Cryptocurrency: BitBay (BAY) – overview

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BitBay (BAY)

BitBay is a cryptocurrency trading platform that offers fast deposits and withdrawals, secure transactions and advanced trading tools.

BitBay is one of the few exchanges where you can trade with Polish Zloty (PLN). Users can also withdraw PLN from Polish ATMs using their cryptocurrencies.

Another popular feature of Bitby is that most users do not need to verify with their account. You can create an account without verification (provided that you trade less than 150,000 euros).

Like some other exchanges, Bitby also offers a debit card that allows you to pay with cryptocurrency in stores and restaurants. Debit card is available only to Polish users.

In addition to PLN, Bitby allows you to trade Bitcoins, Ethereum, Litecoin and Lisk. Bitby also supports USD and EUR.
BitBay is headquartered in Katowice, Poland.

Capabilities

BitBay does many of the same operations as other exchanges. They claim to have good customer service, for example, as well as quick deposits and withdrawals, secure transactions and advanced trading tools.

Here are some of the main features of the trading platform that make it unique from other cryptocurrency exchanges:

  • Deposits and withdrawals:
    Bitby allows you to make a deposit to your account using bank transfers, credit card payments or Poczta Polska. During normal business hours in Poland (from 8 a.m. to 4 p.m. on weekdays), the company will add funds to the user’s accounts every 30 minutes. To withdraw funds, users can access express transfers or withdraw ATMs.
  • Two-factor authentication:
    BitBay has full 2FA support. Users can authenticate using their SMS token or Google Authenticator.
  • Multi-Sig Support:
    Bitby has multi-signature support, which ensures that transfers are allowed by at least two employees.
  • Increased Security:
    100% of BitBay funds are stored in encrypted cold wallets. The company backs up using the 3-2-1 principle (disk to disk to cloud).
  • Advanced trading tools:
    BitBay has professional charts, mobile applications, a good browser platform interface and the ability to integrate with applications such as Bitcoin Ticker, TabTrader, Bitcoin Checker or Simple Bitcoin Widget.
  • Affiliate program:
    BitBay has a very generous affiliate program. You get 20% of the Bitby commission from transactions made by each user who registers your affiliate link.

BitBay Commissions

Most transactions account for 0.43%. Your commission will decrease slightly (to 0.42%) if in the last 30 days you trade more than 5,000 zlotys, 1,667 US dollars or 1,250 euros. The rate continues to decline by 0.01% for each increasing increase in your trading volume.

The lowest fee you pay with Bitby is 0.25%. This rate takes effect when you trade more than 3.5 million zlotys, 1.67 million US dollars or 875,000 euros.

Bitby does not charge any commission for the delivery of BTC, ETH, LTC or LSK. Most PLN deposit methods, such as Poczta Polska and Dot Pay, have a commission of 2% of the deposit value.

Deposits EUR and USD Visa and Mastercard are estimated at 5% of the deposit amount with a minimum commission of $ 10 or 10 euros.

Withdrawing a PLN at a Polish ATM will cost you 10 zlotys for amounts from 100 to 1000 zlotys or 20 zlotys for 2000 zlotys and more.
You can view the full BitBay betting structure on your website.

How to use BitBay

Setting up with BitBay is simple. Here’s how it works:

Step 1) You create an account. If you trade less than 150,000 euros, then no verification is required.

Step 2) You add funds to your account in selected currencies. Supported currencies include PLN, EUR, USD, Bitcoin and Litecoin.

Step 3) Start trading. Post an offer or take advantage of the instant transaction feature.

Output

BitBay is a cryptocurrency exchange in Poland that offers the trademark PLN, EUR and USD with cryptocurrencies such as BTC, LTC, ETH and LSK. Using BitBay, you can withdraw PLN from ATMs in Poland using your cryptocurrency amounts.

The company also allows you to buy with a credit card (VISA or MasterCard), although this service is only available in Poland.

Ultimately, Bitby is especially popular among Polish cryptocurrency users. However, it has a higher fee than other exchanges, and some services are available only to residents of Poland, which limits its popularity internationally.

However, Polish cryptocurrency users enjoy a wide range of benefits – including one of the few services where you can withdraw PLN through ATMs.

 

 

 

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