The rise of the cryptocurrency trading platforms has attracted many opinions regarding the legitimacy of the trade brokers. It has become very difficult to understand which site is true and which one is not. Bit bay which is a trading site with Polish origin was created with a motive of allowing small trading to take place within the platform. The trading site operates with up to a ceiling amount of $500 000. The vision of various people has been towards the growth perspective attached to the bitcoin as the popularity of the same gets the speed.
The main gateway is provided by such exchanges. The various mediums offering the exchange of currencies have been the one who has given rise to globalization as well as the perspective of entering a safe medium for the exchange of currency. The major points that are highlighted by the BitBay about being a medium of exchange are briefly shared by it on the official website. They have been sharing the present price of the various currencies and the fluctuations are also noted by the providers. The major people and the white papers have always gained important in the media as the money of public is attached to the gateway.
The ideology of bringing an exchange is the requirement of an institution that is the medium between the issuer and the user of the currency. The exchange is the gap-filling medium for the currency recipient and the authority that is issuing the currency. The remuneration charged by the institute is called the fees which is the sole consideration received by the exchange. Features of an exchange include the issue of currency, having verification procedure completed of the person to whom the currency is being issued and to make a proper summary of the transactions that are affected by the trading activities carried out by the broker on the permission attained by the trader. The broker is the employee of the exchange and it is the representative of the exchange to the user of the currency. The opening of the account with BitBay is free of cost. There are no account maintenance fees charged by the company.
Attraction towards the need of the digital currency has been initiated with the popularity of trading. The traders are always welcoming the new medium of making profit merely by investing and enchasing the movement of the price in the market of the currency. It is quite different from the for market and it should not be correlated with it. The policies and the trading are different altogether. Forex has been discovered by the world with lots and lots of trading strategies but the bitcoin and various other crypt currencies are just required to be traded with few other descriptive policies that involve restrictions as well. The quantity that is the entry load and the exit load have various forms of Forex but in Bitcoin, it is not sub-divided. They just have withdrawal policy and few restrictions on the same. BitBay is the best medium of exchange so far when the digital currency is concerned. The overall review is highlighted below.
It is incredible to know that the cryptocurrency proceeds to strengthen its value in spite of the enormous changes that are going on this moment to every part of the world. Individuals from the west, south, east and north are getting involved in cryptocurrency. Do you know why? The main reason they are heading towards digital coins to ensure the protection of their investments because of vulnerabilities that came about because of significant occasions that happened for the current year, and we bet there is no requirement for us to elaborate all of these events. Indeed, even in Poland, individuals are currently more adoptive of cryptocurrency.
TRADING AT A GLANCE
The history of this trading site is not well known because of its small operations. This is a safety measure to the users of the site because it is unlikely that hackers can target small-operation website. The site is very flexible because it allows the traders to have access to many types of crypto-currency including Bitcoin, Litecoin, and ethereal. Although the site was founded in Poland, people from all over the world can trade on the site and make enormous profits. The trading is yet limited to certain restriction all because of the currency that is being traded.
The cryptocurrency has the major plus point of being transferable into any hand irrespective of the nationality, just the wallet is required which can be acquired by applying for the same. The trading can be initiated by the trader by starting their own account, sharing the personal details such as the Identity proof, proof of address, bank statement, passport, etc. The requirements are to be sure about the ownership of the trader. The medium of exchange of money needs to be authorized by the various financial organization. The speculation among the world and the doubt regarding the Bitcoin, Bitcoin gold and other cryptocurrency are getting washed off with the profit-making stories shared by the one who actually gained through investing in bitcoin. Few consider it as fake or spam but no such legality or legal action has been taken against any exchange dealing the cryptocurrency so far.
The Polish people enjoy other benefits of the trading platform like the existence of a debit card for making a local purchase and other transactions. The debit card is entirely tied to the bank account of the holder or to the master card of the holder making it easy for them to trade. Fantastic! Isn’t it? The Polish people can also initiate a trade using SMS. The verification of the transactions is executed with the help of dual verification. The SMS verification and the intimation of the transaction is done by using the services available to the customers. The website has shared its various medium for executing the receipts and payment of the cryptocurrency.
The most important features of the payment and withdrawal method is the attached fees that is being charged by the exchange for the different types of options available. The fees vary according to the medium chosen by the customer. The fees are a one-time charge of each transaction as and when they are entered by the trader. It does not promote the annual or monthly fees for the website or the features of the exchange. The application would have made the whole process very mobile.The site of the trading platform is easy to use and has many useful features. The interface of the site looks quite complicated and understanding it is critical for undertaking any trading on the site. Like most of the trading platforms, the site allows you to place an offer. Placement of the offer, as it is in many sites, involves stating the price and the number of units the individual is willing to buy. The site allows the bot-trading in which the individual agrees with some guidelines and the trading is done for the client especially if he cannot be available to monitor the progress of the markets.
WEBSITE AND ITS FEATURES
The BitBay exchange company makes huge claims like other crypto exchange platforms. This website claim to have great customer service, fast withdrawals and deposits, enhanced trading tolls, and secure transactions. Given below are some of the main features of this exchanging platform. You can go through these unique features of Bitbay exchange and decide if you can go with this platform or not;
The trading website also holds the feature of offering price charts for the trading process. The site, however, does not have any analysis tools while the order button is located at the bottom of the chart to allow the trader to buy and sell the product. The site is accessible on a mobile phone device although it does not have any mobile phone application. The site has been integrated with the tab trader in android devices. The website is mobile friendly and that gives the chance to the traders to observe the prices easily on the smartphone and the website features can also be accessed through the same. The essential features of the website are supported on the mobile view of the website making it comfortable for the traders. The price chart is updated at regular intervals and the timing of the update is also reflected below the price of the currency. The name of each currency is reflected on the website in bold letters and one can easily bifurcate among the all. The list view of the same makes it very easy to know the correct price of the currencies. The more traded currency has a number of fluctuations in the prices and the one which is least trade has very fewer fluctuations to be reflected. The fonts used by the website are very clear and the alphabets are also clearly visible. The website is having the option of being seen in three different languages. The same is a plus point for the international traders. It is the website that has origination in Poland and now it has opened its center in Amsterdam and recently in India as well.
The methods of payment are also different in the case of BitBay. The account accepts payment in the form of crypto-currencies and in fiat currencies. To make the platform more user-friendly, the site allows the people to deposit using various methods such as bank transfers and the Polish post for the Polish users. The verified Polish users easily withdraw the money from their accounts using ATM cards in case they have verified phone numbers. BitBay has been the winner of the title “BEST CURRENCY EXCHANGE 2017”. It has been open about the various means that are available for the customers. The safest path is the one which asks for verification. The assurance of the medium that is shared by the cryptocurrency websites are always doubtful but this we a different thing altogether. The safety is assured by BitBay. They have made it very clear that the transaction in money is prevented from the fraud through cryptography. Dealing in cryptocurrency got a new way to be explored by various users around the world. The most effective one is Bitcoin, they are accepted everywhere and cryptocurrency is the new way to keep the money safe while doing transactions online.
The valuation of the Bitcoins is done by the experts these experts are better known as a miner and they have the best point of view about the value. The calculation is done by them of the cryptocurrency and they are paid the remuneration in way of bitcoin. The companies are open about their targets and so is BitBay. BitBay has made it simpler in words by sharing the same on its official website, the things that are involved in the cryptocurrency. The safety measures are particular when the transaction is being executed, they focus on the platform that it is safest when transactions are being done. The money paid by the customer to online store using cryptocurrencies are transferred to the store with a click. The amount transferred is reflected in the receivers account in few seconds.
The website of Bitbay is appealing and generally simple to utilize. As a flashier site with a ton of advanced features, the UI can be somewhat more complex than other bitcoin exchanging sites. Further, their website will use more bandwidth, yet that should not be an issue for most of the clients. Similarly, as with most conventional trades, you can put an offer, setting both the cost you are willing to pay and what number of bitcoins (or various other supported coins) you would interest to buy. You can likewise complete the instant exchange that will enable you to rapidly purchase or sell coins at the present market-set cost. Moreover, you can likewise use a bot do exchange for you. For this process, you will stipulate certain rules, for example, an objective cost at which you need to sell or buy. This is an extraordinary value included a feature for the exchangers who cannot screen monitor marketing ups and down all the time.
The receiver cannot deny that he has not received any amount. The transaction that is successful is never reverted back or any sort of fraud is committed. The insuring about and making it very convincing of being secured is reflected during, before and after the transaction by BitBay. The BitBay has faced much criticism by the people and the internet is having the evidence about the same. Yet no official allegation on BitBay has been noticed or accounted. The words of critics seem to be the thoughts of the competitors that are the various other exchanges available. The mechanism of the website is still growing and the developers are still learning about various other possibilities of improvement in the same. The in-depth review of the website has helped to figure out such features.
SECURITY FEATURES OF BITBAY
The transfer is made by authentication provided by both the parties. The receiver, as well as the person making payment in terms of bitcoin, needs to authenticate the transaction. The security measures adopted by the site have helped them to build up the most secure network while entering into a transaction.
The two-way system of makes sure that the transaction being entered is the one that is fully authorized by both and they are doing these out of their own will. The site allows people to open an account for free. There is no requirement of the verification documents like government-issued identification but there is the verified accounts option. The account does not charge any management fees. The way of operations makes it different from the forex brokers who give trading facilities on the digital currencies. The most important task is to utilize the opportunity that comes across and the major highlights of the medium can be the outlook that is concentrated all around the way towards the exchange of money. The exchange requires trust among the traders. The traders require the vision of making more profit with each type of opportunity that it comes across. The most attractive way to increase the opportunity that is available in the market. The scope can is wide enough by attaching this medium to the business and work internationally. The international market is own for trading and to accept the payment and receipt of the currency.
REDDIT SHARED A VIEW ON BITBAY
The face of the internet, Reddit has also provided an acknowledgment of the BitBay, it is the market leader and is the safest cryptocurrency with version 3.0. The relationship from buyer to the customer, buyer to buyer and customer to the buyer can be maintained across the countries and over the continents by simplifying the payment procedures and exchange of currency by using Bitcoin. Currency, exchange, trading and the most important thing is security. All are being offers by BitBay. The recognition of the same is acquired by the trust of the providers. The trust is built up by allowing the access to be safe. The review made by Reddit proves that BitBay has been acknowledged by Reddit due to its performance in past few years.
PRESENT STATUS OF BITCOIN GOLD
Bitcoin Gold was a sensation and has a market capitalization as on 31 January 2018 of approx. two and a half billion dollars. The speculation among the buyers about the fact that the people behind the Bitcoin are tactfully keeping aside the coins at timely intervals and this could result in a future fraud or betrayal. The news is all over about the recent decline in the price by twenty percent and that is huge. The wallet of the owners has got its worth reduced as soon as the value was calculated to be lower and at the declining edge. The calculations are done by the experts that calculate the price of the cryptocurrency using the quantity involved in buying and selling the currency. The fluctuation in the quantity results into the fluctuation in the price of the currency. The movement can be converted into the profit by the traders by analyzing the situation and then taking necessary action of buying or selling the same.
MECHANISM OF TRADING AT A GLANCE
The prospective buyers can buy the Bitcoin at the exchange by depositing the funds and issuing the Bitcoins for the same value. Bitcoin and Bitcoin gold can also be bought with the help of cash by using Bitcoin ATM service which is a revolution of its own kind. The various mediums available have made it very easy to the reach of the people who are interested in buying the currency. They can make their own choices and can also add and transfer the currency. The online banking has been substituted by Bitcoin for the exchange of currency in the international market. Subject to certain matters, yet the people doubt it and a wave of susceptibility has been started with the same. The trading opportunity mentioned above is very risky and the exchange executed by the customers of BitBay is warned for any kind of prospect loss that they might count if they are attracted by such policies. The greed of getting money faster in no time always leads a person towards the trouble. The thought of making more money by investing low is the cause of every problem. The money earned is hardcore cash and can be attained by smartness and hard work.
The speculation raised by such websites of claiming to pay over and above the genuine growth opportunity is nowhere in the coming future. Unfolding of the same by the authority has helped the people to be more aware of it and they are warned by the experts too. The thought of investing the money that is earned by rigorous efforts and the precious time that we have gives chills to those who know what this is all about. The bitcoin is not a coin of gambling but certain people have made it a gambling coin. The trading is a practice and it involves skills. It has study attached towards its background and people are mostly unwarned about the same. The myth about trading in share market is like playing a game of gambling but it is certainly a big myth. The trading in securities are subject to market risk and requires in-depth analysis of the various numerical involved. The financial statement of the company reflects the opportunity for the same. The figures and the titles mentioned in the financial statement can help a person to calculate the various results by applying the formula. The results are compared with the returns and that needs the deep study. Alike the investment or trading in bitcoin needs study but not about such facts rather about the authenticity of medium to which you have approached. BitBay has been open about everything, yet people have their own stories that trade entered by them was not reflected in the wallet. The complaint mailed to the BitBay was unanswered. The review shared by Reddit is although a plus point for BitBay.
To support the traders and to have a constant growth for their business, the trading platform has many auxiliary features. One of the features is the availability of customer service around the clock. The customer service allows the traders to communicate their issue and make inquiries on the trading platforms. Additionally, the trading platform has redundant servers which ensure continuity of the business at all times. Moreover, the connection of the trader to the site is SSL encrypted. This feature prevents the hackers from tampering with the trade. The databases of the traders are also highly encrypted and they have a backup system. The features like this always help an organization to resume their critical business when they are being hit by the disaster or any natural calamity. The facts like this are very common to be open about and the essential point is to get the backup of such organization which is dealing in the money and interest of the investors is attached as well as the risk that they bear.
The ways of resuming the critical business can be many and the one is keeping the backup of the essential business. The most important way to make investors assure about the investment is to share the availability of such options to them. The business is concentrated towards the 24X7 service and the customer care is open for contact round the clock. The people who have shown faith in the organization have got the best opportunity to make the things workable by solving the problems or by removing the obstacle with the help of the guidance by the expert. Such services are always beneficial for the users as well as for the service provider. The 24X7 services offered by the website makes it very clear that the website is aware of the importance of customer satisfaction and is always ready to solve their query. The service that provides a satisfaction to the customer to be able to get the help as and when they want. The currency that provides the ownership as well as makes the owner feel secured about the investment made.
The site is well encrypted and has a backup of every activity being conducted by the site. The assurance of resuming the work even in case of any disaster, the recovery is very easy. The measures are adopted well in advance by the responsible people of the BitBay. The login history is maintained by the website. The history maintained is to provide the authenticity to the transactions being entered by the user using different IP address and to avoid any risk of fraud. The availability of certain features that are there to provide assurance about the security is very important. The most important features require the most important measures for keeping their integrity at a very safe place. The trust of the users or owners of cryptocurrency are of the upmost value to the BitBay and they do not want to let it go, just like that. The more they are becoming aware of the fact that vulnerability can hit the currency. The more they work towards the removal of the risk. These are the most important way to deal with the deals and to protect the currency as well as the owner of the cryptocurrency from any fraud.
The traders using this platform also enjoy an encryption of their coin wallets. The 3-2-1 backup principle is used in the creation of the backup for the store databases. The 3-2-1 principle follows the disk-to-disk-to-cloud. The access to the platform is also protected by password encryption. The password requirements for the site protect the site from the hackers. The authentication process during the login process is protected in such a way that the account is kept secure through the SMS token or the authenticator Google. Security is at the prime importance all because of a number of frauds related to cyber is being conducted by the intruders. The ensuring of money being safe is of great importance for the people dealing in cryptocurrency.
The major points about the whole mechanism lie within the awareness about the importance of currency and the trust that their investors have shown in them. The ease of making payment has been introduced by the BitBay and has not provided the investors any application that makes the whole working very easy with the help of single touch. The application if was available then it could be installed on Google Play or Apple App Store. The smartphone has made it very easy, a small application has all the features of the website in a small display but covers vast coverage of the features offered. But the disappointing fact is that the BitBay is not so equipped with the new features and technology and the requirement of the app is yet not observed by the company.
ALTCOIN A NEAR COMPETITOR OF BITBAY
Altcoin is another exchange but asks for fees for the usage of the services. The same is near competitor to BitBay and is just a new type of exchange for the cryptocurrency. The fees charged by BitBay is monthly charge as per the plan and the fees are in percentage as per the trading volume. It not fixed but is variable as per the volume entered by the investor. The fees are the remuneration of the exchange and have no relevance to the currency or its denomination. USD, PLN, and EURO are the currency in which the plans offered by BitBay are transparently shared along with the denomination and the percentage of the fees as per the quantity of the currency. The classic bank transfer is not requiring any type of deposit but other medium require ranging between2-5% as per their type. The currencies in which deposit is accepted by BitBay are USD/EURO and PLN. Altcoin is new and altcoin does not have a huge market. The customers are choosing BitBay over Altcoin.
WITHDRAWAL METHOD OF BITBAY
The limit on the withdrawal method has been shared by the company on the basis of deposit made and the medium of deposit as well as withdrawal method matters for the same. SEPA, SWIFT, SWIFT COMMUNICATE, etc. are the different types of medium available to the users and owners of the cryptocurrency for withdrawal method by the BitBay. The BTC is the most valued currency as compared to the others. The options are open for all, it is at the discretion of the user to choose the one that suits them the most. The arbitragers usually are concern about the withdrawal method even before the deposit. The arbitrage gain or loss is not a trade practice in the digital currency.
How can one withdraw the bitcoin?
Users and owners can withdraw the bitcoin through the IQ option available. The option is available in the wallet itself. The arrow beneath the statement of the trading and the net amount available has the option. Just click on that and withdraw the amount. One should keep in mind that the withdrawal is limited to the amount that is deposited by the user through the 3D payment done with the help of credit card. The deposit of amount in the case is $650 then withdrawal can only be limited to $650. The myth about the barrier to withdrawal method has been eliminated with this feature and the awareness among the users about the same. The investment made is packed up into a fixation sort of and is blocked for a certain period from any trading or exchange. These are terms and condition for the investment attracted by the companies in bitcoin currency for their prospect policies. The security is enacted with the latest features offering the highest level of security. The major features of the website include the guidance about the steps that are needed to be followed by the users. The cryptocurrency is not at all a paper currency and users often get confused about the ATM device that is being installed for the same. It is all because of the acceptance of the cash by the currency exchange to issue bitcoin against them. While withdrawal from ATM is very easy but subject to the condition of the quantity and the currency that is withdrawn is either EURO, USD or PLN. These three are the possible currency that Bitbay is accepting and paying.
Is it a Fraud?
Fraud means deliberately entering into a situation which can harm the other person. The activities conducted by one person that can easily harm the other party and he/she continues to perform the same. The cyber frauds are common these days and the frauds like these are always having harsh punishments and also attract penalty followed by imprisonment in some cases. The fraud can be detected when a part who has been a victim confirms the same by addressing a fraudulent of accusing him/her. Well, the company is not a fraud and the same is the take for the cryptocurrency. It is actually working and speculations have been raised on the authenticity of the same. Reason being the non-involvement of any government organization or any financial institution that has an international background.
The identity of the founders, dealers, experts, price fluctuations, etc., all are just covered by the internet and are just a digital spokesperson. Nobody has taken the responsibility of the liabilities and the responsibilities of the Bitcoin currency. The clear version of speculations has been raised by all the markets. The traditional ways of dealing in securities have been altogether broken down by the introduction of the cryptocurrency. The Bitcoin has been the market changer; the fluctuation in the price of the same has attracted many investors towards the same. People are not limited to use it as an exchange currency but also as a new investment opportunity. The various words of the experts around the world have proved the vision of the makers to be true. They have thought to make it the most accepted currency, though being afraid of all together being cheated by it yet people are working on it and making it popular than ever before.
Is it a scam?
The word scam has a wider meaning than a common reference to it. It is a kind of cheat that is having coverage of being an authentic document or personality. The BitBay is not scam and is just a gateway to make the exchange of Bitcoin an easy deal. The app introduced by the trading site has made the access for the customers very easy and very appropriate. The simplification that has been done is all with the motive to attract more and more users. The owners of the currency are always affected by the fluctuation in the price may whatever the currency is. The cryptocurrency users always feel the same way.
They are always ready to be equalizing the gain from the fluctuation but the barriers in case of investments made cannot allow them to make a profit out of the same. The one who has kept the currency just for the trading purpose can easily buy and sell the same with the help of the wallet provided to each user. The wallet is personal and has a private key as well. The documents that are accepted while issuing the wallet have always been the unique identification documents such as Voter ID, Passport and the evidence that provide the proof of the address for the person applying for the card that allows accessing the cryptocurrency.
Is Bitbay Legit?
Some people claim that Bitbay is a scam, so you should discover is Bitbay Legit? Some independent team evaluated this platform utilizing the system of Fraud Risk Assessment to decide any possible Bitbay scam. As a result, the warnings show zero with the Red Flags or possible issues at four. The group utilized a weighting component or emphasis given to accessible information at 40 percent to figure out final ratings. It connected a factor of 25 percent for trading and funding and 15 percent for support and platform.
If you perform your own research on Google, you won’t discover noteworthy complaints or incidents of scams and breaches. The Bitbay proposed progressive exchanging experience than numerous other digital trades. The organization claims tools for purchasing and offering orders empowering the skilled exchanges. Bitbay however, doesn’t hold the currencies. It just gives the market to business including the virtual tenders. In any case, clients must experience a general verification before you can store money utilizing your credit card or other supported payment methods. For the bank wires (exchanging digital currencies or the funding accounts, a client may avoid the verification procedure).
The Bitbay may not turn out as the main facility in the whole world since it has numerous competitors referred to by individuals having lower fees and better features. You can’t prevent exchanges from opting this website in spite of a few downsides. So, overall Bitbay is surely legit and not the scam.
How to Buy Bitcoins with Credit Card on BitBay !
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Bitbay Affiliate program
The affiliate program of BitBay exchange is an incredible way to build passive income. You can join this program today following these simple steps: revenue!
Sign in to your Bitbay account and Click on “Affiliate program” option. It is situated in the menu on left side. In case, you don’t have a BitBay account– you can create a new one and activate it with the link in your associated email address.
When you reach the program page you will find out “affiliation link” and the promotional materials that you can use on your blog or website. However, you don’t need to own blog or website though as you can send that affiliate link to your family, friends or place it in on the signature of your forums. There many other ways to promote that affiliate link to earn money.
When someone registers on Bitbay exchange with your affiliate link then they will be associated with your affiliate program. Now, for each exchange they make you to will gain commission. Normally it is 20 percent yet for extremely active clients the website offers higher commissions.
So, wait for the movement of your program’s registered clients and gain profit! You can withdraw money from your passive your BitBay account and you can utilize it for additionally trade exchanges.
PROS AND CONS OF CRYPTOCURRENCY
The withdrawal methods are limited and the one which is most convenient has been mentioned above. The mode of finding the possibility of making money with the fluctuation in the price of the currency is termed as Arbitrage gain. The arbitrage gain can be done by the owners of the currency with the help of the major things such as keep a keen eye on the possibility of fluctuation and marking a buy or sell as soon as the price decreases and increases. The arbitrager targets that the price is as soon as decreased the person should buy the currency and as soon as it is high then sell it. But cryptocurrency cannot be utilized as an opportunity by the arbitrage as it has certain restrictions attached towards the same. The currency spends on buying the quantity can be achieved by selling the same. So, the restriction is done to the arbitrage and it is protected from such fluctuations caused by such acts. The things like these are observed in the financial currencies and the market is flooded with the restrictions on the same. It can easily affect the world economy in minutes. The adversity of the same has been observed by the world.
The globalization has provided the need for the exchange of currency. The exchange of currency takes lots of time and it tried to bring other types of fraud in the market. The conversion of currency was being converted into the benefit of the party and the loss of the other. It gave rise to the forex market altogether. The bitcoin has been the extension of the same. The people who wanted to make a quick profit and quick exchange are attracted towards this medium. The popularity has been attained by the same. Since the launch back in 2009, it is going to be a decade and to promote the same measure is taken by BitBay by offering the interested users to be a party for the same. The need of its review also needed and the review is being done by many such as Reddit. Reddit is the most renowned review sharing website.
The website has offered many other forms of accepting the payment and trading as a cryptocurrency. The acceptance of debit card is the most impressive option as it reflects the tie-up of being recognized by the various financial institutions. The majority of the exchangeable currency that is accepted to issue bitcoin are briefly mentioned above. The same is referred to a single name. The difference between such currency and the crypto is provided on the website of the company. It is stating the major points such as the acceptability, ownership, control, etc. The exchange has a multipurpose such as the trade, export and import, investment and many others that attract the inflow and outflow of the currency. BitBay is exploring other features as well that can make easy the payment option and the receipt of payment by the traders. The steps taken in this way are important for the development of the popular gateway setup by the BitBay.
The disclaimer regarding warning has been shared by BitBay with a special heading on the official website. The same is shared by BitBay on its official website. The most attractive way of declaring all the pros and cons is to be transparent about the same. The risk involved among the same is openly shared by BitBay. The exchange of currency is more common with the usage of it on a global platform. The global platform always shares the exchange of various currencies that each country has but the cryptocurrency is the one that has the medium of being converted into a singular exchangeable currency. The most accepted currency with the variety of uses. It can be used as a normal currency that is not reflecting a single economy but is universally accepted. The fluctuation of currency is briefly described above and has the specialty of being able to be known as a medium of exchange in return for a business trade.
Supported Cryptocurrencies of Bitbay
Beside exchanging Bitcoin, the Bitbay likewise supports different cryptocurrencies including Ethereum, Monero, Bitcoin Cash, Dash, Lisk or LSK, and Game. So, you can utilize these virtual coins for the traditional fiat currencies such as EUR, USD and Polish Zloty. The buyers living in Poland may pull back from ATM in Poland. Bitbay Bitcoin account comes free and it doesn’t request extra affirmation like government ID or individual reports contrasted with different exchanges. The payment options are debit or credit cards, bank transfer or the deposits via convenience store called Zabka Fresh Market or the Polish Post office (for locals only). As per another independent review of Bitbay, you can execute business in this trade productively with private keys and accounts made available just to the client.
Help & Support of Bitbay
An amazing thing about BitBay is that their live support by telephone is accessible. It is a simple alternative to the choice to leave a help ticket. It assures that the English speaking team is prepared to answer inquiries from worldwide clients. If you are in this business, the help could be required in different cases, in light of the fact that the accessible documentation is somewhat limited. It has little bit information on Bitcoin, missing fundamental data like an explanation of order book and small educational value. Overall, help and support of Bitbay is satisfying and can help you in different situations.
The mobile app of Bitbay known as Bitbay Pay can ease prompt, secure, and trouble-free payments. Indeed, exchange says it managed 50, 000 such exchanges on the daily basis that can provide you some assurance in utilizing this exchanging organization. As indicated by the Bitbay company, their app achieves these operations on spots around the world. Moreover, you can demonstrate your preferred currency for the hassle-free free exchanges. It also uses two-factor authentication process so users can do verifications with Google Authenticator programming token. Bitbay Pay additionally utilizes the multi-signature framework means at least two employees can approve the exchange of funds. This electronic trade uses web program stages, professional charts, and mobile User Interface that incorporate with applications including the Bitcoin Tick, Bitcoin Checker, Tab Trader, and Simple Bitcoin Widget.
The fee for this platform runs from 0.17 percent to 0.30 percent for makers and 0.25 percent to 0.43 percent for takers. Different platforms say that fee mainly depends on the monthly volumes. Most of the exchanges linger at 0.43 percent and reduces to 0.42 percent especially when you exchange more than US$1.67 million, 3.5 million (PLN) or 1, 250 (EUR). It doesn’t charge deposit fees for all the cryptocurrencies.
Their prices conform with current market costs despite the fact that prices contrast from one transaction to other. Other than low fees of this platform, you can always depend on their online support with instant messaging at the screen’s lower section. Be that as it may, a few reviews pointed out the stability of their website. Despite some of the negative remarks, their support remains a solid choice for Bitcoin dealers in Poland and all over the world.
Your cryptocurrency trade ought not to be shy about containing the information of site’s fee. Moreover, it will enable you to get your attention in on how transaction, withdrawal, and deposits fees work. The fee is not same with all exchanges, it differs substantially.
Exchange rates are different for different exchanges and if you spend some time in understanding different options involved, you could spare yourself significantly more money. There is no irregularity for rates to vary as much as 10 percent or higher on the specific events. You can go through detailed fee structure of BitBay on their site.
SUMMARY OF ANALYSIS
The whole concept behind cryptocurrency is explained above with the brief review about BitBay. The awareness among the people about the digital currency needs to spread. The most important reason is to protect them from the frauds that are available all over the internet and better known as cyber frauds.
The fraudulent have made the digital world a vulnerable place for the currency. But measures, as are implemented by BitBay, can protect the users from the risk that has been raised. BitBay users enjoy many advantages from remarkable features of this platform, for example, the option to withdraw PLN from ATMs utilizing cryptocurrency funds. However, this service is as of now constrained to Poland only. BitBay is, accordingly, a great choice particularly for digital currency clients in Poland. On the flipside, it has higher expenses than a few trades with a few features being restricted to Poland just that constrains its fame outside Poland. Therefore, it can be an ideal decision within the polish area and begin to have less sense for areas outside that region. The various features of the website are open with the help of the system that has been implemented by the website. The major issues are being worked on. The application must be introduced by the website and it is the topmost requirement that the users of this exchange have urged for. The more the feedbacks are received by the company, the more measures they are implementing.
The BitBay has long run to go, it has covered a very long way since the launch. The future will say whether the same is fake or fraud or spam. Till date, no such thing has been seen or observed by the users and the people who are trading in the market. The various other ways are to make the best use of the opportunities available in the market. The conclusion drawn after the review is highlighted below.
In conclusion, BitBay which is a trading platform founded in Poland has many accruing benefits. The main pros of the platform are that it allows the deposits in the form of fiat currencies and digital tokens and that payment can be made using the debit cards. The wallet that is issued helps the owners of the bitcoin to make and receive the payment. The security measures are adopted by the trading site for the security of the same. The security measures are transparent as well; the official website carries all the required details about the same. BitBay has been the major contributor to promote the exchange of the cryptocurrency among the market. The trade has been open and it has also been the eye opener for many of those who thought it was fake and fraudulent practices were being carried out by the makers of the same. Yes, the myth has been removed with the help of crossing the barriers which were above these all thought. The pros and cons of Bitbay are concluded as:
- Great support team.
- Different deposit options are available
- You can use debit cards
- Option to transfer money
- Limited top-up options
- Some services are limited to Poland only