BitBay

BitBay – modern service for  cryptocurrency trading, this is one of the first exchanges in the Eastern Europe. Curiously, the resource is founded in Poland, offers wide opportunities for digital token trading, quick deposit and withdrawal, the most protected transactions and plenty of other trading tools.

And however, is Bitbay a shady company, a scam artist or a reliable crypto exchange securing safety, stable trade and withdrawal at any right moment? The answers you will find in the resource review.

BitBay crypto exchange traveled the unique development path. It was first launched to the market in 2014, its founder was a Polish financial industry expert Silvestr Sushek. Initially the company presented itself as a «professional and intuitive platform for cryptocurrency trading». By that time one could purchase on the website Bitcoin and Litecoin only. But in as little as a year, in 2015, the tied agents launched a new website version and users could appreciate the advances functional and new trading tools. Lisk and Ethereum joined to the cryptocurrency range. After that the crypto exchange competes on a global scale and opens a new representative office in Amsterdam. Last year the amount of available cryptocurrencies for trading increased to 11. Apart from this, the platform started offering its customers the new services – cryptocards BitBay, deposit and withdrawal of fiat and digital money. Now the mobile website version is available for users, the platform started to offer the opportunity of charitable contributions.

BitBay is the one of a few services accepting the Polish currency – zloty (PLN) – for deposit and withdrawal, provides the opportunity to trade Bitcoin, Ethereum, Litecoin, Lisk and other crypto currencies (how to cash in on crypto currency, learn here). The website supports for transactions dollars, euro and Polish zloty. The debit card issuance is available for Poland residents, which can pay by them in cryptocurrency or withdraw cash from Polish ATM. Over 400 000 traders around the globe use BitBay platform in English, Russian and Polish languages. Every minute the system proceeds over 125 transactions, has simple and user friendly interface, provides ample opportunities for analytics: these are transaction history, recent market news, there are also  training materials available.

For quick settlement of questions there is the section “Customer support center” on the website, where the managers react on your requests quickly during working hours (from 8:00 to 20:00). The exchange is as much as possible keyed to Russian traders: there is a website version in Russian, the customer support is in Russian etc. The highest safety level is provided due the implementation of SSL-certificate, strong authentication by e-mail and Google-mail, availability of smart cards, multi-currency wallet. A pair of electronic keys are generated for digital wallets. The quality of services provided by the company is proved by international awards: The best cryptocurrency exchange 2017 according to Cryptocurrency World Expo, Polish Innovative Award 2017, The Canon of Good Practices and others. For extra comfort the resource offers to its users its own mobile application, integration with other applications for cryptocurrency trading: TabTrader, Simple Bitcoin Widget, Bitcoin Ticker, Bitcoin Checker.

Bitbay is a comfortable and the most secured space for cryptocurrency purchase and sale, with extra advantages for Poland residents. The platform also offers an interesting option «Suggest a coin», where the user can add cryptocurrency variations, which may appear on the website, and this option proves, that the developers stay in touch with the customers respecting their feedback.

Deposit and withdrawal

To deposit the cryptocurrency you have to enter the section Dashboard in the personal account and choose the currency you need. The service will send you the ling where to put cryptocoins. The withdrawal works the same way, by tab Withdrawals. Here you need to put the wallet you want to transfer to, and the sum.

If you completed the verification procedure (it is required by trade turnover over 150 000 euro), there will be 3 fiat currencies available for deposit: zloty, dollar and euro. You have to pick the currency you need and deposit the account through the bank transfer. The remittance of funds takes a day or less. Besides, BitBay lets you deposit zlotys in Post offices (available in Poland only), you need to fill in a special form (in the personal account on the website) and submit it to the representation office.

Complaints against BitBay

In the course of the exchange operating in Internet the various feedback appeared about it, but most of traders from different countries of the world share one view of BitBay being one of the most user friendly and simple systems for work. First of all it’s related to the attractive platform services, intuitive personal account and the website generally, quick technical support replies, easy smart contract amendments, apparent training information, up-to-date market news, quick deposit/withdrawal, strong tamper resistance. After the platform was updated, 11 cryptocurrencies became available for trading (learn the full truth about the cryptocurrency here). The users, which experienced Bitbay capabilities, certainly recommend it to their friends.

The net resource detractor is little service faults: not all capabilities are converted at ease or run in test mode yet. For your information the major platform update is planned for 2018, this marks the exchange as dynamically developing, enhancing its services.

BitBay exchange regulation

Bitbay is legally registered in Katowice, Poland, and obeys the legislation of this country. The platform is committed itself to keep, process and protect personal data of its customers and transactions done, including payment data. To secure all service safety policy points, the company uses special programs collecting users data (cookies etc.). BitBay security system includes unique solutions: smart cards, multicurrency digital wallet with two electronic keys. Cryptocurrancy storage is effected in cold wallets (in other words, the cryptocurrency is kept without server communication). The fiat protection is under control of partner banks.

There is also the keys encoding in image format is used on the platform (so called stenographic method), encrypting messages in a user account (protection of the information transferred and confidential correspondence), keylogger protection. The data back up is effected by 3-2-1 principle (disk-to-disk-to-cloud back up). For more safe security BitBay exchange applies the SSL-certificate on its website, which guarantees the integrity of the information transferred, along with the strong authentication through the mobile application. The detailed information about the platform regulation rules you can find on Bitbay exchange website in section «Privacy policy».

Check the service conditions on BitBay
Chekh the home policy on BitBay
Check the privacy policy on BitBay

Is BitBay a scam?

BitBay crypto exchange has been steadily operatin in the digital token market since 2014, proving its reliability, safety, and appeal to traders. Due to the unique service it’s quite easy to work here, possible to add individual preferences making your dealing with the platform easier, use the mobile version, integrate the third-party applications for the easy and lucrative trade.  With BitBay exchange you may quickly deposit and withdraw funds, buy and sell 11 cryptocurrencies, including the most popular ones (Bitcoin, Ethereum, Ripple).

Among the platform advantages there are minimal deposit and withdrawal commissions, possibility to issue crypto cards, which you can pay with in usual shops, restaurants and other public places. The special focus the platform developers gave to the safety issue solution. There is a safe multi-step program for protection of users, their data and crypto coins: SSL-certificate for the website, multicurrency digital wallet with two electronic keys, extra protection from licensed banks for fiat money, manual approval of cryptocurrency deposit and withdrawal by authorized company staff and more. Besides, on the website and on BitBay official pages in social media you can find a raft of information, which may be useful while trading: current currency rates, charts, news etc. Simple and intuitive interface with the user friendly account even the novices will appreciate. All the crucial information you will easily and quickly get by technical support, where you can call or ask right on the exchange website.

The platform users point more often than not the advantages of the resource: a great choice of cryptocurrency, exchange and lucrative cryptocurrency trading, fiat money support, convenient BitBay card. Besides, the platform offers the interesting option «Suggest a coin» (you can suggest a coin, which may appear on the platform). This approach of BitBay platform staff shows the customer care and the feedback respect. Among disadvantages usually little service faults pointed: not all capabilities are converted at ease or run in test mode yet. There is more positive than negative feedback about the platform today, and this increases the loyalty of customers. Exactly these points prove that BitBay is neither a scam, nor a cam artist.

For the time being over 400 000 active users around the globe use BitBay services. And however, is BitBay  a scam and a dirty trick? Today we answer this question with no. In this case our conclusion effected the fact that the exchange operates steadily, offers the unique service, quality and useful information, secures the quick withdrawal and the system safety.

Conclusion

BitBay crypto exchange is the shining example of a dynamically developing and promising platform for the meaningful crypto token trading. The resource is absolutely simple and user friendly for crypto token trading. BitBay has the minimal system entering threshold, so feel himself a trader can anyone who will take the trouble.

The service operates steadily since 2014. The positive feedback and references from te users concerning the platform, rapid withdrawal, high performance, user friendly insightful website, unique and safe system of users data and currency security, professional customer support attract users to the platform. Now the editorial staff of The FraudBroker.com project will not consider BitBay crypto exchange a scam. However we expect the real feedback from traders about the platform, which will help us to inform users bout possible issues of the resource and effect the ratings on our portal.