In fact, Bitbay – reviews and description of the exchange

BitBay founded a Polish cryptocurrency exchange is in 2014. The company was originally based in Katowice, but unfortunately due to many restrictions and changes in Polish law it moved to Malta and then from another perspective to Estonia. It is worth mentioning that it is instantly one of the largest in Europe and is controlled by Financial Intelligence Unitor, Estonian Financial Intelligence Unit. What you should know about it and how to trade?

Registration with BitBay

Registration on BitBayveryis fast and straightforward. Indeed, All you need to do is provide an email address, check acceptance of the terms and conditions and consent to the processing of personal information and tap „Register”. After a while we receive a activation to the specified address, asking for message of the account. After clicking on the link, we need to provide login, password and PIN code, which will be helpful when contacting customer platform. Although after registration we can . trade on the exchange, but unfortunately an profile without verification is very limitedalready

How does the account verification look like

Verification is not too complicated, and to get to it we have to tap at top from another perspective the of the screen „Verify User ID”. Until verification iswillsuccessful we know at the top that the login is unverified. The process itself we begin by giving personal facts, address of residence, ticking the statement thatthe deposited funds were obtained legally and that we do not occupy any essential position. In the last stage, all that remains is to send a scan of an ID more than ever card or passport and some document confirming the address of residence. This caninclude. water bill, electricity bill, .etc

It’s worth noting ’ Although an unverified user ID allows you to deposit and trade cryptocurrencies, without successful verification you canthatt withdraw the funds collected on the exchange.

make to How transactions on BitBay

Actually, Making transactions on BitBay is very uncomplicated and there are several types available:

• Place bid – here you enter the amount and rate at which you want to sell or buy cryptocurrency. A transaction will only be processed if there is an offer that meets your criteria,
• Quick transaction – we immediately make the transaction at the currently available exchange rate. You specify the amount of cryptocurrency you want to sell quickly or the amount you want to spend on its purchase.
• Stop market – the function triggers a sale when the price drops to a preset level or a purchase when the price reaches a preset level,
• Fill or kill – this type of offer must be completed in full and immediately or it will be canceled,
• IOC – allows you to immediately sell or buy cryptocurrency at a set rate. Similar to the above offer, with the difference that it allows for partial execution.

In turn, slightly below we will discover another interesting information more than ever ie: We can then also immediately follow how exactly the exchange rate has changed over time (from 15 minutes to 31 days). You can select a specific currency and cryptocurrency by clicking on its symbol on the left side.

• Offers to buy (ask) – these are current offers from users who are willing to buy a certain amount of a given cryptocurrency for a given price,
• Bids – the opposite situation, i.e. users willing to sell a specific amount of cryptocurrency at a fixed rate.

Available as it turns out currencies and cryptocurrencies

On the BitBay exchange we can trade using 4 different currencies, namely PLN, EUR, USD and GBP. There is no in listing all the cryptocurrencies as there are as it turns out quite a few andpointnew ones appear regularly. In fact, Of course all the most popular ones, such as. bitcoin are available from the very beginning.

OtherBitBayoptions of the exchange

• Dashboard – account details such as amount of held cryptocurrencies and funds, data, etc. Here you can also see how much your balance would be if you sold all your cryptocurrencies at the current exchange rate,
• Exchange – this is where we make all the transactions mentioned earlier,
• Offers – here you can find the currently displayed offers,
• Wallets – here we can view the cryptocurrencies we own and make deposits and withdrawals,
• History – details of all transactions made on BitBay and the balance after a given operation,
• Kantor FIAT – BitBay also allows you to simply exchange currencies like in a regular online bureau de change,
• Affiliates – you get up to 80% of the commission charged by BitBay on transactions of invited persons. Here you can find various advertising materials and detailed statistics about clicks and registrations,

How to make in modern times cash on BitBay

Indeed, It is enough that we market cryptocurrencies at from another perspective a price than we bought them, but unfortunately this is nothigheralways possible. Everything depends on how long you want to keep it after the procure. theory making currency on cryptocurrency exchangesInis very plain. It’s worth noting that This is because cryptocurrencies very fluctuate much, also downwards, so it is a very risky investment. However, we must remember that not can we not earn, but also fail aonlylot of currency. Interestingly, cryptocurrencies long be treated as both a short-condition and a can-condition investment.

In fact, Where to get cryptocurrencies to market

BitBay is an exchange that allows you to buy and at trade cryptocurrencies then a profit (or loss). However, it is worth keeping in mind that buying is not the only way to acquire cryptocurrencies. As you may know, We can also get them in other ways to cash them in on the exchange.

As you may know, Fees and commissions

What commissions expect we can? Another essential issue is the turnover in the last 30 days. Fees vary dependingredeemon whether you list or . Creating and maintaining an profile on the BitBay exchange is completely gratis, but you have to reckon with the commission on transactions made.

• Maker (person making the offer) – 0,17% to 0,30%,
• Taker (person executing the offer) – 0.25% to 0.43%.

Deposits on the exchange are carried out without additional fees (except for deposits via credit card, where the commission is 2.99%), but for withdrawals we have to pay extra:

• domestic bank transfer – 6 PLN,
• withdrawal at an ATM – 10 PLN,
• SEPA bank transfer – 0,1% EUR (min. 1,5 EUR, max. 150 EUR),
• FPS bank transfer – 2 GBP,
• to a payment card – 2.99% (min. 10 PLN or 2,5 EUR).

Opinions about BitBay

BitBay is a Polish cryptocurrency exchange and also one of the largest in Europe. that is worth noting It it regularly introduces recent cryptocurrencies to the platform and currently supports more than ever a really large number of them.The panelThe exchange also has is very intuitive, so navigating through it should not cause any problems even for beginners.very good feedback on the Internet, so it is certainly worth keeping in mind when trading cryptocurrencies.