Back

BitLicense

BitLicense is a business license issued by the New York State Department of Financial Services (NYDFS) that is required for companies that engage in virtual currency business activity, such as buying, selling, or handling virtual currencies. BitLicense was created in 2015 in response to the growing use of virtual currencies, such as Bitcoin, and is designed to regulate and oversee the virtual currency industry in New York.

To obtain a BitLicense, a company must apply to the NYDFS and meet certain requirements, including maintaining capital and liquidity standards, implementing anti-money laundering and cybersecurity policies, and conducting background checks on employees. Companies that fail to comply with the requirements of a BitLicense can face significant fines and other penalties.

BitLicense has been controversial since its inception, with some critics arguing that it is overly burdensome and could stifle innovation in the virtual currency industry. Others have argued that it is necessary to protect consumers and ensure the integrity of the virtual currency market.

Overall, BitLicense is a regulatory framework that is specific to the state of New York and is designed to oversee and regulate the virtual currency industry. It is important for companies that engage in virtual currency business activity in New York to understand and comply with the requirements of a BitLicense in order to avoid fines and other penalties.

Try Today For Free

Transform your trading experience with HyperTrader. Say goodbye to slow terminals, multiple windows, excessive clicks, and delayed data. Sign up and start using our platform in under 10 minutes to unlock your full potential.

HyperTrader app is distributed by HyperTrader Global Ltd, a Seychelles IBC and wholly-owned subsidiary of HyperTrader Inc., a Delaware C-corporation.

HyperTrader is not a broker or exchange. We do not provide any brokerage or advisory services. HyperTrader provides tools for trading, and any loss due to the use of the tools is the users’ responsibility. This is not an offer, solicitation of an offer or advice to buy or sell securities or cryptocurrencies or open a brokerage account or cryptocurrency account. Investment in cryptocurrencies is subject to market risks. All the non-HyperTrader brand names and logos mentioned on this website are the property of their respective owners. HyperTrader is a registered trademark of HyperTrader Inc.

Conditional orders have increased risk due to their reliance on trigger processing, market data, and other internal and external systems like an exchange. Such orders are not sent to the market until specified conditions are met. During that time, system outages with downstream technologies or exchanges may occur. Furthermore, exchanges may impose controls on conditional orders to limit erroneous trades triggering downstream orders. HyperTrader or its subsidiaries may not always be aware of such changes to external controls immediately, leading to some conditional orders not being executed. As such, you need to monitor your conditional orders for reasonability. Conditional orders are “Not Held” orders whose execution instructions are on a best-efforts basis upon being triggered.

Furthermore, conditional orders may be subject to the increased risks of stop orders and market orders outlined above. Given the increased potential risk of using conditional orders, you agree that HyperTrader and its subsidiaries cannot be held responsible for losses, damages, or missed opportunity costs associated with market data problems, systems issues, and user errors, among other factors. By using conditional orders, you understand and accept the risks outlined above.

You should know that using or granting any third-party access to your account information or placing transactions in your account at your direction is solely at your risk. HyperTrader does not warrant against loss of use or any direct, indirect, or consequential damages or losses to you caused by your assent expressed or implied, to a third party accessing your account or information, including access provided through any other third-party apps, systems, or sites.

All investments involve risk, and the past performance of a security or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against the loss, in a down market. There is always the potential of losing money when you invest in securities or other financial products. Investors should consider their investment objectives and risks carefully before investing.

Cryptocurrency is highly speculative in nature, and involves a high degree of risks, such as volatile market price swings, market manipulation, flash crashes, and cybersecurity risks. Cryptocurrency is not regulated or is lightly regulated in most countries. Cryptocurrency trading can lead to significant, immediate, and permanent loss of financial value. You should have appropriate knowledge and experience before engaging in cryptocurrency trading.

We improve our products and advertising by using analytics tools to see how you use our website. By using our site, you agree that we and our analytics partners can collect and use this data. Our privacy policy has more details.