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95.0%
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Last update 11.12.2019 02:10
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Why select a famous European exchange Bitbay

BitBay review

Bitbay is a famous crypto venue in Europe. It is the biggest and the oldest service of digital cash exchange. Bitbay coins list includes the most traded coins such as BTC, LTC, BCC, Dash, LSK and others. The coins are  exchanged to Euro, American dollar and Polish fiat money as the resource was founded in Poland. Thus, Polish zloty is the basic Bitbay currency, along with EUR and USD.
It is simple to start an account on the website. The registration procedure is simple and does not take long. The verification procedure is not required when you want to register.

Bitbay exchange functions as a standard service to convert crypto to fiats and vice versa. The company started working in 2014 and gradually has grown into the largest crypto venue on the territory of Eurozone. The company has international offices as well: in Amsterdam and somewhere in India, where it also started operations. The records say that the number of active customers surpassed the threshold of 200000.

There is little data concerning the protection methods applied in the company. We do not know the details about durability of keeping funds in cold storage. The only thing that is known is 2F authentication along with multiple backups arranged by the exchange.  The backup is done from disk to disk first and then to the cloud. The customers are aware - the personal info is secure as all information is encrypted.

The transactions are conducted quickly. The regular customers say about reliability of the site in financial issues. There is one thing though they do not like – a small selection of coins offered on the site. They would like to see a better choice of cryptos to be traded.

The platform lacks leveraged trading so far. Follow Bitbay news to learn about its new features.

There is one detail on the platform that deserves attention of regular customers. They are able to acquire Mastercard debit card co-branded with Bitbay and use it to cash out funds or to deposit money. This is a rare thing when such feature is available. It expands the possibilities of users. Something of the kind exists at Coinbase, for instance. Using the co-branded card of Bitbay, pay for commodities and services online. The person is able to withdraw digital cash to fiat money and get real cash.
The functionality helps to make better trading decisions as there are price charts to follow. There is an order book button below.

Unfortunately, the site lacks analytical tools, which would be helpful during trading.

The exchange has a mobile app created for users on the move. Actually, it wasn’t developed but was integrated with TabTrader, which is an Android-based app. It incorporates the data from the biggest crypto venues so that users could get the most comprehensive information at one place without browsing through different sites.  It is convenient to use the app, providing charts with technical indicators contributing to wiser decisions. The functionality of the app allows to trade right in the TabTrader. It also sends multiple notifications telling you about the price.

The customers are able to deposit funds to the account easily. It refers to crypto assets and fiat money. The methods of payment include bank cards, Polish post office transfers and even the local store chain. The users who passed verification can withdraw funds with BitBay card. However, one should have a Polish phone number to use the feature.

Though the crypto venue is based in Poland, its ambitions to become a global company are evident. The company is not regulated for clear reasons. The cryptocurrencies are still in the grey area and this stands in the way of its development.

The fees are not high for makers and takers and differ depending upon the volume of currencies. There are zero deposit fees for bank wire transfer and crypto deposit. The customers will have to pay 2% per deposits made with help of Express DotPay and Express Polish Post Office.

Contact BitBay support in case you faced some problem. It is possible to contact them on the phone or send the request online. It is possible to clarify the issue in FAQ section. There are detailed explanations of different questions on the site.

If you like what you read here, you can go and register on the site of the exchange. Alternatively, you can try out such exchanges as Bitsane, LakeBTC, Vircurex or VBTC.  Each of the services mentioned has its pros and cons. Discover the one that suits you better.
 

 

Why select a famous European exchange Bitbay 👍 👍👍 👍 - average rating 5 from 5 (based on 49 user reviews)