BitBay
BitBay is a decentralized cryptocurrency exchange that allows users to trade digital assets and currencies in a peer-to-peer manner without an intermediary. Its key features include a double deposit escrow system, built-in marketplace, and smart contracts.
decentralized
p2p
cryptocurrency
exchange
digital-assets
BitBay: Decentralized Cryptocurrency Exchange
A peer-to-peer cryptocurrency exchange with double deposit escrow, inbuilt marketplace & smart contracts for secure trading
What is BitBay?
BitBay is a decentralized cryptocurrency exchange platform that enables users to trade digital assets and cryptocurrencies in a peer-to-peer manner without an intermediary. It was launched in 2014 with the goal of providing users more control, privacy, and freedom over their funds and trades.
Some of the key features and highlights of BitBay include:
- Double deposit escrow system - BitBay uses a unique double deposit escrow system to secure trades between users. Both the buyer and seller deposit the trade amount into escrow, preventing fraud.
- No KYC - BitBay does not require know your customer (KYC) procedures or collection of personal user data, preserving privacy.
- Built-in marketplace - The platform has an integrated marketplace for buying and selling goods for cryptocurrency.
- Smart contracts - BitBay allows users to create and deploy smart contracts for more complex trade conditions and arrangements.
- Tor integration - BitBay has embedded Tor integration for enhanced privacy and anonymity when making trades.
- Decentralized order book - The order book is decentralized across nodes on the network rather than centrally hosted.
By combining features such as escrow, smart contracts, Tor, and a decentralized order book, BitBay aims to provide one of the most secure and private peer-to-peer trading environments outside of centralized exchanges.
BitBay Features
Features
- Decentralized cryptocurrency exchange
- Double deposit escrow system
- Built-in marketplace
- Smart contracts
Pricing
- Free
Pros
Peer-to-peer trading without intermediary
More secure than centralized exchanges
Lower fees than centralized exchanges
Cons
Lower liquidity than centralized exchanges
Limited fiat currency support
Steep learning curve for new users
Official Links
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