About Bitay Cryptocurrency
Bitay Cryptocurrency Technology, Turkey’s most sophisticated advanced trade system for making purchases and sales of digital currency exchange market offering both web and mobile applications. In addition, it provides a digital money payment system in member merchants that are contracted with inexpensive and instant money transfer based on the financial technology of the future.
Global Exchange also with the partnership agreements they made with the most product variety largest company in Turkey with a market volume and depth. The platform was developed as a Research & Development Project at Yıldız Technical University Technopark with the support of the Ministry of Science, Industry and Technology.
With Bitay Cryptocurrency Exchange 100% local and in-house software team, all advanced technology, from Trading platform to Wallet, serve in the most secure way; 3rd party software is not used. They continue activities in the light of founders’ long-term experience in Financial Technology and Investment sectors.
Basic Information
| Exchange | Details |
|---|---|
| Exchange Name | Bitay Cryptocurrency Exchange |
| Exchange Type | Cryptocurrency |
| Deposit Fee | Free |
| Maker Fee | 0.20% |
| Taker Fee | 0.28% |
| Transaction Limit | N/A |
| Support | 24/7 |
| Website | Homepage |
How To Sign Up & Start Trading
Bitay Trading fees
Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. At this exchange, they divide between takers and makers. Takers are the one who “take” an existing order from the order book. Makers are the ones who add orders to the order book, thereby making liquidity at the platform.
Bitay Cryptocurrency charges takers 0.28% per trade. These taker fees are higher than the global industry averages for centralized exchanges. Industry averages have historically been around 0.20-0.25% but we now see new industry averages emerging around 0.10%-0.15%. Regardless of whether you compare with today’s industry averages or historical industry averages, 0.28% is high.
Does Bitay have a better deal with respect to the makers? Yes, but only a slightly better deal. Makers pay 0.20% instead of 0.28%. All in all with respect to the trading fees, they are high.
Bitay Withdrawal fees
They have not been able to find any information on this exchange’s withdrawal fees. This is potentially a risk for you as an investor. Whenever an exchange does not inform of a fee, there is a higher risk that such fee is high. As soon as they receive information on the withdrawal fees at this exchange, they will update this review and post them here.
Deposit Methods
In addition to depositing cryptocurrency to the platform, Bitay also lets you deposit/pay with fiat currency. To understanding, fiat currency deposits are possible through both wire transfer and credit card deposits. However, the only fiat currency possible to pay with is the Turkish Lira (TRY).
Security Focused Perspective in All Workflows
In the process of Bitay Cryptocurrency establishment and implementation, they thought that all milestones were focused on security during that journey from idea to substance. They have made safety-oriented thinking the sustainable policy of company. From the moment the first algorithm of platform emerges, to recruitment, from the office to be held, to business agreements with stakeholders, they try to do all business from a security-oriented perspective.