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.