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New: You can make a deposit on BitBay by card
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New: You can make a deposit on BitBay by card

created Michał SielskiAugust 5 2020

On Polish Bitbay cryptocurrency exchange deposits can now be made using a debit or credit card. This operation is possible both in Polish zlotys and in euro. Deposits can be made by Mastercard cardholders.

Deposits are available 10 hours a day on every day of the week. The money is credited almost instantly, but in some cases you have to wait for about XNUMX minutes for it to appear on your account. However, this is still much faster than posting a bank transfer.

A commission is charged for each deposit, which is 2,99% of the amount deposited, but it cannot be less than PLN 10 or EUR 2,50. Each transaction is secured on a multi-level basis by the secure 3D-Secure system known to every electronic banking customer.

Deposits on BitBay using a debit and credit card can only be made by customers who have already completed full account verification on BitBay exchange and activated 2FA protection - Google Authenticator.

How to make a deposit to Bitbay with a card

Making a deposit by card is simple and intuitive. You just need to log in to your user account, and then select the tab "Wallets". In it, we choose the currency: PLN or EUR - depending on the currency in which we want to make the deposit. Here a lot depends on which of them the card we want to use for the payment is settled in. If it is settled in zlotys and we choose euro (or vice versa), the bank will automatically charge a commission for the conversion, so it's better to simply choose the simplest solution without unnecessary complications.

How to add a card to your BitBay account

Cryptocurrency market BitBay describes in a few simple steps how to add a payment card to your account:

  1. Select "Deposit" and the option "Payment card".
  2. Click "Add Card"
  3. Read the terms and conditions of using BitBay cards. After its acceptance, you will be redirected to the card operator's website.
  4. Complete the card details (user name and surname, card number, expiry date, CVV code).
  5. Confirm adding the card with the 3D-Secure code.
  6. During card verification, a non-refundable fee of no more than EUR 1 will be charged.
  7. The operator will ask you to log into the bank and confirm the amount of the verification transaction.
  8. After verification and adding the account, the user receives a confirmation by e-mail.
  9. You can now make your first deposit! Select a card and amount to deposit.

Restrictions on deposit cards with BitBay

Payments of deposits to the cryptocurrency exchange BitBay through credit and debit cards, however, have some limitations. In this way, you cannot deposit more than the equivalent of 10. euro per month. If we decide to deposit new amounts in the following days, above the payment field will be displayed the limit, updated every 24 hours, remaining for possible payments during the month.

Up to three cards can be assigned to the account, but in no case can they be the increasingly popular prepaid bank cards. In this way, the Katowice-based company BitBay defends itself against the potential accusation of enabling money laundering, which could be transferred to the cryptocurrency exchange and then withdrawn using prepaid cards.

Without a doubt, allowing deposits to be made to the BitBay cryptocurrency exchange with a debit and credit card is another - if not the greatest - facilitation, especially for beginner traders who want to start their adventure with investing in cryptocurrencies.

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About the Author
Michał Sielski
Professional journalist for over 20 years. He worked, among others, in Gazeta Wyborcza, recently associated with the largest regional portal - Trojmiasto.pl. He has been present on the financial market for 18 years, he started on the Warsaw Stock Exchange when the shares of PKN Orlen and TP SA were just being introduced to the market. Recently, his investment focus has been exclusively on the Forex market. Privately, he is a parachutist, a lover of Polish mountains and a Polish karate champion.