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Tuesday, June 18, 2024

Bitay Cryptocurrency Exchange Review: It Is Legit & Secure Exchange

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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

ExchangeDetails
Exchange NameBitay Cryptocurrency Exchange
Exchange TypeCryptocurrency
Deposit FeeFree
Maker Fee0.20%
Taker Fee0.28%
Transaction LimitN/A
Support24/7
WebsiteHomepage

How To Sign Up & Start Trading

You Sign Up For A User Account By Providing Basic Information.

On Every Exchange You Will Get Option For Sign Up Or Create Account . Just Fill Some Basic Details Like Name , Email , Password , Security Question Etc For Registration . It Is First Step To Start Trading On Any Exchange

You Then Receive An E-mail In Your Mailbox To Activate Your Account.

Before You Can Login, You Must Active Your Account With The Code Sent To Your Email Address.Then You Will See A Message That Your Financial Account Is Activated And Ready To Go. This Means That You Can Log In And Start Trading In Cryptocurrency.

Identity Verification

For Successful Verification You Will Need Identity Documents. For Example, You Can Use A Driver’s License Or Passport, Where The Name Is Duplicated In Latin Letters.Confirmation Of Identity On Exchange Is An Optional Step. The Procedure Must Be Completed Only If You Want To Remove The Restrictions Of Btc On Deposit Or Withdrawal Of Funds Per Day.

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.

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Disclaimer

Crypto investments come with high risk and you should always exercise caution when investing in any crypto asset. Investing in crypto carries a high level of risk, and may not be suitable for all investors. Any investment decisions made by you are made at your own risk and we are not responsible for any losses that may occur. Before investing, we recommend you consult a financial advisor to understand the risks and rewards associated with investing in crypto.

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