BitBay
- Overview
- Security
- User Experience
Volume 24H: BTC 15.67957798 / 24h
BitBay is a trading platform based in Poland. They provide multiple services including issuing a MasterCard which allows you to spend Bitcoin anywhere and withdraw cash at ATM's in Poland and abroad. It is a smaller exchange with less liquidity and volume than some of the bigger ones, but makes up for it in the variety of its services.
BitBay is best suited to Polish customers since some of their features are available only for Polish citizens. The UX design of this platform is very sleek and modern, the order book buttons are easily visible in the platform and the categories menu is very well delimited, allowing users an easy navigation through the options.
Crypto Currencies Support
- BCH
- BTC
- DASH
- ETH
- GAME
- GTC
- LSK
- LTC
Traditional Currency Support
- EUR
- PLN
- USD
Language Support
- English
- Polish
Country Support
- Australia
- Canada
- European Union
- Hong Kong
- Japan
- Most Africa
- Most of Asia
- Most of Eastern European Union
- Most of Latin America
- Most of the Middle East
- New Zealand
- Norway
- Russian Federation
- Singapore
- Switzerland
- Turkey
- United Kingdom of Great Britain and Northern Ireland
- United States of America
Platforms Systems
- — Api
- — Web Interface
Stock Market Options
BitBay offers standard security measures for an online cryptocurrency trading platform. The company states that all important data is encrypted and the exchange works on dedicated servers with full redundancy, databases, backups, wallets, and passwords. BitBay claims that all deposits and withdrawals are authorized manually by employees. Bitbay stores all funds in cold wallets.
Summary:
| 2 Factor Authentication | Yes |
| Funds Insured | Fiat Currencies Are Insured Under Bank Fund Guarantee Fund Bfg |
| Private Keys Stored On | Exchange Platform |
| Storage Type | They Claim To Hold User Funds In Cold Storage But Are Not Specific About It |
BitBay was founded in Poland by Sylwester Suszek, who, according to the company's website, has a lot of experience in finance. BitBay runs 3 offices in Poland, Netherlands, and, with a recent expansion in India, in New Delhi. This platform is the largest in Poland by trade volume. Except for some minor bugs the overall reputation of this platform is positive.
Summary:
Bitbay is a smaller platform with limited functionality for non-Polish users, but it has a lot of potential to become an important player among cryptocurrency exchanges. Acquiring more proof of legal compliance and a more transparent vision regarding its security and coin storage could increase volume and make BitBay a little more appealing to international customers.
| Ease of use | Intuitive |
| Transaction Fees | Between 0.20-0.30% Depending On Volume |
| Deposit/Withdrawal Fee | It's Free (fees May Be Hidden) |
| Deposit/Withdrawal Fee For Bank Transfer | It's Free (fees May Be Hidden) |
| Deposit/Withdrawal Fee For Credit Card | 0.5-0.79% |
| Deposit/Withdrawal Fee Charged For 3rd party Payments | 0.1-0.29% |
| Anonymous Trading | No |
Deposit/Withdrawal Options:
Deposit from bank account, Deposit using 3rd party, Withdrawl funds to bank account, Withdrawal funds to credit card, Withdrawal funds through a third party, Withdrawal from ATM (Special BTC ATM), Send/Receive Crypto
Functionality:
BitBay has the basic functionality of a full-trade exchange platform without the volume for big traders. They provide extensive deposit features for Polish customers. It's key feature is the credit card. This card allows users to make both online and offline payments or withdraw cash from worldwide ATM's. The card issuing and maintenance fees are low.
Most common customer complaint:
— Some complain of problems with withdrawals in Euronet through SkyCash.