News

BitBay - moving to Malta - update

4 months ago

Due to many questions, we decided to clarify one more time the situation connected with suspension by BitBay sp. z.o.o the company in Poland in favour of the company in Malta.

What the migration means for our Users?

In practice, for clients this means that at the moment of consent to the transfer of their accounts to the Maltese jurisdiction, nothing will change except the entity that will operate the platform. The functionalities remain the same, and thanks to the transfer, new possibilities appear - such as EUR and USD deposits.

Up to 31 May 2018 (in practice to 30 May 2018, 1p.m CET, due to the holiday in Poland on 31st of May) Users will be able to use all functions of the BitBay exchange in Poland. After this date access to the bank account in PLN will not be possible - it refers to both - deposits and withdrawals. All other functions of the BitBay exchange in Poland will still be active. After the expire of the notice period, that is from 18 September 2018*, it will be only possible to make a one-time withdrawal of all funds gathered in cryptocurrencies and FIAT currencies on the account without the possibility of re-deposit. From 18 September 2018* the trade on the BitBay exchange in Poland will be suspended.

If the User wants to deposit and witdraw funds in FIAT currencies, such as EUR, USD and PLN, he has to accept moving his account to Malta. It does not require any additional activities except accepting the regulations on our platform. Migration is free.

BitBay PolandBitBay Malta
Deposits and withdrawals in PLNAvailable to 30.05.2018Available from now
Deposits and withdrawals in EUR and USDNot availableAvailable from now
Crypto deposits and withdrawalsAvailable to 17.09.2018*Available all the time
Deposits in Polish PostAvailable to 17.09.2018*Available all the time
ATM withdrawalsAvailable to 17.09.2018*Available all the time

* The deadline may be extended. It will not be shortened.

What in case of User's moving to Malta?

1) In order to change to Malta, it is enough to accept the appropriate consents after logging into the exchange panel.

2)Funds of all our Users are safe. After moving to Malta, nothing changes. It's for free. Login, password and 2FA remain the same. Balances in crypto and fiat will be completely transferred as well. Issued offers will not be cancelled. Transactions within the exchange will be made between users from both Poland and Malta.

3) All of the verified accounts after the migration will remain verified.

4) After transferring to Malta, deposits and withdrawals of PLN are available. A Polish bank supports them. It is possible thanks to legal regulations possessed by Malta and thanks to the ongoing work on the license, which enables establishing cooperation with the bank on the basis of international law. Transfers will be made just as quickly. We are planning to increase the number of withdrawal bank sessions from 1 to 3 per day, in order to improve the quality of our platform. We also plan to integrate express deposits and withdrawals.

5) On BitBay Malta EUR and USD deposits and withdrawals are available, and the bank accounts are also in a Polish bank.

6) Deposits at Polish Post Office and withdrawals at ATMs for customers after the transfer remain available as before.

7) All markets for trade remain available, we are only working on adding new ones.

8)Affiliate Program works without any changes. The number of Users registered with the command does not change. Making money is regardless of whether the User has migrated to Malta or not.

What in the case of User's staying in Poland?

1) If the User will not decide to migrate an account to Malta, HIS ACCOUNT WILL NOT BE BLOCKED, and he will not lose access to funds deposited on it. Deposits via bank transfer to your account in Poland can be made no later than 30 May. From May 31st, you will be only able to make deposits via Poczta Polska and withdrawals via ATMs. You can also use deposits and withdrawals of cryptocurrencies as their availability will remain unchanged.

Remember that by moving with BitBay to Malta you get access to deposits and withdrawals PLN / EUR / USD located in the POLISH BANK.

2) All markets remain available. Date 17th of September is the date of a THEORETIC suspension of services for Users who have not decided to transfer. However, if their number is large, the change of the term will be considered.

We understand that the name of the Maltese company could be suprising, but we assure that even if it does not sound like BitBay - it is still BitBay. This is purely legal, many platforms in the world have a different company name in relation to the name of the platform. There is no need to worry.