bitay

Overview of bitay

Bitay is a cryptocurrency exchange founded in 2019 and based in Turkey. Although it is not regulated by any known authority, the platform offers trading in over 40 different cryptocurrencies. The fee structure is set at 0.2% for makers and 0.28% for takers. Traders can fund their accounts through bank transfers or credit/debit cards.

Pros and Cons

Security

On the security front, Bitay has implemented 2-Factor Authentication (2FA), a basic but crucial layer of protection for user accounts. However, beyond this, the platform's overall security level is perceived to be relatively low when compared to other major exchanges that employ advanced security measures and are regulated by external authorities. Potential users should be aware of these aspects and exercise caution when considering using the platform.

Cryptocurrencies Available

Bitay offers a wide range of cryptocurrencies for trading on its platform. Currently, there are over 40 cryptocurrencies available, providing users with a variety of options to choose from. Some of the popular cryptocurrencies available on Bitay include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH), among others.

How to Open an Account？

Visit the Bitay website and click on the “Join Now” button. Fill in the required information, including your email address and password.

Verify your email address by clicking on the verification link sent to your inbox.

Complete the KYC (Know Your Customer) process by providing your personal information, such as your full name, date of birth, and address. You may also be asked to upload a copy of your identification document for verification.

Choose your preferred security settings, such as enabling two-factor authentication (2FA) for added account security.

Agree to the terms and conditions of Bitay and confirm your registration.

Once your registration is complete, you can log in to your Bitay account and start exploring the platform and trading cryptocurrencies.

Fees

Bitay operates with a competitive fee structure:

Maker Fee: 0.2%

Taker Fee: 0.28%

The fee and minimum transaction details are as follows:

CORD:

Minimum Confirm Account: 20

Minimum Withdraw Amount: 8,000 CORD

Withdraw Fee: 1,000 CORD

EUR:

Minimum Confirm Account: 1

Minimum Withdraw Amount: 10 EUR

Withdraw Fee: Not applicable

TRONUSDT:

Minimum Confirm Account: 1

Minimum Withdraw Amount: 10 TRONUSDT

Withdraw Fee: 5 TRONUSDT

USDT:

Minimum Confirm Account: 10

Minimum Withdraw Amount: 20 USDT

Withdraw Fee: 10 USDT

Payment Methods

Bitay supports two main payment methods: bank transfer and credit/debit card. Users can make deposits and withdrawals using these options.

The processing time for deposits and withdrawals may vary depending on the chosen payment method. Bank transfers typically take a longer time to process, usually ranging from a few hours to a few business days, depending on the bank and country. Credit/debit card payments, on the other hand, are usually processed almost instantly.