Cryptocurrency Tools: BitBay

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BitBay is a cryptocurrency exchange founded in Poland by Sylwester Suszek in 2014, with its head office located in the country. It mains foreign offices in Amsterdam and New Delhi. The initial goal of BitBay was to provide Polish users a safe and secure cryptocurrency platform, but has since extended its services to other countries.

In addition to cryptocurrency trading services, BitBay also offers its customers the ability to pay their bills with Bitcoin via SMS.

BitBay supports many of the lead cryptos, as well as some game tokens. Fiat currencies used are euros, U.S dollar, and Polish Zloty. The methods that can be used to transfer these funds can be through cryptocurrency wallets, bank wire transfer, credit/debit cards, through the Polish post office, Express DotPay or the Zabka store chain. Withdrawals can also be done through a BitPay debit at any ATM machine that accepts MasterCard.

BitBay is unregulated, meaning anybody can hold an account.

Indian customers, however, must go through a KYC process.

The trading platform which BitBay has provided to those who wish to trade in cryptocurrencies is a proprietary web-based platform. It is designed to be simple and easy to use. It has the basic “Buy” and “Sell” feature and lacks any kind of analytical tools. The price chart is provided by TradingView.

BitBay offers two types of accounts, individual account and corporate account. The individual account is provided free of charge and can be unverified if you are trading solely with cryptocurrencies.

Bitbay takes pride in its security, and uses high levels of encryption on its site. Additionally, all transfers must be authorized by BitBay employees. Other security measures adopted by BitBay include 2 factor authentication and cold storage wallets. In short, the security at BitBay is ironclad.

BitBay offers support 7 days a week, with customer service agents available in English and Polish.

BitBay is a great starting point for new traders, giving its simplified controls and lack of regulation.

Protecting Your Cryptocurrency And Staying Safe on BitBay

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