Bitbay Review

The trading and exchange platform Bitbay was launched in Poland in 2014. It is one of the first services for crypto-currency exchange in Eastern Europe. In addition to trading, the platform allows you to issue a MasterCard card in digital currency and pay it around the world.

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Introductory Video


Customer Support

Bitbay provides numerous options to reach them for assistance. You can make a phone call (+44 870 820 0322). The helpline is available every day from 8a.m. to 8 p.m. Also, you can start a live chat with a support agent, or submit a request through an online form. In addition, there is a capacious helpdesk section where you can find the replies to your questions on the platform’s operation.

Fee

Every time once you are making a transaction (buying or selling cryptocurrency) at BitBay you are charged with a transaction fee. The size of the fee is affected by two factors. The first one is the status of a trader - a maker or a taker. The second condition is mainly the trading volume. Depending on these factors, the commission for the maker is from 0.17% to 0.30%, for the taker – from 0.25% to 0.45%.
bitbay-fees

Deposit & withdrawals

Deposits can be made without account verification. To make a deposit, select the Wallets tab from the left menu, and choose the currency you wish to add. Choose Deposit option and copy the cryptocurrency address or use a QR code scanner. The deposit will be added to your account after receiving the right amount of the confirmations from the network. To make a withdrawal, while in "Wallet" tab, after selecting the appropriate currency, select Withdrawal. Enter the recipient's address and the transfer amount.

Features

The first peculiarity of the platform that is worth mentioning is the issuing of a payment card in a cryptocurrency, which you can use to pay for purchases in stores. Also, Bitbay provides registered customers with cheap funds transfers around the world.
Bitbay is actively developing the processing business. It offers traders the opportunity to make payments in cryptocurrency. You can choose from two options: Internet payments and more traditional way - through the terminal in the store. At the same time the seller can receive payment to his account at Bitbay, to a crypto wallet, to a bank account or payment card.
Another more common feature of Bitbay is API, which allows getting the information from the platform and adjusting an automated trading process. Also, Bitbay has an affiliate programme, which can bring you an additional income from the 20 % commission you will get for attracting new clients by sharing an affiliate link. One more peculiarity of the Bitbay platform is margin trading (also known as PRO advanced) that is specifically intended for experienced traders. This advanced financial tool allows traders to trade with funds borrowed from another trader. 


Brand Quality, Member Security & Site Safety

The Bitbay platform is convenient and easy to use, with no excessive or confusing elements.  It works fast and without glitches. The platform supports 3 languages: English, Polish and Russian. The clients’ funds are kept on cold storage in order to protect the currency from hackers. This means the funds are stored offline without direct connection to the server. The security of the fiat funds is guaranteed by the partner banks of Bitbay.
Deposits and withdrawal of funds must be approved by the authorized platform employees in a manual mode, which prevents an unauthorized access to the funds. Also, the platform uses an encrypted SSL connection to ensure the necessary level of safety.

Bottom Line

Bitbay is a reliable trading platform that offers unique trading features and tools. Its reliability and popularity of the platform is confirmed by numerous awards it has gained in cryptocurrency industry. So if you are seeking a secure place to exchange or trade cryptocurrencies, Bitbay is a good option.