BitBay Review 2021

The Poland-established exchange introduced in 2014 by Pinewood Estonia is currently operating with more than 800,000 current users. Its head office is based out of Poland and has branch offices based in India and Netherlands. Since its commencement to date, BitBay has received distinguished awards for its digital trading interface. Let’s take a look at the BitBay review in depth.

BitBay Summary

Headquarters Estonia
Found in 2014
Native Token Yes
Listed Cryptocurrency 50
Trading Pairs 150+
Supported Fiat Currencies EUR, GBP, PLN, and USD
Supported Countries Most of All
Minimum Deposit 10 PLN / 5 EUR /5 GBP
Deposit Fees Free
Transaction Fees For BTC, ETH, & USDC Markets
Maker – 0% ,Taker – 0.1%
For Trading Pairs
Maker – (0.30% – 0.17%)
Taker – (0.43% – 0.25%)
Withdrawal Fees Depends on Currency & Payment Method
Application Yes
Customer Support Yes via Mail, Help Desk, & Submit Request Support

The cryptocurrency trading platform built the exchange operative interface for a reliant and protected functionality to trade potent exchanges of crypto networks such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).

Presently, the exchange services administer crypto trades of 1200 exchanges and above within a minute. Its yearly BTC turnover surpasses Bitcoin worth half a million. One of the powerful features of the company is its permits that render trading pursuits with the traditional fiscal, monetary exchange Polish Zloty (PL).

What Is BitBay?

BitBay is the most profitable trading platform for fiat to crypto account transactions in the European EU territory.

The company’s benefit is that users can attain the platform’s services to optimize their crypto trade through products such as accelerated payment methods on an international scale.

The trading company enhances the BitBay cash through Polygon (MATIC), Chiliz (CHZ), and Enjin (ENJ).

Since its introduction to the ecosystem of trading cryptocurrencies, the services BitBay provides have reached a level of exchanges of more than 30 currencies of fiat to crypto.

The companies leverage point is authorizing money on currency grants by providing crypto market data analysis information to BitBay users.

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How Does BitBay Work?

BitBay Wallet allows clients to purchase cryptocurrencies from international marketplaces. They provide profitable exchange rates, and the wallet does not impose additional compensation for account management operations. It has more than 30 plus FinTech tokens, and clients can sanction accelerated deposits or withdrawals.

Through the admission of a BitBay wallet account, the client gets access to currency exchanges, online and offline payments, and various withdrawal and deposit methods. It also administers a professional service BitBay Pro feature for high-level transactions.

Features of BitBay

Decentralized Uncredited Exchanges and Defi Voting

Clients can start their exchange trades that are p2p (peer-to-peer) based. These exchanges can be kept entirely anonymous. Election of personalized endowment and staking offers are available on the crypto companies’ system.

Durable Agreements

This peculiarity authorizes a full contract service so that no illicit middle man can breach the BitBay wallets of the clients. With this functionality, clients are protected from financial determinants and hackers.

Dual Deposit Escrow Service

On the trading system of BitBay, the two potent operants, the seller and buyer, can execute deposit methods to lock in similar loyalty conformity. This hallmark of BitBay makes financial shams less probable.

Cash for Coins

BitBay clients can sell and buy crypto funds or fiat currencies that are p2p established without authorization from a centralized market clearinghouse.

Foreign Spending

Time-reliant agreements for exotic spends are tendered, such as atomic trades, freezes, and switches with comfort and seamless procedures.

Wallets with Multi-Signatures

A dual and varied cryptographic encryption is provided to secure the client’s BitBay wallet to be digitally untraceable from hackers.

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Services of BitBay

BitBay Pro

This product offering has a unique trading operative that is conceptualized for professionals. The service of BitBay pro offers high-level instruments, MACD, and RSI indicators. With BitBay Pro, professional investors can customize the interface according to their trading ventures and withdrawal intentions.

Bitcantor

This platform service administers the purchase and sale of BTC, LTC, and ETH crypto tokens. Bitcantor is an offering developed for users anticipating accelerated exchanges, welcome professionalism, and efficiency. The service renders genuine crypto valuation data insights and manageable trading devices for creating a transaction. Bitcantor also possesses affiliate applicability making profitable monetary gains an easy venture. 

BitBay Pay

This innovative platform service permits clients to admit BTC as pay for digital and stable markets. The service offers manageable, swift, and protected payments executed for all industries. BitBay Pay administers more bountiful payments of 50,000 every day. With BitBay Pay, clients can tender returns globally in any marketplace.

BitBay Cash

This trading solution enables the exchange of fiat to crypto. The service allows users to acquire a voucher at a brick-and-mortar spot and retrieve it digitally. Additionally, BitBay Cash extends business assistance to vendors to join the platform’s global market network for voucher administration and benefits from voucher auctions.

BitBay Review: Pros and Cons

Pros Cons
An elite crypto trading exchange from the EU. An unregulated exchange company. 
BitBay has a host of notable cryptocurrency networks in its portfolio.  The BitBay exchange only warrants cryptocurrency funding and trade. 
A host of customer data resources for informed crypto trades.  Does not have any US-based crypto exchange clients. 
Advanced and industry-standard trading tools.  No fiat currency deposit methods. 
Reliant, well-regarded trade system for crypto exchanges.  Selected offerings are available to only Polish crypto users. 

Getting Started With BitBay Exchange

The initial step to start the trading activities on BitBay the user needs to register on the BitBay.net site. A Free Account needs to be selected where the investor renders their respective email address. This process is followed by the client producing their email address details where an activation link by BitBay is shared.

The BitBay user needs to authorize the provided activation link to complete the login procedure. The user is then made to choose a username of their preference, a protection code-PIN number for the privacy of their BitBay wallet, and a password for the login conformities. After the accurate information is provided, the customer is produced with a confirmation email by the trading website.

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Buying or Selling Cryptos with BitBay Exchange

The client needs to select the Exchange option on the platform for instant exchanges and choose the ‘Quick Transaction’ feature for accelerated trades. The amount of funds that the user wants to buy or sell is then filled in. After selecting the Buy or Sell option on the landing page, the platform’s system begins administering the order the client has chosen. In regards to Takers, compensation is imposed to make an instant exchange on the system.

BitBay Fees

The BitBay Price for trading fees is highly crucial to keep a check on before the trading process. The trading fees at BitBay are 0.43% for fiat to cryptocurrency tokens, and for makers, the trading fees are 0.30%. Regarding the trading fees for cryptocurrency to cryptocurrency exchanges, the compensation issued by BitBay is considerably more cost-effective for clients. 

In cryptocurrency to cryptocurrency exchanges, the trading fees for Takers are 0.10%, and Makers have no fees imposed on them for crypto trades. For ETH tokens, there are no trading fees charged for Takers or Makers. For USDC, the Taker trading fee is 0.1%, as for the Maker fees. The withdrawal fee for the BitBay platform is 0.0005 BTC for every BTC withdrawal actioned on the platform. This trading fee is moderate as its compensation value is lesser than the market’s aggregate. Click here for more details.

BitBay Deposit and Withdrawal Methods

In regards to Deposit options, the BitBay account gives users the ability to deposit fiat currencies. These deposits are done only through the authorization of the bank wire transfer peculiarity. The deposit characteristics through wire transfers are known as entry-level exchanges. This is an area where novice investors can administer initial steps into the enticing market of the cryptocurrency realm.

To initiate withdrawals in the BitBay exchange, users need to go to the wallet accounts feature on the site or mobile app. The cryptocurrency of the investor’s interest is selected, and the withdrawal feature is authorized. This option is followed by the amount that is desired to be acquired, and the address that the fund’s transaction needs to be sent to is mentioned.

After the address is added, the platform calculates the compensation required for the transaction. In conclusion, the Payout option must be selected with the authorization code to complete the withdrawal process.

BitBay Supported Cryptocurrencies and Countries

Regarding the trading options for transactions of crypto, the platform issues networks of 36 potent crypto coins. Some of the cryptos that offer the website permits are BTC, ETH, LTC, DASH, zCash, Bitcoin Cash (BCH), Monero (XMR), and Ripple (XRP). Cryptocurrency exchanges are authorized in major countries around the globe. Traditional fiat currencies that are permitted are EUR, GBP, PLN, and USD. However, BitBay hasn’t approved benefits for US-based crypto investors due to the lack of conformity from the Internal Revenue Service (IRS).

Furthermore, the site doesn’t permit mandates of KYC or AML, which are crucial for digital currencies internationally, leading to certain global countries leaving out their services for trading pursuits.

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BitBay Trading Platform

The BitBay trading platform has a host of trading views displayed on its system. Clients can then make an informed decision based on the data provided that would enhance their profit rewards. The platform showcases the order book, trade order history, and the price valuation graphs of the chosen crypto network. The Buy and Sell options are also displayed for investor’s accelerated exchanges.

BitBay API

The API format of BitBay is conceptualized strategically to administer users with a suitable crypto exchange interface. This API peculiarity admits a pathway for users to leverage from facilities such as retrieving data insights, service database records, and completing an array of third-party functionality transactions. BitBay API grants clients the ability to generate effective outlines for various exchanges and formulate self-governing crypto exchange platforms.

BitBay Mobile App

The mobile application of BitBay offers clients enticing features to access and support trading activities every day. Through the app, investors can do everything related to trading, such as selling, buying, and enhancing user funds. It has on the go access for bitcoins, and other crypto offers with an adaptable interface. Some of the key hallmarks of the mobile application are setting preferred currency pairs in the favorite options, selecting default fiat currency options, utilizing customizable crypto trading instruments, and tracking all BitBay wallets in real-time. The exchange BitBay platform app offers high rating trading instruments for a more adaptable experience to understand and make informed decisions on the cryptocurrency business expanse.

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BitBay Security Measures

BitBay holds the safety measures of its clients in high regard. It offers dual-factor Google authentication codes and email code conformities. The platform warrants cold storage wallets so that illegal practices and hackers can’t breach user’s wallets. Additionally, all transactions have to be sanctioned by BitBay’s team members. Furthermore, the other security protocols are hidden passwords, AML features, and exchange authorization.

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BitBay Customer Support

The site for crypto trades is accessible to customers in Polish and English for more straightforward help desk aid from the BitBay team. The site’s customer service is available through a phone all days of the week and on weekends from 8 am to 8 pm. Additionally, for a faster response rate on common questions, the clients can avail the FAQ service. For more precise and accurate assistance, the client can avail the email customer support facilities here: [email protected]

BitBay Review: Conclusion

In conclusion, the exchange review of BitBay is that it is a reliable crypto trading service. The lucrative offering the BitBay system brings to the forefront is its authorization of three varied fiat monetary values and that makes it the best digital currency exchange platform. Furthermore, The Polish crypto exchange company has an adaptable withdrawal process through the approval of the client’s debit card, which is a high-leverage point.

FAQs

Is BitBay Safe?

The exchange regards security as a paramount service of BitBay. The client’s data and FinTech records are encrypted. The digital funds of customers are stored in cold wallets (offline wallets). Due to this peculiarity of the website, third-party illicit users won’t breach the user’s fiat to crypto reserves.

How Does BitBay Work?

The access to buy and sell cryptos through BitBay can be done through fiscal exchanges such as PLN, EUR, or USD. Customers need to transfer the funds to the given exchange number. Crypto reserves are scheduled at least three times a day. For an accelerated transaction rate through the BitBay wallet, clients can directly buy or sell the FinTech coins from fiat to crypto.

How Do I Register With BitBay?

The initial process to attain a reliant and secure acquisition of cryptocurrencies is to sign-up on BitBay.net through accessing a free trading account.

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