Advantages and disadvantages of BitBay

Advantages and disadvantages of BitBay

You want to use BitBay to trade or store the crypto-currency, but you don’t know how to work this platform and you would like to know its advantages and disadvantages. This is what we propose to you to enjoy in this guide.

Presentation of BitBay

BitBay is one of the platforms of trading of crypto-currencies, most well-known and the most popular on the market. In part, this is because it is a versatile platform that will allow you not only to store your crypto-currency through its integrated portfolio, but also to buy, sell, send or receive crypto-currency. In addition, you will be able to trader all crypto-currencies, most well-known, such as Monero, Bitcoin or Litecoin.

The advantages and disadvantages of BitBay

The main advantage of BitBay is its attractiveness. This is reflected in several ways. The first of them is the amount of fees collected on transactions. They are in fact well below the average. In addition, you can use BitBay without having to confirm your identity. This allows you to be able to start trading without too much wait. However, you can also increase your opportunities by doing so. Finally, the platform BitBay makes every effort to ensure the security of your data since you can not only protect your access with a second code, but you can also take advantage of two-factor authentication via Google Authenticator.

However, BitBay also has disadvantages. The first of them is that the interface is entirely in English (or Polish), which can be annoying for those who have some difficulties in the language of Shakespeare. Another one of its big disadvantages is the fact that you will not receive any notification, either for a payment that you receive or a transfer you make to another account. However, this can be solved by using BitBay Notify, which relies on the API BitBay to notify you by mail of each important event on your account. Finally, in the event of a problem with the latter, you can see that the responsiveness of the customer service is far from exemplary. The response times are indeed quite long. However, if you understand English, a complete documentation is available.

In conclusion

BitBay is part of the trading platforms of crypto-currencies, the most popular and the must including to its attractiveness. There you will find transaction fees well below the average and you will not need to verify your identity in order to be able to use it. In addition, you will have all that it takes to secure your account. However, we can regret that the interface of the platform has not been translated into French, which could put off the anglophobes. In addition, if you do not install BitBay Notify, you will receive no notification. Finally, the customer service is sorely lacking in responsiveness. BitBay is, however, one platform is very interesting, for what little English you do not pose too much problems and that you can be fairly self-contained.