RESEARCH & ANALYSIS
FOR THE CRYPTO ECONOMY.

BitBay

BitBay Exchange Review

Centralized
  • 24h Trading Volume

    1199.074 BTC
  • Establish date

    2014
  • Headquater

    Poland

BitBay Exchange Review

  • BitBay Withdraw

    BTC – 0.00045 BTC

    ETH – 0.00126 ETH

    LTC – 0.005 LTC

    Full list of fees can be found here

  • BitBay Fees Discount

    Lower fees for Makers. Lower fees for crypto transactions. Lower fees for fiat transactions with 30 day trading volumes.

    All the specifics about that can be found here

  • BitBay Deposit fees

    Free
  • Fiat Deposit

    USDEURPLN
  • Accepted Payment Method

    Crypto to Crypto, Crypto to FIAT
  • Native Token

    Yes
  • Margin Trading

    No
  • Download Clients

    • Download client
    • Download client

BitBay Exchange Score Analysis

BitBay, an originally Polish exchange which moved their registration to Malta, has been around since 2014, and has since offered the purchasing of crypto using fiat transfers and credit cards, mainly in PLN, but also providing the option for USD & EUR trading.
Although the exchange has been operating quite some time without any major setbacks, aside from regulatory hurdles which forced it to move its registration to Malta, nowadays it struggles to attract volume and liquidity to its platform – and the exchange has almost no trading volume on it nowadays – the orderbooks stay empty.
A big advantage of BitBay is its very low fees – exceptionally low and very competitive.
There does not seem to be significant risk associated with trading on the exchange – there are more attractive targets for attackers in this space.
In our review, we became quite ambiguous about the BitBay team – Founder and President Sylwester Suszek has been running the exchange and its sister-company (BitBay Pay) since its launch, and his team does not seem to include some key roles – we did not find a dedicated Risk Management employee.
Our conclusion is, while BitBay might seem attractive for users of Polish origin who are interested in exchanging their PLN for some of their favorite cryptocurrencies, it does not justify the utter lack of volume – resulting in the ability to actually trade – for all other users of the exchange.