoins]]

== External Links ==
* [https://icbit.se ICBIT] website.
* [https://icbit.se/WebTrade/ Trading client] Direct link to the web trading client logon.

== References ==
<references />

[[Category:Exchanges]]
[[Category:Stock_Exchanges]]
[[Category:Bonds_Markets]]
[[Category:Futures_Exchanges]]
[[Category:Investing]]