BitBay Review

What is BitBay exchange?

Bitbay is an award-winning cryptocurrency exchange founded in Poland in 2014.

The number one exchange in Eastern Europe, BitBay offers 30 cryptocurrencies to trade, with an easy way to compare exchange rates for different currencies and assets.

BitBay was founded by Sylwester Suszek. His original mission was to create a place for Polish miners to exchange the coins they’d mined. Now, the exchange has become the leading platform in Europe and has not fallen victim to hackers like many other exchanges that started at the same time, such as Cryptopia. Suszek has achieved this by continually investing in state-of-the-art security features that keep this exchange one step ahead of hackers to keep traders’ capital secure.

The exchange now operates from Estonia, where it arranges charity events, industry talks and crypto education programs.

BitBay accepts deposits in a range of currencies, including: GBP, USD EUR and the Polish Zloty (PLN).

Standout BitBay exchange features

Offers 30 digital currencies — On BitBay traders can exchange up to 30 currencies. The 30 coins have been carefully curated out of thousands of possible cryptocurrencies, so traders can be assured that the 30 cryptocurrencies have been carefully selected, with close attention paid to their regulatory environment and suitability for traders based in Europe.

Winner of “best exchange” award three years running — BitBay has won multiple awards for its exchange, dating back to 2017. The awards were given at various conferences where BitBay was able to show off its innovative platform and win the praise of industry insiders. The platform also claims to have a high customer satisfaction rate.

Generous affiliate program — Up to 80% rewards for inviting your friends to join the platform. If you get your friends to sign up to the platform, you receive lifetime commission from the fees they pay to the platform. This can be very profitable if you have friends that are looking to try out cryptocurrency trading on a long term basis.

Free account — BitBay has zero charges for opening an account. This means traders can retain more of their capital and profits from their investments, as well as try the platform out with no costs associated other than network and trading fees.

Secure platform — Uses two-factor authentication for logging in. This keeps accounts and balances safe by creating an additional barrier for hackers to overcome if they try to attack the platform.

Accepts Visa and Mastercard deposits — The exchange accepts deposits from VISA and Mastercard, making the platform accessible to most people with a bank account. This ease of use is important, as it means that the exchange is likely following government regulations and can be trusted

BitBay exchange: Pros and cons

Pros

• Highly-regarded, award winning platform
• Number one exchange in Europe
• Generous affiliate program
• Offers over 30 cryptocurrencies to trade, buy and sell
• Intuitive interface and design

Cons

• Does not offer staking products like some competitors
• ‘Pro’ mode could be more smoothly integrated with the rest of the platform

How to sign up to BitBay exchange

1. Enter your email address and sign up
2. Next you will need to verify your account with KYC documents. However before you do this, you can look at the layout for the platform to make sure you like the look of it.
3. Once you’ve verified your identity, deposit your coins and start trading

User interface for BitBay exchange

The user interface is fairly typical for an exchange, so the layout should be easy to use for anyone with experience of using another platform.

The BitBay website also contains a really useful ‘Help Centre’ that explains how to use the various features of the exchange, with easy to understand instructions and FAQs sections, such as those for beginners, pro traders and guides for how to make deposits/withdrawals.

In addition, the exchange is available to use in eight languages: English, Polish, Chinese, German, Spanish, French and Portugese, which provides BitBay with a global perspective and outreach for traders across the world.

Traders can also download a mobile app for use on-the-go — a vital feature for those who want to monitor a position while away from the computer.

BitBay: in summary

BitBay is a growing exchange with an already established legacy as one of the exchanges at the forefront of the European crypto trading space.

With a beginning steeped very much in the early days of crypto, BitBay has established itself as the premier exchange in Europe and has weathered the storm of the crypto industry’s ups and downs by investing in security, following KYC regulations for anti-money laundering and continuing to push grow and develop its outreach.

In addition to this, the BitBay Pay feature is great for making crypto payments for goods and services online — arguably an understated feature at present, but one that could soon be very useful as crypto adoption increases over time.

In conclusion, BitBay offers a good balance of features for new traders and more experienced traders looking to find a new trading platform.