BitBay Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Proprietary BitBay platform
- All major cryptocurrencies, from fiat to US dollar, multi-currency wallet with ATM withdrawals
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Proprietary BitBay platform
- All major cryptocurrencies, from fiat to US dollar, multi-currency wallet with ATM withdrawals
Our Evaluation of BitBay
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
BitBay is a cryptocurrency exchange with higher-than-average risk and the TU Overall Score of 3.68 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by BitBay clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
BitBay crypto exchange offers favorable trading conditions and a simple functional trading terminal with a high level of user data protection. Trading is carried out in cryptocurrencies, but fiat funds can also be stored on the wallet with the ability to withdraw your funds from any ATM. The exchange is possible without AML and KYC verification, but it is desirable to access the full functionality of the site. The company has been operating since 2014, is officially licensed, and is headquartered in Tallinn (Estonia).
Brief Look at BitBay
The BitBay exchange is a platform for buying and selling cryptocurrencies such as Bitcoin, Litecoin, Ethereum, Tether, Dash, and tons of others. It’s enough to sign up to carry out transactions, and advanced verification is not required. The company has its proprietary trading terminal called BitBay 3.0, which meets state-of-the-art standards of functionality and security. There is also a mobile version. The user is provided with a multicurrency account where cryptos and fiat currencies can be stored. The option of withdrawing funds from the account through ATMs (via SMS) is available. Deposits and withdrawals are possible using bank cards and accounts. Maker's trading fees are up to 0.3%, taker's fees are up to 0.43% for all traded cryptocurrencies. The company is certified by The Canon of Good Practices.
- user-friendly and functional trading terminal with a mobile version;
- universal account for cryptocurrencies and fiat funds;
- the ability to withdraw funds from ATMs (via SMS);
- payments up to 80% of the fees of referrals under the affiliate program;
- one of the lowest trading fees in the segment;
- cold storage of user funds.
- absence of tutorials;
- no stop loss and take profit functions;
- no scalping.
TU Expert Advice
Financial expert and analyst at Traders Union
The BitBay crypto exchange is one of the leaders in its financial segment. Today the company offers a convenient cryptocurrency exchange service with more than 30 assets. Cryptocurrency assets are traded among themselves, they can also be bought/sold for US dollars. There are no other fiat funds on the site.
Technically, the company's trading terminal (BitBay 3.0) implements the best practices of leading analogs. It is simple and easy to learn, and well-protected with SLL encryption. A two-step verification system has been implemented. It is not necessary to be verified to make exchanges, but unverified users receive limited functionality and jeopardize the security of their personal data.
BitBay does not charge any fees for opening and using an account. There are fees for crypto-to-crypto and crypto-to-fiat transactions. The value of the fee varies depending on the trading volume, the more a trader trades, the lower it is. This is a common practice. There are no minimum deposits for cryptocurrencies, deposits for fiat depend on the asset.
The site is assessed as reliable, as it operates transparently under a license. No problems were found during testing. The technical support is stable, in addition to email and social networks, there is a call center with specialists who speak the main European languages. The BitBay crypto exchange can be recommended for permanent cooperation by crypto traders.
BitBay Summary
💻 Trading platform: | Proprietary BitBay 3.0 platform |
---|---|
📊 Accounts: | Standard, business |
💰 Account currency: | Cryptos, currencies |
💵 Replenishment / Withdrawal: | Bank cards and accounts, electronic and crypto wallets |
🚀 Minimum deposit: | No (available for fiat) |
⚖️ Leverage: | No |
💼 PAMM-accounts: | No |
📈️ Min Order: | From 0 |
💱 Commission: | Market |
🔧 Instruments: | Cryptos, currencies |
💹 Margin Call / Stop Out: | No |
🏛 Liquidity provider: | No |
📱 Mobile trading: | Yes |
➕ Affiliate program: | Yes |
📋 Orders execution: | Not indicated |
⭐ Trading features: | All major cryptocurrencies, from fiat to US dollar, multi-currency wallet with ATM withdrawals |
🎁 Contests and bonuses: | Not indicated |
Please note that there is no minimum deposit for crypto assets. If you want to transfer fiat funds to your multicurrency account, check out the special table on the crypto exchange website. Deposits for fiats vary, as do the limits on fees. There is no opportunity to trade with leverage on the site. Technical support is provided by all major communication channels: email, contact multichannel telephone, and social networks. Technical support does not work around the clock. There is an offline help center.
Share your experience
- Best
- Last
- Oldest
Commissions & Fees
Account type | Commission (minimum value) | Withdrawal commission |
---|---|---|
Standard | From 0.1% per offer | Yes |
Please note that in a multicurrency wallet, each cryptocurrency has its address. If no payment has been received to the address of a specific cryptocurrency within six months, it is deleted. An attempt to transfer funds to this address will result in the loss of funds. The algorithm for obtaining a new address for the target cryptocurrency must be clarified with technical support. Here's a comparison of BitBay's current fees to those from other cryptocurrency exchanges:
Broker | Average commission | Level |
---|---|---|
|
$1 | |
|
$20 | |
|
$0.1 |
Investment Programs, Available Markets, and Products of the Crypto Exchange
The BitBay crypto exchange does not provide investment programs to users. The company is focused on a cryptocurrency exchange, traders can only earn from buying/selling cryptocurrency and foreign exchange assets. There is only one passive income option on the site: the referral program.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
BitBay’s affiliate program
The terms of the BitBay referral program corresponds to the referral programs of most other crypto exchanges. It enables each verified user to receive passive income from invited traders. The algorithm is as follows:
You register and verify on the crypto exchange. In the user's account, there is a section dedicated to the affiliate program.
In this section, you are provided with a personal link, which you can share with others at your request, without restrictions.
Each user who registers on the crypto exchange website using your referral link becomes your partner.
The crypto exchange transfers you from 20% to 80% of the fees of your referrals for each transaction. The referral program is unlimited in duration.
The amount of payments depends on the trading volume of each referral and the total number of referrals. The percentage is calculated individually. You can always go to the appropriate section of your personal account and clarify all the conditions based on which bonus payments are made.
The BitBay referral program only has one level. You do not receive payments from commissions of users who are invited to the site by your referrals. Referral payments are made daily in the currency of the asset for which your referral made the transaction.
User Satisfaction