Safety

Safety is our priority!

We care about the safety of our clients' funds in many different ways. We have our original security solutions and we provide our clients with features that allow them to secure their accounts.

Why you should secure your account?

Because in the exchange transactions are made with real money! When you make a deposit, you place your funds on your BitBay account. It's important that you have constant control over them. If you won't turn on protection features, someone can get access to your account and steal your money! What should you take care of?

Strong password

We advise our clients to create strong passwords not only for BitBay account but also for e-mail or social media accounts. How is strong password made? It should have the minimum of 8 characters and be created of:

  • Small letters
  • Big letters
  • Digits
  • Special characters (eg. ! or @ or $)

Furthermore, the password shouldn't be similar to users' login. You should have a different password for each platform you log into. If you're not sure you can memorize them all - use a password manager. A strong password is the first step to secure every account on the internet!

Two-factor authentication

It is another option that will help you secure your account. This way no one can log in to your BitBay account if they know only your password. Two-factor authentication requires another piece of information to allow logging in. Without it, no one can access your account. You have a couple of options to choose from:

  • Google Authenticator - it's a mobile app that generates one-use codes for logging in. Each time, after filling in your password, a pop-up will appear and ask you to provide a code generated by Google app. It's a great method to secure your account because it requires another device. Even if someone breaks into your computer, they won't have access to your phone and won't be able to log in.
  • E-mail codes - an easier method that doesn't require a mobile app. Each time you log in you will receive an e-mail message with a code, that you have to fill into pop-up that appears after filling in your BitBay account password.
  • SMS codes - a method that is a mix of the two above. You don't need a separate app to log in, but each time you will get a text message with a code.
  • BitBay mobile app - it not only allows you to access your exchange account but also lets you generate codes for logging in.

Confirmations

Additionally, you can turn on confirmations for actions that you make on your account. It guarantees that no one will do exchange transactions or withdrawals without your knowledge.

You can confirm your actions with Google Authenticator or e-mail codes. It works similarly to two-factor logging in. After doing certain actions you will see a pop-up where you fill in the code from an e-mail message or mobile app. Only after providing a correct code the action will happen.

And what we can offer?

Besides safety options that you decide about, we also guarantee top-level safety standards. What are they?

Funds safety

We keep all cryptocurrency funds on so called cold wallets. It means they are not connected to exchange servers directly. It guarantees that no third-parties can access those funds. Additionally, all those wallets are properly encrypted.

Fiat currencies are guaranteed by the bank. Thanks to that our clients' funds are safe no matter what.

Encryption

Our exchange is working on dedicated, encrypted servers with full redundancy. Databases, backups, wallets, passwords - all important data is encrypted properly.

Also, we use SSL encrypted connection (https). It guarantees your data's safety while using BitBay.

Transfer authorization

All deposits and withdrawals are authorized by the exchange employees.

AML & KYC policy

BitBay exchange has a policy against money laundering and terrorism financing. It consists of:

  • Account verification: each user who want to pay in fiat currencies eg. USD, EUR or PLN has to verify their account. To do that, the user has to send scans of an ID document and address confirmation document. Verified account also means privileges that are not available for non-verified users. All collected data is kept on encrypted servers. On BitBay you can exchange digital currencies without verification,
  • Transfer title: BitBay exchange adds deposits to the accounts only if they have a correct transfer title.
  • Safety PIN code: Each user is obligated to set up 4-digit safety PIN code during account registration. If they contact our support - no information will be passed without the PIN code. The user that doesn't remember their PIN code has to send a picture where he holds an ID document he verified his account with. If they don't remember the PIN code and their account is not verified, a full account verification will be required.
  • Transfer delay or account blocking: Accordingly to our Terms of Use, we can block a deposit or an account if there might be suspicion of a crime.
  • One user, one account: Accordingly to our Terms of Use, one person can only own one BitBay account.